Stratmin boss Boynton says Bass sale is ‘win-win’ deal
13:23 04 Sep 2015
Brett Boynton, CEO of Stratmin Global Resources(LON:STGR), says the sale of a 25% stake in its Madagascar mine to ASX-listed Bass Metals is a good deal for both companies and shareholders alike.
“For Bass, it’s an opportunity to take a meaningful position via a farm in agreement and come into our asset development programme.
“For us, the agreement is a source of cost effective capital now and financial partnership going forward - it’s also favourable for our London-based shareholders.”
The £2mln sale values the Loharano operation at £8mln – well in excess of the StratMin’s current market capitalisation of £5.4mln.
