StratMin Completes Stage 2 Optimization at Loharno Plant

StratMin Global Resources plc (LSE:STGR) announced that it’s completed the second stage of optimization at its Loharno plant. According to the company, hourly production rates are now better, and graphite purity levels have been maintained.
Other highlights include:

• The plant and processing modifications are now stabilised, therefore the Loharano operation will move to twenty four hour production six days a week during August.
• The upgraded plant has now been running with increased feed, delivering up to 900kg per hour of refined graphite.
• Exploration programme currently underway at Loharano and Mahefadok to deliver the required JORC categorisation for the final feasibility study and enable improved mine planning for existing operations.
• In conjunction with studies for the proposed Mahefadok flake graphite plant, a review is being conducted into hi-tech value added products.
• The benefits of the strategic partnership with Tirupati Carbons & Chemicals Pvt. Ltd (‘Tirupati’) are positively impacting all levels of the business.
• Issue of shares to Tirupati as compensation for technical services.

Brett Boynton, CEO of StratMin, commented:

I was on site with the technical team during the plant modification and witnessed the long hard hours put in to deliver this excellent result. We are now moving out of the pilot phase and into long-term commercial operations that will take the company into sustainable profitability. Our ongoing optimisation will deliver further yield improvements and enhance the bottom line.
Completion of this pilot phase is a key differentiator between Stratmin and our listed peers. We have a seasoned and successful team that has built and operated a plant that produces high-grade, large flake graphite. We take all of this expertise into the design and delivery of the next mine and plant at Mahefadok and our joint venture project with Tirupati.
Our strategy has been a considered and staged evolution and we couldn’t be more pleased with the results over the last couple of months. Despite the promise of more hard work, I know the team is confidently looking forward to the next stage of optimisation and exploration at Loharano and Mahefadok.

Click here to read the full StratMin Global Resources plc (LSE:STGR) press release.