Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Strategic Minerals to be self-sufficient this year – MD

John Peters, managing director of Strategic Minerals (LON:SML, OTC:SMCDY), says a key component of the company’s strategy is limiting overheads.  The aim is to reduce expenditure to below the operating profit that may be achieved from the Cobre tailings project in New Mexico.

Peters has tightened management fees, taken a pay cut himself and is being prudent with the company’s  almost US$1mln cash by stopping activity at the Tatu coal project in New Zealand and putting on hold discussions relating to the Wanbao coal mine in China.

“If we need money at any point in time it’s project specific.  I’m not going to go out and raise funds to cover overheads. That’s not what we’re about.”

 
Meet FERRUM CRESCENT LIMITED, Medusa Mining Limited, Wishbone Gold PLC and Condor Gold PLC at our event, London, 08 September 2016. Register here »
Sarah_55b0a64c2a6b3.jpg
Why Invest In Strategic Minerals PLC? Read More Here

Register here to be notified of future Strategic Minerals PLC articles
View full SML profile

Strategic Minerals PLC Timeline

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.