Last checked at 5 Dec 2013 08:03
Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining
Stratex International Plc
('Stratex' or 'the Company')
Stratex International Wins Small Cap Deal of the Year Award
Stratex International Plc, the AIM-quoted exploration and development company focussed on gold and base metals in Turkey, East Africa and West Africa, is delighted to announce that it has won the Small Cap Deal of the Year Award at the Mines and Money London 2013 Mining Journal Outstanding Achievements Awards dinner.
Commenting on the award, Chairman, Christopher Hall said, "We were surprised and delighted to have been awarded the Mining Journal Small Cap Company Deal of the Year Award for the disposal of a 30% interest in our 1.0 million oz Öksüt gold discovery in Turkey. To be recognised by your peers, from a strong short list of five worthy companies, is particularly gratifying. It would be impossible to repeat the deal today and we are indebted to our partners, Centerra Gold, for dealing with us fairly and in good faith. It is also very appropriate here to acknowledge the original discovery of the Öksüt deposit by our Turkish team led by General Manager Bahri Yildiz - a first-class piece of exploration.
"Raising $20 million, with a further $20 million to come from a production royalty, has been transformational for the Company and has enabled us to adopt a more aggressive approach to strategic investment in parallel with our mainstream exploration business. We will start 2014 with an exceptionally strong treasury for a junior in the current market and look forward to turning this advantage to account for our shareholders".
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For further information please visit www.stratexinternational.com, email info@stratexplc.com, or contact:
Stratex International Plc | Tel: +44 (0)20 7830 9650 |
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Bob Foster / Christopher Hall / Claire Bay
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Grant Thornton UK LLP | Tel: +44 (0)20 7383 5100 |
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Philip Secrett / Melanie Frean / Jen Clarke
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Northland Capital Partners Limited | Tel: +44 (0)20 7796 8800 |
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Gavin Burnell / Luke Cairns / Alice Lane /John Howes
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SP Angel Corporate Finance LLP | Tel: +44 (0)20 3463 2260 |
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Ewan Leggat / Tercel Moore
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Yellow Jersey PR Limited | Tel: +44 (0)20 3664 4087 |
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Dominic Barretto / Philip Ranger / Anna Legge |
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Notes to editors:
AIM-quoted (2006) Stratex International is focussed on the exploration and development of gold and high-value base-metal deposits in Turkey and East and West Africa.
It has discovered more than 2.2 million ounces of gold and 7.9 million ounces of silver and has a strong cash position following the US$ 20M sale of its interest in the Öksüt gold project in Turkey, and its c. US$ 20M future production royalties, along with the sales of 45 and 51 per cent of its Inlice and Muratdere projects, respectively. Stratex has a well-developed strategy to use its cash balance to move it towards a sustainable cash flow position from operations.
Its focus has been to form joint-venture partnerships with local private companies and major international mining companies, such as Antofagasta and Centerra in Turkey, and Thani Ashanti in East Africa while the corporate objectives are to progress majority-owned projects towards economic evaluation and development and to take advantage of quality opportunities in the smaller exploration company sector.