Business
Cobre Magnetite Mine Update
Cobre Magnetite Mine Update.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6966V Strategic Minerals PLC 01 February 2017 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain 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 \n1 February 2017\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\" or \"SML\")\n \nCobre Magnetite Mine Update\n \nStrategic 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 28 February 2018.\nSouthern Minerals Group (\"SMG\"), the wholly owned subsidiary of the Company, has an existing contract with the owner of the Cobre mine under which it has access to the Cobre magnetite stockpile. The contract is currently subject to an annual extension, and SMG has received confirmation from the Cobre Mine owner that it is its intention to extend the existing contract to 28 February 2018. \n \nIn addition to securing this important 12 month extension, the Company and SMG are continuing to progress discussions with the mine owner to further extend the formal access period to the Cobre magnetite stockpile. \n \nCommenting, John Peters, Managing Director of Strategic Minerals, said: \n \n\"Our on-going dialogue with the mine owner is progressing and we hope to secure a more permanent, mutually beneficial arrangement for future operations at Cobre. In the meantime, we are pleased that the existing contract has been extended to 28 February 2018 and look forward to adding new customers and increasing sales.\"\n \nFor further information, please contact:\n \n \n\n\n\n\nStrategic Minerals plc\nJohn Peters\nManaging Director\nwww.strategicminerals.net\nFollow Strategic Minerals on:\nTwitter: @SML_Minerals \nLinkedIn: www.linkedin...