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September quarter ‘a game changer’ for Strategic Minerals, says chief John Peters

Friday, November 18, 2016 6:33
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A new customer helped boost sales during the September quarter from Strategic Minerals plc’s (LON:SML) Cobre iron tailings operation in New Mexico.

Shipments to the new client began in mid-August and have carried through into the December quarter.

Chief executive John Peters tells Proactive: ”The real story here is that we’ve always said that we’d keep ourselves lean and operate within the cashflow coming out of Cobre  but now we’re  probably moving to a point where next year in particular, if these sales continue,  we’ll actually end up in a full year profit”.

”We’re unique in that we’re a mining exploration company that pays its own way”.

Summing up the September quarter Peters said: ”I think it’s really changed the company. We’re now in a position where we expect to be in positive cashflow each quarter .. coupled with our other projects it puts us in a position where we’ve got cashflow, overheads being covered and profits possible too being generated”

Story by ProactiveInvestors


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