The Cornwall Minerals Railway (CMR) itself had experienced financial difficulties and from 1 October 1877 had leased its lines to the Great Western Railway (also lessee of and operator of the Cornwall Railway), but as trade improved its income from the lease and a financial arrangement with creditors resulted in the CMR having cash available, and it made arrangements to purchase the Lostwithiel and Fowey line. The purchase was confirmed by Act of Parliament of 27 June 1892. The L&FR Company was dissolved and the line and jetty accommodation were transferred to the Cornwall Minerals Railway. The CMR reconstructed the line and converted it to the standard gauge, rebuilding and extending the jetties at Carne Point also. The CMR had a Fowey station a short distance south of the L&FR terminal, and the CMR constructed a connection to link the two railways. The line reopened on 16 September 1895, for both goods and passenger traffic, and passenger trains ran to the CMR passenger station at Fowey. An intermediate station was opened at Golant.