Business
Operational and Corporate Update
Operational and Corporate Update.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 4489N Strategic Minerals PLC 28 July 2014 \n \n\n28 July 2014\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\")\n\nOperational and Corporate Update\n \n \nThe Board of Strategic Minerals Plc (AIM: SML; USOTC:SMCDY), is pleased to provide an operational and corporate update for the quarter to 30 June 2014.\n \nHighlights:\n \n· Cobre domestic sales remain strong with 86% of the previous full year's product sold in the first six months of this year\n· Approvals for an exploration programme on the Jotanooka Project in Western Australia commenced\n· Revised corporate strategy continues to evaluate a number of acquisition opportunities in tin, copper, iron ore, gold and other high value strategic minerals\n· A board restructure was completed during the quarter and the appointments of Mr McInally and Mr Hobbs were confirmed at the Company's Annual General Meeting held in London\n· Launch of website for SML's wholly owned subsidiary, Southern Minerals Group, which operates the Company's Cobre asset ('Cobre') in New Mexico\n· Cash of US$1.29M at 30 June 2014 \n \nCommenting on the update Mr Julien McInally said, \"Sales for domestic iron ore from our magnetite tailings project in New Mexico continues to see strong demand with 86% of last year's full year product sold in the previous six month period. The Company continues to evaluate a number of other near term production opportunities in line with our stated strategy of diversifying the portfolio. We look forward to updating shareholders as and when these opportunities progress further.\"\nThe Cobre magnetite tailings operation in New Mexico\nThe Cobre magnetite tailings operation in New Mexico continues to service domestic magnetite customers. Sales for domestic product continue to be strong on a year to date basis with 86% of last year's product sold in the previous six month period. This represents a 44% improvement to the same six month period last year with domestic sales margins remaining strong for the period.\nThe Company launched a local US website for Southern Minerals Group, which operates the Company's Cobre operation, which has increased our electronic...