Strategic Minerals (LON:SML) Shares Pass Above 50-Day Moving Average – Here’s Why

Strategic Minerals Plc (LON:SML)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 1.39 and traded as high as GBX 1.70. Strategic Minerals shares last traded at GBX 1.68, with a volume of 50,101,023 shares trading hands.

Strategic Minerals Trading Up 11.8%

The firm’s 50 day moving average is GBX 1.39 and its 200 day moving average is GBX 0.87. The company has a debt-to-equity ratio of 12.73, a current ratio of 0.29 and a quick ratio of 1.49. The company has a market capitalization of £39.73 million, a PE ratio of 2.73 and a beta of 0.70.

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.