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Stratex International updates on partially-owned associate's deal making

Aforo has sold out of assets in Cote d'Ivoire and has an option for a joint venture for gold projects in Burkina Faso.
Stratex owns 7.84% of Aforo, which continues to pursue an acquisitive strategy

Stratex International plc (LON:STI) said one of its partially-owned associated companies, Aforo Resources, has sold assets in Cote d'Ivoire and inked a deal for new projects in Burkina Faso.

Aforo has banked US$225,000 of gross proceeds from the sale of the Cote d'Ivoire assets.

READ: Stratex inks deal with Turkish group for Hasançelebi and Doğala gold projects

It has also signed an option for a joint venture regarding two old projects in Burkina Faso. It includes the Niare gold project, which has 98,000 ounces of estimated (non-JORC) gold resources.

Stratex owns 7.84% of Aforo, which continues to pursue an acquisitive strategy.

Bob Foster, Stratex interim chief executive, in a statement, said: “We note with interest Aforo's focus on Burkina Faso, a country that we regard as highly prospective and that still offers excellent opportunities for major discoveries.

“We look forward to further updates in due course."  

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