UK-listed StratMin Global Resources
Plc has said it has received £75,000 ($113,593*)
in initial payments from Australia-based Bass Metals Ltd,
which is in the process of acquiring a 25% stake in
StratMin’s subsidiary, Graphmada Mauritius.
Bass is funding the purchase via a
placement to investors and shareholders, at a 30% premium to
Bass’ share price on the ASX.
date for the deal has been extended to 21 October to
accommodate settlement for Bass international investors. The
company was trading at Australian dollar (A$) 0.01/share
($0.007/share) on 1 October.
In Australia, Hazer Group
Ltd is seeking to list on the ASX as it
progresses with the commercialisation of its technology for
producing high purity synthetic graphite.
The technology, known as the "Hazer
process", is touted as way of producing clean energy and was
developed at the University of Western Australia using natural
gas as a feedstock. According to Hazer, the graphite produced
by the process is greater than 90% C (wt) and highly
The Perth-based company, which was formed
in 2010, has employed Mac Equity Partners to issue 25m shares
at a price of A$0.20/share in a capital raising prior to
listing later this year. Hazer is currently valued at around
A$7m, according to the company’s managing
director, Geoff Pocock.
In the US, Alabama Graphite
Corp. has obtained purities of 99.99% C during
preliminary tests on the purification of concentrates from the
company’s Coosa graphite project in Alabama,
The company said it achieved the purities
using a conventional, low-temperature thermal purification
process at a North American metallurgical laboratory, which
Alabama Graphite declined to name for commercial
confidentiality reasons. The concentrates used were produced at
SGS Mineral Services' Canadian facility in Lakefield,
Alabama Graphite said it will now move
forward with larger scale testing to optimise the purification
Elsewhere, ore from Canada Carbon
Inc.’s Miller graphite project in Quebec
has been selected to be fully characterised as a standard
reference material for the chemical analysis of nuclear grade
graphite, the company announced this week.
TSX-V-listed Canada Carbon said that its
material, which it describes as "lump/vein type" graphite, had
been chosen by the Subcommittee D02.F0 on Manufactured Carbon
and Graphite Products of ASTM International – formerly
known as the American Society for Testing Materials.
The committee is composed of international
experts on speciality graphite and manufactured carbon
materials and its current primary focus is on developing
internationally recognised test methods for these products for
use in nuclear and high-tech applications.
In financial news, Graphite One Resources
Inc. has closed a non-brokered private placement for
gross proceeds of around $1.36m.
Pursuant to the closing, Graphite One has
issued 19.417m units at a price of Canadian dollar (C$)
0.07/unit ($0.05/unit). Each unit consists of one common share
and one common share purchase warrant, entitling the holder to
purchase one additional common share in the company at a price
of C$0.10 for up to three years after the closing of the
Net proceeds from the offering will be
used for exploration and development of the
company’s Graphite Creek project in Alaska,
*Conversions made October