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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Strategic Minerals Plc | SML | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.002 | 0.81% | 0.25 | 08:00:03 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.25 | 0.25 | 0.25 | 0.25 | 0.248 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 28/9/2024 10:38 by imjustdandy Looks like our new Chairman who is also our largest shareholder is stopping the nonsense whereby this CEO has been over promoted and over paid. This is super encouraging and will allow SML to start building cash for shareholders again. Worth reading this section v carefully. Well done our new Chairman. This is very very encouraging and will definitely feed through into a stronger share price.The rebound in the Company's profitability in the first half of 2024 has been welcomed and largely reflects the return of Cobre's major client after a 14-month hiatus. To survive the rigors of 2023, the Company extended terms on its suppliers and paid only a small portion of the remuneration due to the Board and Management in 2023 and the beginning of 2024. Accordingly, after working capital stabilised, the Company prioritised repayment of external creditors which are now in line with market norms. Early in 2023, as the largest shareholder in Strategic Minerals, I pressed the Board on the lack of progress at its projects and the effect this was having on the Company's share price. The then Board acknowledged the difficulties it was encountering in securing investors/buyers at the asset level for the Leigh Creek Copper Mine ("LCCM") and the Redmoor Tungsten and Tin mine ("Redmoor"). The Board then volunteered that, should certain milestones around funding and share price not be met in 2023, the Board would forgo 50% of its remuneration. As one of the key potential funding sources dragged onto Q1 2024, some leeway was provided and the 2023 financial accounts reflected the full amount of Directors remuneration, accruing unpaid amounts to which an 8% per annum interest rate was applied. This rate was agreed by the then Board. As the proposed funding was not forthcoming, the Board, after the AGM in July, agreed to a temporary adjustment being made in the 2024 remuneration to Executive Directors that ensures 50% of the total Board's base remuneration in 2023 is recouped by the Company. These adjustments, as they relate to the first six months of 2024, are reflected in these interim results. Repayment of short-term funding facilities, raised for working capital purposes during the first quarter of 2024, along with amounts and interest accrued to Directors, are expected to be cleared in the second half of 2024. With sales at Cobre exceeding our previous expectations, we are confident on continued positive momentum for the second half of 2024, and the Company is actively working on securing similar arrangements for 2025. |
Posted at 19/8/2024 09:27 by troutisout Well if you look at the way the previous Chairman was forced to resign, most likely before he was going to be voted off the BoD at the GM, I think these two large investors have been active in trying to get the situation sorted and the Company to actually push forward to succeed with one or both of their 'dormant' assets. |
Posted at 09/7/2024 06:50 by iceagefarmer Cobre June Quarter Sales UpdateHighest on Record, Forecasts Upgraded Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company, is pleased to provide the following update on quarterly Cobre sales to 30 June 2024. Highlights • June quarter sales revenue of US$1.296m, up over c.250% on June quarter 2023 (US$367k). • Highest June quarter sales on record. • Full year sales in 2024 now upgraded and expected to exceed US$4.0m. • All outstanding creditors, excluding Directors and Management, are up to date. Cobre Sales The return of Cobre's major client and the addition of a substantial new client have resulted in the best June quarter on record. Not unexpectedly, this is an impressive 250%+ increase on the June 2023 quarter when Cobre's major client was not purchasing magnetite. However, this is also an impressive 95% increase on June 2022 sales, when the major client was active. Just how remarkable the past quarter's sales are is illustrated in the following graph which shows the spectacular performance at Cobre, further illustrating the Board's view that the market undervalues the Company. Note, the December 2019 quarter sales have excluded a one-off payment of $750,000 relating to the termination of the CV Investments contract. A graph with a line going up Description automatically generated Sales June Quarter 12 Months To June $'000 Volume $'000 Volume 2024 1,296 18,935 2,933 40,598 2023 367 4,162 1,898 23,856 2022 666 10,711 2,429 38,825 With over US$2m of sales (31,327 tons) in the first half of 2024, the Company considers it appropriate to upgrade the 2024 Cobre full year sales forecasts as volumes are now expected to exceed 60,000 tons (17,965 tons in 2023) resulting in upgraded revenues expected to exceed US$4.0m (US$1.6m in 2023). Cash Management As previously reported, the substantial reduction in sales during 2023 required careful financial management. The Company is happy to report that, with Cobre's excellent first half sales performance, creditor arrangements, excluding the Board and Management, are now up to date with one of the short-term funding facilities (AUD $50,000) now having been repaid. This leaves a further two facilities totalling AUD $100,000 expected to be repaid from Cobre sales by their maturity date in October. The Annual Report noted that, as of 31 December 2023, a substantial amount (US$360,000) was outstanding to the Board and Management in relation to 2023 remuneration and this has now increased, as of 30 June 2024, to US$518,000. Payment of deferred remuneration is likely to commence later this year and not be completed until the first half of 2025. Commenting, John Peters, Managing Director of Strategic Minerals, said: "The quarter's sales have exceeded our expectations and bode well for a strong performance at Cobre in 2024 with forecasted annual sales now upgraded and expected to exceed US$4.0m. "Management continues to progress negotiations with potential investors on both its Redmoor and Leigh Creek projects as well as seeing cautious signs of more widespread renewed investor interest. Until such time as a project related liquidity event occurs, the Company will continue to closely monitor short term cash flow and remains committed to avoiding the need for a dilutive capital raise, currently considered unnecessary." For further information, please contact: |
Posted at 09/7/2024 06:20 by iceagefarmer BOOM!Cobre June Quarter Sales Update Highest on Record, Forecasts Upgraded Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company, is pleased to provide the following update on quarterly Cobre sales to 30 June 2024. Highlights • June quarter sales revenue of US$1.296m, up over c.250% on June quarter 2023 (US$367k). • Highest June quarter sales on record. • Full year sales in 2024 now upgraded and expected to exceed US$4.0m. • All outstanding creditors, excluding Directors and Management, are up to date. Cobre Sales The return of Cobre's major client and the addition of a substantial new client have resulted in the best June quarter on record. Not unexpectedly, this is an impressive 250%+ increase on the June 2023 quarter when Cobre's major client was not purchasing magnetite. However, this is also an impressive 95% increase on June 2022 sales, when the major client was active. Just how remarkable the past quarter's sales are is illustrated in the following graph which shows the spectacular performance at Cobre, further illustrating the Board's view that the market undervalues the Company. Note, the December 2019 quarter sales have excluded a one-off payment of $750,000 relating to the termination of the CV Investments contract. A graph with a line going up Description automatically generated Sales June Quarter 12 Months To June $'000 Volume $'000 Volume 2024 1,296 18,935 2,933 40,598 2023 367 4,162 1,898 23,856 2022 666 10,711 2,429 38,825 With over US$2m of sales (31,327 tons) in the first half of 2024, the Company considers it appropriate to upgrade the 2024 Cobre full year sales forecasts as volumes are now expected to exceed 60,000 tons (17,965 tons in 2023) resulting in upgraded revenues expected to exceed US$4.0m (US$1.6m in 2023). Cash Management As previously reported, the substantial reduction in sales during 2023 required careful financial management. The Company is happy to report that, with Cobre's excellent first half sales performance, creditor arrangements, excluding the Board and Management, are now up to date with one of the short-term funding facilities (AUD $50,000) now having been repaid. This leaves a further two facilities totalling AUD $100,000 expected to be repaid from Cobre sales by their maturity date in October. The Annual Report noted that, as of 31 December 2023, a substantial amount (US$360,000) was outstanding to the Board and Management in relation to 2023 remuneration and this has now increased, as of 30 June 2024, to US$518,000. Payment of deferred remuneration is likely to commence later this year and not be completed until the first half of 2025. Commenting, John Peters, Managing Director of Strategic Minerals, said: "The quarter's sales have exceeded our expectations and bode well for a strong performance at Cobre in 2024 with forecasted annual sales now upgraded and expected to exceed US$4.0m. "Management continues to progress negotiations with potential investors on both its Redmoor and Leigh Creek projects as well as seeing cautious signs of more widespread renewed investor interest. Until such time as a project related liquidity event occurs, the Company will continue to closely monitor short term cash flow and remains committed to avoiding the need for a dilutive capital raise, currently considered unnecessary." For further information, please contact: |
Posted at 08/2/2024 13:37 by slingerman A lot of investors sell on news buy on rumour I dont know why.Wish I had funds to buy on the traders tree shake the drop in price was a bargain.. watch the sharks buying... |
Posted at 19/7/2022 08:04 by livewireplus Well it was about £8,750 worth that the MD has stuck his hand in his own pocket for ( todays Director Dealing RNS ) |
Posted at 01/7/2022 14:44 by iceagefarmer good interview,shame investors here lose their bottle |
Posted at 21/4/2022 07:04 by troutisout What that they have renewed a lease for exploration and believe the current metal price rises means it is more valuable, even though they twice caveat about rising mining costs.The reality is they had to renew the contract soon, for any sort of development to continue and there is still a long, long way to go before they actually start to mine anything and a huge amount to raise to do so. Hopefully this means they now have enough forward confidence to push on with more proving up which may attract a better partner/investor to develop the project. |
Posted at 28/1/2022 11:52 by troutisout tomboyb,Unfortunately the BoD have not managed to drive their projects forward, they have failed dismally in their dealings with Brenda and were defrauded. They haven't been truthful with investors and have taken large remuneration for treading water. So there is a massive trust issue with them. Then there is the fact that Redmoor requires lots of finance to get it anywhere near up and running and a quick look back to see what SML paid for 50% of the project not that long ago, will tell you that valuations can be rather different in what investors think and what is reality. The BoD were hoping for revenues from Leigh Creek to push Redmoor forward, this hasn't been the case as delays have been continuously pushing back any PEPR and re-start of the mine down there (they still haven't actually proved the process down there will work and extract Cu, their previous attempt failed and produced just 5 tonnes of Copper Cement). So it is a huge risk, but one which could have a good reward, however the dilution over the past couple of years has washed many investors out (at one point I held over 2% of the SML shares, which at the time with their 50% ownership of Redmoor, I had over 1% of the project and felt like Poldark). I cannot see them being able to stop the dilution happening again, their attempts at getting finace for Leigh Creek have gone from pillar to post and they still haven't got anything, Redmoor requires far larger sums and the current BoD have not proved themselves of being capable of delivering anything there, in fact they have lost staff from the project as it sits there doing little or nothing. Best case scenario (after getting a new BoD) is a sale of Redmoor for a few million and let someone else drive it forward and concentrate on Leigh Creek, however that still needs to be given approval and prove they can mine commercial amounts of Copper Cement. Good Luck.... |
Posted at 28/1/2022 11:25 by tomboyb I remember our BOD saying about 2 years ago that our Redmoor project was further advanced and potentially as good a resource as the (Strongbow) South Crofty project. So, what I genuinely can’t way up now is why is CUSN (formerly Strongbow) market cap at £75m and yet the SML Mcap remains at a lowly £7m?Any suggestions or ideas? Are we massively undervalued and overdue a re-rate? Would be nice to see some of the CUSN investors buying a few SML shares! I've got a few SML and hold CUSN - My stake in CUSN was bigger, but at around 30p had to take a slice off - |
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