Kairos Fund ups stake in Stratex again

It promises to be a busy end of year for news-flow from Stratex International (LON:STI) as it bids to get its first gold project in Turkey up and running by the end of 2011.

The group acquired six new licences in Djibouti, and now has a exploration area of 2,780km² stradddling the Ethiopia-Djibouti border in this highly prospective gold region.

Carried out to JORC standards, the in-house resource estimate puts 147,814 ounces of oxide gold across all resource categories into the Ortacam Zone of the Turkish project.

The company formalised the M0U about a joint venture it entered in June 2009 with NTF Insaat Ticaret. The partners target production at Inlice to start in 2011.

Stratex International’s recent move into Ethiopia seems to be paying off. The company announced positive gold results from its exploration programme at the Shehagne licence in the North of the country.

Stratex, whose name derives from “Strategic Exploration”, has always had a clear business model.  It is firmly rooted in economic exploration and the application of science to the ground, and is focussed on the skills of the high calibre, well-respected management team

Stratex International PLC (AIM: STI) has taken a stake in an Ethiopia-focused exploration company and has entered a joint venture with its new partner to target prospects in the north of the country.

Stratex International announced another milestone this morning in the form of a joint venture with mid-tier gold producer Centerra Gold.

The 2010 drilling programme is designed to expand on Olcha's maiden JORC resource and initial results demonstrate the project's significant potential. According to Davy's resource analyst Job Langbroek, the latest grades ‘comfortably achieve commercial status’.

As per the recent announcement, Baomahun is now estimated to contain 510,000 ounces of gold in measured resources – as good as it gets without being proven reserves! - 910,000 ounces of gold in indicated resources, and a further 1.030 million ounces of gold in inferred resources.

Another reserves upgrade from Norseman, yet the share price fails to reflect the gold in the ground, says Seymour Pierce's mining guru Asa Bridle.

Horizonte Minerals is making great strides with its second significant deal in less than a month. Here we map out the details of the tie-up with AngloGold Ashanti.

Investors welcomed the news that the group completed a barite sampling programme at the past-producing Derryginagh mine, sending the shares up a cool 33%.  A find made during the programme suggests the possibility of yet undiscovered veins of high commercial value.

We get a progress report from boss Dekel Golan and find him in an up-beat and confident mood about the potential of Chaarat's mine in Kyrgyzstan.

Shanta's transformation from exploration to cashflow story moved decisively in the right direction today as it pressed ahead with plans for a full feasibility study on its second Tanzanian mine.

The future for Auzex and GGG Resources just got a whole lot rosier with a massive increase in contained gold at the  Bullabulling joint venture project.

Medusa Mining (ASX:MML, LON:MML, TSX:MLL) has said that the new estimate for its Co-O gold mine in the Philippines put the probable reserve at 505,000 oz (ounces) contained in 1.46 Mt (million tonnes) grading 10.7 g/t gold.

It has taken Azerbaijan’s first modern day gold project into full production. Now Anglo Asian Mining is hoping to build on this success by increasing the reserve base and refinancing a U$S44 million loan. The company’s operation at Gedabek poured its first gold last year.