Strategic Minerals PLC (AIM:SML) (Strategic Minerals PLC (AIM:SML)) John Peters joins Proactive London's Katie Pilbeam about their plans for a convertible note/joint venture to fund the restart of operation at its Leigh Creek copper project after debt negotiations ended.
Funding arrangements are still within the project's critical development path and not considered likely to delay the expected 2022 resumption of production as Peters explains the company is 'confident that 2022 will see the recommencement of production at Leigh Creek'.
'Whilst it was felt that funding on a pure debt basis would have produced the best result for our shareholders, the market was not prepared to debt fund the project at this time.'