OnwardsAnd Upwards9 Feb 2026 10:04
Based on recent updates as of early 2026, Strategic Minerals PLC is currently in the development and exploration phase for its flagship Redmoor Tungsten-Tin-Copper project in Cornwall, with production not yet scheduled.
Key, up-to-date information regarding production and development:
Redmoor Project Timeline: The company is currently accelerating Redmoor towards a pre-feasibility study (PFS). An updated Mineral Resource Estimate (MRE) and a PFS-ready business case are on track for early 2026.
Drilling Status: A 2025 drilling programme was completed in December 2025, which confirmed high-grade tungsten and tin, with further results released in January 2026.
Funding: In January 2026, the company raised £4 million in a placing and subscription, part of which is intended to advance the Redmoor project.
Current Operations: Strategic Minerals continues to generate revenue from its Cobre magnetite operation in New Mexico, USA, which has been in production since 2012 and is secured until March 2029.
Leigh Creek Copper Mine (LCCM): The company is currently in the process of selling this asset, with a potential further payment due by 31 May 2026.
While 2025 was described as a "transformational year" for Redmoor, actual mining production at this site is pending the completion of the feasibility studies and subsequent financing