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

Stratmin Global Resources Plc raises £300,000

"We are very encouraged to welcome a number of new investors to the register," said chief executive Brett Boynton.
Stratmin Global Resources Plc raises £300,000
The share placing sees 12mln new shares issued at a price of 2.5p each.

Stratmin Global Resources Plc (LON:STGR) has brought in £300,000 of new capital in order to complete due diligence on potential opportunities relating to energy storage.

The company, in a statement, said the details of the ‘corporate opportunity’ it was carrying out the due diligence on was confidential. It did, however, describe it as being “related to graphite based energy storage applications that the company has been working on.”

The share placing sees 12mln new shares issued at a price of 2.5p each.

"We are very encouraged to welcome a number of new investors to the register and to be able to further progress a significant corporate opportunity for the Company with the completion of this placement,” said chief executive Brett Boynton.

Last year, Stratmin agreed a funding deal with Australian listed Bass Metals (ASX:BSM) which sees the partner acquiring 25% of the group’s graphite operation in Madagascar for £2mln.

It highlighted today, that the budget needed to progress the corporate opportunity was over and above the expansion funding provided under the Bass Metals agreement.

Additionally, the company told investors that it is currently deemed to be in a closed period, as a result of the ‘confidential corporate opportunities’, but, once it is next in an open period it intends to issue shares to its executive management and certain other employees as conversion of outstanding directors fees and other arrears.

Jamie_55a91591db06b.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

Related Articles

Barruecopardo.jpg
October 28 2015
Ormonde Mining now has a clear path to construction and production at the Barruecopardo tungsten project in Spain
Gold pour
April 28 2016
The gold miner's renaissance continues with two game-changing deals, while it said it is in advanced discussions with its lenders about new terms for its lending facilities
Loharano_5652c6a17bef4.jpg
November 23 2015
"Subject to follow up testing confirming mineralisation we hope to have sufficient graphitic ore in the existing operational area to support a significant expansion programme," the CEO said.

© Proactive Investors 2016

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.