Strategic Minerals ( (GB:SML) ) has shared an update.
Strategic Minerals plc has entered into a non-binding Heads of Agreement with Axis Mining & Minerals Pty Ltd to potentially sell its Leigh Creek Copper Mine in South Australia. The agreement includes a non-refundable payment and an option for the purchaser to acquire the mine for A$1.9 million, with additional earn-out considerations. This move aligns with Strategic Minerals’ strategy to focus on its high-grade Redmoor project in Cornwall, potentially impacting its operational focus and stakeholder interests.
More about Strategic Minerals
Strategic Minerals plc is an AIM-quoted minerals company engaged in the exploration and production of strategic projects across the UK, United States, and Australia. The company has completed significant acquisitions, including Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK. It also holds distribution rights to the Cobre magnetite project in New Mexico, USA, and acquired the Leigh Creek Copper Mine in South Australia.
YTD Price Performance: 30.0%
Average Trading Volume: 5,459,345
Technical Sentiment Signal: Sell
Current Market Cap: £6.55M
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