Source - RNS
RNS Number : 7273M
Stratmin Global Resources PLC
17 October 2016
 

17 October 2016

 

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

StratMin Global Resources Plc

("StratMin" or the "Company")

Joint Venture: Environmental Permit Received

StratMin Global Resources Plc (AIM: STGR), the resource and commodity AIM cash shell company, is pleased to announce receipt of the Environmental Permit for Tirupati Madagascar Ventures SARL's ("TMV") Vatomaina graphite project in Madagascar.

 

This is the final regulatory permission required for TMV to initiate on site development.

 

TMV is the 98.% owned subsidiary of Tirupati Resources Mauritius ("TRM"), a joint venture between StratMin and Tirupati Carbons and Chemicals Pvt Ltd.

 

Overview:

·     "Permis Environmental" issued by the "Office National pour l'Environnement" of the Government of the Republic of Madagascar for the Vatomaina license, Exploitation Permit (PE) No. 38321, held by TMV.

·     Topographic and hydrogeological studies currently underway.

·     On site infrastructure development to be initiated on completion of studies.

 

About Vatomaina:

Vatomaina is a 12,000 tonne per annum large flake high grade graphite mine and processing facility being developed by the Tirupati Resources Mauritius joint venture partners in Madagascar.

 

Brett Boynton, CEO, commented:

"The joint venture partners are progressing the Vatomaina project at a steady pace and we are very happy with the progress being made by the in-country team. With this final regulatory requirement now in hand, we can move into on-site development.

The current hydro studies are of particular interest as initial assessment indicates potential for hydroelectric power production which could significantly improve project economics by supplementing diesel power generation with clean, low cost hydro-power."

 

For further information please visit www.stratminglobal.com or contact:

 

StratMin Global Resources Plc

Brett Boynton, CEO

 

+44 (0) 20  3691 6160

Allenby Capital (Nominated Adviser & Broker)

John Depasquale/ Nick Harriss/Liz Kirchner

 

+44 (0) 020 3328 5656

Optiva Securities (Broker)

Christian Dennis

 

+44 (0) 20 3137 1903

VSA Capital Limited (Financial Adviser)

Andrew Raca

+44 (0) 20 3005 5000

 

 


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