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Strategic Minerals ( (GB:SML) ) just unveiled an update.
Strategic Minerals plc has received a payment of A$100,000 from Axis Mining & Minerals Pty Ltd for an exclusive call option to acquire the Leigh Creek Copper Mine. This agreement allows Axis Mining & Minerals to potentially acquire the mine for A$1.9 million in cash, with additional share and earn-out considerations, positioning Strategic Minerals to benefit from future commercial production at the site.
More about Strategic Minerals
Strategic Minerals plc is an AIM-quoted minerals company engaged in developing strategic projects across the UK, United States, and Australia. The company owns Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project in the UK, and the Cobre magnetite project in New Mexico, USA. Additionally, it acquired the Leigh Creek Copper Mine in South Australia in 2018.
Average Trading Volume: 6,026,821
Technical Sentiment Signal: Buy
Current Market Cap: £6.7M
For a thorough assessment of SML stock, go to TipRanks’ Stock Analysis page.