News blog
Stratex International
- BY: Andrew Hore |
- POSTED: 25/11/2008 |
ASX-quoted Syrah Resources is not going ahead with its joint venture with Stratex International.
The joint venture was going to cover the Altintepe and Inlice gold projects in Turkey. These two projects have gold resources of nearly 571,000 ounces.
Shares in Stratex held steady at 2.375p each, which values the company at £5.56m.
Syrah blames the deterioration in the financial markets for the potential difficulty of raising the cash required to develop the projects. Technical issues were also mentioned.
Stratex is talking to other potential partners or expressed an interest. It requires one with technical capabilities and financial resources to complete scoping and feasibility studies on one or both projects.
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