Strategic Minerals PLC (LON:SML) has appointed London-based Natural Resources Global Capital Partners Limited to provide strategic and financial advice regarding advancing the Redmoor tin and tungsten project. NRG is an independent advisory firm and merchant bank focused on the global metals and energy industries.
NRG has undertaken an encouraging initial review of the project and is focusing on the inherent value and how best to demonstrate this to potential joint venture partners. Theoretical analysis has identified that a revised mining schedule, focussed on initially targeting the higher-grade material identified in the latest drilling programme, may offer the potential for a superior internal rate of return, enhancing project economics and improving the attractiveness of the project to potential investors.
In order to confirm the results of the internal revisions, Wardell Armstrong International has been engaged to optimise the mining schedule and mine engineering model, as well as mining costs.
“We are privileged to be working with NRG and are heartened by their enthusiasm for the Redmoor project and their recognition of value in, what the Board considers, a significant company asset,” said Peter Wale, executive director of Strategic Minerals.
“As international emphasis continues to shift towards securing critical minerals supply, having a source of tin and tungsten in Cornwall is expected to prove of even greater strategic importance in the future. As a result, we continue to see interest in Redmoor from investors who understand the globally significant potential of the project. We look forward to informing the market of the results of the updated analysis upon completion of Wardell Armstrong’s review. “