Last checked at 28 Nov 2014 07:00
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
Stratex International Plc
('Stratex' or 'the Company')
Appointment of New Director
Stratex International Plc, the AIM-quoted exploration and development company, is pleased to announce that it has appointed Emma Priestley to its Board as an Executive Director with a particular focus on new business development.
Emma graduated from the Camborne School of Mines in 1995 in Mineral Surveying and Resource Management. Following several years with mining consultancies and contractors, she qualified as a chartered mining engineer and chartered mineral surveyor. In 2000, she moved into the financial sector, working as a mining analyst and later in corporate finance, with Credit Suisse First Boston, and Ambrian Capital plc. Emma was an executive director of London Stock Exchange main market-listed Lonrho Plc, focused on the development of business opportunities in infrastructure, natural resources and support services throughout Africa. Most recently she acted as chief executive officer to a subsidiary company conducting a successful major restructuring programme, bringing the company back into strength, a market participant again. Lonrho was successfully acquired in 2013.
Christopher Hall, Non-Executive Chairman, said: "I am delighted that Emma has accepted our invitation to join the Stratex board. I have known her for many years and have seen her career develop. She is now a seasoned mining executive with a wealth of commercial experience particularly in Africa. This is probably where Stratex sees the most opportunity to develop its business in the current market so the combination of a technical background, excellent City connections and a track record of getting things done in Africa make her ideal to spearhead our new business development effort. I know I speak for the rest of the directors in welcoming her to the Company and looking forward to working with her as we edge nearer to the transformation of the Company into an explorer and prospect generator with a regular operating cash flow.
"Joining us will mean, however, that she will no longer be an independent director on the board of GoldStone. Consequently she has stepped down from the GoldStone board, although her input to the management of our strategic investment in GoldStone will be maintained through her new position at Stratex."
Emma Kinder Priestly, aged 41, was appointed to 38 companies - mostly Lonrho plc subsidiary companies - from which she resigned following its successful takeover by private interests in 2013. For a full list of current and past directorships, see Table 1 below.
There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2 (g) of the AIM Rules for Companies.
Table 1. List of Directorships & Partnerships
Current | Past 5 years (resigned from these positions after leaving Lonrho) |
GoldStone Resources Limited | Aldeamento Turistico de Macuti SARL |
Santon Consultancy Services Limited | Blueberry International Services Limited |
Stellar Resources plc | Celsys Limited |
Complete Enterprise Solutions Limited | |
Complete Enterprise Solutions (Pty) Limited | |
Five Forty Africa (BVI) Limited | |
Five Forty Aviation Limited | |
ForgetMeNot Africa Limited | |
Gardoserve (Pvt) Limited (trading as Millpal Chamicals) | |
Hotel Cardoso SARL | |
Indit Technology Distribution (Pty) Limited | |
Lonrho Africa (Holdings) Limited | |
Lonrho Agribusiness (BVI) Limited | |
Lonrho Air Africa (BVI) Limited | |
Lonrho Air (BVI) Limited | |
Lonrho Air (2) BVI Limited | |
Lonrho Air (3) BVI limited | |
Lonrho Aviation (BVI) Limited Lonrho Food Supply Chain Management Limited | |
Lonrho Holdings Limited | |
Lonrho Hotels Management Services BVI Limited | |
Lonrho Infrastructure (BVI) Limited | |
Lonrho Investments Limited | |
Lonrho Management Services Limited | |
Lonrho Oil (Malawi) Limited | |
Lonrho PLC/ Lonrho Limited | |
Lonrho Springs Limited | |
Lonzim Air (BVI) Limited | |
LonZim PLC | |
Luba Freeport Limited | |
Morningdale Properties (Pvt) Limited | |
Peak Mine (Pvt) Limited | |
Rex Mining (Pvt) Limited | |
Sociadade Commercial Bytes & Pieces Limiteda | |
Southern Africa Management Services Limited | |
Swissta Holdings Limited | |
Swissta Mozambique Lda | |
Wardlaw (1989) Limited |
* * ENDS * *
For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
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Christopher Hall / Bob Foster / Claire Bay
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
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Philip Secrett / Melanie Frean / Jen Clarke
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Northland Capital Partners Limited | Tel: +44 (0)20 7382 1100 |
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Gavin Burnell / Matthew Johnson / Alice Lane /John Howes
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SP Angel Corporate Finance LLP | Tel: +44 (0)20 3463 2260 |
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Ewan Leggat / Tercel Moore
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Yellow Jersey PR Limited | Tel: +44 (0)20 3664 4087 | ||||
Dominic Barretto / Philip Ranger / Anna Legge | |||||
Notes to Editors:
Stratex International is a well-funded AIM-quoted exploration and development company focussed on gold and high-value base metals in Turkey, East Africa and West Africa. Since listing on AIM in 2006, Stratex has had an impressive track record of successful exploration supported by joint-venture partnerships, both with major international mining companies and local companies to maximise the potential of its discoveries.
In December 2012 the Company announced the sale of its 30% interest in the Öksüt gold project for cash of 20 times its original US$1 million investment and retained a royalty of 1% up to a maximum additional value of US$20 million.
To date Stratex has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver, as well as 186,000 tonnes of copper. The Company has a robust cash balance and is therefore well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources, particularly in East Africa and West Africa.