Vast Resources Share Discussion Threads

[dodge_city] 09/7/2024 10:51

The license will have to be renewed before and if any finance is forthcoming.

[1347] 09/7/2024 10:44

Anyone seen Lucy or Swiss Toni? Thought not.

[teaboy100] 09/7/2024 10:37

Plenty of noise in his echo chamber

[bionicdog] 09/7/2024 10:36

Do you have level 2 ice?

[kemche] 09/7/2024 10:33

Have you heard anything iaf?

[iceagefarmer] 09/7/2024 10:24

obsessive!

[iceagefarmer] 09/7/2024 10:18

yet spread 0.17p- 0.21p

[iceagefarmer] 09/7/2024 10:17

dummy sell 0.185p

[iceagefarmer] 09/7/2024 07:54

get some ammo for vast today...SML

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:

[dil 21] 08/7/2024 23:18

Bellamy for Wales manager.

[leewink1] 08/7/2024 21:51

River Cam pmsl

[bionicdog] 08/7/2024 18:35

Short anything that iceagefarmer pumps.

[chinese investor] 08/7/2024 18:32

The river Cam in Cambridge !

[iamlucinda] 08/7/2024 18:27

hiya.
Any tips for short term punts? ta

[shortsqueezer] 08/7/2024 18:25

Me too. So cheap ! :-)

[leewink1] 08/7/2024 18:22

I bought 10 billion myself . . .

[bionicdog] 08/7/2024 17:34

Pretended to anyway.

[iceagefarmer] 08/7/2024 17:25

nevermind ive averaged down

[bionicdog] 08/7/2024 15:03

Good for you. If only you'd done a real sell years ago.

[iceagefarmer] 08/7/2024 14:47

just done a dummy sell.. 0.1833p

[bionicdog] 08/7/2024 14:42

Yes , iceagefarmer lost all his money then too.

[kemche] 08/7/2024 14:41

This is looking very much like QXL 20 years ago.

I continue to average down.