Resources PLC to remain involved in Graphmada Mauritius, says...

Resources PLC to remain involved in Graphmada Mauritius, says CEO
04 Apr 2016

http://www.stocktube.com/video/stra...main-involved-in-graphmada-mauritius-says-ceo

StratMin Global Resources PLC (LON:STGR) looks set to receive around double its current market valuation in an asset sale that should also provide a “funding solution” for its Madagascan graphite operation.

The deal will see Stratmin offload its 93.75% stake in Graphmada Mauritius business to Bass Metals Ltd (ASX:BSM) for up to £8.1mln.

Brett Boynton, chief executive, tells Proactive Investors “the important part of this is that Stratmin will still be actively involved from technology and commercial aspects in the development as major shareholders going forward in Bass.

“We are not stepping back from the assets, we are using this as a funding mechanism and are very definitely stepping forward with assets,” he adds.