Stratmin Global Resources PLC Graphite Production and Mining Update (8268A)
March 26 2013 - 3:01AM
UK Regulatory
TIDMSTGR
RNS Number : 8268A
Stratmin Global Resources PLC
26 March 2013
26 March 2013
StratMin Global Resources Plc
("StratMin" or the "Company")
Graphite Production and Mining Update for Shareholders
StratMin Global Resources Plc (AIM: STGR), the graphite
production and exploration company with assets in Madagascar, is
pleased to announce that its first operations report for
shareholders has been released today. The Report details progress
made by StratMin from its readmission to AIM on 29 January 2013 to
date and is available at www.stratminglobal.com.
Highlights:
-- Maiden shipment of 20 tonnes of flake graphite
-- Production ramp up is progressing in line with management's
expectations - StratMin's plans begin with increasing the current
capacity of around 180 tonnes per 20 day month to 300 tonnes with
the introduction of already purchased flotation cells and then 600
tonnes with an additional shift as part of ramp up
-- Investments of c.US$0.5 million to improve plant throughput,
product quality and specification and site infrastructure. This
includes a drilling rig purchased to optimise short term mining
operations and to eventually upgrade JORC resources through proving
up additional resources and exploration drilling
-- Optimisation of profitability is still the Company's target -
producing the highest quality of graphite at the lowest cost
Gobind Sahney, Chairman of StratMin, commented: "From giving the
green light to our mining contractors in Madagascar following the
readmission to AIM at the end of January, we have made steady
progress in ramping up and optimising our production capacity. I
believe we have made an excellent start on creating a valuable
company that will deliver positive returns to shareholders in the
near term and I look forward to updating them on our progress
regular basis. In the meantime, I would like to thank shareholders
for their support and encouragement."
For further information please visit www.stratminglobal.comor
contact:
StratMin Global Resources Plc
+44 (0) 207 467
Gobind Sahney 1700
Libertas Capital Corporate Finance Limited
(Nomad and Joint Broker)
+44 (0) 207 569
Sandy Jamieson/Ciaran Walsh 9650
Peterhouse Corporate Finance
(Joint Broker)
+ 44 (0) 20 7562
Jon Levinson 3357
Optiva Securities Limited
(Joint Broker)
+44 (0) 20 3137
Jeremy King 1904
Tavistock Communications
(Financial PR and IR)
+44 (0) 207 920
Jessica Fontaine/Simon Hudson/Conrad Harrington 3150
About StratMin Global Resources:
StratMin Global Resources Plc is a graphite production and
exploration company with assets in Madagascar. Its 100% owned
subsidiary Graphmada ships from its plant located at its Loharano
license area. The Company believes the additional licence areas
owned by Graphmada are highly prospective and provide considerable
exploration and production upside potential.
StratMin Global Resources acquired 100% Graphmada Equity Pte
Ltd, the holding company of Graphmada SARL, on 28 January 2013.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
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