Strategic Minerals (LON:SML) Shares Up 14.5% – Here’s What Happened

Shares of Strategic Minerals Plc (LON:SML) were up 14.5% on Monday. The company traded as high as GBX 6.20 and last traded at GBX 6. Approximately 40,716,004 shares were traded during mid-day trading, an increase of 65% from the average session volume of 24,729,229 shares. The stock had previously closed at GBX 5.24.

Strategic Minerals Stock Performance

The company has a market cap of £169.13 million, a price-to-earnings ratio of -857.14 and a beta of 0.92. The firm’s 50 day simple moving average is GBX 4.58 and its 200-day simple moving average is GBX 4.71. The company has a debt-to-equity ratio of 12.12, a quick ratio of 1.49 and a current ratio of 0.72.

Insider Buying and Selling at Strategic Minerals

In other Strategic Minerals news, insider Philip Haydn-Slater purchased 2,000,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average cost of GBX 4 per share, with a total value of £80,000. Corporate insiders own 14.80% of the company’s stock.

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.