18 Sep 2015 11:37
18 September 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Bass Metals Ltd Investment Update
Further to the announcement on 2 September 2015 regarding the investment by ASX-listed Bass Metals Ltd ("Bass") into the Company's subsidiary, Graphmada Mauritius, Stratmin notes the announcement made by Bass today regarding the investment into Graphmada Mauritius and provides the full text of that announcement below:
Green light for acquisition of Graphmada investment
Highlights
· Due diligence complete and supports acquisition strategy
· Funding options for first tranche commenced
Bass Metals (Bass, ASX: BSM) has successfully completed due diligence of the Madagascan graphite operations with AIM listed Stratmin Global Resources Plc (Stratmin, AIM:STG).
The process brought management teams together to review legal and technical information as well as providing an opportunity to discuss future growth of the projects.
Having satisfied the primary diligence requirements, Bass is now moving immediately to funding of the first tranche of the acquisition; the right to subscribe GBP 500,000 (A$1million).
Initial conversations with investors have indicated keen interest and support of the strategy.
Rick Anthon, Bass Chairman commented: "Completion of the various technical, legal and commercial reviews is an important milestone for Bass in making this investment. Our initial announcement attracted a positive response from the London market and the collaboration between Stratmin and Bass."
Research released last week by London based Allenby Capital Ltd including commentary on the transaction is available at their website below:
http://allenbycapital.com/research.html
The Company looks forward to providing further updates as and when appropriate.
For further information please visit www.stratminglobal.com or contact:
StratMin Global Resources Plc Brett Boynton, CEO | +44 (0) 20 3691 6160 |
Strand Hanson (Nominated & Financial Adviser) Rory Murphy / James Spinney / Ritchie Balmer | +44 (0) 20 7409 3494 |
Beaufort Securities (Broker) Jon Belliss | +44 (0) 20 7382 8300 |
Blytheweigh (Financial PR) Halimah Hussain / Megan Ray | +44 (0) 20 7138 3204 |