Strategic Minerals Share Discussion Threads

[imjustdandy] 07/10/2024 06:22

The engines have now started on this giant Cornwall asset which is very very encouraging. SML now has all 3 assets in play at long last. I can see this heading back towards 2 pence without much too much difficulty. Cornwall is now in play and that's what the market has been waiting for. Q3 results from Cobre next week are expected to be strong too. You won't get to buy much stock below 0.4 today. Onwards to 2p

[imjustdandy] 07/10/2024 06:08

Who seen that coming. Absolutely spectacular. Going back over a penny on genuine strong fundamentals which are beginning to play out at long last.

[bri15] 01/10/2024 14:45

Ticked up finally,24 paid 👍

[bri15] 01/10/2024 13:12

Few more buys and we may tick up,and not before time.

[imjustdandy] 29/9/2024 06:53

New Beginning at Last


This has flat lined for over 3 years as the direction of the business has been geared towards Directors. With Charles Manners now in the Chair (who is also the largest shareholder) expect a real focus on the share price and substantial shareholder value. A lot of shareholders lost their patience these past 3 years listening to the Broome and Co which is understandable. Broome is gone and others are only 2 chairs behind him. I’m optimistic this Chairman is about to make it all happen. A NEW BEGINNING. Dont be surprised if Mark Burnett moves into the CEO role which would be excellent.

[imjustdandy] 28/9/2024 10:38

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.

[imjustdandy] 27/9/2024 12:51

The current share price all but rules out funding these projects through the issue of new equity and the Board is focussed on how best to re-establish momentum in the share price. We believe the strategic nature of tungsten, as a critical mineral, in the current political climate will make Redmoor the key focus of the Company moving forward.

[imjustdandy] 27/9/2024 09:21

Spread has vanished now we have strong interest. 0.206 - 0.23Lovely

[sleveen] 27/9/2024 09:05

SML will be preping for the new major client due to start receiving product in 2025.

[parob] 27/9/2024 09:01

Zeus Capital's Paul Smith discusses recent visits to the listed companies operating in Cornwall & reports the progress being made at CRL/#SML's Redmoor tungsten-tin project & #Cornish Metals' tin mine restart at South Crofty #CUSN hTTps://zeuscapital.co.uk/exclusives/1560769375/?utm_medium=email&_hsenc=p2ANqtz--cSNlF-6sAz_StwAXxaLYQln2c2OoXTZNhBCU6RgCuDCj-ATW1D8uzU6XqkQT0sdUyjQu_Y9KJjZsCRXtea7VHIn5JRdmEmwXrXuztA2YlT9CBJjY&_hsmi=95693118&utm_content=95693118&utm_source=hs_email

[imjustdandy] 27/9/2024 08:16

Yesterdays results were pretty spectacular on reflection. The business tipped out almost 1m profit for the first 6 months and the CEO advised the second half will be pretty brisk too. He was in the process of drafting the Q3 report which is usually released in Early October. Cobre looks to be on track to deliver a profit of £1.4m this year and the current market cap is less than £4m. Thats a PE of less than 3 for a cash generating business and that profit is only coming from 1 division (COBRE). That leaves the business with 2 fully paid assets on the Balance sheet for free. Leigh Creek is being marketed for sale or will be combined with another partner and then listed on the Australian stock market. Cornwall was purchased for £5m and is turning into a prized asset.

Market price is way wrong on this now and is easily worth £15m or 1p plus

New Chairman invested at the time of the Cornwall acquisition and participated in the placing at 2p. He has now stepped onto the Board to make this all happen.

[z1co] 27/9/2024 07:29

H1 sales were the highest since 2017 and this momentum is continuing in H2 leading to full year sales to be in excess of $4.5m.

[imjustdandy] 27/9/2024 06:26

Not many small miners making over 1m per year in profits and generating strong cash. There's a serious material re rate on the cards here as the market cap is only 4.5m

[imjustdandy] 27/9/2024 01:08

Q3 update is usually around mid October. More positive news then will move this forward materially .

[imjustdandy] 27/9/2024 01:04

We now need momentum and consistently good news flow between now and year end and this will breach a penny. The CEO already said in yesterday's interview that Q3 update will be out soon and Cobre momentum is continuing. Too cheap down here

[imjustdandy] 26/9/2024 14:21

Spread is not as bad as the the yellow strip indicates. Currently 0.175 - 0.225

[flashheart] 26/9/2024 13:28

Agree with the above and not aholder yet but watching. The spread though is absolutely ridiculous to contemplate anything yet at this time.

[jotoha2] 26/9/2024 13:26

Rubbish spread , only for dreamers at this stage , lets have some major project investments , will it come ..............no!

[parob] 26/9/2024 13:20

I think that's why some people are hesitant to buy in due to the false starts in the past. Cobre sales are ramping up now, and I anticipate another revenue upgrade later this year. Things feel different but let's see. Could see quite a move once we break the downtrend imo from this market cap.

[imjustdandy] 26/9/2024 13:12

It's going somewhere this time. It's had a lot of false starts but not this time

[z1co] 26/9/2024 12:36

Strategic Minerals shares rise, as interims show strong cash flow and boosted profits

08:57, 26th September 2024

Alastair Ford
Vox Newswire

Shares in Strategic Minerals jumped by nearly 50% to 0.06p in early trade September 26th, after the company put out interim results for the six months to June 2024.

The return of a major client for the American iron ore business positively impacted cash flow and helped sales for the six months climb to US$2.136 million, the highest six month revenue since 2017.

This provides an outlook for 2024 sales of more than US$4.5m.

With increased sales has come increased operating profitability. The pre-tax profit for the period was US$950,000, up from US$54,000 in the corresponding period a year earlier.

After tax profit was US$667,000.

During the period US$325,000 was invested in the company's development projects, Redmoor tungsten and tin Mine and Leigh Creek Copper Mine.

US$258,000 of accrued creditors were repaid in the period.

Executive Directors' fees were temporarily reduced in 2024 reflecting undertakings associated with 2023.

Unrestricted cash as at 30 June 2024 was US$280,000.

View from Vox

Strategic Minerals has released a tight set of results, showing just what it can achieve with a fair wind behind it. Much potential remains in the development projects, and with the cash generation running strong once again, we could start to see significant progress.

[imjustdandy] 26/9/2024 12:33

I can remember when this was 3p and the recently appointed chairman participated in a 2p placing to purchase Cornwall. Looks like everything has been bottomed out at last and our new chairman will want at least 2p and more back. 10 bags

[ajmace] 26/9/2024 12:12

You're quite right, I'mjustdandyThis is now a no-brainer at this price.

[imjustdandy] 26/9/2024 11:58

Cobre looks like booking an annual profit of £1.4m this year. Market cap only £4mThey paid about £5m for Cornwall and they trying to sell Leigh creek SML doesn't have any debt. Market asleep at the wheel.