South Crofty Limited

South Crofty Ltd, based in Truro, UK, is a small holding company with an active status, established 18 years ago in 2007. Employing 43 people, the company holds £1,063,233 in assets and operates from a real address. Two directors and one owner manage the business, which currently enjoys a Google rating of 4.0 based on seven reviews. The company is a regular importer of electrical machinery and equipment, with 7 months of import activity recorded.

The company’s core focus lies in mining other non-ferrous metal ores, and is a subsidiary of Cornish Metals Inc., a dual-listed company working to reopen its 100%-owned, fully permitted South Crofty underground tin mine. The mine boasts a long history, dating back over 400 years, and possesses significant infrastructure, including multiple shafts, which can be used for future operations. The project has a mining permit extending to 2071, planning permission for a new processing plant, and an environmental permit for dewatering the mine.

Financially, South Crofty Ltd's recent report reveals a mixed picture. Creditors have increased significantly, jumping 91% to £20 million, while net losses deepened to -£610,000. Cash reserves, however, have improved by 40% to £130,000. Trade debtors have also risen, increasing 73% to £940,000. The company meets the criteria for a small business, with a turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. The lack of a named auditor suggests the company is exempt from an audit as a small business, relying on unaudited financial statements. The rise in debt could indicate investment in the mine's reopening, but it also presents a challenge. The company’s long-term success hinges on its ability to capitalize on the global demand for ethically sourced tin and secure further funding.

Registered in England/Wales under the registration number 06242518, with a registered address at TR1 1UT, United Kingdom, Truro, Cornwall, Stephens Scown Llp Osprey House, Malpas Road.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.