UK's Strategic Minerals posts higher prelim FY revenue on Cobre Magnetite sales

Strategic Minerals

09/01/2026 07:13

Overview

Mineral exploration firm's preliminary 2025 revenue reached $4.23 mln from Cobre magnetite sales

Company advanced Redmoor project with exceptional drill results and positive metallurgical work

Cuprum Metals exercised option to acquire Leigh Creek Copper Mine

Outlook

Company plans to release updated Mineral Resource Estimate for Redmoor by end of Q1 2026

Strategic Minerals anticipates further resource growth and efficiencies in Redmoor pre-feasibility program

Company expects A$1.75 mln payment from Cuprum Metals by 31 May 2026 for Leigh Creek Copper Mine

Result Drivers

COBRE PERFORMANCE - Cobre magnetite operation recorded its 3rd highest annual ore sales in 14 years, generating sales of approximately US$4.23 million

REDMOOR ADVANCEMENTS - Exceptional drill results and positive metallurgical work at Redmoor project, reinforcing its status as a high-grade undeveloped tungsten deposit

LEIGH CREEK SALE - Cuprum Metals exercised option to acquire Leigh Creek Copper Mine, with A$0.25 million received and further payments due

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
$4.23 mln


Analyst Coverage

Wall Street's median 12-month price target for Strategic Minerals PLC is GBp1.90, about 38.2% above its January 8 closing price of GBp1.38

The stock recently traded at 1 times the next 12-month earnings vs. a P/E of 0 three months ago

Press Release: ID:nRSI2491Oa

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(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.)