SML.GB Strategic Minerals Plc

TIDMSML

RNS Number : 4362Y

Strategic Minerals PLC

06 September 2022

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Holdings in Company

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a profitable producing mineral company announces that it has been notified by Philip Richards of RAB Capital that he holds a beneficial interest in 81,000,000 ordinary shares of 0.1 pence in the Company representing 4.02% of the Company's issued share capital.

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00B4W8PD74

Issuer Name

STRATEGIC MINERALS PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

RAB Capital Holdings Limited

City of registered office (if applicable)

Brentwood

Country of registered office (if applicable)

United Kingdom

 
  Name                        City of registered office    Country of registered office 
   Eagles Trust Limited        St Helier                    Jersey 
                            ===========================  ============================== 
   William Philip Richards     St Brelade                   Jersey 
                            ===========================  ============================== 
 

4. Details of the shareholder

 
  Name                            City of registered office    Country of registered office 
   Pershing Securities Limited     London                       United Kingdom 
                                ===========================  ============================== 
 

5. Date on which the threshold was crossed or reached

06-Sep-2022

6. Date on which Issuer notified

06-Sep-2022

7. Total positions of person(s) subject to the notification obligation

 
                          % of voting rights      % of voting rights      Total of both in %      Total number of 
                          attached to shares      through financial       (8.A + 8.B)             voting rights held 
                          (total of 8.A)          instruments (total                              in issuer 
                                                  of 8.B 1 + 8.B 2) 
   Resulting situation 
    on the date on 
    which threshold 
    was crossed or 
    reached                4.020000                0.000000                4.020000                81000000 
                        ======================  ======================  ======================  ====================== 
   Position of 
    previous 
    notification (if 
    applicable) 
                        ======================  ======================  ======================  ====================== 
 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

 
Class/Type of shares    Number of direct        Number of indirect      % of direct voting      % of indirect voting 
ISIN code(if possible)  voting rights (DTR5.1)  voting rights           rights (DTR5.1)         rights (DTR5.2.1) 
                                                (DTR5.2.1) 
GB00B4W8PD74               81000000                0                       4.020000                0.000000 
                        ======================  ======================  ======================  ====================== 
Sub Total 8.A              81000000                                        4.020000% 
                        ==============================================  ============================================== 
 

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

 
Type of financial           Expiration date  Exercise/conversion period  Number of voting rights    % of voting rights 
instrument                                                               that may be acquired if 
                                                                         the instrument is 
                                                                         exercised/converted 
 
Sub Total 8.B1 
                            ===========================================  =========================  ================== 
 

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

 
Type of financial   Expiration date  Exercise/conversion  Physical or cash     Number of voting     % of voting rights 
instrument                           period               settlement           rights 
 
Sub Total 8.B2 
                    =========================================================  ===================  ================== 
 

9. Information in relation to the person subject to the notification obligation

2. Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entities (please add additional rows as necessary)

 
Ultimate controlling    Name of controlled      % of voting rights if   % of voting rights      Total of both if it 
person                  undertaking             it equals or is higher  through financial       equals or is higher 
                                                than the notifiable     instruments if it       than the notifiable 
                                                threshold               equals or is higher     threshold 
                                                                        than the notifiable 
                                                                        threshold 
   William Philip 
   Richards 
                        ======================  ======================  ======================  ====================== 
   William Philip          Eagles Trust 
   Richards                Limited 
                        ======================  ======================  ======================  ====================== 
 

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

06/09/2022

13. Place Of Completion

United Kingdom

 
For further information, please contact: 
 
                                            +61 (0) 414 727 
Strategic Minerals plc                       965 
John Peters 
Managing Director 
Website:                                   www.strategicminerals.net 
Email:                                     info@strategicminerals.net 
 
Follow Strategic Minerals on: 
Vox Markets:                               https://www.voxmarkets.co.uk/company/SML/ 
Twitter:                                   @SML_Minerals 
LinkedIn:                                  https://www.linkedin.com/company/strategic-minerals-plc 
 
 
                                              +44 (0) 20 3470 
  SP Angel Corporate Finance LLP              0470 
Nominated Adviser and Broker 
Matthew Johnson 
Ewan Leggat 
Charlie Bouverat 
 
 

Notes to Editors

Strategic Minerals plc is an AIM-quoted, profitable operating minerals company actively developing projects tailored to materials expected to benefit from strong demand in the future. It has an operation in the United States of America along with development projects in the UK and Australia. The Company is focused on utilising its operating cash flows, along with capital raisings, to develop high quality projects aimed at supplying the metals and minerals likely to be highly demanded in the future.

In September 2011, Strategic Minerals acquired the distribution rights to the Cobre magnetite tailings dam project in New Mexico, USA, a cash-generating asset, which it brought into production in 2012 and which continues to provide a revenue stream for the Company. This operating revenue stream is utilised to cover company overheads and invest in development projects aimed at supplying the metals and minerals likely to be highly demanded in the future.

In May 2016, the Company entered into an agreement with New Age Exploration Limited and, in February 2017, acquired 50% of the Redmoor Tin/Tungsten project in Cornwall, UK. The bulk of the funds from the Company's investment were utilised to complete a drilling programme that year. The drilling programme resulted in a significant upgrade of the resource. This was followed in 2018 with a 12-hole 2018 drilling programme has now been completed and the resource update that resulted was announced in February 2019. In March 2019, the Company entered into arrangements to acquire the balance of the Redmoor Tin/Tungsten project which was settled on 24 July 2019 by way of a vendor loan which was fully repaid on 26 June 2020.

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia and brought the project temporarily into production in April 2019. In July 2021, the project was granted a conditional approval by the South Australian Government for a Program for Environmental Protection and Rehabilitation (PEPR) in relation to mining of its Paltridge North deposit and processing at the Mountain of Light installation. In late June 2022, an updated PEPR, addressing the conditions associated with the July 2021 approval, was approved.

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(END) Dow Jones Newswires

September 06, 2022 05:31 ET (09:31 GMT)