Business
Audited results for year ended 31 December 2012
Audited results for year ended 31 December 2012.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6060F Strategic Minerals PLC 28 May 2013 \n \n\nFor immediate release: 28 May 2013\n \nStrategic Minerals Plc\n(\"Strategic Minerals\", \"Group\" or the \"Company\")\n \nAudited results for the year ended 31 December 2012\n \nStrategic Minerals Plc (AIM: SML; USOTC: SMCDY), the magnetite iron ore producer and exploration company, is pleased to announce its audited results for the year ended 31 December 2012. \n \nPerformance highlights 2012\nWe achieved our 2012 objectives in full, as Strategic Minerals transitioned from project developer to magnetite supplier to the global marketplace as operations at our Cobre stockpile moved into full-scale production. Sales to United States domestic customers at mine gate commenced in 2012 and our first export shipment was completed in November.\n \nFinancial performance\n· £3.1 million new equity raised in April 2012\n· Total revenues of £3.75 million generated from both US domestic and export sales (2011: nil)\n· Loss for the period £4.36million (2011:£3.41million)\n· Loss per share basic and diluted 1p (2011:1.22p)\n \nOperational performance\n· Key development milestones reached, with completion of rail upgrade at Cobre in June, first test shipment to the Port of Guaymas, Mexico, in August and first export market shipment of 48,000 dry metric tonnes (\"DMT\") to Glencore AG in November\n· Off-take contract secured with Glencore for supply of an initial 800,000 wet metric tonnes (\"WMT\")\n· Sales to domestic customers commenced in 2012 with truck sales at the mine gate\n· Exploration results at Iron Glen, Queensland from 30+ hole drill programme indicate the presence of lead, silver, copper and zinc in addition to magnetite\n· Detailed evaluation and review of Australian exploration assets completed\n \nPost Period Highlights\n· £4.2 million net equity raised in February 2013 to provide operational working capital\n· On-going export shipments commence under Glencore off-take contract\n· &n...