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Pin to quick picksStrategic Minerals Share News (SML)

Share Price Information for Strategic Minerals (SML)

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Strategic Minerals pleased with work at Redmoor

Wed, 22nd Aug 2018 10:55

(Sharecast News) - Producing mineral company Strategic Minerals updated the market on its interest in the Redmoor tin tungsten project in Cornwall on Wednesday, reporting that its joint venture partner New Age Exploration (NAE) had now funded its 50% of the Phase 1 development costs.The AIM-traded firm said that as such, its previous underwriting of all of Phase 1 funding had been cancelled, reducing its current commitment by half to £0.33m, which it had already funded.It said Phase 1 of the 2018 drilling programme had now started, and was aimed at extending the Redmoor High Grade Inferred Resource within the broader sheeted vein system.Two holes had been completed of the seven-hole programme for 4,000m, with two further holes underway.It reported "encouraging mineralisation" intersected in both completed holes, with assay results expected in September.Both drilling rigs were said to be performing "well", with Phase 1 drilling expected to be completed in early October, slightly ahead of schedule.Results from the full Phase 1 programme were expected to be available in November.A cash payment of £0.1m, net of fees, was received from the UK Government for research and development tax relief for the years ending June 2016 and June 2017, the firm added.A further research and development claim for the year ending June 2018 would be finalised and submitted this year.In September, a decision by the joint venture partners SML and NAE was expected to be made on drilling Phase 2 of the 2018 programme - a further eight holes for 3,500m.The board said that would be aimed at further extending the Redmoor high-grade resource, and increasing the level of confidence of a "significant" part of the resource to an indicated mineral resource classification."I am extremely pleased with the steady progress being made at Redmoor," said Strategic managing director John Peters."The preliminary results from the first two holes, the funding from our joint venture partner and the receipt of research and development tax relief all bode well for the future of the project."Peters said the 2018 drilling programme was designed with the expectation of delineating a sufficient resource to justify proceeding to a pre-feasibility study in 2019."While the board and management consider that the Redmoor project represents significant value, it believes that the provision of the pre-feasibility study will provide the necessary basis for the market to appropriately value this asset."The company looks forward to updating the market on progress at Redmoor throughout the rest of the year."
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Strategic Minerals upbeat on UK critical minerals report

(Sharecast News) - Strategic Minerals was upbeat on Friday after news that tungsten and tin, key components of its wholly-owned Redmoor polymetallic tungsten deposit, retained their designation as 'critical minerals' in the 2024 UK Criticality Assessment.

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28 Nov 2024 14:34

Strategic Minerals extends Cobre access for two more years

(Sharecast News) - Strategic Minerals announced a two-year extension to its access agreement for the Cobre magnetite stockpile in New Mexico on Thursday, pushing the expiration date from 31 March 2027 to 31 March 2029.

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28 Nov 2024 12:24

IN BRIEF: Strategic Minerals gets two-year extension for Cobre access

Strategic Minerals PLC - Says its access to the Cobre magnetite stockpile in New Mexico has been extended by two years to March 31, 2029. The firm has also received a new purchase order for 2025 for up to 30,000 tonnes from one of its "major clients". Executive Director Mark Burnett says: "Combined with a significant new purchase order, this [extension] should underpin the revenue profile for Strategic Minerals into 2025 and beyond and provide scope to expand operations across the portfolio of Strategic Minerals assets." It expects full-year sales at Cobre to exceed USD4.5 million.

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Strategic Minerals names largest shareholder Charles Manners as chair

(Alliance News) - Strategic Minerals PLC on Monday announced the appointment of two significant shareholders to the board.

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Strategic Minerals signs new licence for mineral rights in Cornwall

(Alliance News) - Strategic Minerals PLC on Friday announced subsidiary Cornwall Resources Ltd has signed a new exploration licence and mining option for mineral rights in Cornwall, England.

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16 Jul 2024 21:54

IN BRIEF: Strategic Minerals chair retires, MD made interim chair

Strategic Minerals PLC - London-based mining and exploration company - Chair Alan Broome retires effective immediately. Managing Director John Peters to assume role of interim chair until board composition is finalised, expected this quarter. Company also proposes appointment of Jonathan Reynolds as independent technical non-executive director. Expects to complete appointment by end of August. Reynolds will replace Jeff Harrison who retired in April 2023. Says company had not been able to fill the role until recent turnaround in sales at its Cobre operation in New Mexico. Plans to add additional UK-based non-executive director with strong mining background.

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9 Jul 2024 11:48

Strategic Minerals shares soar amid record quarterly Cobre sales

(Alliance News) - Strategic Minerals PLC on Tuesday upgraded guidance following strong sales from the Cobre magnetite stockpile operation.

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9 Jul 2024 11:05

Strategic Minerals reports record sales in June quarter

(Sharecast News) - Strategic Minerals reported record-breaking sales for the quarter ended 30 June on Tuesday, driven by a significant increase in demand at its Cobre operation.

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