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Strategic Minerals ( (GB:SML) ) has shared an announcement.
Strategic Minerals plc announced the successful completion of an oversubscribed placing, raising £1 million to accelerate the development of its Redmoor Tungsten-Tin-Copper project in Cornwall. The funds will be used to advance the project and support working capital, with the aim of formulating an investment-ready business case. The placing was supported by a match grant from the UK Government, highlighting the project’s potential impact on the diversification of tungsten supply, which is crucial for the defense, electronics, and manufacturing industries.
More about Strategic Minerals
Strategic Minerals plc is an AIM-quoted minerals company engaged in the exploration and production of strategic projects in the UK, United States, and Australia. The company owns the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK, and has interests in the Cobre magnetite project in New Mexico, USA, and the Leigh Creek Copper Mine in South Australia.
YTD Price Performance: 60.0%
Average Trading Volume: 4,879,032
Technical Sentiment Signal: Sell
Current Market Cap: £8.06M
For an in-depth examination of SML stock, go to TipRanks’ Stock Analysis page.