Source - RNS
RNS Number : 8405I
Stratmin Global Resources PLC
02 September 2016

2 September 2016



StratMin Global Resources Plc

("StratMin" or the "Company")

Bass issues 75 Million Shares to StratMin

StratMin Global Resources Plc (AIM: STGR), notes that Bass Metals Ltd ("Bass") has notified the Australian Stock Exchange (ASX) today of the issuance of equity in relation to, inter alia, Bass' recent capital raise and the initial equity settlement component due to Stratmin for the acquisition of Graphmada Mauritius.



1.    StratMin issued 75 million new Bass Ordinary Shares at a price of $0.01 per share as part of the consideration for the divestment of Graphmada Mauritius.


2.    Stratmin becomes a significant shareholder in Bass, as defined by the ASX, with an initial 6.3% shareholding.


3.    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.


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


Stratmin and Bass are now finalising the working capital adjustment to the cash consideration payable of A$1,500,000, of which A$600,000 has already been received by Stratmin, with the balance expected in the next week. A further announcement will be made in due course.



Stratmin and Tirupati are now finalising funding for the 12,000 tpa Vatomaina flake graphite Joint Venture. Initiation of funding is expected within the next 12 days. Please refer to the Company's announcement of 7 July 2016 for further information on the Vatomaina project.





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