Business
Interim Results - Half Year to 30 June 2021
Interim Results - Half Year to 30 June 2021.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5729N\n Strategic Minerals PLC\n 30 September 2021\n \n \n \n Market Abuse Regulation (MAR) Disclosure\n Certain 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 \n Strategic Minerals plc\n (\"Strategic Minerals\", \"SML\", the \"Group\" or the \"Company\")\n \n Interim Results\n \n Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company actively developing projects prospective for battery materials, is pleased to announce its unaudited interim profit for the half year ended 30 June 2021.\n \n Financial Highlights\n \n · Interim six-month pre-tax profit of US$388,000 (H1 2020: US$261,000) reflecting reduced overheads in and a reduction in impairment charges.\n \n · After tax profit for the interim six months of US$207,000 (H1 2020 US$77,000).\n \n · US$48,000 of share-based payment expense for the interim six-month period reflects the final charge relating to options which expired 30 June 2021.\n \n · During the period, Southern Minerals Group received a US$50,000 Covid-19 government grant which was used to partially offset direct payroll costs.\n \n · Unrestricted cash and cash equivalents at 30 June 2021 were US$734,000 (31 Dec 2020: US$833,000).\n \n \n \n \n Corporate Highlights\n \n \n · Maintenance of uninterrupted operations at Cobre despite the impact of Covid -19.\n \n · Access to the Cobre magnetite stockpile rolled over for the 9th time\n Commenting, John Peters, Managing Director of Strategic Miners, said:\n \"The first half of 2021 has again been globally trying. Continued prudent management has seen the Company maintain and improve underlying operations to produce a strong result for the period.\n \"With the post balance date granting of a conditional Program for Environment Protection and Rehabilitation (\"PEPR\") for mining of the Paltridge North deposit at the Leigh Creek Copper Mine project, the Company is looking forward to getting into operations, subject to procuring suitable finance, next year. While the conditions associated with the PEPR were broadly in line with the Company's expectations, they have required a more \"in depth\" description of the planned mine which has, d...