viewOriole Resources PLC

Stratex reports strong start to 2013


Stratex International (LON:STI) expects to announce the results of a now completed 5,000 metre drill programme at the Blackrock project in Ethiopia, by the end of June.

Non-exec chairman Christopher Hall provided a broad update of activities at an annual general meeting (AGM) today, and said that 2013 has started strongly.

"In West Africa, a 30,000 metre Rotary Air Blast (RAB) drilling programme is nearing completion at the Dalafin licence in Senegal.

"Work has also begun at the North Suehn property in Liberia, under option from BG Minerals, and a systematic search for new exploration opportunities in this region is under way," he will say.

Hall also noted that the firm continues to be encouraged by results at the Oklila prospect in Djibouti and confirmed the company continues to mull opportunities to "acquire assets from other companies who are finding the equity markets challenging".

"Stratex is well-funded and appears to be in a unique position amongst its peers.

"The board remains optimistic that the company will be able to apply its significant cash balance, which was £17 million at 30 April, to provide further growth for Stratex as we move towards a sustainable cash flow from operations."


Quick facts: Oriole Resources PLC

Price: 0.464 GBX

Market: LSE
Market Cap: £4.23 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. 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...

In exchange for publishing services rendered by the Company on behalf of Oriole Resources PLC named herein, including the promotion by the Company of Oriole Resources PLC in any Content on the Site, the Company...



Oriole Resources moving towards drilling in Cameroon as new campaign gets...

Oriole Resources PLC's (LON:ORR) Tim Livesey speaks to Proactive London's Andrew Scott following the news they've raised £419,500 to support ongoing exploration at the company's projects in Cameroon - including moving the programme at Bibemi towards drill mobilisation later this year. Livesey...

on 30/6/20

2 min read