Business
Q1 Cobre Magnetite Sales and Cash Balance Update
Q1 Cobre Magnetite Sales and Cash Balance Update.
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3486V\n Strategic Minerals PLC\n 14 April 2021\n \n \n \n \n Market Abuse Regulation (MAR) Disclosure\n \n \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 \n \n \n \n 14 April 2021\n \n \n Strategic Minerals plc\n \n \n (\"Strategic Minerals\" or the \"Company\")\n \n \n March Quarter 2021 Magnetite Sales and Cash Balances\n \n \n Strong Cobre Sales Continue \n \n \n Strategic Minerals plc (AIM: SML; USOTC: SMCDY), \n a profitable producing mineral company\n , is pleased to provide the following update on the Company's cash position and ore sales at the Cobre magnetite operation in New Mexico, USA (\"Cobre\") for the quarter ended 31 March 2021.\n \n \n Highlights\n \n \n · Annual Cobre sales continue to exceed US$3m\n \n · Revenue growth of over 12% year on year at Cobre\n \n · \n Group cash balance of US$0.686m as at 31 March 2021\n \n \n \n \n \n Sales update: Cobre magnetite tailings operations\n \n \n The 2021 March quarter saw sales at Cobre continue to grow, with revenues rising by over 12% year on year. Sales remained robust and the positive annual growth highlights both the strong underlying demand and the Southern Minerals Group (\"SMG\") team's ability to maintain \"contactless\" operations, therein protecting both our personnel and clients.\n \n \n Sales comparisons on quarterly and annual periods to 31 March 2021, along with associated volume details, are shown in the table below:\n \n \n \n \n \n \n \n \n \n \n \n \n Tonnage\n \n \n \n \n \n \n \n \n \n \n \n Sales (US$'000)\n \n \n \n \n \n \n \n \n \n Year\n \n \n \n \n 3 months to March\n \n \n \n \n 12 months to March\n \n \n \n \n \n \n \n \n \n \n \n 3 months to March\n \n \n \n \n 12 months to March\n \n \n \n \n \n \n 2021\n \n \n \n \n 13,002\n \n \n \n \n 51,567\n \n \n \n \n \n \n \n \n \n \n \n 771\n \n \n \n \n 3,032\n \n \n \n \n \n \n 2020\n \n \n \n \n 12,953\n \n \n \n \n 45,998*\n \n \n \n \n \n \n \n \n \n \n \n 764\n \n \n \n \n 2,698*\n \n \n \n \n \n 2019\n \n \n \n \n 9,471\n \n \n \n \n 42,401\n \n \n \n \n \n \n \n \n \n \n \n 553\n \n \n \n \n 2,480\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n* For comparison ...