Strategic Minerals Europe Corp. (NEO: SNTA, FRA: 26K0, OTCQB: SNTAF) (“Strategic Minerals” or the “Company”), a company focused on the production, development and exploitation of cassiterite, tantalite and columbite concentrate, announces July production results at its Penouta mine, located in the northwestern Spanish province of Ourense.
In July 2022, Strategic Minerals commenced the third quarter with 63.1 tonnes of primary concentrate production, which is 4.2% above the average production for the second quarter of 2022. July production comprised 54.8 tonnes of cassiterite concentrate with a tin content of 70.6% and 8.3 tonnes of tantalite/columbite concentrate containing 22.3% tantalite and 24.7% columbite.
|Total concentrate (tonnes)||42.8||66.7||72.2||63.1|
The number of plant downtime hours was higher in July than in June, which resulted in 12.57% less production than in the previous month. This was due to two interrelated causes:
First, electrical storms caused interruptions in the electrical service to the mine in July, which forced the plant to shut down for 53 hours; second, unscheduled shutdowns to repair breakdowns in the ball mill and thickener.
As a result of these shutdowns, the plant feed was 68,542.12 tonnes in July, compared to 72,531.08 tonnes in June.
“After the interruptions in July, production has resumed to normal levels and above the average for the second quarter,” said Jaime Perez Branger, CEO of Strategic Minerals. “We expect production to remain strong through the rest of 2022.”
About Strategic Minerals Europe Corp.
Strategic Minerals’ wholly-owned subsidiary, Strategic Minerals Spain, S.L. (“SMS”), produces, identifies, explores, and develops mineral resource properties critical to the green economy, predominantly in Spain. SMS holds permits and a license for the Penouta Project, which allows the Company to produce and conduct exploitation, and an investigation permit at the Alberta II Project, allowing it to conduct exploration work already underway. SMS is the largest producer of cassiterite concentrate and tantalite in the European Union and has been recognized within the EU as an exemplary company of good practices in the circular economy. The Company is well-positioned as a major producer of sustainable and conflict-free tin, tantalum, and niobium and is exploring for lithium. Strategic Minerals is a “reporting issuer” under applicable securities legislation in the provinces of British Columbia, Alberta, and Ontario.
Additional information on Strategic Minerals can be found by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Information:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release, including without limitation, management’s beliefs regarding maintaining the current levels of production and meeting guidance targets. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Strategic Minerals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risks Factors” in the Company’s Annual Information Form dated March 29, 2022, which is available for view on SEDAR at www.sedar.com. These risks include, but are not limited to, the risks associated with the mining and exploration industry, such as operational risks in development or capital expenditures, the uncertainty of projections relating to production, and any delays or changes in plans with respect to the exploitation of the site. Forward-looking statements contained herein, including but not limited to the Company’s anticipated exploitation of Section C of the Penouta Property and its use and development thereof, its use of the mineral processing capabilities, the ability to optimize and expand production, and its ability to increase the quality of the concentrate, are made as of the date of this press release and Strategic Minerals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Strategic Minerals’ operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
SOURCE Strategic Minerals Europe Corp.
For further information regarding Strategic Minerals, please contact: Elena Terrón, Corporate Secretary
Strategic Minerals Europe Corp.
Craig MacPhail (416) 525-5709