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Based on early 2026 reports, Strategic Minerals PLC (AIM: SML) has shown significant operational progress and financial restructuring leading into the year. As of mid-January 2026, the company's share price was trading around 1.33p to 1.39p, following a period of high volatility and positive updates.

Here are the key financial and operational highlights based on late 2025/early 2026 data:

Leigh Creek Copper Mine (LCCM) - South Australia

Asset Sale/Monetization: In late 2025, a call option was exercised by Cuprum Metals to acquire LCCM, with a total potential consideration of A$9 million.

Cash Injection: The agreement included an initial A$0.25 million payment, with a further A$1.75 million due by May 31, 2026, or upon the execution of a definitive agreement.

Redmoor Tungsten-Tin-Copper Project - Cornwall

Projected Milestones: The company is on track for a pre-feasibility study (PFS) and updated mineral resource estimate (MRE) in early 2026.

Performance: Recent drilling confirmed high-grade tungsten and copper, with preliminary metallurgical tests showing high recoveries (94.3% tungsten, 95.6% tin).

Funding: The project is supported by the UK government's Shared Prosperity Scheme.

Cobre Magnetite Operation - New Mexico

Performance: The operation continues to provide steady revenue and positive EBITDA, funding exploration activities without dilution to shareholders.

Previous Performance: The 2024 financial year saw a massive ~200% increase in revenue to $4.7m, driving a return to profitability ($1.3m profit after tax).

2026 Outlook & Financial Position

Market Position: As of Jan 16, 2026, the market capitalization was approximately £32.58 million.

Strategy: The new board has focused on resolving legacy issues, reducing debt, and focusing on the high-grade Redmoor project to drive long-term value.

Stock Trend: Despite some recent dips in January 2026, the stock has experienced significant upward movement, supported by high-grade drilling

The South Crofty tin mine is now expected to restart commercial production by mid-2028, a delay from the previously hoped-for timeline of the end of 2027. The company leading the project, Cornish Metals, provided this updated guidance in late 2025 following project reviews.

Project Progress and Timeline

Cornish Metals is actively working on several fronts to prepare the mine for operation. Key activities and expected milestones include:

Dewatering: The process of pumping water out of the flooded mine is ongoing. The mine water treatment plant was commissioned in late 2023, and dewatering is expected to reach the main lower pump station level in mid-2026.

Infrastructure Refurbishment: Refurbishment of the mine shafts and the installation of new pumping equipment are well underway. An old pumping station 350 meters underground was recently accessed and found to be intact.

Surface Works: Construction of surface facilities, including a new workshop and stores building and excavation for the processing plant, is progressing, with major surface works expected to be largely complete by early 2026.

Capital and Support: The project has received significant backing, including a £29 million investment from the UK government (via the UK National Wealth Fund).

The current work is expected to continue through 2026, after which further financing will be needed for the final construction phase. The target for first tin production remains mid-2028.

South Crofty tin mine, hope to restart production around the end of 2027, which gives a general indication of the timeframe involved for mining projects in the UK

The owner and developer of the project, Cornwall Resources Limited (CRL), a wholly owned subsidiary of the publicly traded Strategic Minerals Plc, is currently undertaking exploration and testing to determine the economic viability of the mine.

Current Status and Next Steps

Exploration: An extensive drilling program was completed by December 2025 to update the geological model and mineral resource estimate.

Metallurgical Testwork: Stage 2 metallurgical testing to refine the processing methods (froth flotation and ore sorting) is in progress, with results expected in Q1 2026.

Resource Assessment: An updated Mineral Resource Estimate (MRE) is expected in Q1 2026.

Pre-Feasibility: The current work is intended to support an eventual pre-feasibility study (PFS), which will provide a detailed economic case for the project.

The process of moving from exploration to a producing mine is multi-year, and formal production timelines are not yet public. Nearby projects, such as the South Crofty tin mine, hope to restart production around the end of 2027, which gives a general indication of the timeframe involved for mining projects in the region.

For the latest official updates, refer to the Strategic Minerals plc announcements on the London Stock Exchange website.

Cornwall Resources Ltd - Redmoor Project Update

2 Dec 2024 — Cornwall Resources Ltd - Redmoor Project Update * Strategic Minerals plc. ("Strategic Minerals", "SML" or the "Company") * Cornwal...

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Q4 & 2025 Trading Update | INN

9 Jan 2026 — Cornwall Resources * Awarded c.£764,000 UK Government grant funding from the UK Shared Prosperity Fund, which together with matche...

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Cornwall's new mining revolution

As the days, weeks & months pass checking the SP with the hope that one day it will rise again in chunks just like it dropped in chunks during the summer but……just like the National Lottery —— nothIng!

I wonder if there could be an upturn 🤔🤞💰. …… 2028 more likely

Fell - thank you

Andy M @ 10.44 - excellent post sir let’s hope the market setters take heed and set the SP to where it should be

Just got this from ii ——

Your vote counts

METALS ONE PLC

‌2026‌ ‌ANNUAL GENERAL MEETING‌

Vote by ‌26-JAN-2026‌

Any thoughts on which way to go

Roger the Dodger - Management aren’t working for shareholders they are in it for themselves - That Scarlet Pimpernel Owen climbed out the window and ran off with a load of untraceable cash whose to say the monkeys left won’t do the same

Well folks my portfolio has taken a hit this morning and the only positive is that I won £2.70 on the national lottery

It’s hit the deck boys 😢💰

If you guys take a look & Listen to the October presentation interviews on YouTube then you will see the smiling faces & hear Charles & Co discussing the strategy and positives going forward and 2028 is the big year

Fell - last May I was in both MET1 & PRE (Pensana) and they both were hovering around the same price, at the time I was looking through as much info as I could, MET1 was pushed by Stockbox, Proinvestor and others, there was not much info around PRE so I had a blood rush to the head and sold all my holding in PRE and channeled the funds into MET1 - Only if I would have sold out on MET1 and put the funds into PRE I would be very happy now - the moral of it is - don’t watch the YouTube rampers or the internet falsehoods and just go on the company’s RNS

I’ve noticed that the Market Cap had dropped dramatically since the summer of 25 who is responsible for that?

It’s going to take a heck of a lot of positive RNS to make up

Thai Boy — you make decent poi But on this one ….. Yes we have product but why has it not been sold to raise funds for at least some expenses to date?

Quite simple there’s corruption in the African continent and those who take the backhanders have their say

Rog The Snog — there are a few ramping sites out there M8, best to take notice of the SML RNS

Plopin Quickly - the SP won’t have a decent uplift until those scamming market setters have tapped their lips long enough to digest the positive RNS - 2026 is the year of hope and ——- STARMER OUT!!!

Dr Jekyll - zikes! There’s the corruption to pay off before PREM can make a profit

JokeLith - face facts m8 the price of Spodumene means Jack, truth is these African continents are full of corruption PREM will struggle when they’ve got all those money’s on their back