Strategic Minerals Navigates Turbulent 2023

Strategic Minerals Europe Corp (TSE:SNTA) has released an update.

Strategic Minerals Europe Corp. faced a challenging year with the suspension of their Penouta Project, leading to a record net loss of $16.9 million in 2023 despite achieving record sales and production levels earlier in the year. The company’s share price decline prompted a significant impairment loss and led to an agreement to be acquired by IberAmerican Lithium Corp. Amid these developments, the company reported a 10% increase in revenue to $12.8 million for the year.

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