Strategic Minerals (LON:SML) Trading Down 9.9% – Time to Sell?

Shares of Strategic Minerals Plc (LON:SML) dropped 9.9% during trading on Thursday . The stock traded as low as GBX 3.20 and last traded at GBX 3.20. Approximately 36,505,828 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 35,653,531 shares. The stock had previously closed at GBX 3.55.

Strategic Minerals Trading Up 2.6%

The company has a debt-to-equity ratio of 12.73, a current ratio of 0.29 and a quick ratio of 1.49. The business’s 50 day moving average price is GBX 1.77 and its 200-day moving average price is GBX 1.11. The firm has a market capitalization of £73.45 million, a price-to-earnings ratio of 5.05 and a beta of 0.70.

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.