Stratmin Global Resources PLC Commencement of Commercial Production (7267E)
April 14 2014 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 7267E
Stratmin Global Resources PLC
14 April 2014
14 April 2014
StratMin Global Resources Plc
("StratMin" or the "Company")
Commencement of Commercial Production
StratMin (AIM: STGR), the graphite exploration and production
company with assets in Madagascar, announces that its Lohorano
plant in Madagascar is now operating consistently on a one shift
per day basis.
Based on recent production performance, the Company expects to
produce 100 tonnes of high grade flake graphite with a carbon
content expected to be in excess of 90 per cent in April. The flake
sizes will ultimately be separated into 3 saleable categories: +80,
+60 and +40 mesh. Production volumes will increase in subsequent
months and will be the subject of production updates.
Further test work at the mine site in the last week has achieved
a carbon content of 95 per cent. This was achieved on -80mesh, or
"Fines" by using a secondary a grinding stage at the mill.
The Company is also pleased to announce it is in negotiations
with a number of potential customers for its graphite concentrate
and expects to complete marketing agreements over future product
sales in the coming months. The Company looks forward to updating
the market on this and on more detailed production numbers in due
course.
Manoli Yannaghas, StratMin's Managing Director, commented:
"The start of commercial production so soon after the
installation and calibration of the scrubber last month is a great
reflection on the quality of our team on the ground in Madagascar.
I would like to thank them for their efforts and congratulate them
on the achievement.
"On the basis of last month's trial production, I am confident
we will be able to steadily increase our production from a base of
100 tonnes per month in April over the second quarter of 2014 to
reach cash flow break even within the third quarter of 2014."
For further information please visit www.stratminglobal.com or
contact:
+44 (0) 20 3691
StratMin Global Resources Plc 6160
Manoli Yannaghas (Managing Director)
Strand Hanson (Nomad & Financial Adviser) +44 (0) 20 7409
James Spinney / Ritchie Balmer 3494
+44 (0) 20 3693
Hume Capital Securities Plc (Sole Broker) 1470
Jon Belliss / Abigail Wayne
Blytheweigh (Financial PR) +44 (0) 20 7138
Tim Blythe / Halimah Hussain / Camilla Horsfall 3204
-ends
This information is provided by RNS
The company news service from the London Stock Exchange
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