3rd Jul 2014 10:24
LONDON (Alliance News) - Graphite production and exploration company StratMin Global Resources Thursday said it has signed a sales contract with an unnamed graphite trading company
StratMin, which has assets in Madagascar, said the contract with the US-based company is for the delivery of 54 tonnes of +40 mesh, 19 tonnes of 40+80 mesh and 38 tonnes of +60 mesh.
The company said further sales contracts are expected and will be announced in due course.
StratMin also said Thursday that it produced 105.0 tonnes of +40 mesh with an average carbon content of 90.30% in the second quarter. In addition, the company produced 54.5 tonnes of +60 mesh with an average carbon content of 89.41%, 17.0 tonnes of +80 mesh with an average carbon content of 87.05% and 18.5 tonnes of -80 mesh with an average carbon content of 89.60% in the second quarter.
The company said it decided to reduce production in May and June in order to avoid a backlog of stock. StratMin said now that sales channels are being secured, production will be fine-tuned and increased to meet demand and maximise profitability.
Overall, volume capacity at the plant remains at 120 tonnes per month, the company said.
StratMin shares were quoted up 1.3% or 7.60 pence Thursday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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