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viewStrategic Minerals PLC

Director Share Purchase

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RNS Number : 3614O
Strategic Minerals PLC
01 October 2019
 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

1 October 2019

Strategic Minerals plc

("Strategic Minerals", "SML" or the "Company")

Director Share Purchase

 

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, has been informed that, Peter Wale, Executive Director, acquired today a total of 3,514,942 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at an aggregated price of 0.719 pence per Ordinary Share.

Following this acquisition, Mr. Wale has a total beneficial interest in 58,017,266 Ordinary Shares, representing 3.95% of the Company's issued share capital.

 

PDMR Dealing

 

1.1   1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Mr. Peter Wale

1.2   2.     

Reason for the notification

a)

Position/status:

Executive Director

b)

Initial notification/Amendment:

Initial notification

1.3   3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Strategic Minerals plc

b)

LEI:

213800DICA5NPVOJT776

1.4   4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Ordinary shares of 0.1p each

 

GB00B4W8PD74

b)

Nature of the transaction:

Purchase of shares

c)

Price(s) and volume(s):

Price(s)

Volume(s)

i. 0.6849 pence

ii.0.7199 pence

iii.0.7290 pence

iv.0.7349 pence

i. 700,000

ii. 1,000,000

iii.1,000,000

iv.814,942

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price

Volume

0.719 pence

3,514,942

 

e)

Date of the transaction:

1 October 2019

 

f)

Place of the transaction:

London Stock Exchange, AIM (XLON)

 

For further information, please contact:

 

 

 

Strategic Minerals plc

+61 (0) 414 727 965

John Peters

 

Managing Director

 

Website :

www.strategicminerals.net

Email :

[email protected]

 

 

Follow Strategic Minerals on:

 

Vox Markets:

https://www.voxmarkets.co.uk/company/SML/

Twitter:

@SML_Minerals

LinkedIn:

https://www.linkedin.com/company/strategic-minerals-plc

Facebook:

https://www.facebook.com/search/top/?q=strategic%20minerals%20plc

 

 

SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Nominated Adviser and Broker

 

Ewan Leggat

 

Lindsay Mair

 

Stephen Wong

 

     

 

Notes to Editors

Strategic Minerals plc is an AIM-quoted, operating minerals company actively developing projects prospective for battery materials. It has an operation in the United States of America and Australia along with development projects in the UK and Australia. The Company is focused on utilising its operating cash flows, along with capital raisings, to develop high quality projects aimed at supplying the metals and minerals being sought in the burgeoning electric vehicle/battery market.

In September 2011, Strategic Minerals acquired the distribution rights to the Cobre magnetite tailings dam project in New Mexico, USA, a cash-generating asset, which it brought into production in 2012 and which continues to provide a revenue stream for the Company. This operating revenue stream is utilised to cover company overheads and invest in development projects orientated to supplying the burgeoning electric vehicle/battery market.

In January 2016, the portfolio was expanded with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia prospective for cobalt, nickel sulphides and rare earth elements. The Company has since acquired all shares in Central Australian Rare Earths Pty Ltd. In September 2018, the Company entered contracts for the sale of certain CARE tenements identified as gold targets.

In May 2016, the Company entered into an agreement with New Age Exploration Limited and, in February 2017, acquired 50% of the Redmoor Tin-Tungsten project in Cornwall, UK. The bulk of the funds from the Company's investment were utilised to complete a drilling programme that year. The drilling programme resulted in a significant upgrade of the resource. This was followed in 2018 with a 12-hole 2018 drilling programme has now been completed and the resource update that resulted was announced in February 2019. In March 2019, the Company entered into arrangements to acquire the balance of the Redmoor Tin-Tungsten project in Cornwall. This was completed on 24 July 2019

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia and brought the project into limited production in April 2019, with full production expected in 2020.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Strategic Minerals PLC

Price: 0.5625

Market: AIM
Market Cap: £8.26 m
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Strategic Minerals completes feasibility study for first stage of...

Strategic Minerals PLC's (LON:SML) John Peters updates on their operations at Leigh Creek, including the  results from a completed feasibility study on the first stage development at Paltridge North. Peters tells Proactive London's Andrew Scott that full scale production will start with...

3 hours, 34 minutes ago