Strategic Minerals purchase of Leigh Creek settles

Diversified mineral development and production company Strategic Minerals announced on Tuesday that, further to its announcement on 27 February, the acquisition of the Leigh Creek Copper Mine was now settled.

The AIM-traded firm said payment of AUD 1.5m (£0.85m) had been made to the vendor, and the subsequent issue of SML shares valued at AUD 1.45m - based on the volume-weighted average share price throughout the month of March - were due to be issued in early April.

“These shares are subject to dealing restrictions, with one third being locked-up for three months after issue, and another third being locked-up for six months after issue,” Strategic’s board said in its short statement.