Strategic Minerals reports fall in Cobre sales but expects Leigh Creek to begin production in coming months
A profit is expected to be reported for the group for 2021, subject to audit, with annual sales revenue from Cobre of US$2.61mln
Company
Strategic Minerals PLC
LON:SML
Strategic Minerals is an AIM-quoted minerals explorer and producer. Its primary focus is accelerating the development of the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK. Redmoor is Europe’s highest grade undeveloped tungsten deposit and the second highest globally. Strategic Minerals’ strategy is to develop Redmoor into a leading source of critical and strategic minerals to provide resilience to western supply chains. Strategic Minerals is also underpinned by a revenue generating asset, with long-term distribution rights to the Cobre magnetite stockpile in New Mexico, USA which has been in production since 2012.
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Strategic Minerals lodges revised environmental program for Leigh Creek copper mine
Evaluation work carried out for the application provided an additional boost for the project as it identified that some waste rock has a low capacity to produce acid, meaning it can be combined with run-of-mine waste
Strategic Minerals looks at convertible for Leigh Creek funding
"The company is confident that 2022 will see the recommencement of production at Leigh Creek"
Strategic Minerals identifies more high-grade tin to the west of Redmoor deposit in Cornwall
The high tin grades were found at or near the surface
Strategic Minerals says magnetite sales from Cobre operation remain strong
"Cobre sales remain strong and the company continues to move its projects forward,” said managing director John Peters
Strategic Minerals PLC raises £400,000 for Leigh Creek and the Deep Digital Cornwall project
Strategic Minerals is supported by a long-standing cash-generative project in America
Strategic Minerals eyes early 2022 for Leigh Creek operations
Discussions are underway over a US$10mln loan facility with a global bank
Strategic Minerals PLC boosts profits in first half of 2021
Strategic Minerals has a diverse portfolio of assets
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Strategic Minerals encounters significant tin and tungsten mineralisation at Redmoor
Strategic Minerals is already generating profits from operations in North America
Strategic Minerals announces potential for partial recovery of arbitrated claim for US$21.9mln from CVI
"It is currently not possible for the company to quantify either the potential settlement amount, if any, or its likely timing," said managing director John Peters
Strategic Minerals reports solid production at Cobre operation
Sales over the twelve months were US$2.89mln with cash holdings rising slightly
Strategic Minerals gets conditional environmental approval at Leigh Creek
SML said that the conditions associated with the approval were expected
Strategic Minerals swings into profit as Cobre sales rise
The AIM-listed firm reported a pre-tax profit for 2020 of US$0.45mln, swinging from a loss of US$0.85mln in 2019, while sales at the Cobre site in New Mexico rose 20% during the year
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Strategic Minerals to seek ASX listing for Leigh Creek within a year
Debt funding of A$10mln is being sought to get the mine into production
Strategic Minerals optimistic as copper price rises
Strategic Minerals has a portfolio of projects in New Mexico, UK and Australia
Strategic Minerals says annual ore sales from Cobre operation rises 12%
Talks are continuing regarding the funding of the Leigh Creek copper mine in Australia and the Redmoor tin and tungsten project in Cornwall
Strategic Minerals secures ninth roll-over of profitable Cobre magnetite operations, updates on valuation boost at Leigh Creek
Strategic Minerals has a strong track record of cash generation from Cobre