www.stratexinternational.com
Stratex International is an exploration and development company focusing on gold and high-value base metals. The company objective is to be a leading-edge and innovative explorer whilst creating revenue from gold and base metal production via well-managed joint-ventures.
Since formation, Stratex has rapidly amassed a portfolio of high-potential exploration licences in Turkey and Ethiopia, primarily focussed on gold.
Stratex International making good progress in Turkey - FoxDavies
Stratex International (LON:STI) is making rapid progress at its assets in Turkey, according to Broker FoxDavies, which rates the stock a "buy" with a target price of 12.5 pence per share (current price: 7.75p).
The firm has eight projects in Turkey.
Significantly, the company released an updated resource statement for the Ortoçam and Ortoçam North zones of the Öksüt gold project, which upped the total resource by 63 percent, said FoxDavies.
This latest oxide resource estimate at Ortaçam and Ortaçam North totals 7.80 million tonnes of indicated and inferred at 0.96 g/t gold for 241 440 ounces.
FoxDavies said it has added these additional oxide ounces from Öksüt into a model using a method, which includes the recent average gold spot price of US$1500 oz.
"On this basis, Stratex’s 278 koz of attributable gold from Öksüt and Karaaac (another of the firm's projects - in western Australia) would suggest a value of US$12.497 million or approximately 2.6 pence per share," said analyst Peter Rose.
The broker gives a total value for the company of 12.5 pence per share.
Last week the firm unveiled a maiden resource estimate for the Muratdere copper-gold project which showed 186,000 tonnes of copper and 204,296 ounces of gold, as well as 3.9 million ounces of silver, 6,390 tonnes of molybdenum and 17,594 kilograms of rhenium – a rare and expensive industrial metal.
"We have given a value of the maiden resource at Muratdere using comparable recent takeover prices on similar copper equivalent resources. On this basis we believe that Muratdere gives an extra 1.8p of value to the share price," said the broker.
"We continue to believe that Stratex is rapidly moving forward on getting its Turkish assets into production and has an ever improving suite of prospective exploration assets in Turkey and East Africa," concluded Rose.



















