Strategic Minerals posts solid sales growth in the March quarter
Aim-listed Strategic Minerals recorded 38% year-on-year growth in sales volumes from the Cobre magnetite mine, in New Mexico, during the quarter ended March 31.
The 17 162 t of magnetite sold in the quarter compare with the 12 393 t sold in the same quarter last year.
In turn, revenue grew by 41% year-on-year to $1.18-million, from $841 000 in the same quarter last year.
The group had $530 000 of cash on hand at the end of March.
Strategic Minerals continues to rationalise the internal cost profile at Cobre, as well as advance exploration on site.
“The company continues 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 project,” Strategic Minerals executive director Mark Burnett says.
In February, the company’s wholly-owned subsidiary CRL achieved initial success at the Redmoor tungsten, tin and copper project, in the UK, through a process of relogging and sampling of existing diamond drill core.
The results have identified new tungsten, copper and tin mineralisation within and external to the sheeted-vein-system on site, including tungsten trioxide grades of 0.33% over 1 m from 393 m and copper grades of 0.34% over 4 m from 384 m. Tin concentrations up to 0.36% were recorded over 1.3 m from 270 m.
The work, so far, validates the potential upside to Redmoor’s existing mineral resource estimate, which was published in February 2019.
Strategic Minerals’ subsidiary has recruited more in-house geological specialists to accelerate a planned exploration work programme at Redmoor.
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