Operating Strategy  -  Self sufficient

As a operator of a magnetite tailings business in the US, SML, unlike many of its compatriots, has an underlying cash flow. The SML Board has committed to ensuring that corporate overheads, required for a listed company, are maintained within this cash flow and that any share issues are raised for project investment.

Investment Strategy– Three pronged approach to diversified minerals

1.Coal and Bulk Materials- focused on potential projects in this sector that are tied to current contracts and further offtake arrangements at attractive prices.
2.Advanced Materials- considering project opportunities in materials where it expects demand to increase over the coming years (such as Rare Earths, Lithium and Graphite).
3.Metals- identify those projects exposed to metals that it expects to have price improvements over the next three to five years such as Nickel, gold, copper and tin/tungsten.