Stratmin Global posts another consecutive six month loss

29th Sep 2015 13:47

(ShareCast News) - Stratmin Global has reported another six month loss in its latest half year results.The graphite production and exploration company posted its unaudited half year results for the six months to 30 June.It reported a wider first half loss of £1.71m, compared to £1.4m the previous year.Revenue was up to £152,000 but with a cost of sales of £182,000 it led to a loss gross margin of £30,000.However the company is remaining optimistic and said that after 30 June it announced a £2million farm in deal with Bass Metals Ltd to fund expansion of operations.It also raised over £1.5m in share issues since the start of 2015.Chief executive Brett Boynton said the company has come through a transformational period to the half year with "significant progress at an operational and corporate level"."The graphite industry continues to command headlines with discussion on renewable energy and battery storage as well as a growing number of applications in industry."Stratmin is leading the pack of a new generation of graphite companies, with actual production and sales and an exciting growth story."