Last checked at 10 Oct 2008 11:02
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
10th October 2008
Stratex International Plc ('Stratex' or the 'Company')
Appointment of Fox-Davies Capital as Joint Broker
Stratex International Plc, the AIM-quoted exploration and development company currently developing gold resources and exploring for world-class gold and base metal deposits in Turkey, is pleased to announce that it has appointed Fox-Davies Capital Limited ('Fox-Davies'), as its joint broker with immediate effect. HansonWesthouse continues to act as nominated adviser and joint broker for the Company.
Fox-Davies is a Member of the London Stock Exchange and specialises in providing Corporate Finance advisory, broking and capital raising services to international resource companies. Fox-Davies provides its corporate clients with access to investors in the UK, European and North American capital markets and has an established track record with specialist resource investors.
Bob Foster, CEO of Stratex, said, "We are delighted to have appointed Fox-Davies to act as joint broker to Stratex. Fox-Davies' research-driven platform, track record and experience in supporting junior mining companies in emerging markets makes them an ideal addition to the advisory team that supports our Company. We look forward to working with Fox-Davies and establishing a strong broking and advisory relationship to both support and promote the Company amongst UK and international investors."
Further information is available on Fox Davies Capital's website at: www.fdcap.com
For further information on the Company, visit: www.stratexinternational.com
or contact:
| David Hall/ Bob Foster | Stratex International Plc | Tel: 020 7830 9650 |
| Anita Ghanekar/ Harry Barraclough | HansonWesthouse | Tel: 020 7601 6100 |
| Richard Hail, Head of Corporate Finance | Fox Davies Capital | Tel 020 7936 5230 |
| Victoria Thomas/ Felicity Edwards | St Brides Media & Finance Ltd | Tel: 020 7236 1177 |
Notes to editors
Stratex International Plc is an AIM-quoted exploration and development company currently focusing on gold and base metal opportunities in Turkey. Its proven strategy is to discover and develop new projects by focused low-cost exploration, thus adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company.
Stratex's portfolio covers 11 licence blocks in central and western Turkey totalling approximately 1,630 sq km. These include the Inlice high-sulphidation gold deposit in the Konya Volcanic Belt, the Altıntepe multi-occurrence prospect comprising a number of discrete gold-bearing zones, Doğanbey - a new porphyry gold-molybdenum target within the Konya Volcanic Belt, Muratdere - a porphyry gold-copper-molybdenum occurrence and Karaağaç - a partially exposed, gently dipping gold-bearing zone. Ongoing resource drilling and exploration programmes are underway on a number of these licences, focused on increasing Stratex's total resources, currently standing in excess of 1 million ounces of gold (including 28,600 oz gold equivalent). Furthermore, the Company has a healthy project pipeline portfolio, which it continues to strengthen through the acquisition of additional licences.
Stratex has a strategic partnership with Canadian major mining company, Teck Cominco Limited, which has an 8.8% stake in the Company, enabling the two parties to pool expertise, skills and databases to identify potential projects.