Insider Buying: Strategic Minerals (LON:SML) Insider Acquires £80,000 in Stock

Strategic Minerals Plc (LON:SML) insider Philip Haydn-Slater bought 2,000,000 shares of Strategic Minerals stock in a transaction on Wednesday, July 29th. The shares were acquired at an average price of GBX 4 per share, for a total transaction of £80,000.

Strategic Minerals Stock Down 7.9%

Shares of Strategic Minerals stock opened at GBX 3.50 on Friday. The business has a 50-day moving average of GBX 4.26 and a two-hundred day moving average of GBX 4.11. The company has a debt-to-equity ratio of 12.12, a current ratio of 0.72 and a quick ratio of 1.49. The company has a market capitalization of £98.66 million, a P/E ratio of -500.00 and a beta of 0.91. Strategic Minerals Plc has a 1 year low of GBX 0.27 and a 1 year high of GBX 7.30.

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.