IN BRIEF: Strategic Minerals expects annual profit despite revenue dip

Wed, 26th Jan 2022 21:48

Strategic Minerals PLC - London-based exploration and production company - For 2021, annual sales revenue from the Cobre magnetite operation dropped to USD2.6 million from USD3.0 million the year before, due to a drop in demand as a major client expressed its wish to rundown a significant magnetite stockpile.

However, despite the drop in sales, the company expects to report a post-tax profit.

Current stock price: 0.30 pence

12-month change: down 40%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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