Most junior mines have no cash flow31 May 2026 08:53
The deadline is today. Have Strategic got yet more more for further development. Could be a great RNS this week.
Strategic own this mine and to me have made a good deal for the company while yet again generating good sums of money to keep Redmoor running at 100 mph. Not the end of the world if it is pushed back but reading between the lines highly unlikely as Cuprum metals want to go into production this year.
The Leigh Creek Copper Mine (LCCM) in South Australia is currently undergoing an ownership transition and restart following a period of care and maintenance. Australian mining company Cuprum Metals is advancing the project toward production with a definitive acquisition deadline set for May 31, 2026.Key Project Updates:Ownership Transition: In late December 2025, Cuprum Metals exercised its option to acquire the mine from the UK-based Strategic Minerals plc.Transaction Status: Cuprum Metals made an initial deposit of A$150,000, with the second and final acquisition installment of A$1.75 million scheduled to conclude by May 31, 2026. The total sale package could realize up to A$5.9 million for Strategic Minerals in cash and shares.Restart Strategy: Bolstered by favorable copper market fundamentals, both companies have expressed confidence in restarting operations. Cuprum plans to use low-cost heap leaching and Kennecott cone reactors, initially targeting a production capacity of 100 tonnes of cement copper per month.Permitting Advantage: The mine benefits from an unusually high level of regulatory readiness for the Flinders Ranges region, including a fully approved Program for Environmental Protection and Rehabilitation (PEPR).