Strategic Minerals

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Strategic Minerals plc (AIM: SML) is a UK registered resources company focused on the development and supply of iron ore – in particular magnetite - to the world’s industrial markets. The Company seeks a balance between near term marketable magnetite production assets and the significant capital gains growth associated with the exploration and development of prospective deposits. 

Website:
http://www.strategicminerals.co.uk/
Phone:
+44 (0)20 7653 9850
Address:
Finsgate 5-7, Cranwood Street, London EC1V 9EE.
Super Sector:
General Mining - Iron Ore and Bauxite
Sector:
Industrial Metals
Industry:
Iron & Steel
EPIC / Symbols:
LON:SML
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Sector: Industrial Metals

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Current Statement

 

Strategic Minerals plc (AIM: SML) is a UK registered resources company focused on  development and supply of magnetite to the world’s industrial markets. Quoted on the London Stock Exchange’s AIM market, the Company is currently developing a portfolio of production ready magnetite stockpiles that generate significant early revenues, as well as a number of significant upside iron ore exploration projects that the Company will typically progress to a JORC status. 

 

The first of the Company’s stockpile projects is the Cobre stockpile in New Mexico, USA. The Company likewise holds multiple exploration tenements across Australia, with its most advanced exploration project being the Iron Glen project in Queensland.

 

 

Cross section core mineralization

Current Operations

 

Stockpiles of magnetite typically occur as a result of mining operations discarding mined magnetite ore when mining for other commodities. Strategic Minerals is currently acquiring a pipeline of production-ready magnetite stockpiles and other near term production mineral deposits where it is confident they can be economically put into production in the near term.

 

 

 

The Cobre Stockpile in New Mexico  

As a result of the Ebony Iron acquisition, Strategic Minerals has secured the right to commercialise its first stockpile, the Cobre stockpile. The Cobre Stockpile is located at the Freeport McMoRan (Freeport) Cobre mine in New Mexico, USA.  

 

A JORC compliant resource of 1.57 million metric tonnes of magnetite ore has been estimated for the stockpile, having an average grade of 61.7 % Fe.

 

The Company is currently re-instating the rail-links to the stockpile at the site and anticipates moving into production in Q1 2012.

 

 

EXPLORATION 

The Company has a number of exploration sites in close proximity to known iron ore resources. The Company expects to develop its exploration projects to a JORC status before considering the decision to mine.

 

Strategic Minerals currently holds a portfolio of tenements in Australia.

•  Iron Glen – Queensland;

•  The Hodgson and Roper River region tenements in the Northern Territory;

•  The Jotanooka and Dragon Rocks tenements in Western Australia.

 

Queensland -The Iron Glen Tenement

The Iron Glen Tenement is located approximately 40km from the deep water port of Townsville, Queensland, and is close to existing road and rail infrastructure. Within a well recognised mining region, areas of the 2,100 hectare tenement have been subject to extensive magnetic and geochemical analysis since 2007, there having been an operational magnetite mine on the site until the mid 1960’s.

 

The Company is currently advancing a 30 hole+ drilling programme – initial assay results of sample chips having indicated the presence of Lead, Silver, Copper and Zinc in the Lead Belly region of the tenement in addition to magnetite.

 

The Company has application for an additional 9,000 hectares (30 sub-blocks) adjacent to the tenement.

 

 

 

 

Northern Territory

The company holds agreements in principle to procure the three tenements and one application spanning some 6,221km2.

 

The tenements in the Hodgson and Roper River region are considered to be prospective iron rich sedimentary units of the Proterozoic  McArthur Basin that are partly overlain by sandstone, mudstone and limestone units of the Cretaceous Carpentaria Basin.

 

 

 

 

Jotanooka, Western Australia

The Company holds an agreement in principle to procure the three tenements in the Jotanooka region. The northern most Jotanooka tenement contains a strong magnetic anomaly believed to be the northern most strike extent of the banded iron formation forming the main area of iron ore at Koolunooka. The aeromagnetic anomaly of interest is situated in an area of shallow soil cover and requires drilling to confirm the presence and nature of the magnetic anomaly.

 

 

 

 

Dragon Rocks, Western Australia

The Company holds an agreement in principle to procure the tenement in the Dragon Rocks region.

 

The Dragon Rocks tenement holds continuous coverage of over 20km of strong aeromagnetic anomalies related to a banded iron formation and amphibolite rocks in the Hyden region.

The area is considered prospective for magnetite hosted within high grade metamorphic rocks.

 

 

 

Managment
Steven Andrew Sanders (Chairman), aged 65

Mr Sanders is a member of the American Bar Association, the New York State Bar Association and the Bar of the City of New York, where he previously served on the European Affairs Committee. He also was the former Honorary Consul from the Republic of Moldova. In addition to his commitment to Law, Steven sits on numerous boards of other companies including TC Power Management, Inc., Helijet International, Inc. and Op-Tech Environmental Services, Inc.

A native New Yorker, Mr Sanders earned his B.B.A degree from the City College of New York and his Juris Doctorate from Cornell Law School. He pursued his interest in corporate and international law at major law firms until 1980. Mr Sanders subsequently opened and closed two of his own firms before forming Sanders Ortoli Vaughn Flam Rosenstadt LLP several years ago. 


Patrick Griffiths (Director), aged 67 

Mr Griffiths holds a BCom (Merit) from the University of New South Wales, an MBA from the University of Sydney and is a Member of National Institute of Accountants (MNIA).

Mr Griffiths has experience in a variety of industries ranging from agriculture, building and construction, chemicals, finance, manufacturing, mining, quarries and technology. In particular, Mr Griffiths has experience with development opportunities, including Wyndham Estate Wines where his involvement extended from initial investment appraisal and negotiation to providing on-going financial management and strategic planning support.

Mr Griffiths’ mining industry experience extends from prior to 1973 when he completed feasibility studies on extensions to the Bass Strait Oil Fields and the exploration of Bonaparte Gulf for Esso. Since then he has completed extensive feasibility studies on Pilbara Iron Ore Venture, McCamey’s Monster WA and a Coal Pelletising Plant in Queensland for Hancock Prospecting Pty Ltd. He was a Director and then Managing Director of a mining group listed on the Johannesburg Stock Exchange, Awande Holdings Limited, with two operating mines and one exploration project in Namibia. In more recent times Mr Griffiths was a Director and General Manager of the Australian based subsidiaries of AIM quoted Sirius Exploration Plc until he took up his role as CEO and CFO of Iron Glen.

Patrick’s roles have included managing director, general manager, chief financial officer, business advisor and analyst, financial planner and logistics manager.


Matthew David Bonthrone (Executive Director), aged 42 

Mr Bonthrone’s business experience spans two decades from real estate development, both private and commercial, leisure retailing including web based retail, high end restaurants bars and clubs and structured fund management. Matthew has set up new business ventures. Matthew started his career in the retail outdoor sector where he built up a discount retailer. Matthew went on to develop one of the first retail website platforms that still operates today.

In 2006 Mr Bonthrone progressed into property finance to structure emerging market development opportunities for a London-based property fund, Park Town Capital plc, operating in Eastern Europe, UAE and the Caribbean. Matthew assisted the fund management team of Park Town Asset Management LLP on behalf of Park Town Capital plc.


Michael Alexander Borrelli (Independent Non-Executive Director), aged 55 

Mr Borrelli initially studied medicine and then qualified as a chartered accountant with Deloitte, Haskins & Sells, London in 1982. He has subsequently been active within the investment banking sector and has acted on a wide variety of corporate transactions in a senior role for over 20 years, including floatations, takeovers, mergers and acquisitions for private and quoted companies on the Official List, AIM and PLUS Markets. He is currently non-executive chairman of Ablon Group Ltd and a non-executive director of Capcon Holdings plc, both of which are quoted on AIM.
Corporate Information

 

Nominated Adviser and Broker 

Allenby Capital Limited

Claridge House

32 Davies Street

London

W1K 4ND

 

Solicitors

Pritchard Englefield

14 New Street

London

EC2M 4HE 

 

Auditors 

Jeffreys Henry LLP

5-7 Cranwood Street

London

EC1V 9EE

 

Financial PR 

 

Financial PR

gth  media relations

76-80 Southwark Street

London 

SE1 OPN 

 

 

Registrar

Share Registrars Limited

Suite E

First Floor

9 Lion and Lamb Yard

Farnham

Surrey

 

Contact Information

For general enquiries, please contact info@strategicminerals.co.uk

For investor enquiries, please contact IRDesk@strategicminerals.co.uk

For press enquiries, please contact gth media relations, tobyh@gth.co.uk, +44 (0) 20 3103  3900            

 

Major Shareholders

 

Updated from company website on 23/02/2012

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