Strategic Minerals PLC Leigh Creek Copper Mine Update (1458U)
31 Marzo 2021 - 5:05AM
UK Regulatory
TIDMSML
RNS Number : 1458U
Strategic Minerals PLC
31 March 2021
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
31 March 2021
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Leigh Creek Copper Mine Update
Response to Government Request For Further Information
Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a profitable,
producing mineral company is pleased to confirm that its wholly
owned subsidiary, Leigh Creek Copper Mine ("LCCM"), has lodged a
response to the request for further information from the South
Australian Department of Energy and Mining ("DEM") in relation to
LCCM's Programme for Environmental Protection and Rehabilitation
("PEPR") application to mine LCCM's Paltridge North deposit.
Commenting, John Peters, Managing Director of Strategic
Minerals, said:
"The submission of the further information sought reflects the
on-going dialogue that LCCM has maintained with the DEM and
reflects the prudent policies the South Australian government
follows in ensuring mining projects are environmentally robust.
"It is the Board's view that this is likely to be the final
submission required for approval and that this is likely to occur
in the second quarter of 2021.
"Subject to receipt of the PEPR approval and funding, the
Company expects to commence mobilisation and mining in the third
quarter of 2021 with revenue commencing in the last quarter of
2021. "
For further information, please contact:
+61 (0) 414 727
Strategic Minerals plc 965
John Peters
Managing Director
Website: www.strategicminerals.net
Email: info@strategicminerals.net
Follow Strategic Minerals on:
Vox Markets: https://www.voxmarkets.co.uk/company/SML/
Twitter: @SML_Minerals
LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc
+44 (0) 20 3470
SP Angel Corporate Finance LLP 0470
Nominated Adviser and Broker
Matthew Johnson
Ewan Leggat
Charlie Bouverat
Notes to Editors
Strategic Minerals plc is an AIM-quoted, profitable operating
minerals company actively developing projects tailored to materials
expected to benefit from strong demand in the future. It has an
operation in the United States of America along with development
projects in the UK and Australia. The Company is focused on
utilising its operating cash flows, along with capital raisings, to
develop high quality projects aimed at supplying the metals and
minerals likely to be highly demanded in the future.
In September 2011, Strategic Minerals acquired the distribution
rights to the Cobre magnetite tailings dam project in New Mexico,
USA, a cash-generating asset, which it brought into production in
2012 and which continues to provide a revenue stream for the
Company. This operating revenue stream is utilised to cover company
overheads and invest in development projects orientated to
supplying the burgeoning electric vehicle/battery market.
In May 2016, the Company entered into an agreement with New Age
Exploration Limited and, in February 2017, acquired 50% of the
Redmoor Tin/Tungsten project in Cornwall, UK. The bulk of the funds
from the Company's investment were utilised to complete a drilling
programme that year. The drilling programme resulted in a
significant upgrade of the resource. This was followed in 2018 with
a 12-hole 2018 drilling programme has now been completed and the
resource update that resulted was announced in February 2019. In
March 2019, the Company entered into arrangements to acquire the
balance of the Redmoor Tin/Tungsten project which was settled on 24
July 2019 by way of a vendor loan which was fully repaid on 26 June
2020.
In March 2018, the Company completed the acquisition of the
Leigh Creek Copper Mine situated in the copper rich belt of South
Austra lia and brought the project temporarily into production in
April 2019. The project currently awaits clearance from the South
Australian Government of its lodged Program for Environmental
Protection and Rehabilitation (PEPR).
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