Holding in Company

RNS Number : 1309D

Strategic Minerals PLC

22 October 2015

 

22 October 2015

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Holding in Company

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, has today been informed that on 20 October 2015 Glencore AG sold 45,000,000 ordinary shares in the Company at a price of 0.17p per share through a transaction arranged by Optiva Securities, who placed out the shares, including to a number of existing Strategic Minerals shareholders.  As a result, Glencore AG no longer holds any ordinary shares in the Company.

Further, the Company has today been informed that on 21 October 2015 Mr Peter Wale increased his holding in the Company's share capital by 12,574,468 shares to 40,415,469 shares, which represents 4.54% of the Company's issued capital.

Commenting on this transaction, Mr John Peters, Strategic Minerals' Managing Director, said: "Glencore has been a strong supporter of the Company and we continue to have a relationship with them that we expect will be re-activated should it again become economically viable to export from the Cobre mine.  However, Glencore's holding in the Company was held in the iron ore division of Glencore and we understand that Strategic Minerals' recent diversification into coal has made this a non-core asset in this division's portfolio."

For further information, please contact:

Strategic Minerals plc John Peters Managing Director	[phone]
Allenby Capital Limited Nominated Adviser and Joint Broker Jeremy Porter James Reeve	[phone]
Cornhill Capital Limited Joint Broker James Sheehan Colin Rowbury	[phone]
Yellow Jersey PR Financial PR Dominic Barretto Alistair de Kare-Silver	[phone]

Notes to Editors

Strategic Minerals plc is an AIM quoted, diversified mineral development and production company, with projects in the United States of America and New Zealand. The Company is focused on acquiring and developing cash generative, high quality projects which meet local market demand for commodities. 

In September 2011, the Strategic Minerals purchased, its first cash generating asset, the Cobre magnetite tailings dam project in New Mexico, USA which it brought into production in 2012 and which continues to provide a revenue stream for the Company. The portfolio was expanded in March 2015 with the acquisition of the Tatu Coal Mine located in North Island, New Zealand. Strategic Minerals is now developing this project with the expectation it will make its first thermal coal sales by H1 2016.

 

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