REG - Strategic Minerals - Q4 & 2025 Trading Update

Strategic MineralsAnnouncement

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RNS Number : 2491O  Strategic Minerals PLC  09 January 2026

 

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.

 

9 January 2026

 

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Q4 & 2025 Trading Update

 

Strong Cobre performance provides sustainable revenue and operational
stability to enable continued advancement of the Redmoor Tungsten-Tin-Copper
Project

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral
exploration and production company, is pleased to provide the following update
on Q4 and 2025 performance and activities.

 

Highlights

·    Significant share price appreciation in 2025 - up 470% and one of the
top performing companies listed on AIM

 

·    Exceptional drill results received from three of nine drill holes
completed at the Company's Redmoor Tungsten-Tin-Copper Project

 

·    Positive metallurgical work from Stage 1 studies with mass recovery
to flotation feed of approximately 43.9%, and stage metal recoveries of 94.3%
tungsten, 95.6% tin, and 90.7% copper to an average 2.1x upgrade ratio

 

·    On target to release updated Mineral Resource Estimate before the end
of Q1 2026

 

·    Renewed investor and stakeholder engagement including non-deal
institutional roadshow, a webinar presentation with approximately 1,000
recorded views, and attendance at the Critical Minerals Association and
Resourcing Tomorrow conferences in London

 

·    Cobre magnetite operation recorded its 3(rd) highest annual ore sales
in 14 years with 61,279 tons sold to a diverse customer base, generating sales
of approximately US$4.23 million

 

·    Exercise of exclusive call option by Cuprum Metals ("Cuprum") to
acquire the Company's wholly owned subsidiary Leigh Creek Copper Mine with
A$0.25 million received so far through the call option payment of A$0.1
million and First Instalment payment on A$0.15 million. A further A$1.75
million is due upon the earlier of 31 May 2026 or the execution of a
Definitive Agreement between the Company and Cuprum. Along with a subsequent
earn-out from production of A$4 million and receiving 19.9% of the shares of
any entity that Cuprum intends to list on the Australian Securities Exchange,
this brings the total consideration up to A$9 million.

 

·    Strategic Minerals' cash as at 31 December 2025 was US$0.78 million
after continued substantial investment in Cornwall Resources' development
programme and awaiting a further rebate from the UK Shared Prosperity Fund

 

Operational Highlights (By Subsidiary)

Cornwall Resources

Redmoor Tungsten-Tin-Copper Project, Cornwall, UK ("Redmoor")

·    Awarded c.£764,000 UK Government grant funding from the UK Shared
Prosperity Fund, which together with matched funds from the Company's April
2025 placing, is supporting the programme to accelerate Redmoor towards
pre-feasibility

·    1st drilling since 2018 began in June with 5048.70 m completed by
December 2025 ahead of schedule, within budget, and with exceptional results
reported to date

o  Includes 1.10 m @ 7.19% WO(3), 0.02% & 1.11% Cu (7.51% WO(3).Eq) and
0.97m at 7.52 WO3, 0.03% Sn & 0.87% Cu (7.78% WO3.Eq), including one of
the top 10 highest-grade sample results recorded at Redmoor from all previous
drilling campaigns

·    Multiple mineralised intervals and wide zones of mineralisation
within the Redmoor sheeted vein system identified, reinforcing Redmoor's
status as one of the highest-grade undeveloped tungsten deposits globally

·    Re-analysis of historical samples confirmed previous underreporting
of certain samples and an average 9.2% increase in tungsten grades, further
solidifying Redmoor's position as Europe's highest-grade undeveloped tungsten
deposit

·    Strategic Minerals invested in upgraded facilities and team expansion
to support the programme

Southern Minerals Group

Cobre Magnetite Stockpile, New Mexico, USA

·    Continued strong operational performance across 2025 despite 10-day
shutdown due to wildfires

·    Sales of magnetite increased over the course of the year

o  Q4 sales were up 4% on Q3, and Q3 sales were up 45% on Q2

o  By volume, H2 saw an increase of 15.2%

·    Total sales of approximately US$4.23 million (2024: US$4.75 million)
generated from 61,279 tons or ore sold to customers (2024: 70,659 tons)

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

       Volume (tons)                                 Sales (US$'000)
 Year  3 months to Dec         3 months to Sep       3 months to Dec  3 months to Sep
 2025  16,713                  16,098                1,151            1,079
 2024  19,952                  19,375                1,336            1,273
 2023  4,479                   4,592                 391              404

 Year  Full year                                     Full year
 2025  61,279                                        4,230
 2024  70,658                                        4,745
 2023  17,966                                        1,577

 

Leigh Creek Copper Mine ("LCCM")

Leigh Creek Copper Project, South Australia

·    South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals
("Cuprum") exercised its call option to acquire LCCM and paid the First
Instalment of A$0.15 million - a total of A$0.25 million has now been received

·    Second Instalment of A$1.75 million to be received on the earlier of
execution of a Definitive Agreement, or 31 May 2026(*)

·    Both parties are confident in restarting LCCM this year, supported by
strong copper market fundamentals

(*)Cuprum's right to acquire LCCM will lapse if the Second Instalment has not
been paid to the Company by 31 May 2026

 

Mark Burnett, Executive Director of Strategic Minerals, commented:

"2025 was a transformational year for Strategic Minerals. We successfully
restructured and reorganised the Company, positioning it to deliver increased
near-term revenue from Cobre and long-term value creation from the Redmoor
Tungsten-Tin-Copper Project. We are utilising sustainable cash flows from
Cobre to unlock the full potential of Redmoor with a clear opportunity to
develop it and the surrounding area into a world leading source of tungsten,
tin and copper to provide resilience to western world supply chains. The
Redmoor drill programme has gone exceptionally well so far, and we anticipate
further resource growth and additional efficiencies for future infill drilling
as part of a pre-feasibility programme."

 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:                       @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 Broker
 Matthew Johnson/Charlie Bouverat/Grant Barker                            +44 (0) 203 829 5000

 Zeus Capital Limited

 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 and Cornwall Resources Limited

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.

About the CIOS Good Growth Fund and UK Shared Prosperity Fund

This project is part-funded by the UK Government through the UK Shared
Prosperity Fund.  Cornwall Council is responsible for managing projects
funded by the UK Shared Prosperity Fund through the Cornwall and the Isles of
Scilly Good Growth Programme (https://ciosgoodgrowth.com/) .

Cornwall and Isles of Scilly has been allocated £184 million for local
investment through the Shared Prosperity Fund
(https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus/uk-shared-prosperity-fund-prospectus)
.  This new approach to investment is designed to empower local leaders and
communities, so they can make a real difference on the ground where it's
needed the most.

The UK Shared Prosperity Fund proactively supports delivery of the
UK-government's five national missions: pushing power out to communities
everywhere, with a specific focus to help kickstart economic growth and
promoting opportunities in all parts of the UK.

For more information, visit

https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus
(https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus)

For more information, visit https://ciosgoodgrowth.com
(https://ciosgoodgrowth.com)

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