Strategic Minerals PLC Receipt of Shares in Cornwall Resources Limited (0799W)
06 February 2017 - 6:00PM
UK Regulatory
TIDMSML
RNS Number : 0799W
Strategic Minerals PLC
06 February 2017
6 February 2017
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Receipt of Shares in Cornwall Resources Limited
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified
mineral production and development company, confirms that it has
exercised its remaining option to purchase further shares in
Cornwall Resources Limited ("CRL", formerly called "NAE Resources
(UK) Limited"), making a payment of GBP843,649, and has been issued
a further 248,864 shares in CRL. This brings SML's shares in CRL up
to 309,837, which matches that of its joint venture partner, New
Age Exploration Limited.
Commenting, Strategic Minerals' Managing Director, John Peters,
said:
"The funding of the option payment now sets the framework in
place for progressing the 2017 Redmoor tin/tungsten drilling
programme near Kelly Bray, Cornwall. We look forward to updating
the market on the drilling programme in the first quarter of
2017."
Please refer to the announcement made by the Company on 26(th)
May 2016, for more information about the Redmoor tin/tungsten
project and the particulars of the option to acquire up to a 50%
interest in CRL.
For further information, please contact:
Strategic Minerals
plc
John Peters
Managing Director
www.strategicminerals.net
Follow Strategic Minerals
on:
Twitter: @SML_Minerals +61 (0) 414
LinkedIn: strategic-minerals-plc 727 965
SP Angel Corporate
Finance LLP
Nominated Adviser and
Joint Broker
Ewan Leggat +44 (0)20 3470
Laura Harrison 0470
Optiva Securities Limited
Joint Broker +44 (0)20 3411
Graeme Dickson 1880
Yellow Jersey PR
Financial PR
Felicity Winkles
Alistair de Kare-Silver +44 (0)7825
Joe Burgess 916 715
Notes to Editors
Strategic Minerals Plc is an AIM-quoted, diversified mineral
development and production company with projects in the United
States of America and Australia. The Company is focused on
acquiring and developing cash generative, high quality projects
which meet local market demand for commodities and utilising this
cash flow to undertake value added exploration.
In September 2011, Strategic Minerals purchased its first cash
generating asset; the Cobre magnetite tailings dam project in New
Mexico, USA which it brought into production in 2012 and which
continues to provide a revenue stream for the Company. The
portfolio was expanded in January 2016 with the acquisition of
shares in Central Australian Rare Earths Pty Ltd, which holds
tenements in Western Australia and the Northern Territory that are
prospective for nickel sulphides and rare earths. In May 2016, an
additional exploration asset was acquired when the company entered
into arrangements to take up to 50% of the Redmoor Tin/Tungsten
project in Cornwall, UK. The Company completed the acquisition of
these shares in February 2017.
This information is provided by RNS
The company news service from the London Stock Exchange
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February 06, 2017 02:00 ET (07:00 GMT)