INDONESIA – Stratos funds for Yinchen Tin Project

Stratos Resources has raised $106,000 through an oversubscribed share purchase plan to advance its Yinchen Tin Project in Indonesia. The company was originally seeking to raise up to $100,000 and the directors resolved to accept all subscriptions. It will now proceed to allot about 21.2 million shares.

Proceeds will also be used to review new investment opportunities and improve the company’s working capital position.

The Yinchen Tin Project is a significant tin project based on Belitung Island that has historically produced 1-2% of annual global tin production. Belitung Island has a long mining history and culture and is where Billiton, the precursor to BHP Billiton, first commenced mining in the 1800s. Belitung and its sister island, Banka are the two key tin production regions in Indonesia producing more than 90% of Indonesia’s tin.

Indonesia and China are the two largest tin producers globally, each accounting for more than 30% of global production, and with China being a net importer of tin, Indonesia is the largest exporter of tin globally.

Stratos plans to develop the project on a 50/50 basis in conjunction with its partner, Tennant Metals, which is an international commodities trading house.

Stratos Resources is an Australian mineral exploration company seeking to generate shareholder wealth by identifying, acquiring and developing mineral projects in any jurisdiction that possess the potential for cashflow and growth. As well as the Yinchen project, Stratos also has two projects in Canada – the Manitouwadge project in Ontario with significant graphite potential and Hinton North, a development stage coal project in Alberta at the foothills of the Rocky Mountains.

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