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Bass Metals Ltd

Publié le 04 décembre 2015

Bass Transaction Update 4 December 2015

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Bass Transaction Update 4 December 2015

212587e6-d38e-4450-8aa1-f8964278d9c8.pdf



StratMin Global Resources Plc

('StratMin' or the 'Company')


Bass transaction update


StratMin Global Resources Plc (AIM: STGR), London's only listed graphite production and exploration company, announces that it has further progressed the investment by ASX listed, Bass Metals Ltd ('Bass'), into the Company's subsidiary, Graphmada Mauritius, details of which were initially announced on 2 September 2015, with further updates on 1 October 2015, 21 October 2015 and 18 November 2015 (the 'Investment Agreement').


Amounts totalling £277,885 have been received by StratMin to date and Bass has committed to fully funding the first tranche of £500,000 by 31 December 2015 ('First Tranche'). Bass has further committed to fully funding the second tranche of £1,500,000 by 31 March 2016 ('Second Tranche'). Completion of the First Tranche delivers Bass a 6.25% interest in Graphmada Mauritius, with completion of the Second Tranche taking this interest to 25%.


The Investment Agreement also includes an option incentive for Bass to further increase its holding in Graphmada Mauritius (the 'Option Incentive'). Bass has requested an amendment to the terms of the Option Incentive such that Bass may acquire up to a further 15% of Graphmada Mauritius under the same option pricing mechanism as originally agreed on 2 September 2015. The exercise of the Option Incentive is subject to the completion of the Second Tranche by 31 March 2016 and must be exercised before 30 April 2016, or a mutually agreed alternative date. If exercised in part or in full, the Option Incentive will deliver additional funding to Stratmin.


The exercise price of the Option Incentive requires Bass to pay a premium to the implied share price of Stratmin set by reference to the 5 day volume weighted average price ('VWAP')of Stratmin's Ordinary Shares according to the following formula:


For 15% interest in Graphmada Mauritius = (x/4.03) multiplied by GBP1.23 million multiplied by 1.5 where x = the 5 day VWAP in pence per share.


This amendment to the Investment Agreement follows the settlement of a legal claim by Bass with Singapore-listed, LionGold Corp Group, that is providing Bass with A$2.5m, as detailed in the Company's announcement of 18 November 2015, which will be part used to finance the Investment Agreement in addition to other funding initiatives being investigated by Bass. The funds received from the completion of the First Tranche and Second Tranche, and the Option Incentive if exercised, will be used by Stratmin to progress the expansion of Graphmada's operations, further details of which will be provided shortly.


Brett Boynton, CEO, commented:


'We are very pleased to have a schedule for completion of our deal with Bass so we can finalise the CAPEX budget for the next phase of our expansion program. Their continued commitment to extending their position in the farm-in with an agreed premium to the implied share price in the Option Incentive component of the Investment Agreement is a great endorsement and shows their confidence in what we are building.'


StratMin Global Resources Plc

Brett Boynton, CEO

+44 (0) 20 3691 6160

Strand Hanson (Nominated & Financial Adviser)

Rory Murphy / Ritchie Balmer

+44 (0) 20 7409 3494

Beaufort Securities (Broker)

Jon Bellis

+44 (0) 20 7382 8300

Blytheweigh (Financial PR)

Camilla Horsfall/ Megan Ray

+44 (0) 20 7138 3204

Lire la suite de l'article sur www.noodls.com

Bass Metals Ltd

PRODUCTEUR
CODE : BSM.AX
ISIN : AU000000BSM8
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Bass Metals est une société de production minière de plomb et de zinc basée en Australie.

Bass Metals est productrice de plomb, de zinc, d'argent, de cuivre et d'or en Australie, en développement de projets d'argent, de cuivre, d'or, de plomb et de zinc en Australie.

Son principal projet en production est QUE RIVER MINE en Australie, son principal projet en développement est HELLYER MINE en Australie et ses principaux projets en exploration sont WHYTE RIVER, HEAZLEWOOD, STERLING VALLEY, MAGNET JV, LYNCHFORD JV, LEVEN RIVER JV, OONAH JV, MT CHARTER et FARRELL en Australie.

Bass Metals est cotée en Australie. Sa capitalisation boursière aujourd'hui est 417,3 millions AU$ (299,4 millions US$, 257,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 18 février 2011 à 0,47 AU$, et son plus bas niveau récent le 27 juin 2014 à 0,00 AU$.

Bass Metals possède 1 368 150 016 actions en circulation.

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Nominations de Bass Metals Ltd
28/08/2008Appointment of new Exploration Manager
Projets de Bass Metals Ltd
09/12/2011Commercial Robustness of Hellyer Gold Project
20/10/2011McKay High-Grade Hit
28/07/2010(Hellyer Mine)Positive Gold Processing Scoping Study Outcomes
27/01/2010(Hellyer Mine)to Develop its Second Base Metals Mine in Tasmania
18/08/2009(Hellyer Mine)Updated Fossey Zone Resource
23/06/2009(Hellyer Mine)Hellyer Mine Lease Transfer & Tails Resource Update
17/02/2009(Que River Mine)Que River Drilling Update
10/02/2009(Que River Mine)Que River Ore Reserve Upgrade
04/02/2009(Hellyer Mine)Fossey Zone Drilling Update
11/12/2008(Hellyer Mine)Expands Growth Horizons With Landmark $4m Hellyer Mill Acqui...
14/11/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
30/09/2008(Hellyer Mine)Fossey Zone Resource - Doubles Hellyer Resources
26/09/2008(Que River Mine)Delivers Maiden $1.8M Net Profit Underpinned by Strong Produ...
08/09/2008(Que River Mine)Hellyer & Que River Mine Update
19/08/2008Further Progress on High-Grade Polymetallic Mineralisation a...
01/07/2008(Hellyer Mine)High grade drill intercepts at Fossey Zone
23/06/2008(Que River Mine)Que River Mine Operations Update
02/05/2008 Fossey Zone - High Grade Drill Intercept
17/04/2008(Hellyer Mine)Hellyer Mine Project- High Grade Drill Intercept
10/03/2008Bass Metals: Fossey Zone, Hellyer - Further High Grade Assay...
27/02/200819 Metre High Grade Intersection at Fossey Zone, Hellyer
12/02/2008 Further High Grade Base Metal Intersections at Fossey Zone
Communiqués de Presse de Bass Metals Ltd
27/05/2016Bass Transaction Update
04/12/2015Bass Transaction Update 4 December 2015
18/09/2015Bass Metals Ltd Investment Update
29/12/201330.12.2013 Quarterly Activities Report
25/10/2011MD Interview =e2?? Quarterly and Capital Raising
25/10/2011September Quarterly Report - A Strong Recovery
13/10/2011Open Investor Forums - Brisbane, Sydney, Melbourne, Perth an...
15/09/2011Prospectus and Update Interview
20/07/2011Rebuilding Lost Value
15/06/2010European Investor Roadshow
11/06/2010New Broker Research from Intersuisse
29/01/2010December 2009 Quarterly Report Of Activities & Cashflow
05/10/2009Hellyer Toll Treatment Letter of Intent
28/09/2009Bass poised for strong growth after sharp increase in profit
14/09/2009Reaches Agreement to Extend Que River Ore Sales
30/07/2009June 2009 Quarterly Report
11/03/2009Delivers $4.5M First Half Profit on Strong Que River Perform...
24/12/2008Drilling Update
20/08/2008Iron, Tin & Tungsten - new Joint Venture
30/07/2008June 2008 Quarterly Activities Report
17/07/2008Metal - Hellyer Project Drilling Update - Fossey Zone Strike...
15/05/2008Exploration & Development Update
24/04/2008Stong March Qtly Report
24/04/2008Quarterly Activities Report - March 2008
31/01/2008December 2007 Quarterly Activities Report
21/12/2007Final Update for 2007
21/11/2007Patersons Research Report
26/06/2007Signs Key Que River Off-take Agreement with Zinifex
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AUSTRALIA (BSM.AX)
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