Focused on exploration and development of gold and high-value base metals, AIM-quoted Stratex International Plc is active in Turkey, East Africa and West Africa and, in the seven years since it was listed, has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver.
Significant cash balance
Significant cash balance following the sale of 30% interest in the 1.05 million oz Öksüt gold project to joint-venture partner Centerra for US$20 million cash - with a further US$20 million from future production royalties - and the additional sales of 45% and 51% of the Inlice and Muratdere projects, respectively.
The board continues to actively evaluate quality opportunities arising in the smaller exploration company sector, where selective investment could add value rapidly by transforming a discovery into a resource, or an early stage resource into a project which has clear economic potential.
Impressive Cornerstone Investors
The company’s successes have attracted an impressive line-up of cornerstone investors, namely AngloGold Ashanti, Teck, BlackRock Investment Management and, most recently, Investment and Exploration Capital Partners 2012 Limited Partnership, a Sprott Asset Management fund.
Cash flow from production at the Company's 45 per cent-owned Altıntepe gold project in Turkey expected end 2013/early 2014. Turkish partner Bahar Mining bearing all development and construction costs.
The Company has a successful track record in forming joint-venture partnerships with both local private companies and major international mining companies, including Antofagasta, Centerra and Teck in Turkey, and Thani Ashanti in East Africa.