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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 raises £0.4m to help fund Paltridge North work

Mon, 25th Oct 2021 16:33

(Sharecast News) - Battery metals-focussed producing mineral company Strategic Minerals raised £0.4m before expenses, it announced on Monday, to help it complete required work on the Paltridge North deposit.
The AIM-traded firm said the funds were raised by way of a placing and subscription of 106,666,667 new ordinary shares at a price of 0.375p each.

It said the funds would be used for works to achieve unconditional status on the Leigh Creek Copper Mine (LCCM) programme for environmental protection and rehabilitation (PEPR), and provide working capital for the 'Deep Digital Cornwall' (DDC) project.

The company said work on the PEPR was nearing completion, in parallel with advanced funding discussions, while the DDC was continuing to progress as planned, although the rebate cycle had proven longer than anticipated.

"The directors are pleased to have undertaken this small raise with a limited number of placees to ensure the capacity of the company to prudently fund critical work to complete PEPR requirements and to continue progress in Cornwall," said managing director John Peters.

"The company considers that it will have submitted the necessary additional PEPR information prior to the end of the year and expects to be in production in the first quarter of 2022, resulting in revenue flows around mid-2022, subject to funding."

Peters said that at the same time, the company had been progressing asset-level funding discussions, which were now at an advanced stage, adding that the board expected those negotiations to be completed before the PEPR became unconditional.

"Activities at CRL's Redmoor Tin and Tungsten project continue progressing and the company considers that 2022 shows excellent potential for this asset to achieve meaningful value recognition."

At 1606 BST, shares in Strategic Minerals were down 1.18% at 0.42p.
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1 Jun 2020 09:17

Arbitrator finds in favour of Strategic Minerals subsidiary

(Sharecast News) - Strategic Minerals announced on Monday that the appointed arbitrator has awarded its wholly-owned subsidiary Southern Minerals Group (SMG) $21.93m (£17.71m) in damages and costs, exclusive of additional interest to be calculated, in its claim against a "major client" at the Cobre magnetite stockpile.

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21 May 2020 16:29

Strategic Minerals completes 'important step' in reopening of Leigh Creek

(Sharecast News) - Strategic Minerals announced on Thursday that its wholly-owned subsidiary Leigh Creek Copper Mine has lodged a draft programme for environment protection and rehabilitation (PEPR) with the South Australian government.

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2 Mar 2020 18:11

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2 Mar 2020 13:36

Strategic Minerals To Get Court Decision Soon; Rules Out Fundraise

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14 Jan 2020 15:04

Strategic Minerals reports fall in sales at Cobre ahead of arbitration

(Sharecast News) - Battery minerals producing company Strategic Minerals updated the market on its cash position and ore sales at the Cobre magnetite operation in New Mexico for the quarter ended December on Tuesday, reporting continued improving demand from existing Cobre clients.

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14 Jan 2020 10:53

Strategic Minerals Hopes Cobre Arbitration Date Will Be Set Soon

Strategic Minerals Hopes Cobre Arbitration Date Will Be Set Soon

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26 Nov 2019 14:31

Strategic Minerals Gets R&D Tax Rebate For Redmoor Exploration

Strategic Minerals Gets R&D Tax Rebate For Redmoor Exploration

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26 Nov 2019 08:31

Strategic Minerals pleased with latest R&D tax rebate

(Sharecast News) - Producing battery minerals company Strategic Minerals has received a rebate of £0.25m from Her Majesty's Revenue and Customs (HMRC) in relation to research and development tax relief claims, it announced on Tuesday.

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22 Nov 2019 14:52

Strategic Minerals reports on de-risking progress at Leigh Creek

(Sharecast News) - Battery minerals-focussed company Strategic Minerals updated the market on its operations at the Leigh Creek Copper Mine on Friday, including the results from a completed feasibility study on the first stage development at Paltridge North, and an updated feasibility study on the Lynda and Lorna Doone deposits.

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22 Nov 2019 14:32

Strategic Minerals Still Awaiting Funding Deal For Leigh Creek Mine

Strategic Minerals Still Awaiting Funding Deal For Leigh Creek Mine

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16 Oct 2019 11:44

Strategic Minerals Optimistic As Demand For Cobre Produce Improves

Strategic Minerals Optimistic As Demand For Cobre Produce Improves

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8 Oct 2019 15:25

Strategic Minerals makes first payment to New Age Exploration early

(Sharecast News) - Battery minerals developer Strategic Minerals announced on Tuesday that the first quarterly payment of AUD 0.3m (£0.17m) has been made to New Age Exploration.

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2 Oct 2019 12:17

DIRECTOR DEALINGS: Strategic Minerals Director Peter Wale Buys Shares

DIRECTOR DEALINGS: Strategic Minerals Director Peter Wale Buys Shares

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1 Oct 2019 15:47

Strategic Minerals Sinks To Loss On Charges And Revenue Pain

Strategic Minerals Sinks To Loss On Charges And Revenue Pain

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23 Sep 2019 15:05

Strategic Minerals Starts Arbitration Proceedings Against Cobre Client

Strategic Minerals Starts Arbitration Proceedings Against Cobre Client

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