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The latest update is out from Strategic Minerals ( (GB:SML) ).
Strategic Minerals has completed drillhole CRD042 at its Redmoor project, intersecting the full thickness of the Sheeted Vein System and encountering extensive wolframite, cassiterite and chalcopyrite mineralisation both within and beyond the main structure. The company reports successful use of navigational and wedge drilling to meet tight infill spacing requirements, with samples from CRD042 being dispatched for laboratory analysis and drilling already progressing to hole CRD043 from the same pad.
Backed by £8.7 million raised earlier this year and a recent resource update, Strategic Minerals has expanded its fully funded Redmoor drilling programme to 22,500 metres across at least 44 holes to complete infill drilling, upgrade its exploration target and gather data for geotechnical, metallurgical and hydrogeological studies feeding into a prefeasibility study. Cornwall Resources has applied for planning permission to add two more rigs, which are on standby, in a move that could accelerate project timelines and strengthen Redmoor’s position in the European critical minerals supply chain once permits are granted.
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 plc is an international mineral exploration and production company focused on the Redmoor tungsten‑tin‑copper project in Cornwall, U.K., which it develops through its wholly owned subsidiary Cornwall Resources Limited. The Redmoor deposit is positioned as one of Europe’s highest‑grade undeveloped tungsten resources, targeting critical metals supply for regional and wider markets.
Average Trading Volume: 33,975,311
Technical Sentiment Signal: Buy
Current Market Cap: £157.9M
Learn more about SML stock on TipRanks’ Stock Analysis page.