Strategic Minerals (LON:SML) Trading 11.3% Higher – Here’s What Happened

Shares of Strategic Minerals Plc (LON:SML) traded up 11.3% on Wednesday . The company traded as high as GBX 6 and last traded at GBX 5.90. 22,890,555 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 33,029,059 shares. The stock had previously closed at GBX 5.30.

Strategic Minerals Stock Up 11.3%

The company has a debt-to-equity ratio of 13.25, a current ratio of 0.98 and a quick ratio of 1.49. The stock has a fifty day moving average price of GBX 3.90 and a two-hundred day moving average price of GBX 2.22. The company has a market cap of £166.31 million, a P/E ratio of 9.61 and a beta of 0.76.

Strategic Minerals Company Profile

Strategic Minerals (AIM: SML; USOTC: SMCDY) is a producing minerals company, actively developing strategic projects in the UK, United States and Australia.

In 2012, the company commenced production at its first magnetite operation, the Cobre stockpile in New Mexico, USA. Currently, the company’s main countries of operation are the UK and USA.

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia. The company continues to seek opportunities to monetise the asset.

In 2019, the company completed the 100% acquisition of Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project, with a 2019 JORC-compliant, Inferred Mineral Resource Estimate of 11.7Mt at 1.17% Tin equivalent, made up of Tungsten, Tin and Copper.
Strategic Minerals’ primary objective is to utilise cash flow from existing operations in the USA to accelerate development of the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK with world-class potential.