StockMarketWire.com - Battery minerals focused Strategic Minerals said sales from its Cobre magnetite stockpile in New Mexico had risen 89% in the June quarter on-year.

Sales for the three months through June had increased to 14,733 tonnes, up from 881 tonnes in the previous corresponding period.

'The encouraging performance at Cobre during the June 2020 quarter, particularly given the more challenging global overlay, has underwritten both operations and minimised funding required to repay the loan associated with taking full ownership of Redmoor,' managing director John Peters said.

'The company's key focus is on moving both the Leigh Creek and Redmoor projects forward in a manner that avoids dilution at the parent level.'

'The strong copper price rebound, and sustained positive commodities outlook, bodes well for Leigh Creek's potential economic returns and strengthens its attractiveness to potential joint venture partners.'


At 9:53am: [LON:SML] Strategic Minerals PLC share price was 0p at 0.43p



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