News blog

Stratex International

  • BY: Andrew Hore |
  • POSTED: 15/06/2009 |

Stratex International has found a joint venture partner to develop its Inlice and Altinpepe projects in Turkey.

Shares in Stratex recovered 0.25p to 2.875p each, which values the Turkey-focused explorer at £6.73m. The shares are trading at a 2009 high.

Stratex was going to develop these gold projects with ASX-quoted Syrah Resources but the partner decided not to go ahead with deal due to the poor financial markets.

The new partner is Turkish construction and mining company NTF Insaat Ticaret Ltd. Stratex will own 45% of the joint venture. The two projects should be in production within 18 months. The joint venture may develop other projects in the future.

NTF has 90 days to sign the definitive agreement, although this can be extended for a further 90 days. NTF has substantial financial resources as well as experience of contract mining. 

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds