Business
Cobre Sales Update
Cobre Sales Update.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\")\nMarch Quarter 2025 Sales and Cash Balances\nStrategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company, is pleased to provide the following update on the Company's ore sales at the Cobre magnetite operation in New Mexico, USA (\"Cobre\") for the quarter ended 31 March 2025.\nHighlights\n· March quarter sales volumes of 17,162 tonnes (March quarter 2024: 12,393 tonnes), with year-on-year growth of 38%.\n· March quarter revenue of US$1.18m (March quarter 2024: US$0.84m), with year-on-year growth of 41%.\n· Group cash balance of US$0.53m as at 31 March 2025 (US$0.25m as at 31 March 2024 and US$0.62m as at 31 December 2024), principally due to increased activity at the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK (\"Redmoor\").\n· In January the Company announced the appointment of Mr Philip Haydn-Slater as an independent Non-Executive Director.\n· In February the Company announced additional tungsten and copper mineralisation identified by relogging of core programme at Redmoor, validating potential upside to the existing JORC (2012) compliant Mineral Resource Estimate (\"MRE\").\n \nSales update: Cobre magnetite tailings operations\nThe Company posted sales volumes of 17,162 tonnes in the March quarter 2025, a 38% increase on the March quarter 2024 results, equating to US$1.18m of sales revenues, itself a 41% increase on the March 2024 quarter.\nThe Company continues to benefit from the return of Cobre's major client in the 2024 operational year and the in-country team have consistently delivered when scaling operations to meet demand.\nSales comparisons for quarterly and annual periods to 31 March 2025, along with associated volume details, are shown in the table below:\n\n\n\n\n\n\n\nTonnage\n\n\n\n\n\n\n\n\nSales (US$'...