Strategic Minerals said sales of iron ore from the Cobre site in New Mexico to its largest customer returned to normal in February and March after disruption earlier in the year.
March quarter and annual sales were US$0.7mln and US$2.5mln respectively but were affected by a weaker January as its client destocked, Strategic said in a statement.
Strategic added it had been told last year the client wanted to run down a significant magnetite stockpile built up at its plant.
Demand returned to previous levels in February and March.
The miner recently announced it was granted access to the tailings at Cobre for another five years, until 2027, while its Redmoor exploration licence in Cornwall had been extended to 2037.
At Leigh Creek in Australia, Strategic's third major project, discussions are ongoing with the authorities over permitting, said the statement.
John Peters, Strategic Minerals managing director, added: "The resumption of demand from the largest Cobre client combined with the long-awaited formal extension of access for five years, has placed the company on a solid cash flow footing for the years ahead.
"With an expectation of recommencement of operations at Leigh Creek this year and ever-greater focus on mining in Cornwall combining with our licence extension, the board and management are looking forward to a promising future for the company in 2022."
The group’s cash balance was US$0.615mln as of 31 March 2022