Stratmin Global Resources PLC Bass transaction update (9731C)

TIDMSTGR

RNS Number : 9731C

Stratmin Global Resources PLC

21 October 2015

StratMin Global Resources Plc

("StratMin" or the "Company")

Bass transaction update

StratMin Global Resources Plc (AIM: STGR), London's only listed graphite production and exploration company, announces that it has progressed the transaction with ASX listed Bass Metals Ltd ("Bass"), details of which were announced on 2 September 2015 and 1 October 2015 (the "Transaction"), and that further instalment payments of the Initial Investment have been made by Bass.

Bass has informed Stratmin that it has transferred amounts totalling A$0.3 million (approximately GBP140,000) in two instalments to Stratmin. Stratmin expects that the first instalment will be received in its accounts tomorrow, 22 October 2015, with the second by the end of the week.

Following discussions with Bass, the board of directors of Stratmin (the "Board") has agreed to extend the date for payment of the Initial Investment, based on Bass' demonstrable commitment to the Transaction, and will announce a revised timetable in due course. It is the Board's expectation that the Initial Investment will be completed shortly.

Brett Boynton, CEO, commented:

"We have been working very closely with Bass on the Transaction and they have generated significant investment interest in the development of Graphmada. They have advised there is a brief delay in the funding programme, but we expect to proceed with the transaction in short order and will provide detailed disclosure as soon as possible. In the interim we continue with production and sales."

Capitalised terms in this announcement carry the same meaning as ascribed to them in the announcements of 2 September 2015 and 1 October 2015, unless the context requires otherwise.

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

 
 StratMin Global Resources Plc           +44 (0) 20 
  Brett Boynton, CEO                      3691 6160 
 Strand Hanson (Nominated & Financial 
  Adviser)                               +44 (0) 20 
  Rory Murphy / Ritchie Balmer            7409 3494 
 Beaufort Securities (Broker)            +44 (0) 20 
  Jon Belliss                             7382 8300 
 Blytheweigh (Financial PR)              +44 (0) 20 
  Camilla Horsfall / Megan Ray            7138 3204

This information is provided by RNS

The company news service from the London Stock Exchange

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October 21, 2015 07:01 ET (11:01 GMT)

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