Strategic Minerals picks up speed in Redmoor acquisitions
announced in March that it had “entered into arrangements” to purchase the entirety of New Age Exploration’s (NAE) 50% shareholding in Cornwall Resources Limited.
Cornwall Resources Limited is the joint venture developing the Redmoor tin/tungsten project in Cornwall.
An essential part of the deal was that the acquisition had to be ratified by NAE’s shareholders at a general meeting.
Managing Director of Strategic Minerals, John Peters relayed the company’s eagerness to begin its tenure at Redmoor:
“Recent meetings with wholesale mining investment funds have highlighted the level of interest that the Redmoor Tin/Tungsten project has engendered.
The contract will settle at the end of May 2019 and the Company will gain full control on project timing and investment. The Company looks forward to developing Redmoor to Pre-Feasibility status, at which time it believes it can better demonstrate the project's underlying value to the market."
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