Global Strategic Metals (ASX: GSZ) has received a notice of substantial shareholding from resources investor Michael Mihran Shmazian and associates regarding an increase in voting power to 30.78% from 30.74%.
Shmazian's associate company Exchange Minerals Limited (BVI) had acquired 100,000 shares in an on-market purchase for $2,800, or $0.028 per share, on 30 January 2014.
This takes Shmazian's total shareholding up to 71,066,559 shares.
During the December 2013 quarter, the company completed the extraction of two 500 tonne bulk samples from its 80%-owned Wolfsberg Lithium Project in Austria.
Some of this ore will be used to update the metallurgical test work carried out by the North Carolina State Minerals Research Laboratory in the 1980's.
Recent advances in processing technology, particularly grinding techniques, may have a significant impact on both the recovery rate and the quality of the concentrates produced.
The company has fulfilled all conditions required for the grant of mining leases over the project, which it expects to occur in the near future.
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.