13th Apr 2015 07:20
LONDON (Alliance News) - StratMin Global Resources PLC shares were higher early Monday after the company said production volumes in March significantly improved from February due to increased efficiency at its plant in Madagascar.
The graphite production and exploration company said wet graphite production from its beneficiation plant in March hit 528 tonnes, up from 360 tonnes in February. Drier production was slightly lower at 91 tonnes compared with 130 tonnes but overall screening production rose to 130 tonnes, compared with 83 tonnes a month earlier.
StratMin said the improvement was down to increased efficiency at its plant, with recovery levels higher due to better feed rates and flow management through the flotation cells.
It sold 215 tonnes of graphite in the month, up from 150 a month earlier.
"I am delighted to report a significant increase in both graphite production and sales during the month thereby making March StratMin's most successful month to date. These increases coupled with the new mill soon to become fully operational will see the company's efforts over the last two years come to fruition," said Managing Director Manoli Yannaghas.
StratMin shares were up 5.6% to 4.75 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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