Strategic Minerals optimistic as copper price rises

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  • Strategic Minerals gets conditional environmental approval at Leigh Creek
  • Strategic Minerals and Cornwall Resources present plan after securing funding for Cornish project
copper wire

Quick facts: Strategic Minerals PLC

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Strategic Minerals is a profitable operating minerals company actively developing projects tailored to materials expected to benefit from strong demand in the future.

It has three main areas of operations – the Southern Minerals Group in New Mexico, the Leigh Creek Copper mine in Australia and Cornwall Resources in the United Kingdom. All projects are 100% owned by the company.

12 Jul 2021

() said its Leigh Creek Copper Mine (LCCM) has been granted conditional approval for its Programme for Environmental Protection and Rehabilitation on the Paltridge North deposit.

The Australian energy department gave the go-ahead subject to several items to be reviewed plus a deposit of A43.7mln and payment of A$81,000 to a native vegetation fund.

SML said that the conditions associated with the approval were expected and reflected in LCCM’s application.

The bond requirement is larger than catered for in the company’s financial modelling, it added, but is comfortable given the level of funding being sought to restart production and especially given the boost to likely profitability from the recent increase in the copper price and US/A$ exchange rate.

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29 Jun 2021

() has reported that it swung into profit in 2020 amid an upsurge in sales from its Cobre operation in New Mexico, US.

In its results for the year to December 31, the AIM-listed firm reported a pre-tax profit of US$0.45mln, swinging from a loss of US$0.85mln in 2019. Meanwhile, the firm said its unrestricted cash position at the end of the period was US$0.83mln, up from US$0.52mln a year ago.

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25 Jun 2021

() said it wants to list its Leigh Creek copper project (LCCM) on the Australian Stock Exchange within a year.

Ahead of that, it is looking to raise A$10mln in debt funding to bring the Australian prospect into production in the second half of 2021.

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16 Feb 2021

‘s ()(USOTC: SMCDY) Peter Wale and Brett Grist from Cornwall Resources present their growth strategy to Proactive London.

Wale and Grist deliver their strategic plans for the project, their 100%-owned subsidiary Cornwall Resources Limited which has been notified that the ‘Deep Digital Cornwall’ project led by the University of Exeter’s Camborne School of Mines, has been awarded funding by the European Regional Development Fund.

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Strategic Minerals focused on restarting production at Leigh Creek after…

Strategic Minerals PLC’s (LON:SML) chairman Alan Broome speaks to Proactive following release of its 2020 accounts. The numbers reveal SML reported a profit in the year amid an upsurge in sales from its Cobre operation in New Mexico, US. Looking ahead SML’s focus is restarting production at its…

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