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Strategic Minerals expecting a profitable year

By BFN News | 08:17 AM | Thursday 10 August, 2017


Strategic Minerals (SML), a mineral development and production company, saw record domestic sales at its Cobre magnetite stockpile in New Mexico in July after transport issues the previous month caused a dip in sales. The profit margin at Cobre was maintained at around 50% for the half year to June quarter. The company had cash of $1.359m at 30 June, up from $0.695m at 31 March, reflecting the start of a new customer contract at Cobre. Alan Broome, non-executive-chairman of Strategic Minerals, said: "This reinforces our view that 2017 is likely to be materially profitable and we are excited about SML's potential for increasing earnings and profitability." The board is targeting a market capitalisation of £100m over the next five years. At 8:17am: (LON:SML) Strategic Minerals PLC share price was +0.03p at 2.2p Story provided by StockMarketWire.com

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