StratMin Global Resources Operations Update – March 2013
March 26, 2013 (Source: StratMin Global Resources) — It is with pleasure that we provide you with our first operations update. The Company has gone through a major transitional period whereby it has been transformed from an investment company to a graphite production andexploration company with the acquisition of 100% of Graphmada SARL in Madagascar.
“Keep in mind even during the slow ramp up prior to admission there was 20 tons of graphite that was produced for export. This successfully tested the export logistics out of Madagascar.”
The Madagascar assets include two mining permits at Loharano and Antsirabe and a graphite production plant at Loharano. The plant was commissioned at the end of the Q3 2012 and commenced trial production. This was overseen by the previous management with One Vision Mineral Processing Pty Ltd (“OVM”) on a provisional basis, as the owners of Graphmada wanted to wait until the Reverse Take Over (“RTO”) was completed before executing a full speed ramp up plan. The acquisition and readmission took place at the end of January 2013, since which time there has been a marked increase in activity around operations at Loharano.
Once the RTO was completed, OVM was given the green light to begin the production ramp up process from virtually zero, to a profitable and consistent output through to a plant capacity of 12,000 tonnes per annum (“tpa”), all within a two quarter time period. It is worth remembering that even during the gradual ramp up prior to the RTO, 20 tonnes of graphite was produced for export and the export logistics out of Madagascar were successfully trialled.
For a full copy of this release click here
Get our daily investorintel update
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.