Strategic Minerals reports increased sales volume at Cobre
By Josh White
Date: Thursday 03 Apr 2025
(Sharecast News) - Strategic Minerals reported a 38% year-on-year increase in sales volumes from its Cobre magnetite operation in New Mexico for the March quarter on Thursday, with 17,162 tonnes sold and revenue rising 41% to $1.18m.
The AIM-traded company attributed the growth to the sustained return of Cobre's major client and operational flexibility demonstrated by its in-country team.
Cash balances stood at $0.53m at the end of March, down from $0.62m at the end of 2024, reflecting increased activity at the Redmoor tungsten-tin-copper project in Cornwall.
At Redmoor, Strategic said its wholly owned subsidiary Cornwall Resources Limited identified additional zones of tungsten, copper and tin mineralisation through relogging and resampling of historical drill cores.
Notable results included tungsten trioxide grades of up to 0.33%, copper grades reaching 0.42%, and tin concentrations of 0.36%.
Those findings supported potential upside to the existing JORC-compliant resource, the board explained.
Strategic said it was expanding its geological team to accelerate exploration efforts at Redmoor, where work was continuing to refine the project's resource base and development potential.
"The company continued to post strong operational and financial results in the first quarter of 2025 which will support the renewed focus on critical minerals exploration and development at the Redmoor Tungsten-Tin-Copper Project in Cornwall," said executive director Mark Burnett.
"I would like to thank the whole team for their dedication throughout this transition period and look forward to delivering value for shareholders in 2025."
At 0958 BST, shares in Strategic Minerals were down 2.22% at 0.37p.
Reporting by Josh White for Sharecast.com.
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