Strategic Minerals PLC (AIM:SML, OTC:SMCDF) shares jumped by 50% as it said revenues from its Cobre tailings operation in New Mexico were running ahead of expectations and would top US$4 million for the year (2024).
That sales number was more or less equal to Strategic Mineral’s market cap yesterday, though, after today’s update, it has risen to £4.5 million with the shares up 53% at 0.23p.
Describing the past quarter's sales as a spectacular performance at Cobre, it highlights how the market undervalues the company, the statement added.