Strategic Minerals Sees Q3 Revenue Surge, Bolstered by Cobre Operations

Strategic Minerals plc (LON: SML) reported a robust 31.9% increase in revenue for Q3 2025, driven by a strong rebound in ore sales at its Cobre magnetite operation in New Mexico, USA.

The company's strategic focus on exploration and development at the Redmoor Tungsten Tin Copper Project in Cornwall appears to be gaining traction, further underpinning market interest.

Q3 2025 ore sales at Cobre surged 42.4% compared to the previous quarter, reaching 16,098 tons. This translated to revenue of US$1.08 million, up from US$0.82 million in Q2 2025.

While the recovery is notable, sales volumes remain below the levels seen in Q3 2024 (19,375 tons generating US$1.27 million), indicating room for further growth.

The company's cash balance stood at US$0.83 million as of September 30, 2025, a decrease from US$1.59 million at the end of June 2025. This reduction reflects ongoing investment in the Redmoor project and underscores the importance of continued revenue generation from Cobre.

The Redmoor Tungsten Tin Copper Project is emerging as a key asset for Strategic Minerals. Drilling and analytical results continue to reinforce the company's belief that Redmoor is a high-grade undeveloped tungsten resource. All six completed drillholes have intercepted the sheeted vein system.

The company has accelerated drilling at Redmoor with the mobilization of a second rig, completing three additional holes to date. The success of drill hole CRD037 in intersecting SVS-style veins similar to previous Redmoor intersections supports the exploration model and indicates strong potential for resource growth.

New metallurgical and processing test work is underway to define flow sheet design and to refine recovery assumptions for inclusion in the upcoming Mineral Resource Estimate (MRE) update.

Driver Breakdown:

• Cobre Recovery: Resumption of operations after wildfire-related downtime significantly boosted sales.
• Redmoor Progress: Positive drilling results and exploration model validation are enhancing the project's potential.
• Investor Engagement: Active engagement with institutional and retail investors is raising awareness of the Redmoor opportunity.

Mark Burnett, Executive Director of Strategic Minerals, commented: “Sales at Cobre have bounced back over the past quarter, making up for downtime as a result of regional wildfires in the first half of the year. This cash generative subsidiary is sustaining the Group's activities, in particular at Cornwall Resources where drilling and analysis is reinforcing the exceptional quality of the Redmoor Tungsten Tin Copper Project.”