logo-loader

September quarter 'a game changer' for Strategic Minerals, says chief John Peters

Last updated: 08:16 18 Nov 2016 EST, First published: 03:16 18 Nov 2016 EST

A new customer helped boost sales during the September quarter from Strategic Minerals plc's (LON:SML) Cobre iron tailings operation in New Mexico.

Shipments to the new client began in mid-August and have carried through into the December quarter.

Chief executive John Peters tells Proactive: ''The real story here is that we've always said that we'd keep ourselves lean and operate within the cashflow coming out of Cobre  but now we're  probably moving to a point where next year in particular, if these sales continue,  we'll actually end up in a full year profit''.

''We're unique in that we're a mining exploration company that pays its own way''.

Summing up the September quarter Peters said: ''I think it's really changed the company. We're now in a position where we expect to be in positive cashflow each quarter .. coupled with our other projects it puts us in a position where we've got cashflow, overheads being covered and profits possible too being generated''

Strategic Minerals and Cornwall Resources secure groundbreaking deal with...

Strategic Minerals PLC (AIM:SML, OTC:SMCDF) executive director Peter Wale and Dennis Rowland, project manager at subsidiary Cornwall Resources, join Proactive's Stephen Gunnion with news of a groundbreaking mineral rights deal with the Duchy of Cornwall, marking a first of its kind in modern...

1 week, 1 day ago