Strategic Minerals boosts Redmoor resource as Cobre cash flow funds expansion

The latest update is out from Strategic Minerals ( (GB:SML) ).

Strategic Minerals reported 2025 revenues of $4.2m from its Cobre magnetite operation, with margins improving to 85%, though profit before tax fell to $0.7m due to non-cash share-based expenses, lower Cobre profits, board restructuring costs and higher group activity, notably a $2.1m investment in the Redmoor project partially offset by UK grant funding. Year-end cash rose to $777k and the company has since raised a further £8.7m via equity placings, while securing an extension of Cobre stockpile access to 2029 and initiating the sale of its Leigh Creek copper asset.

At Redmoor in Cornwall, the company completed its first drilling campaign since 2018, delivering high-grade tungsten, tin and copper intercepts, identifying new mineralised structures and upgrading the JORC inferred resource to 17.4Mt at 0.65% WO₃ equivalent, reinforcing its status as Europe’s highest-grade undeveloped tungsten project. Updated economic analysis indicates materially improved project economics with strong NPV and IRR metrics, and management plans to use its bolstered cash position, expected Leigh Creek sale proceeds and continuing Cobre cash flows to accelerate Redmoor through a pre-feasibility study towards potential production.

Spark’s Take on SML Stock

According to Spark, TipRanks’ AI Analyst, SML is a Neutral.

The score is primarily supported by improved 2024 financial performance and strong technical uptrend signals. It is materially constrained by expensive valuation (high P/E and no dividend yield data) and technical overbought indicators that elevate near-term risk.

To see Spark’s full report on SML stock, click here.

More about Strategic Minerals

Strategic Minerals is an AIM-quoted international minerals company focused on exploration and production projects in the UK, United States and Australia, with key assets including the Redmoor tungsten-tin-copper project in Cornwall, the Cobre magnetite operation in New Mexico and the Leigh Creek copper project in South Australia. Through subsidiaries Cornwall Resources and Southern Minerals Group, it targets strategic minerals such as tungsten, tin, copper and magnetite, supplying diversified industrial customers and aiming to develop one of Europe’s highest-grade undeveloped tungsten deposits.

Average Trading Volume: 34,190,863

Technical Sentiment Signal: Buy

Current Market Cap: £143.8M

Learn more about SML stock on TipRanks’ Stock Analysis page.