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Strategic Minerals begins legal action against Cobre major client

Strategic Minerals PLC (LON:SML) managing director John Peters speaks to Proactive London's Andrew Scott as its announced they've lodged a notice for arbitration in connection with the contract with its major client at Cobre.

''Legally we're bound not to name them ...we don't want to open up any chance of a countersuit''.

''I can say that the numbers involved are quite large, it tails over US$20mln in claims''.

''As far as we're concerned we've got to take the view that until we know we're getting this money, we're not building it into anything''.

Quick facts: Strategic Minerals PLC

Price: 0.6 GBX

Market: AIM
Market Cap: £8.81 m

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