Issue of Equity (4418D)
May 16 2012 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 4418D
Stratmin Global Resources PLC
16 May 2012
StratMin Global Resources plc
Placing of New Ordinary Shares
Work begins on maiden JORC resource estimate
StratMin Global Resources plc (AIM: STGR) ("StratMin" or the
"Company") is pleased to announce that it has raised GBP500,000
(before expenses) through a placing of 12,500,000 new ordinary
shares of 0.4p each at a price of 4p. The placing was arranged by
Optiva Securities Limited.
Application has been made for the new ordinary shares to be
admitted to AIM. Admission is expected to occur on 21 May 2012. On
admission, the new ordinary shares will rank pari passu with the
existing ordinary shares in the Company.
Gobind Sahney, Chairman of Stratmin commented, "We are pleased
to welcome our new shareholders to the StratMin register. The funds
raised will primarily be used to give the Company the flexibility
to evaluate and potentially take advantage of additional graphite
investment opportunities."
Earlier this year, StratMin announced an initial 15% investment
in Graphmada, an advanced stage graphite mining and production
company with operations in Madagascar. Graphmada is nearing
completion of its 12,000 tonne per year graphite beneficiation
plant and anticipates beginning test production upon completion.
Graphmada expects to produce a jumbo flake, premium quality
graphite product that currently sells at over US$2,000 per
tonne.
StratMin is also pleased to announce that Graphmada has begun
work to delineate a maiden Joint Ore Reserves Committee ("JORC")
compliant mineral resource estimate on their 100% owned graphite
project in Madagascar. A recently completed scoping study placed
the graphite mineral target at 6 million tonnes of ore at an
average grade of 12% carbon.
Graphite is increasingly becoming an industrial mineral in high
demand. Underinvestment in new mines, curtailed exports out of
China, and growing demand from high-tech sources have caused prices
to increase dramatically over the past few years. StratMin believes
the fundamentals are in place for continued strength and long term
price appreciation in the flake graphite market.
StratMin is an investing company focussed on seeking out
investment opportunities in the natural resource and extractive
industries sector. The Group's objective is to take meaningful
ownership positions of operating companies and assets that have
potential for significant growth, whose value can be enhanced with
our capital and expertise.
The total number of issued ordinary shares in the Company,
including the new ordinary shares, will be 76,872,045. This figure
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
StratMin Global Resources Plc
Gobind Sahney +44 (0) 207 467 1700
Libertas Capital Corporate Finance Limited
Sandy Jamieson +44 (0) 207 569 9650
Optiva Securities Limited
Jeremy King +44(0) 203 137 1904
Rivington Street Corporate Finance Limited
Jon Levinson +44(0) 207 562 3357
This information is provided by RNS
The company news service from the London Stock Exchange
END
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