7 Apr 2014 07:00
7 April 2014
StratMin Global Resources Plc
("StratMin" or the "Company")
Repayment of Darwin Convertible Loan Instrument
StratMin (AIM: STGR), the graphite exploration and production company with assets in Madagascar, today announces that it has repaid, in cash, the entire principal and interest outstanding, on the £750,000 senior secured convertible loan notes issued to Darwin Strategic Limited in December 2013, and will not draw down on the second tranche. The Company confirms that it has no other outstanding debt facilities.
Manoli Yannaghas, StratMin's Managing Director, commented:
"The repayment of this loan was made possible by the strengthening of StratMin's balance sheet, putting the Company on a more stable footing as we move towards full production. We look forward to seeing the improved yields being achieved following recent plant modifications reflected in the bottom line."
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 |
-ends-