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Stratex's new interim chief kicks off strategic review of assets

Stratex expects to update the market on its review and announce a permanent new chief executive in the first quarter
Stratex says it is 'firmly looking to the future'

Stratex International plc’s (LON:STI) new interim chief executive Bob Foster has kicked off a review of the gold explorer’s assets.

Foster is the company’s former boss, who left in August 2016 after 10 years in the role, and was brought back on an interim basis in November to help carry out an independent review of the group’s position and strategy.

READ: Bob Foster officially confirmed as top man at Stratex

He was appointed after Stratex’s shareholders voted to remove Marcus Engelbrecht as chief executive and to scrap a proposed merger with Australian firm Crusader Resources Limited at a recent general meeting.

The strategic review includes the group’s investment in Thani Stratex Resources (TSR) assets in Djibouti and Egypt, the Dalafin project in Senegal and the Muratdere gold project in Turkey.

"The board and management are firmly looking to the future of Stratex and the current business review will enable important decisions to be made that will shape the future of the company,” Foster said.

“I believe our portfolio of projects and the Company's track record offer a sound platform from which to seek new investments that advance our ownership across the entire development curve.”

READ: Stratex parts ways with Engelbrecht

Stratex said it expects to be in a position to update shareholders on all key projects in the first quarter of 2018.

The group is also expects to announce the appointment of a new chief executive during the same period. It is in process of conducting a search for a permanent chief executive with discussions underway with potential candidates. 

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