UK's Strategic Minerals H1 revenue falls on lower purchase volume

Strategic Minerals

25/09/2026 07:10

Overview
UK mineral producer's H1 revenue fell 20% due to lower sales volumes early in period
Company posted H1 net loss after tax, impacted by non-cash share-based payment charge
Raised £8.7 mln in equity to fund Redmoor Project, increasing mineral resource estimate

Outlook
Company says it is fully funded for planned activities through pre-feasibility at Redmoor
Priorities for 2026-2027 include 22,500m drilling, testwork, and resource update at Redmoor
Company cites strong tungsten prices and supply constraints as supportive for Redmoor strategy

Result Drivers
LOWER COBRE SALES VOLUMES - Co said revenue decline was due to temporary fall in purchase volumes from largest buyer in Jan and Feb, which have since returned to average levels
SHARE-BASED PAYMENT CHARGE - Loss before tax included a non-cash share-based payment charge of $812,000 relating to options granted in Feb 2026
HIGHER OVERHEADS - Group overhead expenses increased as co expanded technical team and site facilities for Redmoor project

Company press release: ID:nRSY2471Wa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
$1.59 mln
 
H1 Net Loss
 
$994,000
 
H1 EBIT
 
-$690,000
 
H1 Gross Profit
 
$1.37 mln
 
H1 Pretax Loss
 
$712,000
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the iron & steel peer group is "buy"
Wall Street's median 12-month price target for Strategic Minerals PLC is GBp1.90, about 63.5% below its September 24 closing price of GBp5.20

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)