viewStrategic Minerals PLC

Strategic Minerals says early modelling of its Cornish tin and tungsten project points to its world-class potential

A preliminary assessment of the underground potential of the Redmoor asset was carried out by the consultants Wardle Armstrong

The Redmoor deposit is around 16 miles inland from Plymouth

Strategic Minerals PLC (LON:SML) managing director John Peters says a recent study of the company’s tin-tungsten project in Cornwall has confirmed its world class potential.

A preliminary assessment of the underground possibilities for the Redmoor asset by the consultants Wardle Armstrong concluded there is scope to mine 600,000 tonnes of ore a year for the next decade. That is based on a 7.1mln-tonne resource with a 1.09% tin equivalent grade.

WATCH: Redmoor study confirms its 'attractive returns' - Strategic Minerals' Alan Broome

Internal financial modelling of those numbers suggested the mine would have an internal rate of return of 19% and a net present value of US$94mln, funded by capital investment of US$89mln.

MD Peters said: “Using the results of this study, Strategic Minerals believes it has confirmed its view that Redmoor has the potential to be a world class tin and tungsten mine which will deliver attractive returns on investment.”

The current resource base at Redmoor is 11.7mln tonnes, though it currently sits in the inferred category. Strategic believes there is “significant exploration upside”.

Metallurgical testing, meanwhile, “confirms amenability of ore to gravity pre-concentration with good potential recoveries and grades”.

Further work will now be carried out to advance and further optimise the project as it heads towards a more formal pre-feasibility study, investors were told.

Strategic is the 50% owner of the Redmoor deposit, which is around 16 miles inland from Plymouth, and has a deal in place to acquire the remainder.

Quick facts: Strategic Minerals PLC

Price: 0.7 GBX

Market: AIM
Market Cap: £10.27 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Strategic Minerals PLC named herein, including the promotion by the Company of Strategic Minerals PLC in any Content on the Site, the Company...



New Age Exploration advancing Redmoor and Otago, exploring Lochinvar options

New Age Exploration Ltd (ASX:NAE) chairman Alan Broome provides Proactive Investors with a thorough update on the company's international portfolio of assets. The UK Redmoor project, being developed in JV with Strategic Mineral PLC (LON:SML), is advancing at an opportune time with respect...

on 15/2/19

2 min read