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.

View full STGR profile View Profile

Stratmin Global Resources PLC Timeline

Related Articles

Rolled-copper.jpg
February 15 2017
Kincora Copper has a commanding position in one of the world's most promising emerging copper areas
Mundoro on the hunt for large copper-gold projects in south-eastern Europe
June 20 2017
Borsko shows huge potential for copper-gold epithermal and porphyry system
Nevada2.png
December 07 2016
Tertiary Minerals is the UK's only public traded fluorspar company - a mineral the firm describes as "strategic".

© 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