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NEUTRAL

Strategic Minerals Announces Proposed Placing to Raise £1 Million

Why we think this is neutral

This RNS announcement is a general corporate update regarding a proposed placing to raise £1 million. It does not contain any specific financial results, trading updates, or other mandatory news categories, so a neutral sentiment score is appropriate.

Key Points

  • Proposed placing to raise up to £1 million
  • Net proceeds to fund Redmoor project and working capital
  • Placing subject to shareholder approval and other conditions

Summary

The mining company is seeking to raise £1 million through a share placing to fund activities at its Redmoor project.

Strategic Minerals Plc announced its intention to raise up to £1 million through a placing of new ordinary shares. The net proceeds will be used to progress activities at the Company's Redmoor Tungsten-Tin-Copper project in Cornwall and for working capital purposes. The placing is subject to shareholder approval and other customary conditions.

Key Dates

6 May 2025
Admission of Placing Shares to trading on AIM
2 May 2025
General Meeting to approve Placing
GENERAL UPDATE