RSS UpdatesCompany Information for Stratex International Plc
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 AIM; STI
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Company Statement
Stratex International is an exploration and development company focusing on gold and high-value base metals. The company objective is to be a leading-edge and innovative explorer whilst creating revenue from gold and base metal production via well-managed joint-ventures.
Formed in 2004, the company has been positioned to take advantage of the current paucity of exploration activities and the resultant projected shortage in supply of precious and base metals. Since formation, Stratex has rapidly amassed a portfolio of high-potential exploration licences in central and western Turkey.
Current Operations
The current project portfolio is focused on gold targets in Turkey and covers eleven licence blocks totalling approximately 1,724 km2:-
Öksüt: A new 75.51 km2 licence area with key licence acquired in late March 2008. Gold mineralization hosted in Miocene volcanics, similar to the Konya Volcanic Belt. First phase of drilling complete at the Ortaçam Zone; best intersection to date of 93.60 m @ 5.61 g/t gold. Recently undertaken mapping and soil sampling across the entire property have highlighted five new prospective target zones.
Konya: Multiple porphyry gold targets (including Doğanbey) within the Konya Volcanic Belt. Geological mapping and geophysical surveys indicated a number of potentially large systems. At Doğanbey, initial drilling has indicated gold grades of approximately 0.1 g/t Au, with best intersection of 274 m @ 0.13 g/t Au. Further drilling of Doğanbey has been completed and three futher porphyry prospects have been identified by ongoing exploration.
Altıntepe: A multi-occurrence prospect comprising a number of discrete gold-bearing zones. Stratex has defined a JORC-compliant in-house oxide resource of 472,318 oz gold. It is the Company's intention to indentify a mining-capable partner to progress the project through scoping studies and feasibility, thus minimising risk and expenditure prior to any production decision.
Inlice: A high-sulphidation gold discovery in a previously unexplored area – the Konya Volcanic Belt. Stratex has defined a JORC-compliant resource of 262,300 oz gold, 98,000 oz of which is in oxide material. It is the Company's intention to indentify a mining-capable partner to progress the project through scoping studies and feasibility, thus minimising risk and expenditure prior to any production decision.
Karaağaç: A partially exposed, gently dipping gold-bearing zone, extending over an area of approximately 3.5 km2. Drilling has identified a resource of approximately 6,389,011 t @ 0.78 g/t gold for a total of 156,798 oz gold. A joint venture partner is being sought to extend the resource and undertake feasibility studies, with a view to mid-term production.
Stratex also has a strong pipeline of early-stage projects that are being investigated:
Hasançelebi: Newly discovered high-sulphidation gold system hosted within Miocene andesitic and dacitic rocks. Silica rock samples from early exploration work returned values up to 0.9 g/t Au over 4 m. Further exploration is underway.
Altunhisar and Karapinar: Two new areas of volcanic rocks similar to Konya within which multiple occurrences of Konya-type alteration have already been identified. Further exploration is underway.
Muratdere: A porphyry gold-copper-molybdenum occurrence that is exposed over an area of approximately 4,000 m x 5,00 m. Encouraging results from early drilling returned a best intersection to date of 284.7 metres grading 0.30 % copper, 0.13 g/t Au, and 0.013 % Mo.
Plans
Stratex has rapidly developed a portfolio of high-priority prospects in Turkey that require drilling to evaluate the resource potential. In total the company holds six groups of exploration licences, four outcropping mineral occurrences and one possible new gold district.
Key elements of the Company's exploration programme over the next twelve months include:
- Indentify a mining-capable partner to progress Inlice and Altıntepe through scoping studies and feasibility
- Exploration drilling of priority targets at Öksüt, Doğanbey, Hasançelebi and Altunhisar
- Acquisition of new prospects in Miocene and older terrains
Geographical Spread
Location of Stratex projects in Turkey
Board of Directors and Key Management
| BOARD OF DIRECTORS | |
| David Hall, BSc, MSc | Executive Chairman |
| Bob Foster, BSc, PhD, FIMM, CEng, FGS, CGeol | Chief Executive Officer |
| Perry Ashwood, FCA | Chief Financial Officer |
| Christopher Hall | Non-Executive Director |
| Peter Addison | Non-Executive Director |
| MANAGEMENT | |
| Mr Bahri Yildiz, BSc | General Manager Turkey |
Company Address180 Piccadilly
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Additional Address/Key ContactUK Exploration Office |
CapitalTotal Shares 234,239,442 |
Annual General MeetingLondon | Year End31 December |
Nominated BrokersFox-Davies Capital Ltd | Nominated AdvisorsHanson Westhouse Ltd |
Broker/Analyst Reports
07/05/09 - HansonWest House
Major Shareholders
| Kairos Investment Management Limited | 33,900,000 | 14.47% |
| Orion Trust Ltd | 25,719,300 | 10.98% |
| Nick Graham | 23,000,000 | 9.82% |
| Teck Limited | 20,505,006 | 8.75% |
| Cenkos CI Nominees | 9,566,456 | 4.08% |
Related News
05/10/09 - Cashed-Up Stratex International Has Big And Powerful Friends In Turkey, And A Growing Number Of Ounces Of Gold20/08/09 - Stratex Adds Centerra To Its Impressive Roster Of Relationships In Turkey
17/06/09 - Stratex Signs Up A Heavyweight Local To Do Some Of The Lifting On Its Gold Projects In Turkey
02/03/09 - Stratex Is Getting Ready To Take Another Shot At Hitting The Big Time In Turkey
11/09/08 - Stratex’s Share Price Weakness Obscures A Fundamentally Strong Position In Turkey
23/06/08 - Stratex International Mops Up The Miocene
Most Recent Statement
09/03/10 - Final Results02/03/10 - Oksut Project Resource - Turkey
26/02/10 - Total Voting Rights
04/02/10 - Holding(s) in Company
03/02/10 - Definitive Agreement with NTF Signed
27/01/10 - Raised GBP1.3 Million