viewStrategic Minerals PLC

Strategic Minerals books profits on Cobre production, continues to fund development internally

Strategic Minerals continues to use cash flow from Cobre to fund development work elsewhere

The Cobre project continues to underpin the company

Strategic Minerals PLC (LON:SML)(USOTC: SMCDY) generated a profit of US$1.47mln in the year to December 2018.

That was marginally down from the profit of US$1.59mln generated in 2017.

WATCH: Strategic Minerals kicks off first sales from Leigh Creek in Australia

However, the company funded all project development internally during 2018, so the profit number comes in the context of significant progress at the Redmoor and Leigh Creek projects.

As at 31 December 2018, Strategic Minerals had cash of US$1.84mln.

The Cobre project delivered net cash flow of US$2.163mln during the period, down from US$3.8mln in 2017.

"2018 has seen the company build on the platform that sales at Cobre provide and has sought to develop a near term, second income stream at Leigh Creek copper mine,” said managing director John Peters. 

“At the same time, it has been active in driving the Redmoor tin-tungsten project and CARE exploration.”

The shares are up by more than 20% since January.

Quick facts: Strategic Minerals PLC

Price: 0.6 GBX

Market: AIM
Market Cap: £8.81 m


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Strategic Minerals PLC named herein, including the promotion by the Company of Strategic Minerals PLC in any Content on the Site, the Company...



Strategic Minerals reports continued operations and steady sales at Cobre...

Strategic Minerals PLC's (LON:SML) John Peters speaks to Proactive London's Andrew Scott after reporting increased underlying sales at its Cobre iron ore tailings project in New Mexico. He says the operation introduced social distancing measures early, which has allowed it to stay open even...

on 16/4/20

2 min read