Source - SMW
Strategic Minerals has recorded a steady H1 pretax loss of $322,000, from a year-earlier loss of $320,000.

Revenue had improved to $556,000, from $488,000.

MD John Peters said:

"The first half of the year has seen the Company focus its attention on increasing underlying profitability through increased sales at Cobre and refocusing its investment activities in line with a revamped strategy focusing on metals and advanced materials likely to benefit by a rebound in the resources market.

"The entering of two new projects and the progression of the rail claim have put the Company in a good position to exercise its interest in the Redmoor project at a time when the market is starting to become aware of the likely value of the resurgence of the tin mining industry in Cornwall.

"In line with accounting standards, the rail settlement of US$675,000 is to be treated as income and this combined with the increase in sales at Cobre from the acquisition of a new major client, gives the Board reason to have a positive outlook for the full year results."