REG - Strategic Minerals - Leigh Creek – Extension to Purchaser Payment

Strategic MineralsAnnouncement

23/05/2025 07:00

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RNS Number : 8819J  Strategic Minerals PLC  23 May 2025

 

 

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 (http://www.strategicminerals.net)
 Email:                   info@strategicminerals.net (mailto:info@strategicminerals.net)

 Follow Strategic Minerals on:
 X:                       @SML_Minerals (https://twitter.com/SML_Minerals)
 LinkedIn:                https://www.linkedin.com/company/strategic-minerals-plc
                          (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:                   strategicminerals@vigoconsulting.com
                          (mailto:strategicminerals@vigoconsulting.com)

 

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)  WO(3)  Sn    Cu    Sn Eq(1)  WO(3) Eq

                                        %      %     %     %         %
 >0.45 <0.65              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. WO(3)(EQ)% = Sn% x 0.7 + WO(3) + 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 (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.

 

 

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