Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Stratex International plc 'well placed going forward' says CEO Marcus Engelbrecht

Marcus Engelbrecht of Stratex International plc (LON:STI) talks to Proactive at Mines and Money 2016 about his new role as chief executive and what's he's been focusing on so far.

''The main focus for me getting into the company is really looking at the operation that we co-own in Turkey - a company called Altintepe.
We own 45% of the company, we have a Turkish partner who has built the project and is operating it. They key for me is really getting in and getting that relationship sorted''.

''Secondly, we have a significant exploration project in Senegal … I'll spend a bit of time down there talking to our partners and just reassessing the way forward for that project.''

Engelbrecht adds: ''Over and above that it's really looking for other opportunities to grow the company''.

Talking in further detail about Altintepe, Engelbrecht says: ''It's really an exciting project for us. Stratex signed a fantastic agreement when they went into partnership with Bahar, who is our partner.  They effectively came in, put the money up to build it,  we retained 45% of the company. The repayment for us is 20% of any distributions, once the capital is repaid we revert back to the 45''.

''We spent a total of £1.5 mln on the project, so I think there's a lot of upside for us''.

Meet Grit Real Estate Income Group Ltd, Kogi Iron Ltd, Ethernity Networks Ltd and Advanced Blast & Ballistic Systems Ltd at our event, London , 15 November 2018. Register here »
View full ORR profile View Profile

Oriole Resources PLC Timeline

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use