REG - Strategic Minerals - Cobre Access Extended and New Purchase Order

Strategic MineralsAnnouncement

28/11/2024 07:00

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RNS Number : 9225N  Strategic Minerals PLC  28 November 2024

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.

 

28 November 2024

Strategic Minerals plc

("Strategic Minerals", "SML" or the "Company")

Cobre Access Extended Until 31 March 2029 and new 2025 Purchase Order

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing minerals company,
is pleased to announce the extension of its access to the Cobre magnetite
stockpile in New Mexico from 31 March 2027 to 31 March 2029 and a new
significant purchase order for 2025.

From 2017, Strategic Minerals has repeatedly extended access to the magnetite
stockpile at Cobre, New Mexico, through its wholly owned subsidiary Southern
Minerals Group ("SMG"), providing a long-term revenue stream for the Company.

The latest extension demonstrates the continued high-level of operational
performance maintained by the SMG team on the ground and will allow SML to
explore opportunities to optimise revenues and cash flow going forward.

The timing of the extension also coincides with the receipt of a new purchase
order for 2025 of up to 30,000 tonnes from one of SMG's major clients, which
contributes substantially to the forward-looking revenue profile.

Sales at Cobre continue to perform well with management confident of exceeding
full year sales of US$4.5m. Further details will be provided in the Company's
next quarterly update scheduled for Q1 2025.

 

Commenting, Mark Burnett, Executive Director of Strategic Minerals, said:

"The extension of access at Cobre to 31 March 2029 is a huge achievement by
the excellent SMG team on the ground. Combined with a significant new purchase
order, this should underpin the revenue profile for SML into 2025 and beyond
and provide scope to expand operations across the portfolio of SML assets."

 For further information, please contact:

 Strategic Minerals plc                                   +44 (0) 207 389 7067
 Mark Burnett
 Executive Director
 Website:               www.strategicminerals.net (http://www.strategicminerals.net)
 Email:                 info@strategicminerals.net (mailto:info@strategicminerals.net)

 Follow Strategic Minerals on:
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 SP Angel Corporate Finance LLP                           +44 (0) 20 3470 0470
 Nominated Adviser and Broker
 Matthew Johnson

 Charlie Bouverat

 Grant Barker

 

Notes to Editors

Strategic Minerals plc is an AIM-quoted, producing minerals company, actively
developing strategic projects in the UK, United States and Australia.

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.

 

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