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Strategic Minerals eyeing profitability and transactions in the second half

John Peters, managing director of Strategic Minerals Plc (LON:SML), caught up with Proactive's Andrew Scott on the back of their first half 2017 results.

Operating profit at Cobre in New Mexico rose to US$690,000 in the six months compared to US$62,000 a year ago, leading to a profit before tax for the group of US$158,000 compared to a loss last year.

Cash flow from Cobre is expected to accelerate in the second half after a substantial contract was won in June.

The period also saw an investment of £843,649 (US$1.068mln) into Cornwall Resources Limited (CRL), the owner of the Redmoor tin/tungsten project, increasing Strategic's interest to 50%.

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