Stratmin Global Resources PLC 94% Carbon in Graphite Production Achieved (1020N)
May 14 2015 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 1020N
Stratmin Global Resources PLC
14 May 2015
14 May 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Consistent 94% Carbon in Graphite Production Achieved at
Lohorano
StratMin (AIM: STGR), the graphite mining and production company
with assets in Madagascar, announces it has achieved an overall
average carbon grade of 94.3 per cent in production carried out
over an eight day period. The plant has been taken through a series
of performance improvements since commissioning and is now steadily
producing at grades in excess of 94 per cent Carbon, as required to
achieve premium pricing under the Company's current off take
agreement.
Mill Trials
The Company installed new milling equipment at the Lohorano
property in March which was trialled over the following month and
has been operating with average grades consistently at 94 per cent
carbon. The team has managed to avoid significant flake size
degradation usually associated with excess milling, retaining over
50 per cent of the total run of production as large and jumbo
flake.
Average grade range by flake size were as follows over the
period:
Carbon Content by Mesh Flake Size
+40 -40 +50 -50 +60 -60 +80 -80 Overall
-------- -------- -------- ------ --------
94.9% 94.3% 94.0% 93.6% 94.3% 94.3%
-------- -------- -------- ------ --------
The company has identified further improvement opportunities and
expects the large flake proportion to increase along with grade
improvements as the process is further optimised.
Manoli Yannaghas, StratMin's Managing Director, commented:
"Producing 94 per cent carbon consistently further validates the
commercial viability of the Lohorano mine and plant. In particular,
it should be noted that all 94 per cent carbon produced by StratMin
is purchased under the under the terms of our existing off take
agreement.
"As we have outlined in recent announcements, the team has
demonstrated that it is able to increase volumes with the existing
plant. This increase in carbon content means that all the graphite
we produce is now profitable, something that makes Stratmin stand
out amongst its peers."
Please see link below for audio interview with Manoli Yannaghas,
Managing Director:
https://www.youtube.com/watch?v=qeM4o4ArEKg
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 (Nominated & 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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