StratMin Global Resources has initiated its funding of the JV (with Tirupati Carbons and Chemicals Pvt Ltd) Vatomaina project.
StratMin has made an initial investment in Tirupati Resources Mauritius Ltd, the joint venture holding company of the joint venture between StratMin and Tirupati ("TRM").
It said $50,000 has been invested by way of a subscription for 1.48% of the enlarged issued share capital of TRM.
A further investment is expected to be made at month end from the funding facility announced on the 28 of September 2016.
Funds will be applied to completion of the Environmental Permit, which is the final regulatory requirement before on site development can be initiated. This is detailed further in the Project Update below.
At 9:19am: (LON:STGR) StratMin Global Resources PLC share price was +0.5p at 2.13p