Strategic Minerals extends Cobre stockpile access through March 2031

Strategic Minerals announced on 7 September 2026 that its subsidiary Southern Minerals Group secured another two years of access to the Cobre magnetite stockpile in New Mexico.

What changed

The agreement's expiry moves from 31 March 2029 to 31 March 2031. The company says all other terms remain unchanged.

The extension gives the subsidiary a longer operating window and supports planning for equipment expenditure. Management also links Cobre's cash generation to advancing the wider group's Redmoor project.

Investment significance

Longer access reduces near-term uncertainty over the period in which the stockpile can be worked. Its economic value still depends on customer demand, recoverable material, selling prices and operating costs.

The extension is not a new mineral-resource estimate, a production upgrade or confirmation of a particular amount of future cash flow.

The next useful evidence is sales performance, margins and capital expenditure under the extended agreement, followed by the cash actually available for the group's development projects.

Source: Company announcement, 7 September 2026.