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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 GBP890,000 As Awaits Client Payment

Tue, 25th Jun 2019 14:29

(Alliance News) - Strategic Minerals PLC on Tuesday said it has raised GBP890,000 through a 63.6 million share placing and subscription priced at 1.4 pence per share to tide the company over while it awaits payment from a client.

Shares in Strategic Minerals were down 7.5% at 1.62 pence in afternoon trade.

The producing mineral company will used the money to close the purchase of the remaining shares in Cornwall Resources Ltd and for working capital in the development of its Leigh Creek copper mine project in South Australia.

Strategic Minerals said it still views the USD4.1 million payment owed to its by a major client of its Cobre plant as "imminent" and capable of being "received at any time".

Chair Alan Broome said: "This modest placing has been undertaken as we await the anticipated receipt of over USD4 million from the Cobre client. SML appreciates the continued backing of our largest shareholder, as well as from another large, existing investor. The remaining participants in the placing consisted of the board and the wider SML team.

He added: "We remain in close contact with our Cobre client and believe payment may occur at any time. However, we are carefully preparing to progress a claim for substantial potential lost profits, should payment not be forthcoming in the near future."

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9 Nov 2020 14:35

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16 Oct 2020 06:59

IN BRIEF: Strategic Minerals Notes Strong Cobre Revenue

IN BRIEF: Strategic Minerals Notes Strong Cobre Revenue

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12 Oct 2020 13:56

Strategic Minerals upbeat on third quarter progress at Cobre

(Sharecast News) - Strategic Minerals updated the market on its third quarter on Monday, reporting "sustained solid" sales growth in the three months ended 30 September, with a 55% year-on-year rise in sales revenue at the Cobre, New Mexico magnetite operation.

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Strategic Minerals upbeat on latest study from Redmoor

(Sharecast News) - Battery minerals company Strategic Minerals announced on Tuesday that its wholly-owned subsidiary Cornwall Resources (CRL) has received a positive updated mining scoping study and financial assessment from its consultants Wardell Armstrong International (WAI).

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15 Sep 2020 14:01

Strategic Minerals Swings To Interim Profit, Confident On Second Half

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24 Aug 2020 14:32

IN BRIEF: Strategic Minerals Expects Updated Redmoor Financial Model

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24 Aug 2020 12:20

Strategic Minerals upbeat on progress at Redmoor

(Sharecast News) - Strategic Minerals updated the market on progress at its Redmoor Tin and Tungsten project on Monday, which is held by its wholly-owned subsidiary Cornwall Resources (CRL).

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14 Jul 2020 21:49

IN BRIEF: Strategic Minerals Sales Surge In Second Quarter Of 2020

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25 Jun 2020 18:10

IN BRIEF: Strategic Minerals Becomes Debt Free After Loan Repayment

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Strategic Minerals Swings To Annual Loss On Impairment Charges

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8 Jun 2020 15:38

Strategic Minerals Secures GBP100,000 From Broker Option

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Strategic Minerals Raises GBP1 Million Via Equity Issue

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