Stratmin Global Resources PLC Joint Venture: Environmental Permit Received (7273M)
October 17 2016 - 8:00AM
UK Regulatory
TIDMSTGR
RNS Number : 7273M
Stratmin Global Resources PLC
17 October 2016
17 October 2016
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR).
StratMin Global Resources Plc
("StratMin" or the "Company")
Joint Venture: Environmental Permit Received
StratMin Global Resources Plc (AIM: STGR), the resource and
commodity AIM cash shell company, is pleased to announce receipt of
the Environmental Permit for Tirupati Madagascar Ventures SARL's
("TMV") Vatomaina graphite project in Madagascar.
This is the final regulatory permission required for TMV to
initiate on site development.
TMV is the 98.% owned subsidiary of Tirupati Resources Mauritius
("TRM"), a joint venture between StratMin and Tirupati Carbons and
Chemicals Pvt Ltd.
Overview:
-- "Permis Environmental" issued by the "Office National pour
l'Environnement" of the Government of the Republic of Madagascar
for the Vatomaina license, Exploitation Permit (PE) No. 38321, held
by TMV.
-- Topographic and hydrogeological studies currently underway.
-- On site infrastructure development to be initiated on completion of studies.
About Vatomaina:
Vatomaina is a 12,000 tonne per annum large flake high grade
graphite mine and processing facility being developed by the
Tirupati Resources Mauritius joint venture partners in
Madagascar.
Brett Boynton, CEO, commented:
"The joint venture partners are progressing the Vatomaina
project at a steady pace and we are very happy with the progress
being made by the in-country team. With this final regulatory
requirement now in hand, we can move into on-site development.
The current hydro studies are of particular interest as initial
assessment indicates potential for hydroelectric power production
which could significantly improve project economics by
supplementing diesel power generation with clean, low cost
hydro-power."
For further information please visit www.stratminglobal.com or
contact:
StratMin Global Resources Plc
Brett Boynton, CEO +44 (0) 20 3691 6160
Allenby Capital (Nominated Adviser & Broker)
John Depasquale/ Nick Harriss/Liz Kirchner +44 (0) 020 3328 5656
Optiva Securities (Broker)
Christian Dennis +44 (0) 20 3137 1903
VSA Capital Limited (Financial Adviser)
Andrew Raca +44 (0) 20 3005 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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