By Josh White
Date: Monday 23 May 2016
LONDON (ShareCast) - (ShareCast News) - Minerals production and development company Strategic Minerals announced its final numbers on Monday, with a cash position of $1.05m on 31 December 2015.
The AIM-traded firm said that during the year, it secured an early agreement to extend the Cobre mining rights to March 2017, and maintained a tight control on overheads with those falling 26% despite the increased activity.
It also reviewed its strategy, with the board undertaking an operating strategy seeking to maintain overheads, adopting a three-pronged investment strategy addressing coal and bulk minerals, advanced materials, and metals.
The numbers didn't lie, however, with revenue of $1.25m a serious slide from $6.09m a year earlier.
Gross profit was much improved, at $1.01m against a loss of $0.63m a year earlier.
All other items considered, Strategic reported a loss before tax of $0.88m in 2015, compared to a loss of $6.04m in 2014.
Its basic and diluted losses per share were $0.001, narrowing from $0.009 12 months prior.
"2015 was a challenging year where tough decisions had to be made in light of turbulent market conditions, but also a transformational one in which the company took a stake in an exciting new project and adopted a new investment strategy," said managing director John Peters.
He said the board is confident that Strategic Minerals is well-positioned for 2016, with a solid cash flow foundation and a proposed self-funded drilling programme, and that the outlook for the company is encouraging.
"Strategic Minerals now has lower overheads, an existing cash flow stream from Cobre and the potential upside from a drilling programme at the company's Laverton project in Western Australia.
"The company continues to maintain tight controls on its overheads and is actively examining a number of potential opportunities, and we look forward to securing additional projects during the year," Peters explained.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 0.19p |
Change Today | 0.010p |
% Change | 5.56 % |
52 Week High | 0.30 |
52 Week Low | 0.090 |
Volume | 1,169,606 |
Shares Issued | 2,015.96m |
Market Cap | £3.83m |
RiskGrade | 283 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
10:36 | 233,887 @ 0.19p |
09:13 | 5,719 @ 0.19p |
08:13 | 2,470 @ 0.20p |
08:13 | 4,280 @ 0.20p |
08:13 | 8,250 @ 0.20p |
You are here: research