Last checked at 29 Jun 2011 17:11
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
29 June 2011
Stratex International Plc ('Stratex' or the 'Company')
Holdings in Company
Stratex International Plc, the AIM-quoted international exploration and development company currently focusing on gold and base metal opportunities in Turkey and East Africa, has been notified that on 29 June 2011, Kairos Investment Management Ltd, as agent for Kairos Eurasian Fund Ltd ('Kairos'), sold a total of 850,000 ordinary shares in the Company. Following the disposals Kairos has 11,875,000 ordinary shares representing 3.52% of the issued share capital of the Company.
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For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:
Christopher Hall / Bob Foster / Claire Palmer | Stratex International Plc | Tel: +44 (0) 20 7830 9650 |
Martin Davison / Richard Baty | Westhouse Securities Limited | Tel: +44 (0) 20 7601 6100 |
Felicity Edwards / Elisabeth Cowell | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
Stratex - Turkey Portfolio
In Turkey, Stratex's prime objective is to move into gold production through its partnership with its Turkish partner NTF, with initial production targeted at its Inlice project by H1 2012 and at Altıntepe by 2013, subject to outcome of scoping and feasibility studies. The Company also remains focussed on discovering and developing new projects through low-cost exploration, adding maximum value prior to optioning/joint venturing or selling on to a dedicated mining company.
·; Total resources stand at 1.31 million oz of gold (combined oxide and sulphide gold) and approximately 3.2 million oz of silver, on a JV-inclusive basis
·; Partnership with NTF, a technically capable and well-financed Turkish company, to rapidly develop the 542,318 oz oxide gold resources present at the Inlice and Altıntepe projects
·; An option/joint venture agreement with Centerra Exploration B.V., a wholly owned subsidiary of Centerra Gold Inc., to explore and develop the Öksüt project, a high-sulphidation gold discovery located in Central Anatolia
·; An option/joint venture agreement over the Hasancelebi project, a high-sulphidation gold project in central Turkey with Teck Madencilik Sanayi Ticaret A.S., a Turkish subsidiary of Teck Resources Limited of Canada, a major shareholder in Stratex
·; An option/joint venture agreement with private Turkish company Aydeniz Group to explore and develop the Muratdere porphyry copper-gold-molybdenum deposit in western Turkey
Stratex East Africa Ltd ('SEA') - Ethiopia and Djibouti Portfolio
·; 4.93% shareholding in PLUS-quoted exploration company Sheba Exploration (UK) plc ('Sheba')
·; A joint venture with Sheba to (i) earn-in to an initial 60% of the prospective 37 sq km Shehagne gold project in Ethiopia, and (ii) explore targets in northern Ethiopia on a 70:30 joint venture basis
·; Berahale and Gademsa EELs cover a combined area of 1,225 sq km in northern and central Ethiopia respectively and are prospective for gold and base metals
·; Multiple low-sulphidation vein systems recently discovered in the Blackrock EEL with bonanza gold values up to 34.6 g/t Au and 60.4 g/t in outcrop.
·; 3,853 sq km land position over new epithermal gold discovery and multiple related gold targets in the Afar Depression of eastern Ethiopia and Djibouti
·; Stratex International has signed a binding Heads of Agreement with Thani Ashanti, an AngloGold Ashanti Limited joint venture company, to fast-track development of first 11 prospects identified within the Afar Depression (collectively the 'Afar Project'). Thani Ashanti can earn 51% of the Afar Project by spending US$3 million on exploration and development over two years.