OK I'm hearing the JORC has been delayed, sounds like they've found a cheaper way of getting the last bits of data by combining ore tests with bulk input tests to finalise the design for the new 12kpa concentrator plant but I couldn't get specifics.
Focus during January has been elsewhere, looks like on the ongoing refurbishment programme, and continuing to improve profit margins from developing improved sales channels. Also on working the finance side as we saw short term loan plus I get the feeling the team are confident more money from Bass - soon? (this would fit with the willingness of board member to lend money unsecured)
Tried to get more solid and direct facts but was told I should wait for news, should be getting progress updates on the plant refurbishment programme then on the expansion programme. Not sure how quickly but I believed in the past at least quarterly so early Dec would take us to early March.
Another contact has said the El nino wet season in Madagascar has been something else - not sure how this will have impacted January operations.
Stratmin Global Resources (LON:STGR, 2.88p) - Speculative Buy
Yesterday, Stratmin Global Resources (Stratmin) informed that on 1st February 2016, Consolidated Resources agreed to provide an unsecured loan facility of up to A$200,000 to Graphmada Mauritius, the company’s 93.5% subsidiary. So far, £24,212 has been drawn down. The funds availed under the facility are free of interest rate. Consolidated Resources has expressed interest in about 11.10% of the issued share capital of Stratmin. David Premraj would represent Consolidated Resources on the board of Stratmin.
Our view: The receipt of an unsecured loan facility from Consolidated Resources enables Stratmin to seamlessly continue expanding its operations in Loharano. This facility follows the company’s completion of its first funding tranche of £0.5m from ASX-listed Bass Metals. The funding provided by Bass Metals in the past few months led to improvements at Loharano operations. In addition, Stratmin has ordered a new power supply solution for the plant and a new diesel generator. The company also plans to seek further funding from Bass Metals this year. We look forward to more progressive developments from the Loharano operations during the year. Therefore, we maintain our Speculative Buy rating on the stock.
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