9 Feb 2015 10:00
09 February 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, is pleased to provide an update on production and sales for the month of January 2015, and for the early part of February.
Production
Production volumes were up on the previous month. Production numbers for the month of January 2015(1) were as follows:
Production Stage(2) | Product | January 2015 (volume in tons) |
Beneficiation Plant | Wet Graphite | 302(3) |
Post de water, Pre Drier | 160 | |
Drier | Dry Mixed | 114 |
Screening | -80mesh | 0 |
+80 - 50mesh | 0 | |
+50mesh | 0 |
(2) Refer to Notes to Editors at end of this announcement for further details
(3) The methodology used to calculate Wet Graphite tons has been improved for this reporting period (and all subsequent periods) as compared to how it was previously calculated
Sales
44 tons of graphite were sold during January 2015. Sales as at the date of this announcement for the early part of February were 150 tons.
Manoli Yannaghas, StratMin's Managing Director, commented:
"Volume increases have continued thereby proving a steadily improving production story at the plant. Grades remaining similar to December were to be expected as the new milling and screening capacity were not operational during the period, and instead will be operational during February whereupon we would expect to see further improvement in grades."
"January was a solid month that demonstrated that we are trending upwards, we are looking forward to further improvements across the business in the immediate future".
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 number 325393. Mr. Cowin is an independent consultant with over 30 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 |
Hume Capital Securities Plc (Sole Broker) | +44 (0) 20 3693 1470 |
Jon Belliss / Abigail Wayne | |
Blytheweigh (Financial PR) Tim Blythe / Halimah Hussain / Camilla Horsfall | +44 (0) 20 7138 3204 |
Notes to Editors
Stratmin Global Resources is the only graphite producer and supplier listed on AIM.
The Company announced production early 2014 at their 100% owned Lohorano plant in Madagascar. The mine itself sits 2 km from the main road and 2 hours from Tamatave, the largest port which handles 90% of Madagascar's import and exports.
Production Plant: Table Explanation
The production plant is split into three stages.
1. Beneficiation Plant: Graphite is separated from the ore in the beneficiation plant. Beneficiated product typically contains 60 per cent. moisture.
2. Drying Plant: Water from the beneficiated product is removed from the graphite concentrate in the drying plant. This is split into two stages:
a. Dewatering: A centrifuge reduces moisture content to between 20 - 25 per cent.
b. Drying: A rotary drier reduces moisture content to under 1 per cent.
3. Screening: the process where the dry concentrate is split into different size portions and flake sizing.
We have chosen to report in this format as it better delineates the performance of the different stages of the plant. The numbers attributed to each stage represent the stand alone performance of that stage of the plant on a monthly basis.
-ends