UK lithium project developer Cornish Lithium has warned that it could go bust if it fails to secure a £10mn cash injection by next month.
The private company, which aims to produce the battery metal in Cornwall, needs to secure short-term funds to give it breathing space to obtain a longer term financing arrangement.
“All of the scenarios modelled require the receipt of further funding by July 2023,” it said in its annual accounts.
“Without this, a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern.”
Read the full story on the Financial Times here.