Source - RNS
RNS Number : 3986I
Stratmin Global Resources PLC
30 August 2016

30 August 2016



StratMin Global Resources Plc

("StratMin" or the "Company")

Bass Transaction Settlement

StratMin Global Resources Plc (AIM: STGR), notes that Bass Metals Ltd ("Bass") has advised the Company that the capital raise to fund the purchase of Graphmada and expansion of the mine and plant at Loharano has been successful, with the final retail component of the rights issue and placement now completed.


1.    Initial funds totalling in excess of £325,000 have been remitted from Bass and received by StratMin.


2.    The balance of the A$1.5 million cash settlement is to be funded from placement proceeds and is expected to clear international banking in the next week.


3.    The first 75 million Bass ordinary shares due to Stratmin is expected to be received within the next week.


4.    Further consideration of up to A$8,000,000 in Bass ordinary shares to be paid to Stratmin subject to Graphmada meeting certain production milestones.


5.    A net smelter royalty payment from Bass of 2.5 per cent, capped at A$5,000,000, will begin in six months.


In on-going operations, Stratmin has now finalised and agreed the development budget with Tirupati for the 12,000 tpa Vatomaina flake graphite. Initiation of funding is expected within the next 15 days.



For further information please visit or contact: 


StratMin Global Resources Plc

Brett Boynton, CEO

+44 (0) 20  3691 6160

Strand Hanson (Nominated & Financial Adviser)

Rory Murphy / Ritchie Balmer

+44 (0) 20 7409 3494

Beaufort Securities (Broker)

Jon Bellis

+44 (0) 20 7382 8300

Optiva Securities (Broker)

Christian Dennis

+44 (0) 20 3137 1903


This information is provided by RNS
The company news service from the London Stock Exchange

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