- Strategic Minerals said subsidiary Southern Minerals Group had obtained an early rollover of access to the Cobre magnetite stockpile in New Mexico.

Contracts exchanged provided for access to be extended until 31 March 2020.

Annual access would automatically rollover on 31 March each year thereafter, unless written notice was provided not less than one month prior to the rollover date.

Chief executive John Peters said the company considered that access to the Cobre magnetite stockpile would continue to be provided until exhausted -- for at least six years.

'This early rollover is strategically significant for the company as it ensures access to positive cash flows while it prepares to commence its second income stream from Leigh Creek cooper mine,' he said.

At 1:22pm: [LON:SML] Strategic Minerals PLC share price was +0.03p at 1.45p

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