Business
Cobre August Sales
Cobre August Sales.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 7659P Strategic Minerals PLC 05 September 2017 \n\nMarket Abuse Regulation (MAR) DisclosureCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n5 September 2017\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\" or \"SML\")\n \nCobre August Sales Doubles Previous Monthly Record\n \nStrategic Minerals PLC (AIM: SML; USOTC: SMCDY), the minerals production and development company, announces that it has achieved record domestic sales at its Cobre magnetite stockpile in New Mexico, USA (\"Cobre\") during the month of August 2017, more than doubling the previous record posted in July 2017. Cobre is operated by Strategic Minerals' wholly owned subsidiary, Southern Minerals Group LLC (SMG). \n \nDuring August 2017, SMG sold US $999,064 (13,897 tons) of magnetite from Cobre compared to July 2017 when it sold US $486,560 (7,206 tons). In addition to sales significantly increasing, the average sales price has also improved. \n \nThe strong sales in July and August represent 96% of 2016's annual sales and 119% of 2015's annual sales. The robust July and August sales performances have already ensured that the Q3 2017 quarterly update will report a new quarterly domestic sales record for the Company. \n \nClovis Hooper, President of SMG, has successfully geared up operations at Cobre to cater for the increased volumes. The July and August volumes partially reflect, as reported in the June quarterly update, the 4,000 tons our major client prepaid in June as they were not in a position to receive the material at the time and were obligated, under their contract with SMG, to take a minimum of 4,000 tons a month.\n \nThe Company's Managing Director, John Peters, said:\n\"The second half of 2017 continues to deliver robust results and newsflow for Strategic Minerals as we continue to strive to achieve a £100m market capitalisation for the Company.\n\"Credit should be given to the team at Southern Minerals Group, and Clovis Hooper in particular, for rising to the logistical challenge at Cobre of moving significant stockpiles of material by truck in order to achieve record magnetite sales. \n\"The performance at ...