Business
Match Grant Funding Investment for Redmoor Project
Match Grant Funding Investment for Redmoor Project.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n\n \n \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 \n \n7 April 2025\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\")\nMatch Grant Funding Investment for Cornish Critical Minerals Project\nExploration and drilling to enable accelerated development of Redmoor Tungsten-Tin-Copper Project\n Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce that its wholly owned subsidiary, Cornwall Resources Limited (\"CRL\"), has finalised grant funding of over £764k with the UK Government through the UK Shared Prosperity Fund (\"SPF\"). Cornwall Council is responsible for managing projects funded by the UK Shared Prosperity Fund through the Cornwall and the Isles of Scilly Good Growth Programme.\nThe grant funding, which will be equally matched by Company expenditure up to a total Project spend of £1,529,701, will enable new exploration activities, including borehole drilling, aimed at accelerating the development of the Company's Redmoor Tungsten-Tin-Copper Project (\"Redmoor\") in Cornwall. This will be the first new exploration drilling to be undertaken at Redmoor since 2018.\nHighlights:\n· Project titled: \"Exploration Drilling and Associated Activities to Enable Accelerated Development of the Redmoor Critical Minerals Project\" (the \"Project\")\n· SPF will fund 50% of the Project expenditure to advance Redmoor, matching the Company's contribution up to a total aggregate investment of £1,529,701\n· Within the 12-month Project timeframe, the Company aims to:\no Undertake c.5,000m of new diamond core drilling and other associated activities\no Complete the ongoing relogging programme\no Combine the results of new drilling and relogging with the aim to produce a new, upgraded and enlarged mi...