Last checked at 8 Aug 2018 12:46
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
8 August 2018
Strategic Minerals plc
("Strategic Minerals", "SML" or the "Company")
Executive Director Appointment
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, is pleased to announce that Mr Peter Wale has been appointed Executive Director of the Company with immediate effect.
The appointment of Mr Wale to Executive Director from his previous position as Non-Executive Director is reflective of his increased involvement with the Company. As Strategic Minerals has grown, Mr Wale has undertaken additional duties that include strategic planning, day-to-day business management and market communications. He has, and will continue to work, alongside John Peters, Managing Director, in the overall operational management of the Company.
Commenting, John Peters, Managing Director of Strategic Minerals, said:
"We are delighted to announce Peter's appointment as Executive Director of Strategic Minerals. His experience as an investment professional across diverse markets has proved fundamental in the management of the Company and we hope his appointment reflects not only the Company's progress to-date, but also its ambitions going forward.
"The Board and Management believes that Peter's appointment bolsters the strong team that has been assembled to drive Strategic Minerals forward, and we look forward to continuing our work together to generate significant value for shareholders of the Company."
Commenting, Peter Wale, Executive Director of Strategic Minerals, said:
"As a shareholder who has, since 2013, continued to build a significant stake in Strategic Minerals, I am enthusiastic about this opportunity to continue developing my role within the Company and thank my fellow directors for their confidence in me.
"As SML's second largest shareholder I remain invested for the long term where I believe real value will be generated for this Company.
"We are now at a point where I believe the Company's valuation versus its prospects are perhaps at their most divergent and I look forward to assisting in closing that gap in the near term as we continue to progress our strong portfolio of assets."
For further information, please contact: | ||
Strategic Minerals plc | +61 (0) 414 727 965 | |
John Peters | ||
Managing Director | ||
www.strategicminerals.net | ||
Follow Strategic Minerals on: | ||
Vox Markets: | https://www.voxmarkets.co.uk/company/SML/ | |
Twitter: | @SML_Minerals | |
LinkedIn: | https://www.linkedin.com/company/strategic-minerals-plc | |
Facebook: | https://www.facebook.com/search/top/?q=strategic%20minerals%20plc | |
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SP Angel Corporate Finance LLP | +44 (0)20 3470 0470 | |
Nominated Adviser and Broker | ||
Ewan Leggat/Laura Harrison | ||
Yellow Jersey PR | +44 (0)20 3735 8825 | |
Financial PR | ||
Charles Goodwin | +44 (0)7747 788 221 | |
Joe Burgess | +44 (0)7769 325 254 | |
Henry Wilkinson | +44 (0)7951 402 336 | |
Notes to Editors
Strategic Minerals Plc is an AIM-quoted, operating minerals company actively developing projects prospective for battery materials. It has an operation in the United States of America and development projects in the UK and Australia. The Company is focused on utilising its operating cash flows, along with capital raisings, to develop high quality projects aimed at supplying the metals and minerals being sought in the burgeoning electric vehicle/battery market.
In September 2011, Strategic Minerals acquired the Cobre magnetite tailings dam project in New Mexico, USA, a cash-generating asset, which it brought into production in 2012 and which continues to provide a revenue stream for the Company. This operating revenue stream is utilised to cover company overheads and invest in development projects orientated to supplying the burgeoning electric vehicle/battery market.
In January 2016, the portfolio was expanded with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia and the Northern Territory that are prospective for cobalt, gold, nickel sulphides and rare earth elements. The Company has since acquired all shares in Central Australian Rare Earths Pty Ltd.
In May 2016, an additional exploration asset was acquired when the Company entered into an agreement with New Age Exploration Limited to acquire up to 50% of the Redmoor Tin/Tungsten project in Cornwall, UK. This 50% acquisition was completed in February 2017 and a drilling programme completed in 2017 resulted in a significant upgrade of the resource.
In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia and is currently working to bring this into operation in 2019.