REG - Strategic Minerals - Subscription to Raise £4.7 Million

Strategic MineralsAnnouncement

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RNS Number : 2234X  Strategic Minerals PLC  19 March 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION,
RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
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THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

19 March 2026

Strategic Minerals Plc

("Strategic Minerals" or the "Company")

 

Subscription to Raise £4.7 Million

 

New investment led by prominent international investor to further expedite
accelerated development of flagship UK tungsten project

 

Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral
exploration and production company, is pleased to announce it has raised gross
proceeds of approximately £4.7 million through direct subscriptions for
134,285,712 new ordinary shares of 0.1 pence each in the Company
("Subscription Shares") at a price of 3.5 pence per new ordinary share ("Issue
Price"), (the "Subscription").

 

The Subscription was led by a prominent international investor who approached
the Company, which the Board views as a strategically important moment in the
Company's development.

 

The Issue Price represents the Company's volume weighted average price for the
30 day period to 18 March 2026 and is a discount of 16.7% to the closing
mid-market price of the Company's shares on 18 March 2026, being the latest
practicable date prior to the publication of this announcement.

 

The net proceeds of the Subscription will significantly accelerate the
Company's Redmoor Tungsten-Tin-Copper Project in Cornwall ("Redmoor"), at an
opportune time for the development of critical minerals.

 

Charles Manners, Executive Chair of Strategic Minerals, commented:

"Having been approached by a prominent international investor, the Board
decided to take the opportunity to fast-track the already accelerated
development of the Redmoor Tungsten-Tin-Copper Project.

 

"Underpinned by favourable pricing for all our minerals, this investment
represents a clear endorsement of the Company's high-quality asset base, and
its objective to develop Redmoor and the surrounding area into a leading
source of strategic and critical minerals here in the UK to provide resilience
to western world supply chains.

 

"We are delighted to welcome the investor to our register and are grateful for
their support and confidence in the Company."

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the
134,285,712 Subscription Shares to trading on AIM ("Admission"). It is
expected that Admission will become effective and dealings in the Subscription
Shares will commence on AIM at 8.00 a.m. on or around 25 March 2026
("Admission").

The Subscription Shares will be issued fully paid and will rank pari
passu in all respects with the Company's existing ordinary shares.

Following Admission, the total number of ordinary shares in the capital of the
Company in issue will be 2,818,775,969 with voting rights. This figure may be
used by shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or a change
to their interest in, the Company's issued share capital pursuant to the
Company's Articles.

For further information on the Company, please
visit www.strategicminerals.net (http://www.strategicminerals.net)  or
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:                       @StrategicMnrls (https://x.com/StrategicMnrls)
 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 Joint 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                                         strategicminerals@vigoconsulting.com

                                                          (mailto:strategicminerals@vigoconsulting.com)
 Ben Simons/Peter Jacob/Anna Sutton

 

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 (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 completed the acquisition of the Leigh Creek Copper
Mine situated in the copper rich belt of South Australia.  South Pacific
Mineral Investments Pty Ltd trading as Cuprum Metals has exercised an
exclusive Call Option to acquire 100% of the project.

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