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Strategic Minerals' receives a positive updated scoping study for 'world class project'

Strategic Minerals PLC's (LON:SML) Peter Wale talks to Proactive London after releasing an update on the Cornish Redmoor project’s economics.

Wale explains that there are actually two elements to the report from mining consultants Wardell Armstrong International, an update on the mining schedule & also for the first time, an independent financial model.

Speaking about the results, Peter explains that the 2019 study gave them an IRR of 19% with an NPV of $94m – whereas this updated study using the same metal prices now delivers a much higher IRR of 29%, with a large rise in the NPV to US$128m, which he believes are both significant material uplifts.

Quick facts: Strategic Minerals PLC

Price: 0.479 GBX

Market: AIM
Market Cap: £9.15 m

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Strategic Minerals welcomes 9th yearly rollover of access to Cobre magnetite...

Strategic Minerals PLC's (LON: SML)(USOTC:SMCDY) John Peters discusses with Proactive's Andrew Scott confirmation of the rollover of access to the magnetite stockpile in New Mexico as well as the impact of the recent significant rise in copper prices on the financial metrics of their Leigh Creek...

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