Strategic Minerals (LON:SML) Trading 24% Higher – Here’s Why

Strategic Minerals Plc (LON:SML)’s stock price shot up 24% during mid-day trading on Tuesday . The stock traded as high as GBX 3.10 and last traded at GBX 3.10. 60,784,793 shares were traded during trading, an increase of 127% from the average session volume of 26,790,727 shares. The stock had previously closed at GBX 2.50.

Strategic Minerals Price Performance

The company has a quick ratio of 1.49, a current ratio of 0.29 and a debt-to-equity ratio of 12.73. The stock has a market cap of £71.08 million, a P/E ratio of 4.89 and a beta of 0.70. The firm has a 50 day moving average price of GBX 1.46 and a 200 day moving average price of GBX 0.96.

About Strategic Minerals

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.