--- title: "Strategic Minerals Ramps Up Redmoor Drilling as Tungsten Prices Hit Record Highs" type: "News" locale: "en" url: "https://longbridge.com/en/news/281137265.md" description: "Strategic Minerals has initiated a resource infill drilling program at its Redmoor tungsten-tin-copper project, supported by £8.7m in equity raises. The six-month program aims to upgrade inferred resources and establish a maiden ore reserve. With tungsten prices at record highs, the project is gaining strategic importance, potentially attracting further government support. Analysts rate SML stock as a Buy with a £3.00 price target, although concerns about high valuation and near-term risks persist. The company focuses on developing critical metal resources in the European market." datetime: "2026-03-31T06:47:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281137265.md) - [en](https://longbridge.com/en/news/281137265.md) - [zh-HK](https://longbridge.com/zh-HK/news/281137265.md) generator: "portal-rs" --- # Strategic Minerals Ramps Up Redmoor Drilling as Tungsten Prices Hit Record Highs ### End of Quarter Sale - 50% Off TipRanks - Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions - Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks An update from Strategic Minerals ( (GB:SML) ) is now available. Strategic Minerals has launched a resource infill drilling programme at its Redmoor tungsten‑tin‑copper project, beginning with drillhole CRD042 from Pad 4 as part of a prefeasibility study aimed at upgrading inferred resources and supporting a maiden ore reserve. Backed by recent equity raises totaling £8.7m, the six‑month programme marks a major scale‑up of activity, with roughly as many metres planned as have previously been drilled by Cornwall Resources to date. The company reported strong early visual indications of mineralisation in initial core and is advancing additional geological and geochemical work, including new sampling and re‑analysis of historical core and pulp samples, to refine Redmoor’s resource model. Recent high‑level political engagement, completion of a UK Shared Prosperity Fund work programme, and tungsten prices at historic highs well above the project’s prior upside assumptions underline Redmoor’s strategic status as a leading domestic critical minerals asset and could strengthen its case for further government and grant support. The most recent analyst rating on (GB:SML) stock is a Buy with a £3.00 price target. To see the full list of analyst forecasts on Strategic Minerals stock, see the GB:SML Stock Forecast page. **Spark’s Take on SML Stock** According to Spark, TipRanks’ AI Analyst, SML is a Neutral. The score is primarily supported by improved 2024 financial performance and strong technical uptrend signals. It is materially constrained by expensive valuation (high P/E and no dividend yield data) and technical overbought indicators that elevate near-term risk. To see Spark’s full report on SML stock, click here. **More about Strategic Minerals** Strategic Minerals plc is an international mineral exploration and production company focused on developing critical metal resources. Through its wholly owned subsidiary Cornwall Resources Limited, the company is advancing the Redmoor tungsten‑tin‑copper project in southeast Cornwall, positioning itself within the European market for high‑grade critical minerals used in industrial and technological applications. **Average Trading Volume:** 29,361,301 **Technical Sentiment Signal:** Buy **Current Market Cap:** £115.6M For an in-depth examination of SML stock, go to TipRanks’ Overview page. ### Related Stocks - [SMCNE.AU](https://longbridge.com/en/quote/SMCNE.AU.md) ## Related News & Research - [Vault Announces Acquisition of U.S. Historical Mirage-Mariposa Tungsten Mine within the Gray Eagle Project](https://longbridge.com/en/news/285895316.md) - [Apple Might Be Planning to 'Surprise and Shine' at iPhone 18 Launch Event, but Crypto Bettors Are Already Betting on Foldables and More](https://longbridge.com/en/news/298403996.md) - [US to ban Canadian motorcycle, dairy, alcohol imports as trade war sizzles](https://longbridge.com/en/news/298401415.md) - [Stock of the Day: Is This the Bottom for Fair Issac?](https://longbridge.com/en/news/298350084.md) - [Intel Jumps 10% as Analyst Says Musk’s Terafab Could Give Foundry Much-Needed Scale](https://longbridge.com/en/news/298350844.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**