REG - Strategic Minerals - Q2 2025 Sales & Cash Balances

Strategic MineralsAnnouncement

14/07/2025 07:00

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RNS Number : 8976Q  Strategic Minerals PLC  14 July 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.

 

14 July 2025

 

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Q2 2025 Sales & Cash Balances

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), an international mineral
exploration and production company, is pleased to provide the following update
on the Company's ore sales at the Cobre magnetite operation in New Mexico,
USA ("Cobre") for the quarter ended 30 June 2025 ("Q2 2025").

Highlights

·    Q2 2025 sales volumes of 11,305 tonnes (Q2 2024: 18,934 tonnes), a
decrease of 40% arising from a 10-day shutdown due to wildfires (the "Trout
Fire" - see below)

·    Q2 2025 revenue of US$0.82m (Q2 2024: US$1.29m), a decrease of 36%

·    Board confident of making up shortfall during wildfire shutdown and
of strong outturn for the full year

·    Cash balance of US$1.59m as at 30 June 2025 (30 June 2024: US$0.28m)

 

Mark Burnett, Executive Director of Strategic Minerals, commented:

"The Trout Fire is nearly fully contained, and our thoughts go out to those
who have been affected. Operations at Cobre resumed after a 10-day shutdown.
Even with that pause, revenues in the first half of 2025 are only marginally
below the strong performance of the first half of 2024. With our expectation
of making up revenues that were lost during the shutdown, we're confident of a
strong outturn across the year and a continued strengthening of the Cobre
operation which provides an attractive and sustainable revenue stream as we
focus our exploration efforts on the Redmoor Tungsten-Tin-Copper Project in
Cornwall where drilling began last month."

 

Sales update: Cobre magnetite tailings operations

The Company recorded sales volumes in Q2 2025 of 11,305 tonnes, equating to
US$0.82m of sales revenue. During Q2 2025, Cobre operations were shut down for
10 days between 17-27 June 2025 due to wildfires (the Trout Fire) caused by
extreme drought conditions prompting an emergency response from state
officials including the suspension of ore shipments via affected roads.

There was no impact to the Company's site or workforce and shipments have
returned to normal, with the Company expecting to make up the shortfall in the
quarter to 30 September 2025.

Sales comparisons on quarterly and annual periods, along with associated
volume details, are shown in the table below:

       Tonnage                                       Sales (US$'000)
 Year  3 months to Jun       12 months to Jun        3 months to Jun  12 months to Jun
 2025  11,305                67,794                  818              4,616
 2024  18,935                40,398                  1,296            2,933
 2023  4,162                 23,856                  367              1,898

 

Cash Balances

As at 30 June 2025, the Company's cash balance was US$1.59m.

 

 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

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 (2012)
Compliant 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
the copper rich belt of South Australia. The Company has entered into an
exclusive Call Option with Axis Mining & Minerals Pty Ltd to acquire 100%
of the project.

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