Strategic Minerals PLC is fully funded to continue drilling and testing its Redmoor tungsten project in Cornwall through 2026 and 2027, aiming to upgrade its resource to a higher-confidence category. The project benefits from strong tungsten prices, currently averaging $2,960 per tonne, well above the company's optimistic scenario price of $1,800. Redmoor's inferred resource increased by 49% to 17.4 million tonnes, potentially extending mine life to 29 years. The company has started a major drilling program with results confirming high-grade tungsten continuity and plans to move the project toward production quickly. It also sold its Leigh Creek copper mine to fund Redmoor and extended access to a magnetite stockpile in New Mexico. Despite a recent pre-tax loss, the company holds $10 million in cash after raising £8.7 million earlier this year.
Strategic Minerals' Redmoor tungsten project is the subject here. For readers following Basic Materials, here is Pluang's market snapshot as of Sep 25, 2026 14:41 WIB: Out of 38 priced US stocks, 20 rose and 18 fell. Notable movers include Lithium Americas Corp at USD 2.87 (+1.41%), Sibanye Stillwater Ltd at USD 10.42 (+1.36%), and WD 40 Company at USD 197.39 (-0.98%).
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