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Don't have an account? Click here to register.Strategic Minerals pleased with work at Redmoor
Wed, 22nd Aug 2018 10:55
(Sharecast News) - Producing mineral company Strategic Minerals updated the market on its interest in the Redmoor tin tungsten project in Cornwall on Wednesday, reporting that its joint venture partner New Age Exploration (NAE) had now funded its 50% of the Phase 1 development costs.The AIM-traded firm said that as such, its previous underwriting of all of Phase 1 funding had been cancelled, reducing its current commitment by half to £0.33m, which it had already funded.It said Phase 1 of the 2018 drilling programme had now started, and was aimed at extending the Redmoor High Grade Inferred Resource within the broader sheeted vein system.Two holes had been completed of the seven-hole programme for 4,000m, with two further holes underway.It reported "encouraging mineralisation" intersected in both completed holes, with assay results expected in September.Both drilling rigs were said to be performing "well", with Phase 1 drilling expected to be completed in early October, slightly ahead of schedule.Results from the full Phase 1 programme were expected to be available in November.A cash payment of £0.1m, net of fees, was received from the UK Government for research and development tax relief for the years ending June 2016 and June 2017, the firm added.A further research and development claim for the year ending June 2018 would be finalised and submitted this year.In September, a decision by the joint venture partners SML and NAE was expected to be made on drilling Phase 2 of the 2018 programme - a further eight holes for 3,500m.The board said that would be aimed at further extending the Redmoor high-grade resource, and increasing the level of confidence of a "significant" part of the resource to an indicated mineral resource classification."I am extremely pleased with the steady progress being made at Redmoor," said Strategic managing director John Peters."The preliminary results from the first two holes, the funding from our joint venture partner and the receipt of research and development tax relief all bode well for the future of the project."Peters said the 2018 drilling programme was designed with the expectation of delineating a sufficient resource to justify proceeding to a pre-feasibility study in 2019."While the board and management consider that the Redmoor project represents significant value, it believes that the provision of the pre-feasibility study will provide the necessary basis for the market to appropriately value this asset."The company looks forward to updating the market on progress at Redmoor throughout the rest of the year."
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29 Dec 2022 07:43
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(Alliance News) - Strategic Minerals PLC on Thursday said price increases in July had boosted quarterly revenue, as it hoped for government funding for its Redmoor project.
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Strategic Minerals positive after recent price increases
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IN BRIEF: Strategic Minerals finds new areas of mineralisation at DDC
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IN BRIEF: Strategic Minerals posts lower Cobre sales, cash balance
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UK shareholder meetings calendar - next 7 days
| Thursday 30 June | |
| 3i Group PLC | AGM |
| Ashtead Technology Holdings PLC | AGM |
| Borders & Southern Petroleum PLC | AGM |
| Caspian Sunrise PLC | AGM |
| Cobra Resources PLC | AGM |
| Crimson Tide PLC | AGM |
| ECSC Group PLC | AGM |
| Evraz PLC | AGM |
| Gresham House Energy Storage Fund PLC | AGM |
| GRIT Investment Trust PLC | AGM |
| Gulf Marine Services PLC | AGM |
| Hamak Gold Ltd | AGM |
| Hemogenyx Pharmaceuticals PLC | AGM |
| Immotion Group PLC | AGM |
| Inspiration Healthcare Group PLC | AGM |
| Inspired PLC | AGM |
| Jadestone Energy PLC | AGM |
| Kanabo Group PLC | AGM |
| Kropz PLC | AGM |
| Likewise Group PLC | AGM |
| Live Co Group PLC | AGM |
| Location Sciences Group PLC | AGM |
| LoopUp Group PLC | AGM |
| M&C Saatchi PLC | AGM |
| Microsaic Systems PLC | AGM |
| Nostra Terra Oil & Gas Co | AGM |
| Pathfinder Minerals PLC | AGM |
| Playtech PLC | AGM |
| Primorus Investments PLC | AGM |
| Rockfire Resources PLC | AGM |
| Roquefort Therapeutics PLC | AGM |
| Sanne Group PLC | AGM |
| Scottish Mortgage Investment Trust PLC | AGM |
| Serica Energy PLC | AGM |
| Supply@ME Capital PLC | AGM |
| Surface Transforms PLC | AGM |
| Synairgen PLC | AGM |
| Tower Resources PLC | AGM |
| Trainline PLC | AGM |
| ValiRx PLC | AGM |
| Victoria Oil & Gas PLC | AGM |
| Watchstone Group PLC | AGM |
| Friday 1 July | |
| All Star Minerals PLC | GM re name change to Marula Mining |
| Monday 4 July | |
| Active Energy Group PLC | AGM |
| Clean Invest Africa PLC | AGM |
| Securities Trust of Scotland PLC | AGM |
| Tuesday 5 July | |
| Immediate Acquisition PLC | AGM |
| Marks & Spencer Group PLC | AGM |
| Open Orphan PLC | AGM |
| Saga PLC | AGM |
| Smartspace Software PLC | AGM |
| Young & Co's Brewery PLC | AGM |
| Wednesday 6 July | |
| Assura PLC | AGM |
| ContourGlobal PLC | GM re acquisition by KKR |
| GSK PLC | GM re Consumer Healthcare demerger, Haleon listing |
| Mining Minerals & Metals PLC | AGM |
| PCF Group PLC | GM re director allotment authority |
| Puma Alpha VCT PLC | AGM |
| Shires Income PLC | AGM |
| Sirius Real Estate Ltd | AGM |
| Strategic Minerals PLC | AGM |
| Worldwide Healthcare Trust PLC | AGM |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
10 Jun 2022 09:24
Strategic Minerals annual profit halves; confident in resource prices
(Alliance News) - Strategic Minerals PLC on Friday reported a lower profit in 2021, as revenue fell.
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Strategic Minerals quarter marred by weaker January
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Strategic Minerals gets 10-year extension to Redmoor licence
(Sharecast News) - Strategic Minerals announced on Thursday that its wholly-owned subsidiary Cornwall Resources (CRL) has signed a 10-year extension to its Redmoor exploration licence agreement.
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IN BRIEF: Strategic Minerals gains extended access to Cobre stockpile
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