Strategic Minerals PLC

Strategic Minerals books profits on Cobre production, continues to fund development internally

Strategic Minerals continues to use cash flow from Cobre to fund development work elsewhere

The Cobre project continues to underpin the company

Strategic Minerals PLC (LON:SML)(USOTC: SMCDY) generated a profit of US$1.47mln in the year to December 2018.

That was marginally down from the profit of US$1.59mln generated in 2017.

WATCH: Strategic Minerals kicks off first sales from Leigh Creek in Australia

However, the company funded all project development internally during 2018, so the profit number comes in the context of significant progress at the Redmoor and Leigh Creek projects.

As at 31 December 2018, Strategic Minerals had cash of US$1.84mln.

The Cobre project delivered net cash flow of US$2.163mln during the period, down from US$3.8mln in 2017.

"2018 has seen the company build on the platform that sales at Cobre provide and has sought to develop a near term, second income stream at Leigh Creek copper mine,” said managing director John Peters. 

“At the same time, it has been active in driving the Redmoor tin-tungsten project and CARE exploration.”

The shares are up by more than 20% since January.

Quick facts: Strategic Minerals PLC

Price: £0.01

Market: AIM
Market Cap: £14.53 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Strategic Minerals PLC named herein, including the promotion by the Company of Strategic Minerals PLC in any Content on the Site, the Company...



Strategic Minerals now in full control of Cornish tin mine joint venture

Strategic Minerals PLC's (LON:SML) John Peters talks Proactive London through the restructuring of their purchase of the outstanding half of the Cornwall tungsten and tin mine joint venture at Redmoor. New Age Exploration will receive an upfront cash payment of A$300,000 for its 50% stake...

on 25/7/19

2 min read