Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Stratmin Global says upgrades at Loharano bearing fruit

The plant produced over 94% graphite concentrate, on demand and at volume over a month for the first time
Stratmin Global says upgrades at Loharano bearing fruit
Stratmin is now onto a final stage of refurbishment at Loharano

StratMin Global (LON:STGR) has reported sustained grade and volume improvements over the past month at its Loharano graphite mine in Madagascar.

The plant has produced over 94% graphite concentrate, on demand and at volume for the first time, it said.

Sales, meanwhile, included repeat orders from India and first shipments to new buyers in Germany and Austria, while samples have been approved for further sales in Europe.

Stratmin said it is now onto a final stage of refurbishment that includes new milling and drying units and mining fleet.

A second tranche of funding totalling £1.5mln due from Bass Metals will pay for this and is due by the end of March.

Mining the adjacent Mahefedok area is also underway to bulk test ore for planned new plant.

Brett Boynton, chief executive, said it had been working through a methodical programme of operational improvement to maximise the value of every production hour.

“With the plant in an improved operational state, we decided to open up Mahefedok and bulk test the new ore zone on a commercial scale over an extended period ahead of finalising engineering on the new plant.” 

“Everything we have accomplished has been without a break in production so we have utilised to the full extent the cash flow from operations to fund progress."

Shares rose 8% to 2.71p.

PhilW.jpg
Why Invest In Stratmin Global Resources PLC? Read More Here

Register here to be notified of future STGR Company articles
View full STGR profile

Stratmin Global Resources PLC Timeline

Newswire
September 30 2016
Big Picture
September 28 2016
Newswire
September 14 2016

Related Articles

Glen3.jpg
November 25 2016
"Back in January nobody wanted to know anything about resources, let alone gold, and we saw an opportunity..."
Rolled-copper.jpg
May 31 2016
Galileo Resources has a sizeable footprint on a copper-rich region of South Africa, and is now pressing ahead towards a resource
picture of gold pour
February 23 2017
Ironridge thinks its portfolio, which sits on the prolific Wa-Lawra shear in the north-east of the country, has “company making potential”.

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use