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SML - Strategic Minerals

Discussion in 'General Share Chat (SML)' started by Cacher, Dec 18, 2016.

  1. Groucho

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    Super bullish Strategic Minerals MD buys shares for son
    12:37 30 Nov 2017

    John Peters, managing director of Strategic Minerals Plc (LON:SML), caught up with Proactive's Andrew Scott to discuss his recent purchase of 500,000 ordinary shares in the company.

    Peters also touches on their recent move into a new office on site at Cobre as well as looking ahead to what investors can expect between now and the end of the year.

     
  4. Groucho

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    11 December 2017

    Strategic Minerals plc

    ("Strategic Minerals", "SML" or the "Company")


    Improved High Grade Intersections from Redmoor Phase 2 Drilling


    Strategic Minerals plc (AIM: SML; USOTC: SMCDY),a diversified mineral production and development company,announces the results from the Phase 2 drilling programme at its Redmoor Tin-Tungsten Project in Cornwall, UK, undertaken through its joint venture vehicle, Cornwall Resources Limited ("CRL"). The Phase 2 drilling programme involved 5 holes which are the last results to be announced from the 2017 drilling programme (20 holes in total).


    Key Highlights

    · Successful intersection of high-grade zones within the Sheeted Vein System ("SVS") in all 5 Phase 2 drill holes.

    · Considerably higher-grade intercepts than previously reported.

    · 9 significant intercepts from SVS high-grade zones in the 5 Phase 2 holes. These average 8.4 m @ 1.34% SnEq, including 2.4 m @ 2.78% SnEq and contain peak grades up to 12.38% SnEq.

    · Depth of SVS high-grade zones significantly increased by 180 m in hole CRD019

    · Commencement of work on the resource update, targeted for release in Q1 2018.

    · Positive results encouraging CRL to prioritize plans to achieve production status.


    The completion of Phase 2 of the 2017 drilling programme at Redmoor has resulted in 20 drill holes over the term of the programme. The 5 Phase 2 drill holes were particularly impressive with these results continuing to build on and confirm the previously reported results from SVS high-grade zones. Further, the results demonstrate considerably higher grades than the average of previously reported significant intercepts (0.91% SnEq over 24 intercepts). As a result of Phase 2 drilling, the average of all 33 significant intercepts from SVS high-grade zones drilled to date (historic and CRL holes) has increased to 15.0 m @ 1.0% SnEq.

    The Phase 2 hole CRD019, drilled 180m down-dip of known mineralisation, returned the best results of the programme (7.00 m @ 2.63% SnEq from 507.05 m, including 1.00 m @ 12.38% SnEq from 510.05 m) and shows these high grade zones to remain open at depth.

    Twinned hole CRD020, drilled between two existing intercepts (approx. 100 m apart), successfully intersected SVS high-grade mineralisation, further improving confidence in continuity of the SVS high-grade zones.

    These new results have significantly added to the confidence in the potential of the project to such an extent that CRL's joint venture partners, NAE and SML, are now seriously considering methods of expediting the project to production.

    A more detailed description of results can be found in Table 1, following, and on the Company website http://www.strategicminerals.net/investors/presentations.html, under "Redmoor Phase 2 Drill Results".



    Non-Executive Director of Strategic Minerals, Mr Peter Wale, commented:

    "We are delighted by the Phase 2 drilling results, with every hole intersecting high-grade zones within the SVS and returning considerably higher grades than previously reported.

    The potential for the resource size and grade to improve at depth has opened a substantial opportunity for the project, extending the depth of known mineralisation at Redmoor.

    These results have encouraged us to further prioritize taking the project to production and we look forward to updating the market on this after completing the resource update during Q1 2018."

    837A60E7-D279-4496-A573-4B38E66B735C.jpeg
     
    Last edited: Dec 11, 2017
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    15 December 2017


    Strategic Minerals plc

    ("Strategic Minerals", "SML" or the "Company")



    Terms renegotiated to acquire Leigh Creek Copper Mine outright for AUD $3m


    Strategic Minerals plc(AIM: SML; USOTC: SMCDY),a diversified mineral production and development company,announces that after the successful completion of technical and financial due diligence on Leigh Creek Copper Mine Pty Ltd ("LCCM"), the owner of the exploration and mining rights and associated copper processing assets at Leigh Creek Copper Mine in South Australia (the "Project"), it has agreed to continue with the acquisition on renegotiated terms.

    In its RNS dated 16 October 2017, Strategic Minerals outlined that it intended to pay a total consideration of AUD 5,000,000 (approximately GBP 2,850,000) predominantly by way of royalties in combination with cash, shares and assumption of debt.

    Upon completion of due diligence, SML has renegotiated terms for the acquisition of LCCM through an equal mixture of cash and equity totalling AUD 3,000,000 (approximately GBP1,710,000), subject to documentation.

    Transaction Details

    Subject to finalising legal documentation and receiving legal due diligence sign off(expected to be received by the end of 2017), SML has agreed to purchase LCCM from Resilience Mining Australia Pty Ltd ("RMA") on 16 January 2018 for a total consideration of AUD $3,000,000 (approximately GBP 1,710,000) to be paid by way of AUD $1,500,000 (approximately GBP 855,000) in cash, payable at settlement, and AUD $1,500,000 (approximately GBP 855,000) paid by way of the issue of new ordinary shares of SML ("Shares") in the first week of April 2018, based on the volume weighted average share price ("VWAP") for the month of March 2018.

    Shares issued will be subject to a voluntary escrow, with one third being escrowed for three months after issue, and another third being escrowed for six months after issue. Should SML fail to deliver RMA the Shares by the end of April 2018, RMA will have the right to reacquire LCCM for AUD $1.


    Mr John Peters, Managing Director of Strategic Minerals, commented:

    "The outright acquisition of Leigh Creek Copper Mine for an up-front payment of AUD $3m is a significant step forward for the Company.The renegotiated sale terms reflect the confidence we derived from our due diligence and the vendor's acceptance of payment certainty. We are delighted to add copper exposure to our portfolio of strategic projects. We believe that demand and supply factors for copper over the next five years will lead to price increases going forward, which in turn will add substantialshareholder value to SML.

    The outright acquisition, as opposed to the previous arrangement involving a substantial portion of the consideration being paid by way of royalties, provides the Company with flexibility to maximise the potential from the tenements, as well as the freedom to progress the Project at its own pace. The new capital expenditure structure will allow us to minimise risks, notably extraction risk."
     
  7. Groucho

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    Background information - originally published 29/11/2016

    Resilience Mining Australia seeks buyer for Leigh Creek Copper Mine as it prepares to restart production at mothballed operation in state’s Far North
    Renato Castello, The Advertiser
    November 29, 2016 1:48am

    upload_2017-12-15_8-51-22.png

    THE Leigh Creek Copper Mine is poised to restart production nearly five years after it was mothballed, in a major achievement for owner Resilience Mining Australia, which is now looking for a partial or full buyer.

    Resilience Mining, which purchased LCCM from Phoenix Metals, has spent 18 months and more than $1 million developing the project to the point where it is ready to again be a viable copper producer, pending necessary approvals.

    The company says the development strategy provides opportunity to “execute” just under three years of “low risk” copper production based around the retreatment of old heaps and mining the Lynda deposit.

    A further five mineable deposits are primed for development.

    Resilience’s managing director Jonathon Trewartha said the Lynda operation could generate between 5000 and 10,000 tonnes of copper per year and provide 16 direct jobs.

    He said initial cash flow would come through treating the existing heaps, which he said are estimated to contain 750 tonnes of copper.

    “We’re about a month away from (obtaining) approvals to do the retreatment,” he said.

    “It’s three years of low risk production ahead of us. In that time there are five other pits to be developed.

    “There are hundreds of these types of deposits to be mined, once you have demonstrated that they can be mined successfully. That is what we plan to do.”

    The LCCM includes three mining leases, a processing plant and two exploration licences.


    Phoenix Metals mothballed the LCCM project in January 2012 citing low levels of copper recovery.

    The LCCM mineral inventory has been estimated at 35kt of contained copper with identified exploration targets of 103kt of contained copper on the tenure, close by and regionally.
     
  8. Groucho

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    Strategic Minerals moves to buy Leigh Creek copper project outright
    08:49 15 Dec 2017

    John Peters, managing director of Strategic Minerals Plc (LON:SML), tells Proactive they're to buy the Leigh Creek copper mine in South Australia from Resilience Mining Australia outright following due diligence.

    The deal, subject to documentation, is due to take place on January 16, 2018.
     
  9. Groucho

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    09 January 2018


    Strategic Minerals plc


    ("Strategic Minerals" or "the Company")


    Q4 Cobre Sales (US $2.139M) Sets New Record

    Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, is pleased to provide the following update on magnetite ore sales at the Company's Cobre operations for the three months to December 2017, and to inform the market of cash available at the end of quarter.


    Sales update on Cobre magnetite tailings operations

    The Company reports that it achieved sales of US $2.139m (30,730 tons) during the December 2017 quarter, marginally up on the September quarter (US $2.036m / 29,539 tons) and again setting a new quarterly record. Given that the September quarter partly reflected clearance of prepaid June tonnage, this is a strong result.


    The 2017 annual sales of US $5.638m (84,980 tons) represents over a 300% increase on 2016 sales of US $1.552m (25,385 tons). Subject to audit review, the Board anticipates 2017 will see the Company record its first before tax profit in excess of US $1m.

    The record breaking domestic sales for the December 2017 quarter and volume details are as follows:

    A1C5EF34-2F45-41EC-BB3B-14342F9075FF.jpeg

    Management at Cobre has ensured that the profit margin on sales has been maintained at in excess of 60% during the December 2017 quarter.


    Financials and Operations


    The Board and Management have continued to maintain tight control on overheads and with sizeable cash flows, and after meeting exploration costs associated with both Redmoor and Hanns Camp, the Company had a healthy cash balance, which at 31 December 2017 was US $3.806m (30 September 2017: US $1.627m). This strong cash position has enabled the Company to settle the cash component of the Leigh Creek Copper Mine acquisition, internally fund the start up of Leigh Creek, internally fund the CARE 2018 drilling programme and internally fund the expected share of 2018 Redmoor exploration expenses.


    Commenting, John Peters, Managing Director of Strategic Minerals, said:


    "The December quarter has seen the profits and cash flow from our Cobre operations reach record highs. This has placed the Company in a strategically advantageous position, enabling it to acquire the Leigh Creek Copper Mine and undertake exploration with little dilution to shareholders.


    "The Board and Management will continue with the asset development plan to drive revenue higher in order to achieve the Company's targets of a £100m market capitalisation and a share price above £0.0575.
     
    Last edited: Jan 9, 2018
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    Strategic Minerals (LON:SML) achieves record sales from it's Cobre asset in New Mexico which means it's on track for annual pre-tax profits surpassing US$1M. MD John Peters gives Proactive detail on those new results as well as fleshing out the sales and cash position.
    Strategic sold just shy of 31,000 tons of magnetite ore in the three months to the end of December, for US$2.14M. Those figures are marginally up on the previous record of US$2.04M. John says profit margins are up at about 60%.
     
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    24 January 2018


    Strategic Minerals plc

    ("Strategic Minerals", "SML" or the "Company")


    Hanns Camp Cobalt / Nickel Project - Exploration Update


    Strategic Minerals plc (AIM: SML; USOTC: SMCDY),a diversified mineral production and development company, is pleased to announce the results for the 1 metre sampling for the nickel and cobalt targets at Central Australian Rare Earths' ("CARE") tenements at Hanns Camp, Western Australia, east of Laverton.


    Key Highlights

    · Confirmation of the 1,000m x 500m extent of the Cobalt - Nickel mineralisation

    · Stronger intersections include:

    HCAC004: 10m @ 0.65% Ni and 0.05% Co (0.93% Ni eq. or 0.18% Co eq.) from 9m

    HCAC015: 10m @ 0.63% Ni and 0.04% Co (0.83% Ni eq. or 0.16% Co eq.) from 16m

    HCAC028: 17m @ 1.20% Ni and 0.07% Co (1.57% Ni eq. or 0.31% Co eq.) from 31m

    HCAC029: 4m @ 1.35% Ni and 0.16% Co (2.18% Ni eq. or 0.43% Co eq.) from 17m

    HCAC030: 6m @ 0.72% Ni and 0.10% Co (1.24% Ni eq. or 0.24% Co eq.) from 8m

    HCAC039: 3m @ 1.11% Ni and 0.23% Co (2.28% Ni eq. or 0.45% Co eq.) from 37m

    HCAC048: 12m @ 1.04% Ni and 0.06% Co (1.36% Ni eq. or 0.27% Co eq.) from 29m

    HCAC049: 16m @ 0.93% Ni and 0.07% Co (1.30% Ni eq. or 0.26% Co eq.) from 48m

    · Moderate uplift in grade, especially nickel grades, when compared to 4m interval assays

    · Maximum 1 metre Nickel equivalent grade of 3.44% Ni Eq. (1.74% Ni and 0.34% Co)

    · Identified the existence of komatiite lava channel-facies rocks within the Hanns Camp ultramafic, one of the key requirements for the potential accumulation of nickel sulphides


    [1]Nickel and Cobalt equivalent (NiEq. or CoEq.) calculations based on a Nickel price of US$ 5.35 / lb and a cobalt price of US$ 27.1/ lb.

    Chairman of Strategic Minerals, Mr Alan Broome AM, commented:

    “The ongoing assaying from the recent air core drilling at Hanns Camp has delivered better than expected results and gives us great confidence as we move into the next phase of exploration.

    "Following his appointment in November 2017, Dr Martin Gole has added a fantastic level of expertise to CARE. The excellent work completed by Dr Gole alongside our geological team has given a whole new perspective on the nickel sulphide resource potential at this exploration project.

    "In light of this recent review of nickel potential, the Board feels justified in undertaking further significant exploration at Hanns Camp over the course of 2018 and expects to be able to fully fund these activities internally."



    CARE Tenements

    In 2016, the Company funded a drilling programme at the highly prospective Hanns Camp located within CARE's Laverton Project. In doing so, it acquired 50% of the ownership of CARE from Rarus Limited. Subsequently, in May 2017, the Company acquired the balance of the ownership of CARE, which is now wholly owned by the Company.


    CARE holds tenements and has access to mining rights for cobalt, nickel, rare earth elements and gold in these tenements in Western Australia.


    The Laverton Project is located in the 'Eastern Yilgarn Craton Nickel Sulphide Province' in Western Australia that is most notable for hosting the Mount Windarra and South Windarra nickel sulphide deposits located 12km west of the Laverton Project which together produced 8.1 million metric tonnes (Mt) at 1.51% nickel (Ni) between 1974 and 1992. Other more recent discoveries located distally north and south along strike of the Laverton Project include;


    · Duketon Mining's Rosie Deposit that has a Mineral Resource estimate of 1.74Mt at 1.7% Ni including a best intercept of 5.2 metres at 9.13% Ni, 1.09% copper (Cu) and 2.22grams/ tonne platinum (Pt) from 599.71 metres down hole

    · Rox Resources' Fisher East Project (Mineral Resource 3.6Mt at 2.0% Ni)

    · Impact Minerals' Mulga Tank Project which returned a best intercept of 0.25 metres at 3.8% Ni and 0.7% Cu from 212.6 metres down hole



    Hanns Camp Cobalt - Nickel Exploration


    In September 2017, a 49-hole air core drilling programme was completed across the extent of the known Hanns Camp ultramafic rocks. The drilling targeted a concentration of cobalt and nickel within the lateritic weathering profile. All holes were drilled vertically for a total of 1,915 metres drilled with an average depth of 39m.


    23 of the 49 holes intersected nickel cobalt mineralisation. The initial results of the drilling programme were released to the market on 2 November 2017. The assays as that time were based on 4 metre sample intervals. A follow up, more focussed sampling and assaying campaign was completed on the 1 metre sample intervals in December 2017. The mineralised portions of the 23 holes were resampled and assayed for a total of 261 samples.


    The stronger intersections are included below:

    · HCAC004: 10m @ 0.65% Ni and 0.05% Co (0.93% Ni eq. or 0.18% Co eq.) from 9m

    · HCAC015: 10m @ 0.63% Ni and 0.04% Co (0.83% Ni eq. or 0.16% Co eq.) from 16m

    · HCAC028: 17m @ 1.20% Ni and 0.07% Co (1.57% Ni eq. or 0.31% Co eq.) from 31m

    · HCAC029: 4m @ 1.35% Ni and 0.16% Co (2.18% Ni eq. or 0.43% Co eq.) from 17m

    · HCAC030: 6m @ 0.72% Ni and 0.10% Co (1.24% Ni eq. or 0.24% Co eq.) from 8m

    · HCAC039: 3m @ 1.11% Ni and 0.23% Co (2.28% Ni eq. or 0.45% Co eq.) from 37m

    · HCAC048: 12m @ 1.04% Ni and 0.06% Co (1.36% Ni eq. or 0.27% Co eq.) from 29m

    · HCAC049: 16m @ 0.93% Ni and 0.07% Co (1.30% Ni eq. or 0.26% Co eq.) from 48m


    The resampling has resulted in a moderate increase in the final grades mostly as a result of improved assaying techniques. Over equivalent intervals the NiEq grade has increased by approximately 10%.


    The full results are included in the table at the end of this announcement.



    Hanns Camp Nickel Sulphide Exploration


    As previously announced, SML has engaged Dr Martin Gole, an internationally recognised expert in ultramafic hosted nickel sulphides to review the exploration potential of the Hanns Camp Project. This initial review was completed in January 2018.


    In an exciting new development for the Project, Dr Gole has identified the existence of komatiite lava channel-facies rocks within the Hanns Camp ultramafic which is one of the key requirements for the potential accumulation of nickel sulphides. The recent air core drilling was a major contributing factor to this development, with geological and geochemical analysis allowing discrimination of the previously unrecognised channel. This is a highly significant finding and potentially has major implications for nickel sulphide exploration both at Hanns Camp and of other CARE tenements within the district.


    SML are currently reviewing the geochemistry of the base of the air core holes and historic electromagnetic (EM) geophysical surveys to further identify and refine potential targets for additional exploration. The Board considers that, during 2018, further substantial exploration is warranted to further test the potential for nickel sulphides.



    Significant Intersections


    Table 1 summarises the significant drilling results from the recent air core drilling at Hanns Camp.

    0A3DC9C7-1CE1-48E8-982D-B027D61635E4.jpeg
     
  13. Groucho

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    o Hanns Camp is located within the East Yilgarn nickel sulphide province of W Australia where the Mt Windarra and South Windarra deposits, approximately 12km west of the Hanns Camp site, have “together produced 8.1m metric tonnes (Mt) at 1.5% nickel (Ni) between 1974 and 1992.”

    Conclusion: The improved understanding of the mineralisation at Hanns Camp as a result of the recent drilling and Dr. Gole’s insight will guide the 2018 exploration programme. We look forward to further news as the campaign, within an established nickel producing region, proceeds.

    *SP Angel act as Nomad and broker to Strategic Minerals
     
  14. Groucho

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    25 January 2018


    Strategic Minerals plc

    ("Strategic Minerals", "SML" or the "Company")


    Binding Exchange of Contracts for Leigh Creek Copper Mine, South Australia

    Settlement expected in approximately one month



    Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, is pleased to announce that Ebony Iron Pty Ltd ("EI"), a wholly owned subsidiary of SML, has completed the binding exchange of contracts for the acquisition of Leigh Creek Copper Mine Pty Ltd ("LCCM") from Resilience Mining Australia Pty Ltd ("RMA"). LCCM owns the exploration and mining rights and associated copper processing assets at the Leigh Creek Copper Mine in South Australia ("the Project").


    Highlights


    · Binding contracts exchanged subject to conditions precedent

    · Final settlement expected in approximately one month

    · 24,900 tonnes of JORC compliant resource copper metal acquired

    · Offtake Agreement for 100 per cent of production is part of conditions precedent

    · Outlook for copper prices very strong, with current prices at or near 12 month highs


    The Board believes the Project represents a near-term, low-capex copper production opportunity with the potential for early cash flow generation. Additionally, the Project will allow the Company to significantly expand its current resource base.


    As previously announced, under the contract there are a small number of conditions precedent to be completed before final settlement, including approval from the Australian Foreign Investment Review Board. The Board of SML ("the Board") considers that, given the size and nature of the contracts, these conditions precedents are mainly procedural, and that settlement is expected to occur in approximately one month.


    Managing Director of Strategic Minerals, Mr John Peters, commented:

    "We are delighted to have completed and exchanged contracts for the acquisition of the Leigh Creek Copper Mine. I believe we have once again proven our ability to identify projects that can be rapidly developedto deliver returns to shareholders. We are already formulating our development plans for LCCM and see the project as having potential to deliver cash flows in 2019.

    "I am also pleased to note that with the exchange of contracts complete, key technical staff associated with the project are now free from any conflict of interest and can commence working within the SML group.

    "The Management and Board are very much of the opinion that Leigh Creek is a project that will become a key asset in the SML portfolio and we are excited to get underway with development once the transaction is settled."


    The Transaction


    On 25 January 2018, EI entered into binding contracts to acquire LCCM from RMA for a total consideration of AUD $3,000,000 (approximately GBP 1,710,000) to be paid by way of:

    i. AUD $1,500,000 (approximately GBP 855,000) either in cash or by way of debt assumption on settlement; and

    ii. the remaining AUD $1,500,000 to be paid by way of debt assumption of AUD $50,000 and the issue of AUD $1,450,000 in new ordinary shares of SML (the "Consideration Shares").

    The bulk of the Consideration Shares (valued at AUD $1,350,000) are to be issued in the first week of April 2018, based on the volume weighted average share price ("VWAP") for the month of March 2018. AUD $450,000 of these Consideration Shares will be subject to a voluntary escrow of three months from issue and a further AUD $450,000 will be subject to a voluntary escrow of six months from issue.

    The balance of the Consideration Shares (AUD $100,000) will be issued in January 2019, based on the March 2018 VWAP and has been retained to support warranties provided by RMA. Should SML fail to deliver RMA the shares, excluding the AUD $100,000 worth of issue held back for security purposes, by the end of April 2018, RMA will have the right to re-acquire LCCM for AUD $1.

    As part of the exchange of contracts, AUD $100,000 will be deposited with RMA and will not be refundable in the unlikely event that Foreign Investment Review Board consent is not granted for the transaction. The balance of the cash will be paid at settlement.


    Leigh Creek Copper Mine Project

    The Leigh Creek Copper Mine Project is a historically mined copper oxide deposit that was last operated in 2011. The Project is based in the northern Flinders Ranges of South Australia. South Australia is one of the world's largest copper producers (Olympic Dam and Prominent Hill) and the northern Flinders Rangers has been a source of copper since the 1880s.

    LCCM has three approved Mining Leases that cover a number of copper oxide deposits, including Lorna Doone, Lynda, Mountain of Light (Rosmann East and Paltridge North) and the Mount Coffin deposit. All the Mineral Resources are contained within the Mining Leases.

    The previous owners completed a JORC 2012 compliant Mineral Resource estimate on Lynda, Lorna Doone and Paltridge North deposits in 2016. A total resource of 3.61mt @ 0.69% copper for 24,900 of copper metal forms the base of the project and includes the following Resource category breakdown.

    1B3855E2-B6F3-4446-A045-E6466F356709.jpeg

    Additional exploration potential has been identified within the mining and exploration leases and will be followed up during 2018 with further proposed exploration.

    An existing heap leach and copper processing facility is currently located at the Mountain of Light deposit and has been in care and maintenance since 2012. The treatment plant treats the copper solution extracted via a standard heap leach pad into a copper cement (>70% Cu) via two existing Kennecott cones. The Mountain of Light Processing plant is 100% owned by LCCM.

    A Feasibility Study ('FS') for the Leigh Creek Copper Mine was completed by Terra Consulting in November 2016 and compiled geology, resources, mining, processing and marketing relating to the Project. The FS focussed on treating oxide copper initially from two open pits (Lorna Doone and Lynda). This processing plant has a nominal capacity to produce 2,200 tonnes of copper per annum, but the feasibility study identified a very low capital cost option to increase capacity to 4,000 tonnes of copper per annum. Additional resources from the Paltridge North deposit was not included in this FS and will be assessed by SML for potential upside. The FS has demonstrated a robust economic return using conservative price assumptions.

    The region around the Project has excellent infrastructure with a modern town (Leigh Creek), sealed airstrip, sealed and all-weather roads, power, and water.

    Additional to the Mining Leases, two approved Exploration Leases, covering an area of 686km2in the northern Flinders Ranges are included in the Project. These provide excellent opportunities for exploration of new copper oxide resources.

    SML intends to complete a review of the development options during February with a forward work programme to be completed in the second quarter of 2018.


    Copper Marketing

    Copper prices have demonstrated a strong resilience during 2017 and copper is currently trading at or near to 12-month price highs. Current spot price is reported as US$3.24/lb copper. This steady rise in spot copper price has been driven by a decline in world copper production of around 2.5% during the first 9 months of 2017 (ISGS, 20thDec 2017) and an ongoing general decline in mine grades and increasing challenges for exploration success. This has resulted in copper being a strategically attractive commodity.

    Terms for an offtake agreement for all planned copper production, up to 300 tonnes per month has been agreed.
     
    Last edited: Jan 25, 2018
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    30 January 2018

    Strategic Minerals plc

    ("Strategic Minerals", "SML" or the "Company")


    Directors Exercise 15,000,000 30 June 2018 Options


    Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, is pleased to announce that its three Directors, Alan Broome, Peter Wale and John Peters have exercised a total of 15,000,000 vested options.


    Application will be made for the shares to be admitted to trading on AIM and admission is expected to take place on or around 06 February 2018.


    The breakdown of the options exercised/shares and Directors' holdings post the issuance are:

    E619A170-1DE9-4906-8104-77000A066F03.jpeg


    The exercise of these options completes all vested options expiring 30 June 2018. A further 25,000,000 vested options exist, all held by the Company's three Directors, with an expiry date of 30 June 2019.


    Managing Director of Strategic Minerals, Mr John Peters, commented:


    "The exercise of the options by all Directors shows the high level of confidence we all have in the future performance of the Company. The three Directors are committed long term holders and, like our shareholders, expect to fully participate in the significant expected growth in the company.

    "In line with recent shareholder approvals, the Board hopes to announce, in the near future, the formation of new options with higher vesting prices."
     
    Last edited: Jan 30, 2018
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    7 February 2018

    Strategic Minerals plc

    ("Strategic Minerals", "SML" or the "Company")


    Appointment of additional UK Director


    Strategic Minerals plc (AIM: SML; USOTC: SMCDY),the diversified mineral development and production company,is pleased to announce the appointment of Mr Jeffrey Harrison as Non-Executive Director. Mr Harrison's appointment will support the execution of Strategic Minerals' strategy, particularly the planned development of the Redmoor tin/tungsten project in Cornwall into production.


    Mr Harrison has over 40 years' mining experience, primarily in Australia and the United Kingdom, and spent six years with Wolf Minerals (UK) Ltd helping to negotiate, liaise and commence its operations, before retiring as its operations manager. For the last year Mr Harrison has been a consultant to Cornwall Resources Limited, the joint venture to which the Company owns 50%, and has successfully guided the community interface during the drilling programme, as well as adding strategic input into project considerations.


    Mr Harrison has both a joint Honours Degree in Mining/Geology as well as an MSc in Engineering Rock Mechanics from the Royal School of Mines, London. He has been both a Fellow of the Australian Institute of Mining, Minerals (Chartered Engineer) for over 10 years and the Institute of Quarrying (UK) and a member of the Institute of Directors.


    Mr Harrison's appointment will not preclude him from undertaking further consulting work to Cornwall Resources Limited.


    Strategic Mineral's Chairman, Alan Broome, said:



    "The Board is delighted to welcome Jeff to the team. His skills blend well with those of the existing Board members and over the past year he has impressed us with his mining skills and his calm, objective view on geological issues associated with our Redmoor project.



    "We are confident that Jeff's appointment is a positive step towards bringing Redmoor through to operations, where his Wolf Minerals experience will prove invaluable. Further, we are confident that he will also make a considerable contribution to the re-commissioning of the Leigh Creek Copper Mine once we complete the transaction."
     
  19. Groucho

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  20. Groucho

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    9 February 2018


    Strategic Minerals plc

    ("Strategic Minerals" or the "Company" or "SML")


    Cobre Magnetite Stockpile Access Extended


    Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, is pleased to announce that the Company's access to the Cobre magnetite stockpile in New Mexico, USA has been extended to 31 March 2019.


    Southern Minerals Group ("SMG"), the wholly owned subsidiary of the Company, has an existing contract with the owner of the Cobre Mine for access to the magnetite stockpile, which is subject to an annual extension. SMG has received confirmation from the Cobre Mine owner that the existing contract will roll over providing guaranteed access until 31 March 2019. In line with the contract, an automatic one-year extension will occur should the owner, prior to 28 February 2019, fail to notify SMG, in writing, of its intention to terminate the contract.



    Commenting, John Peters, Managing Director of Strategic Minerals, said:

    "We are delighted to have our access at Cobre extended until April 2019 considering our expectation that the strong sales achieved in 2017 will continue this year. We have a good working relationship with the mine owner and, on this basis, it would suggest that the contract will ultimately continue to rollover until the entire stockpile is removed.


    The expected Cobre sales and existing cash balances place the Company in a strong position from which we hope to be able to internally fund exploration programmes at Hanns Camp/Mount Weld and Redmoor and provide capital to restart the Leigh Creek Copper Mine operations.


    The Board believes that the contract extension augurs well for another important year for the Company."
     

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