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  • Stratum Metals Gains New Substantial Shareholders  0 comments
    May 8, 2013 1:32 AM

    Stratum Metals (ASX: SXT) has added Resource Assets Pty Ltd and associate company Willie Grocer Pty Ltd to its register as substantial shareholders with a combined 9.71% interest.

    The two companies collectively hold around 6.2 million shares, which they acquired between 31 January 2013 and 3 May 2013.

    Resource Assets is one of the consortia that Stratum recently entered into an agreement with to consolidate 54 tenements, including two mining licences, in the East Menzies Goldfield of Western Australia.

    Willie Grocer holds a greater than 20% voting power in Resource Assets and holds 153,134 shares in Stratum Metals.

    Most recently Stratum has intercepted 75 metres of sulphides close to surface in the first hole drilled to test three electromagnetic conductors at its East Menzies Goldfields Project.

    This closely followed a discovery of gold grades up to 9.59 grams per tonne (g/t) in shaft spoil samples taken from the project.

    Over 100 old shafts/workings are registered by the Western Australian Department of Mines and Petroleum on the East Menzies project area. These old shafts extend over 11 kilometres of strike and historically produced over 30,000 ounces of gold.

    Stratum Metals had around A$1.6 million in cash at the end of the March 2013 quarter.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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