Strategic Minerals Europe Corp. commenced open-pit production of tin and tantalum in the Penouta mine – simultaneous with entering the final stage of commissioning the crushing plant. The Penouta mine is expected to meet initial guidance of approximately 90 tonnes of primary concentrate per month in the first half of 2022 and reach 100 tonnes per month in the second half of 2022.

The mineral concentrate is estimated to contain approximately 70% tin (cassiterite) and 30% tantalum. The Company also has a short-term offtake agreement with a major international trading company for tin concentrate. This arrangement allows for reliable sales flow, and as production increases opens doors to new buyers of casseterite and tantalum accross European markets.