IN BRIEF: Strategic Minerals shares up; subsidiary gets US investment

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Strategic Minerals PLC - London-based mineral producer - Says its wholly owned subsidiary Cornwall Resources Ltd secures USD9.3 million in funding from the US Department of War to accelerate development of the Redmoor tungsten-copper-tin project in Cornwall. The non-dilutive funding supports drilling, resource updates, feasibility studies, metallurgical and engineering work and pre-site development, with the programme targeting a final investment decision on mining within 32 months. Strategic Minerals says the funding carries no restrictions on future funding or offtake arrangements, while potential follow-on US government funding for mine development is not guaranteed.

Current stock price: 5.9 pence per share, up 13%

12-month change: up from 0.39 pence

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