25th Feb 2015 10:08
LONDON (Alliance News) - StratMin Global Resources PLC on Wednesday said it has received better-than-expected preliminary results from the Mahefadok, Mahela and Ambatofafana prospects in Madagascar.
The graphite exploration company said outcrop sample results from Mahefadok returned up to 7.18% graphite carbon.
For Mahela the outcrop results returned up to 6.9% graphite carbon, and for Ambatofafana the samples returned up to 11% graphite carbon.
Based on the results, StratMin is planning further exploration activities, including drilling work at Mahefadok and pitting and trench work at Mahela and Ambatofafana.
"These results demonstrate that StratMin is well on its way to joining the ranks of other publicly listed graphite companies who have world class deposits. However, where StratMin stands apart from the rest of this community is that it is also in production and selling product to its offtake partner," said StratMin Managing Director Manoli Yannaghas.
Shares in StratMin were up 14% to 5.40 pence on Wednesday, one of the best performers in the AIM All-Share mid-morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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