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Published on Aug 23, 2016
StratMin
Global Resources PLC (LON:STGR) has disposed of its Graphmada business
in Mauritius after the acquisition was agreed on Monday.
Acquirer Bass Metals Ltd (ASX:BSM) will make an initial payment of A$1.5mln in cash by the end of the month. The remainder of the A$15.25mln will be met through shares and a net smelter royalty.
Brett Boynton, chief executive, tells Proactive Investors '' through the sale we have ended up with an equity position which will enable us to pursue our joint venture with our technical partner Tirupati on another Graphite project about 20 km away from the existing operation.''
''Our focus will immediately switch, from an operational point of view, to the development of the Vatomaina asset'', he adds.
Acquirer Bass Metals Ltd (ASX:BSM) will make an initial payment of A$1.5mln in cash by the end of the month. The remainder of the A$15.25mln will be met through shares and a net smelter royalty.
Brett Boynton, chief executive, tells Proactive Investors '' through the sale we have ended up with an equity position which will enable us to pursue our joint venture with our technical partner Tirupati on another Graphite project about 20 km away from the existing operation.''
''Our focus will immediately switch, from an operational point of view, to the development of the Vatomaina asset'', he adds.
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