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Strategic Minerals PLC

Strategic Minerals agrees amended contract with major Cobre client

Strategic Minerals Plc's (LON:SML) John Peters and Peter Wale discuss with Proactive's Andrew Scott the amended contract that's been agreed with the major client of its Southern Minerals Group (SMG) subsidiary at the Cobre magnetite stockpile in New Mexico, USA.

They say the contract will provide the client with sufficient time to put in place necessary environmental approvals and operating procedures to resume the offtake of magnetite material, while at the same time ensuring that SMG is in a similar after-tax cash position as per the previous contract.

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