23rd May 2025 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.
23 May 2025
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Leigh Creek Copper Mine - Extension to Purchaser Payment
Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, announces that further to its announcement of 24 April 2025, it has agreed to an extension of 14 days with the Purchaser in respect of the payment to Strategic Minerals of A$100,000 for an exclusive call option to acquire 100% of the Leigh Creek Copper Mine (the "Call Option").
For further information, please contact: |
| |
Strategic Minerals plc | +44 (0) 207 389 7067 | |
Mark Burnett | ||
Executive Director | ||
Website: | www.strategicminerals.net | |
Email: | ||
| ||
Follow Strategic Minerals on: | ||
X: | @SML_Minerals | |
LinkedIn: | https://www.linkedin.com/company/strategic-minerals-plc | |
SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 | |
Nominated Adviser and Broker | ||
Matthew Johnson/Charlie Bouverat/Grant Barker | ||
Zeus Capital Limited | +44 (0) 203 829 5000 | |
Joint Broker | ||
Harry Ansell/Katy Mitchell | ||
Vigo Consulting | +44 (0) 207 390 0234 | |
Investor Relations | ||
Ben Simons/Peter Jacob/Anna Sutton | ||
Email: | ||
Notes to Editors
About Strategic Minerals Plc
Strategic Minerals plc (AIM: SML; USOTC: SMCDY) is an AIM-quoted, producing minerals company, actively developing strategic projects in the UK, United States and Australia.
In 2019, the Company completed the 100% acquisition of Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project.
The Redmoor Project is situated within the historically significant Tamar Valley Mining District in Cornwall, United Kingdom, with a JORC Compliant (2012) Inferred Mineral Resource Estimate published 14 February 2019:
Cut-off (SnEq%) | Tonnage (Mt) | WO3 % | Sn % | Cu % | Sn Eq1 % | WO3 Eq % |
>0.45 | 1.50 | 0.18 | 0.21 | 0.30 | 0.58 | 0.41 |
>0.65 | 10.20 | 0.62 | 0.16 | 0.53 | 1.26 | 0.88 |
Total Inferred Resource | 11.70 | 0.56 | 0.16 | 0.50 | 1.17 | 0.82 |
1 Equivalent metal calculation notes; Sn(Eq)% = Sn% x 1 + WO3% x 1.43 + Cu% x 0.40. WO3(EQ)% = Sn% x 0.7 + WO3 + Cu% x 0.28. Commodity price assumptions: WO3 US$ 33,000/t, Sn US$ 22,000/t, Cu US$ 7,000/t. Recovery assumptions: total WO3 recovery 72%, total Sn recovery 68% & total Cu recovery 85% and payability assumptions of 81%, 90% and 90% respectively
More information on Cornwall Resources can be found at: https://www.cornwallresources.com
In September 2011, Strategic Minerals acquired the distribution rights to the Cobre magnetite project in New Mexico, USA, through its wholly owned subsidiary Southern Minerals Group. Cobre has been in production since 2012 and continues to provide a sustainable revenue stream for the Company.
In March 2018, the Company acquired the Leigh Creek Copper Mine situated in a copper rich belt of South Australia. In April 2025, the Company signed a non-binding Heads of Agreement to sell the Leigh Creek Copper Mine.
Related Shares:
Strategic Minerals