Photo by: Stratmin
JOHANNESBURG (miningweekly.com) – Aim-listed graphite exploration and production company StratMin Global Resources, which has assets in Madagascar, has repaid, in cash, the entire principal amount and interest outstanding on the £750 000 senior-secured convertible loan notes issued to Darwin Strategic in December 2013, and will not draw down on the second tranche.
"The repayment of this loan was made possible by the strengthening of StratMin's balance sheet, putting the company on a more stable footing as we move towards full production.
“We look forward to seeing the improved yields being achieved, following recent plant modifications, reflected in the bottom line,” said StratMin MD Manoli Yannaghas in a statement on Monday.
The company confirmed that it had no other outstanding debt facilities.