Stratmin Global Resources PLC Commercial update on graphite sales (0095S)

TIDMSTGR

RNS Number : 0095S

Stratmin Global Resources PLC

02 July 2015

2 July 2015

StratMin Global Resources Plc

("StratMin" or the "Company")

Commercial update on graphite sales

StratMin (AIM: STGR), London's only listed graphite mining and production company, is pleased to announce the sale, in collaboration with both our off-take partner and our new joint venture partner, Tirupati Carbons & Chemicals Group (P) Ltd. ("Tirupati"), of the entire inventory of sub-94% Carbon in Graphite ("CIG") finished product.

The Company announced on 14 May 2015, the achievement of consistent production of graphite at a minimum grade of 94% CIG. This was an important milestone for the Company in moving it towards profitability as the pricing on 94% and above CIG product commands a premium over sub-94% CIG product.

Prior to establishing production at the 94% CIG grade, a stock of finished product at lower CIG grades was produced and accumulated in the warehouse. Tirupati has collaborated with Stratmin's offtake partner and found buyers for the balance of this sub 94% CIG material. Whilst the Company is now confident in its ability to produce at the 94% CIG grade, this sale demonstrates the Company's enhanced marketing capability for varying CIG grades thereby increasing potential profitability levels.

Brett Boynton, CEO commented:

"Clearing the warehouse of this inventory is an excellent demonstration of the immediate commercial impact of our partnership with Tirupati. Their global market reach helped us to quickly find a buyer for this material so we can move it out of the warehouse and release the working capital tied up. There is a market for every grade of graphite and we have an excellent offtake arrangement for all our high grade production. The proven ability to efficiently move other grades of product compliments this and gives us increased commercial confidence as we prepare to expand operations and total graphite production."

Enquiries

For further information please visit www.stratminglobal.com or contact:

 
                                         +44 (0) 20 
 StratMin Global Resources Plc            3691 6160 
 Brett Boynton (CEO) 
 
 Strand Hanson (Nominated & Financial 
  Adviser) 
  Rory Murphy / James Spinney /          +44 (0) 20 
  Ritchie Balmer                          7409 3494 
 
                                         +44 (0) 20 
 Beaufort Securities (Sole Broker)        7382 8311 
 Jon Belliss 
 
 Blytheweigh (Financial PR)              +44 (0) 20 
  Halimah Hussain / George Yeomans        7138 3204

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFSIDRIFIIE

Stratmin Global (LSE:STGR)
Historical Stock Chart
From Jun 2024 to Jul 2024