5th Nov 2013 12:33
LONDON (Alliance News) - Stratmin Global Resources PLC Tuesday said mineralogical and metallurgical testwork of its Lohorana property have found that a recovery rate of greater than 90% graphite and yields of 89% are achievable at the site.
The graphite production and exploration company, with operations in Madagascar, said the results were based on laboratory scale testwork of grab samples treated by SGS South Africa Limited and MINTEK.
Stratmin said that 70% of the graphite recovery at the site will be classed as large flake, of which 59% is the higher value jumbo flake graphite.
The company also said that the existing process plant at the site requires modification to better suit the strong ore body requirements and that new equipment is likely to cost roughly USD200,000. Equipment has been ordered and Stratmin said they expect it to be at the site by the end of 2013 and operational by early 2014.
Stratmin shares were down 8.9% to 18.00 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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