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Production and Sales Update

13 Apr 2015 07:00

RNS Number : 9643J
Stratmin Global Resources PLC
13 April 2015
 

 13th April 2015

 

StratMin Global Resources Plc

("StratMin" or the "Company")

 

Production and Sales Update

 

StratMin (AIM: STGR), the graphite production and exploration company with assets in Madagascar, today provides an update on the production and sales of graphite for the month of March 2015.

 

Production

Production volumes were significantly up on the February numbers. Production numbers for the month of March 2015 were as follows:

 

Production Stage

Product

March 2015

(volume in tons)

February 2015

(volume in tons)

Beneficiation Plant

Wet Graphite

528

360

Post de water, Pre Drier

281

194

Drier

Dry Mixed

91

130

Screening

-80mesh

55

35

+80

51

48

+50mesh

24

0

 

 

Production volumes have improved due to increased efficiency at the plant. Recovery levels increased significantly as a result of improved feed rates and flow management through the flotation cells. Grade has remained the same over the last quarter. Grades of the larger flake sizes remain higher than the smaller flake sizes at 90 - 92% vs. 88-90%.

 

The new mill has been installed and limited test runs have been performed. Development of the mill is ongoing with the plant flow sheet near to reaching increased grades particularly in the smaller flakes.

 

The new screen has been installed and drying and screening are now a continuous cycle. Commissioning issues resulted in drying capacity being temporarily restricted but the dryer is now functioning to design capacity. The Company expects to process the remaining wet graphite within April without delaying production.

 

Sales

215 tons of graphite were sold in March 2015 compared to 150 tons in February 2015. Prices remain confidential under the terms of the Offtake Agreement however, but the Company can confirm that as the graphite quality improves the price received by the Company increases.

 

The Company will now move to updating the market on its production and sales on a quarterly basis.

 

 

 

 

Manoli Yannaghas, StratMin's Managing Director, commented:

 

"I am delighted to report a significant increase in both graphite production and sales during the month thereby making March StratMin's most successful month to date. These increases coupled with the new mill soon to become fully operational will see the Company's efforts over the last two years come to fruition.

 

"The product quality has improved markedly over the quarter, much to the satisfaction of our customers. Further improvements to the process flowsheet are underway to increase grade and I expect these to have a positive effect during the next quarter"

 

 

Competent Person's Statement

The information in this announcement that relates to the production and sales figures has been reviewed by Mr. Neville Cowin, C.Eng, BSc (Eng), ARSM, MIMMM registration (C.Eng 325393). Mr. Cowin is an independent consultant with over 40 years of production experience, and works with the Company to advise on improving performance at the plant. Mr. Cowin is a "Qualified Person" as defined in the AIM Note for Mining Oil & Gas Companies - June 2009, of the London Stock Exchange. Mr. Cowin consents to the inclusion of the information in this release in the form and context in which it appears.

 

 

Enquiries

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

 

StratMin Global Resources Plc

+44 (0) 20 3691 6160

Manoli Yannaghas (Managing Director)

Strand Hanson (Nomad & Financial Adviser)

James Spinney / Ritchie Balmer

+44 (0) 20 7409 3494

Beaufort Securities (Sole Broker)

+44 (0) 20 7382 8311

Elliot Hance

Blytheweigh (Financial PR)

Halimah Hussain / Megan Ray

+44 (0) 20 7138 3204

 

 

-ends

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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