Strategic Minerals Corp NL

Published : August 24th, 2015

Tatu Coal Project Update

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Tatu Coal Project Update

24 th August 2015

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Tatu Coal Project Update - Commencement of Bulk Sample Work

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral development and production company, announces that it has, through its 51 per cent owned subsidiary King Country Mining Limited, entered into contracts to produce a bulk sample from the Tatu Coal Project ("Tatu ") on the North Island of New Zealand.

The production of the bulk sample involves not only the extraction of the coal but also the establishment of some of the safety requirements associated with Tatu being an operating mine, and which will form part of the requirements for the future operation of the Tatu mine.

A number of contractors are involved with the delivery of the bulk sample and work safety documentation and procedures, which is expected to cost approximately NZD $280,000 in total to produce. Once the bulk sample has been delivered, it will be tested by the Company's consultants and by potential clients to ensure its suitability for their processes.

The Company is targeting completion of the bulk sample work and feasibility studies in sufficient time that construction of the mine can commence in Q1 2016, subject to positive market feedback and funding being secured. The Board is seeking to secure the funding for construction of the mine through its industry contacts and consultants, which may include joint ventures or debt and has now signed a non-binding Memorandum of Understanding with China Coal Technology Engineering Group (CCTEG) to provide pricing and funding options associated with both the mine equipment and operations.

Managing Director John Peters said "The commencement of the production of the bulk sample is an important step in the delivery of an economically commercial coal mine at Tatu and we look forward to delivering samples to potential customers and finalising feasibility studies as soon as possible.

"I believe we are well positioned to progress the Tatu project and are in discussions with potential contractors, looking to undertake the construction and operation of the mine, to potentially finance the development of the project. The signing of the non-binding MOU with CCTEG reflects this progress "

For further information, please contact:

Strategic Minerals plc

John Peters

Managing Director

+61 414 727 965

Allenby Capital Limited

Nominated Adviser and Joint Broker

Jeremy Porter

James Reeve

+44 (0)20 3328 5656

Cornhill Capital Limited

Joint Broker

James Sheehan

Colin Rowbury

+44 (0)20 3700 2516

Yellow Jersey PR

Financial PR

Dominic Barretto

Kelsey Traynor

+44 (0)779 900 3220

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.

This information is provided by RNS
The company news service from the London Stock Exchange
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Strategic Minerals Corp NL

ISIN : AU000000SMC6
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Strategic Min is a producing silver and gold company based in Australia.

Strategic Min holds various exploration projects in Canada.

Its main exploration properties are MAGNUM and PIKE PROPERTY in Canada.

Strategic Min is listed in Australia. Its market capitalisation is AU$ 26.5 millions as of today (US$ 16.2 millions, € 14.6 millions).

Its stock quote reached its lowest recent point on May 05, 2016 at AU$ 0.00, and its highest recent level on October 18, 2019 at AU$ 0.53.

Strategic Min has 69 630 000 shares outstanding.

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