Stratmin Global Resources PLC Bass Metals Ltd Investment Update (5190Z)
18 September 2015 - 12:37PM
UK Regulatory
TIDMSTGR
RNS Number : 5190Z
Stratmin Global Resources PLC
18 September 2015
18 September 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Bass Metals Ltd Investment Update
Further to the announcement on 2 September 2015 regarding the
investment by ASX-listed Bass Metals Ltd ("Bass") into the
Company's subsidiary, Graphmada Mauritius, Stratmin notes the
announcement made by Bass today regarding the investment into
Graphmada Mauritius and provides the full text of that announcement
below:
Green light for acquisition of Graphmada investment
Highlights
-- Due diligence complete and supports acquisition strategy
-- Funding options for first tranche commenced
Bass Metals (Bass, ASX: BSM) has successfully completed due
diligence of the Madagascan graphite operations with AIM listed
Stratmin Global Resources Plc (Stratmin, AIM:STG).
The process brought management teams together to review legal
and technical information as well as providing an opportunity to
discuss future growth of the projects.
Having satisfied the primary diligence requirements, Bass is now
moving immediately to funding of the first tranche of the
acquisition; the right to subscribe GBP 500,000 (A$1million).
Initial conversations with investors have indicated keen
interest and support of the strategy.
Rick Anthon, Bass Chairman commented: "Completion of the various
technical, legal and commercial reviews is an important milestone
for Bass in making this investment. Our initial announcement
attracted a positive response from the London market and the
collaboration between Stratmin and Bass."
Research released last week by London based Allenby Capital Ltd
including commentary on the transaction is available at their
website below:
http://allenbycapital.com/research.html
The Company looks forward to providing further updates as and
when appropriate.
For further information please visit www.stratminglobal.com or
contact:
StratMin Global Resources Plc +44 (0) 20 3691
Brett Boynton, CEO 6160
Strand Hanson (Nominated & Financial
Adviser)
Rory Murphy / James Spinney / Ritchie +44 (0) 20 7409
Balmer 3494
Beaufort Securities (Broker) +44 (0) 20 7382
Jon Belliss 8300
Blytheweigh (Financial PR) +44 (0) 20 7138
Halimah Hussain / Megan Ray 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
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