REG - Strategic Minerals - Placing and Subscription to Raise £4 Million

Strategic MineralsAnnouncement

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RNS Number : 8592P  Strategic Minerals PLC  22 January 2026

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22 January 2026

Strategic Minerals Plc

("Strategic Minerals" or the "Company")

 

Placing and Subscription to Raise £4 Million

 

Fundraise accelerates Redmoor development, enabling infill drilling for PFS

 

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral
exploration and production company, is pleased to announce it has raised gross
proceeds of £4 million through the issue of 307,692,308 new ordinary shares
of 0.1 pence each in the Company ("Ordinary Shares") at a price of 1.3 pence
per new Ordinary Share ("Issue Price"), (the "Fundraise"). The Fundraise
comprises the issue 123,076,922 placing shares ("Placing Shares") and
184,615,386 subscription shares ("Subscription Shares").

 

The Issue Price was priced at 1.3 pence representing the closing mid-market
price of the Company's shares on 21 January 2026, being the latest practicable
date prior to the publication of this announcement.

 

Demand for the Fundraise exceeded expectations and comprised both UK and
international sophisticated and long-term ultra-high net worth investors,
family offices and institutions.

 

The Fundraise will significantly accelerate the Company's Redmoor
Tungsten-Tin-Copper Project in Cornwall ("Redmoor") into the next phase, at an
opportune time for the development of critical mineral projects.

 

Net proceeds will be used to fund a 16,000 metre infill drilling programme and
expand the operation and project team at Redmoor. This work is expected to
substantially complete all the required drilling for a prefeasibility study
("PFS").

 

Cornwall Resources Limited, the Company's wholly owned subsidiary, has
reserved one of the drilling rigs used to complete the 2025 Redmoor drilling
programme and will in due course seek to add additional rigs to support the
programme, which is anticipated to commence this quarter.

 

Charles Manners, Executive Chair of Strategic Minerals, commented:

"Tungsten prices are rising, driven by Chinese export restrictions,
constrained supply, and robust global demand. Redmoor represents the
highest-grade undeveloped tungsten resource in Europe, where the security of
supply of strategic raw materials is of growing importance.

 

"Following significant inbound investor interest, Strategic Minerals now has
an opportunity to capitalise on positive market dynamics by fast-tracking
project development and funding an almost immediate follow-on infill drilling
programme to undertake substantially all the drilling requirements of the
planned PFS.

 

"We are delighted to have been able to capitalise on significant new investor
interest and are grateful for the support of these new long term and strategic
investors as we significantly and rapidly advance Redmoor into the next phase
of development and toward production."

 

Issue of Adviser Shares

 

Additionally, the Company has issued 7,500,000 new Ordinary Shares at the
Issue Price in consideration for fees payable pursuant to the Fundraise
("Adviser Shares").

 

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the
315,192,308 new Ordinary Shares, comprising the Placing Shares, Subscription
Shares and Adviser Shares to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings in the Placing Shares,
Subscription Shares, and Advisor Shares will commence on AIM at 8.00 a.m. on
or around 27 January 2026 ("Admission").

The Placing Shares, Subscription Shares, and Adviser 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 2,684,490,257 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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