Oh dear. Oh dear. Another AIM debacle involving Chinese funny money. This time it is Stratmin (STGR). Its cunning plan was to do an RTO of Signature Gold and to fund that deal with a £5 million investment from Axel Management Group Pty Ltd. What could possibly go wrong?
Graphite play Stratmin Global Resources (STGR) has clinched a £2 million farm-in agreement with Aussie-listed explorer Bass Metals for its Loharano graphite mine in eastern Madagascar, which chief executive officer Brett Boynton argues ‘will be pivotal,’ despite an unenthusiastic response from AIM punters. Under the deal, Bass is taking a 25% stake in Graphmada Mauritius, the holding company owning Loharano, with an option to take its holding to 35% by mid-December.
Life has not been easy for AIM listed Stratmin (STGR) but top mining analyst Roger Bade has flagged up a new dark cloud hanging over the entire Graphite sector. The great man writes:
As the self-congratulatory celebration of AIM’s twentieth birthday reaches a crescendo, the odd share trades (just coincidence we are sure) continue unabated. This morning, in a perfectly timed manner, we found out why StratMin Global Resources’ (STGR) share price mysteriously jumped 19% in the last hour and a half of trading yesterday. This morning, the company announced a strategic partnership with India’s Tirupati Carbons & Chemicals Group. What is brilliant about this example is that we’ve been here before with StratMin. Better yet, I reported the last time well-timed traders got their hands on StratMin’s price sensitive information to the FCA.
Brett Boynton, the corporate financier chosen to head ambitious graphite play Stratmin Global Resources (STGR) has pleased investors in this recently lacklustre AIM performer by committing himself to a cost-cutting expansion drive to double projected output from the company’s flagship Lohorano project in Madagascar within two years, while seeking out deal opportunities to expand the company further.
Manoli Yannaghas, entrepreneurial managing director of emerging graphite producer Stratmin Global Resources (STGR), has set his sights on taking the AIM-quoted company towards monthly production of 250 to 300 tons from its Loharano project in eastern Madagascar during the first half of this year, after a chapter of delays. He says Stratmin, which sold 48 tons of the stuff in December, would break into positive cash flow at 300 tons a month, with an expected selling price of $1,000 (£657) a ton for large flake graphite and anticipated costs of $700 a ton, which would fall to $500 and below as Loharano’s output increased.
In late October Stratmin (STGR) stated that after a placing then that there would be no need for another placing. On Monday it announced that it had raised £900,000 at 4.75p in an oversubscribed placing.
Graphite production and exploration in Madagascar-focused, StratMin (STGR) has updated on performance in a holiday-shortened December and emphasised that its “confidence at the operational level has grown significantly over the last few months”.
Company A on AIM issues good news. The shares go up as private investors buy. Company A then issues shares at a sharp discount to a bunch of coked up City spivs who forward sell and flip the rest post placing so making a quick killing. It is coke and hookers all round in the Square Mile and the poor private investors are back on the cabbage soup. It seems a familiar tale and so after its shares spiked on an offtake deal (great news)…. Stratmin (STGR) duly raised £800,000 at 7p. Bastards. Or maybe not.
