Shares of Strategic Minerals Plc (LON:SML – Get Free Report) shot up 14.5% on Monday. The stock traded as high as GBX 6.20 and last traded at GBX 6. 40,716,004 shares were traded during 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 Up 14.5%
The business has a 50-day moving average price of GBX 4.58 and a 200-day moving average price of GBX 4.71. The stock has a market cap of £169.13 million, a PE ratio of -857.14 and a beta of 0.92. The company has a current ratio of 0.72, a quick ratio of 1.49 and a debt-to-equity ratio of 12.12.
Insiders Place Their Bets
In related news, insider Philip Haydn-Slater acquired 2,000,000 shares of Strategic Minerals stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of GBX 4 per share, for a total transaction of £80,000. Corporate insiders own 14.80% of the company’s stock.
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.
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