Last checked at 1 Mar 2018 07:00
Stratex International plc
("Stratex" or "the Company")
CEO Appointment
Further to the announcement on 1 February 2018, Stratex is pleased to confirm that Tim Livesey has today joined the board of the Company as Chief Executive Officer and Dr Bob Foster has resigned from the board.
Peter Addison, Chairman, commented: "I am pleased to welcome Tim to the Board. His experience will be invaluable in re-establishing Stratex's profile as a successful exploration and development company focusing on gold and high-value base metals. I would also like to record our appreciation and thanks to Dr Bob Foster for steering the Company through a very challenging last few months."
Commenting on his appointment, Tim Livesey said: "I am very pleased to be joining Stratex International. In particular I am looking forward to working with the team to enhance the value of our existing portfolio and importantly, to develop some new avenues for exploration. The Board and Management have steered the company through a difficult year; it is now time for us all to focus on developing some new opportunities for exploration and development success, in what we hope will be a more positive market through 2018/19."
Further information on Timothy James Livesey
Tim is a geologist and has been involved in the international exploration and mining industry for 3 decades. Working on a number of exploration and advanced stage projects through feasibility to development, Tim has a broad range of experience including roles in senior management, advanced project development, social license to operate, government relations and arbitration.
Tim has participated in the exploration, study and development of several world-class assets, including the Nkomati Nickel mine (South Africa); the Kabanga nickel project (Tanzania); the Jabal Sayid Mine in the Kingdom of Saudi Arabia; and Tethyan Copper's Reko Diq copper-gold project in Pakistan on which he remains an adviser to Barrick Gold Corporation (through Lelantos Consulting Limited) in regards to ongoing arbitration with the Government of Balochistan and the Government of Pakistan.
Most recently, Tim was COO at Reservoir Minerals and, following the purchase of Reservoir Minerals by Nevsun Resources in June 2016, Tim took on the role as Managing Director of their operating company in Serbia, Rakita Exploration, completing some company development & re-alignment and kick-starting the pre-feasibility studies at the Cukaru Peki deposit.
He is currently chairman of Minexia Limited, a mining investment, development and advisory company. Tim has also co-authored a number of technical papers and regularly presents at international conferences.
Timothy Livesey, age 50, is, or has been, a director or partner of the following companies or partnerships during the past five years.
Current directorships and partnerships | Past directorships and partnerships |
Minexia Limited | Atacama Copper Pty Limited |
Lelantos Consulting Limited | Barrick Gold Romania SRL |
Barrick Gold UK Limited | |
Rakita Exploration d.o.o. Bor | |
Transylvania Minerals SRL | |
Tethyan Copper Company Pty Limited | |
Tethyan Copper Company Pakistan Limited |
Tim does not hold any interests in the share capital of Stratex.
There is no further information required to be disclosed in respect of the above appointments pursuant to Rule 17 or Schedule 2 (g) of the AIM Rules for Companies.
** ENDS **
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.
For further information please visit www.stratexinternational.com, @StratexPLC on Twitter,
or contact:
Stratex International Plc | Tel: +44 (0)20 830 9650 |
Tim Livesey / Claire Bay | |
Camarco (IR/PR Contact) | Tel: +44 (0)20 3757 4980 |
Gordon Poole / Nick Hennis / Monique Perks | |
Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
Samantha Harrison | |
Hannam & Partners | Tel: +44 (0)20 7907 8500 |
Neil Passmore / Andrew Chubb | |
Notes to Editors:
Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns an exciting exploration project in Senegal and 14.87% of a copper-gold project at feasibility stage in Turkey, which will likely default to a 1.2% (post-Turkish tax) royalty position within the next 3 months. The Company also has interests in Thani Stratex Resources Ltd, Tembo Gold Corp. and Aforo Resources Limited for their exploration projects in Djibouti and Egypt, Tanzania, and Burkina Faso respectively. The Company is currently pursuing value-accretive opportunities within its existing portfolio as well as identifying new value-appropriate projects in Africa and Europe.