Proactiveinvestors recommends
Stocktube video
10/06/2011

Bob Foster at Stratex says the potential for the company is ‘exciting’ and the upside ‘massive’

View full size
Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: STI
Latest Price: 6.00p  (-2.12% Descending)
52-week High: 11.38p
52-week Low: 6.13p
Market Cap: 21.79M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Stratex International
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.

 

Full Stratex International profile here
Is STI a Buy, Sell or Hold?Get your FREE analysis of STI
Pdf

Stratex finds new partner for Muratdere

12th Dec 2011, 7:41 am by Philip Whiterow Stratex agrees its second development deal in a week

Stratex International (LON: STI) has signed a heads of agreement with a new partner to develop the Muratdere copper-gold project in Turkey. 

The new partner will pay Stratex US$1.7 million and take a 51% stake in the project once due diligence is complete.

There is an option for this stake to increase to 61 per cent for a further US$500,000 and 3,000 metres of diamond drilling and to 70 per cent if the partner also funds a feasibility study.

Stratex cannot name its new partner until the final agreement is signed, but said it is a Turkish investment banking company.

Bob Foster, Stratex’s chief executive, added that the group is a well-funded private financial institution and investment company with a proven track record of raising substantial funds.

“It is actively focussing on using its technical and financial strengths to develop mining projects, with a particular focus on copper,” he said.

“It shares our belief that Muratdere now shows potential for successful economic development, which is enhanced by the presence of potentially valuable co-product metals, particularly gold and molybdenum,” he added.

The Muratdere property comprises two licences covering a substantial granodiorite-porphyry system located 250 km west of Ankara. 

In June, Stratex announced an initial inferred JORC-compliant resource of 51 million tonnes grading 0.36 per cent copper, 0.12 g/t gold, 2.40 g/t silver, 0.0125 per cent molybdenum, and 0.34 ppm rhenium.  

Metallurgical test work since undertaken by Wardell Armstrong has indicated that saleable copper concentrate grades could be produced from all but the unoxidised sulphide material. 

It is the second major partnership in Turkey Stratex has signed recently after the deal with Bahar Mining to develop the Altintepe gold project in northern Turkey.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.