Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Stratex says talks with Turkish partner over Altintepe cash “highly constructive”

Stratex is having "positive" discussions with joint venture partner about the distribution of cash from its 45%-owned gold mine in Turkey
 Stratex says talks with Turkish partner over Altintepe cash “highly constructive”
Altintepe is now producing gold, and cash

Stratex International plc (LON:STI) has resumed talks with Bahar Madencilik, its joint venture partner at the Altıntepe gold mine in Turkey.

“We are pleased to report our discussions with Bahar have been highly constructive over the last month and we look forward to a positive outcome that will see accretive value to the company,” said chief executive Marcus Engelbrecht.

Stratex owns a 45% interest in Altintepe and is due to receive 20% of net cash from operations until capital expenditure has been repaid, at which point it will be due 45%.

WATCH: Stratex boss "positive" on Turkey jv partner talks

However, in February the company reported that such distributions had yet to take place.

Meanwhile, over at the Dalafin project in Senegal Stratex is nearing completion of an operational review which should result in significant in-country cost reductions, although the company said it remained “committed” to the project.

And in Egypt joint venture vehicle Thani Stratex Resources continues to drill.

Among the best results from the Anbat project are 30.4 metres 1.71 grams per tonne gold, including 0.65 metres at 71.10 grams, and 34.45 metres at 0.54 grams.

 

 

Alastair_55b0a5ec88c28.jpg
Why Invest In Stratex International plc? Read More Here

Register here to be notified of future STI Company articles
View full STI profile

Stratex International plc Timeline

Newswire
September 01 2016

Related Articles

Picture of gold nuggets
August 22 2016
Now all attention is on Zambia and the Matala project.
argent-minerals-MD-david-busch-presenting-in-Sydney-Feb-2017.jpg
February 24 2017
David Busch discussed exploration plans from three highly-prospective projects.
gold nuggets on a table
March 20 2017
The junior miner is making strides in developing its five gold-focused projects in Western Australia and Tasmania

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use