LONDON, June 30, 2026, 19:06 BST
- Strategic Minerals finished at 4.40p in London, gaining 10.0% after the close. The FTSE AIM All-Share index added 0.27%.
- About 10.49 million shares traded, making up 0.37% of shares in issue and around 64% of the average volume seen on Google Finance.
- Shares are still down about 39% from the April 20-year high of 7.25p, even after jumping to more than 15 times their lowest price of the year.
- At last week’s AGM, 15.2% voted against the pre-emption rights waiver. That was the largest level of dissent on any of the five resolutions.
Strategic Minerals Plc (SML:LON) gained 10.0% Tuesday. The AIM-listed miner’s shares rose 0.40p, lifting market value by about £11.3 million. Reported volume was 10.49 million shares, under 0.4% of shares in issue, according to market data and Reuters calculations.
| Tuesday market maths | Data |
|---|---|
| Share price at close | 4.40p |
| Change today | +0.40p / +10.0% |
| Volume reported | 10.49 mln shares |
| Total shares outstanding | 2.82 bln |
| Trading volume as % of outstanding | about 0.37% |
| Value change in market cap from move | £11.3 mln |
| LSE.co.uk market cap figure | £124.03 mln |
This is notable since the swing came on light trading. Google Finance put average volume at 16.38 million shares, so Tuesday’s turnover was just 64% of that. The share move outpaced the FTSE AIM All-Share’s 0.27% rise by around 9.7 points.
The broader UK market gave no reason for the shift. FTSE 100 added 0.1% Tuesday, FTSE 250 stayed flat, and industrial metal miners climbed 1%, Reuters reported.
Strategic Minerals’ recent regulatory updates have focused on its Redmoor project in Cornwall and on company governance. On June 25, the company named Luke Rogers as an independent non-executive director. It pointed to his more than 15 years in mining and operations, as well as his ties to Cornwall. Strategic Minerals said it has set up measures to handle any conflicts related to Rogers’ role in Cornwall Council.
All resolutions were cleared at the AGM, though support was uneven. The pre-emption rights disapplication saw 15.2% vote against it. By contrast, 3.0% voted against the general authority to allot shares, and opposition to the other ordinary resolutions stayed at 1.2% or below.
| AGM resolution | Votes for | Votes against |
|---|---|---|
| 2025 accounts approved | 98.8% | 1.2% |
| P. Haydyn-Slater reappointed | 98.8% | 1.2% |
| Auditor reappointed | 99.9% | 0.1% |
| Share allotment authority | 97.0% | 3.0% |
| Pre-emption rights waived | 84.8% | 15.2% |
The vote split draws attention after Strategic Minerals went through a funding shake-up. In May, the company said it brought in £8.7 million between January and March 2026, mostly for Redmoor infill drilling and a pre-feasibility study. It added it had enough cash for planned work for at least a year after the report was signed.
Redmoor drives the stock’s valuation. The 2026 resource estimate put Redmoor at 17.4 million tonnes at 0.65% WO3 equivalent. That includes 85.8 kt WO3, 29 kt tin, 76.3 kt copper. By Tuesday’s quoted market price, that works out to about £7.13 per tonne of Redmoor inferred. This is an equity screen, not a project value.
June 23 drilling results set up the next hurdle for investors. Strategic Minerals reported more samples from drillhole CRD041 showed tin-rich zones outside its current model, with 1.00 metre grading 0.67% tin, 0.20% WO3 and 0.09% copper from 291.10 metres. The company submitted 291 samples from CRD043 for lab analysis, and CRD044 had hit 455.30 metres toward its 650 metre target.
Dennis Rowland, managing director at Cornwall Resources, said the bigger programme might reach “a scale previously unseen in Cornwall.” Mark Burnett, executive director at Strategic Minerals, said, “Redmoor continues to advance at pace.” ADVFN
Executive Chairman Charles Manners said back in May that Redmoor had been “largely overlooked for too long.” The stock isn’t being ignored now, but Tuesday’s tape reminded traders that with a small AIM order book, the equity can move quicker than any drilling update. London South East
