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Madagascar : STRATMIN GLOBAL RESOURCES PLC's pretax loss expands significantly in 2013

June 13, 2014

As management costs increased, while the company accomplished maiden production from its Lohorano facility, Madagascar-focused graphite explorer and producer, StratMin Global Resources PLC, has announced that its pretax loss expanded significantly in the last year.

The company said its pretax loss rose to GBP2.5 million from GBP363,000 the year ago.

It added that it accomplished maiden production of graphite from its Lohorano plant in September last year, with earnings of GBP46,000 being included in the fiscal data.

But,the company's management expenses rose to GBP2.1 million from GBP363,000, as StratMin Global Resources enhanced its operations in Madagascar during 2013.

The company said last month that its Lohorano plant generated 107 tonnes of flake graphite in April, after launching commercial production on April 9, crossing management expectations which was set at 100 tonnes.

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Source: TendersInfo (India)

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