Stratmin Global Resources PLC Production and Sales Update (9643J)
April 13 2015 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 9643J
Stratmin Global Resources PLC
13 April 2015
13(th) April 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Production and Sales Update
StratMin (AIM: STGR), the graphite production and exploration
company with assets in Madagascar, today provides an update on the
production and sales of graphite for the month of March 2015.
Production
Production volumes were significantly up on the February
numbers. Production numbers for the month of March 2015 were as
follows:
Production Product March 2015 February
Stage 2015
(volume in (volume in
tons) tons)
--------------- --------------- ------------ ------------
Beneficiation
Plant Wet Graphite 528 360
--------------- --------------- ------------ ------------
Post de water,
Pre Drier 281 194
--------------- --------------- ------------ ------------
Drier Dry Mixed 91 130
--------------- --------------- ------------ ------------
Screening -80mesh 55 35
--------------- --------------- ------------ ------------
+80 51 48
--------------- --------------- ------------ ------------
+50mesh 24 0
--------------- --------------- ------------ ------------
Production volumes have improved due to increased efficiency at
the plant. Recovery levels increased significantly as a result of
improved feed rates and flow management through the flotation
cells. Grade has remained the same over the last quarter. Grades of
the larger flake sizes remain higher than the smaller flake sizes
at 90 - 92% vs. 88-90%.
The new mill has been installed and limited test runs have been
performed. Development of the mill is ongoing with the plant flow
sheet near to reaching increased grades particularly in the smaller
flakes.
The new screen has been installed and drying and screening are
now a continuous cycle. Commissioning issues resulted in drying
capacity being temporarily restricted but the dryer is now
functioning to design capacity. The Company expects to process the
remaining wet graphite within April without delaying
production.
Sales
215 tons of graphite were sold in March 2015 compared to 150
tons in February 2015. Prices remain confidential under the terms
of the Offtake Agreement however, but the Company can confirm that
as the graphite quality improves the price received by the Company
increases.
The Company will now move to updating the market on its
production and sales on a quarterly basis.
Manoli Yannaghas, StratMin's Managing Director, commented:
"I am delighted to report a significant increase in both
graphite production and sales during the month thereby making March
StratMin's most successful month to date. These increases coupled
with the new mill soon to become fully operational will see the
Company's efforts over the last two years come to fruition.
"The product quality has improved markedly over the quarter,
much to the satisfaction of our customers. Further improvements to
the process flowsheet are underway to increase grade and I expect
these to have a positive effect during the next quarter"
Competent Person's Statement
The information in this announcement that relates to the
production and sales figures has been reviewed by Mr. Neville
Cowin, C.Eng, BSc (Eng), ARSM, MIMMM registration (C.Eng 325393).
Mr. Cowin is an independent consultant with over 40 years of
production experience, and works with the Company to advise on
improving performance at the plant. Mr. Cowin is a "Qualified
Person" as defined in the AIM Note for Mining Oil & Gas
Companies - June 2009, of the London Stock Exchange. Mr. Cowin
consents to the inclusion of the information in this release in the
form and context in which it appears.
Enquiries
For further information please visit www.stratminglobal.com or
contact:
+44 (0) 20
StratMin Global Resources Plc 3691 6160
Manoli Yannaghas (Managing Director)
Strand Hanson (Nomad & Financial
Adviser) +44 (0) 20
James Spinney / Ritchie Balmer 7409 3494
+44 (0) 20
Beaufort Securities (Sole Broker) 7382 8311
Elliot Hance
Blytheweigh (Financial PR) +44 (0) 20
Halimah Hussain / Megan Ray 7138 3204
-ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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