26 Mar 2013 07:00
26 March 2013
StratMin Global Resources Plc
("StratMin" or the "Company")
Graphite Production and Mining Update for Shareholders
StratMin Global Resources Plc (AIM: STGR), the graphite production and exploration company with assets in Madagascar, is pleased to announce that its first operations report for shareholders has been released today. The Report details progress made by StratMin from its readmission to AIM on 29 January 2013 to date and is available at www.stratminglobal.com.
Highlights:
·; Maiden shipment of 20 tonnes of flake graphite
·; Production ramp up is progressing in line with management's expectations - StratMin's plans begin with increasing the current capacity of around 180 tonnes per 20 day month to 300 tonnes with the introduction of already purchased flotation cells and then 600 tonnes with an additional shift as part of ramp up
·; Investments of c.US$0.5 million to improve plant throughput, product quality and specification and site infrastructure. This includes a drilling rig purchased to optimise short term mining operations and to eventually upgrade JORC resources through proving up additional resources and exploration drilling
·; Optimisation of profitability is still the Company's target - producing the highest quality of graphite at the lowest cost
Gobind Sahney, Chairman of StratMin, commented: "From giving the green light to our mining contractors in Madagascar following the readmission to AIM at the end of January, we have made steady progress in ramping up and optimising our production capacity. I believe we have made an excellent start on creating a valuable company that will deliver positive returns to shareholders in the near term and I look forward to updating them on our progress regular basis. In the meantime, I would like to thank shareholders for their support and encouragement."
For further information please visit www.stratminglobal.comor contact:
StratMin Global Resources Plc |
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Gobind Sahney | +44 (0) 207 467 1700 |
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Libertas Capital Corporate Finance Limited (Nomad and Joint Broker) |
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Sandy Jamieson/Ciaran Walsh | +44 (0) 207 569 9650 |
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Peterhouse Corporate Finance (Joint Broker) |
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Jon Levinson | + 44 (0) 20 7562 3357 |
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Optiva Securities Limited (Joint Broker) |
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Jeremy King | +44 (0) 20 3137 1904 |
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Tavistock Communications (Financial PR and IR) |
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Jessica Fontaine/Simon Hudson/Conrad Harrington | +44 (0) 207 920 3150 |
About StratMin Global Resources:
StratMin Global Resources Plc is a graphite production and exploration company with assets in Madagascar. Its 100% owned subsidiary Graphmada ships from its plant located at its Loharano license area. The Company believes the additional licence areas owned by Graphmada are highly prospective and provide considerable exploration and production upside potential.
StratMin Global Resources acquired 100% Graphmada Equity Pte Ltd, the holding company of Graphmada SARL, on 28 January 2013.
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