Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said there were no operational or corporate reasons for the recent decline in its share price.
Notwithstanding the 10% bounces in the stock on Friday, there has been a net 35% decline in the value of the business over the past five working days.
Last month, the company posted what it described as a positive preliminary economic assessment (PEA) for its South Crofty tin project in Cornwall.
The PEA estimates an after-tax net present value of $201 million and an internal rate of return of 29.8%, confirming the project's viability and 14-year mine life.
Current activities include shaft refurbishment, mine dewatering, water treatment, and exploration drilling. A technical report will be filed within 45 days. The company's first-quarter results will be released on May 23.