Strategic Minerals (LSE:SML) has received planning approval from Cornwall Council to substantially expand drilling activities at its Redmoor tungsten, tin and copper project. The approval allows the company to deploy additional drill rigs and continue exploration for up to three years, with operations currently scheduled to run through the second quarter of 2027. The planned 22,500-metre programme will comprise at least 44 drill holes and is described by the company as the largest continuous diamond drilling campaign undertaken in Cornwall and across Great Britain this century.
The expanded exploration programme is intended to upgrade existing mineral resources, evaluate additional exploration targets and generate data for geotechnical, metallurgical and hydrogeological studies. The work is expected to accelerate both pre-feasibility and feasibility studies while reducing the need for future drilling campaigns. Ongoing drilling has already intersected the full extent of the Redmoor Sheeted Vein System and mineralised granite zones, with additional daughter holes and extensive sample analysis planned to support metallurgical testing and future resource modelling. The company believes the programme could shorten the project’s development timeline and strengthen Redmoor’s position within Europe’s critical minerals supply chain.
Strategic Minerals’ outlook reflects a combination of financial strengths and operational challenges. A strong balance sheet with relatively low debt provides stability, although profitability and free cash flow have remained inconsistent. Technical indicators suggest some near-term caution, with the shares trading below key short-term moving averages and a negative MACD reading. Valuation appears balanced, supported by a moderate price-to-earnings ratio, although the absence of a dividend limits additional investor appeal.
More about Strategic Minerals plc
Strategic Minerals plc is an international mining and exploration company focused on advancing the Redmoor tungsten, tin and copper project in Cornwall through its wholly owned subsidiary, Cornwall Resources Limited. The company is working to increase the project’s resource base and progress it through feasibility studies, with the aim of establishing Redmoor as a significant future source of tungsten and other critical minerals for the European market.
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