News blog
Stratex International
- BY: Andrew Hore |
- POSTED: 10/08/2009 |
Turkey-focused minerals explorer Stratex International is progressing the development of its Inlice and Altintepe gold projects with initial funds provided by its joint venture partner.
The definitive joint venture agreement with Turkish construction and mining company NTF Insaat Ticaret Ltd is still being negotiated and should be signed in the third quarter of 2009. Stratex will own 45% of the joint venture.
NTF has provided $157,000 and Golder Associates is undertaking a scoping analysis. The plan is to start production at Inlice in 18 months and Altintepe in 36 months. Additional drilling is scheduled for Inlice.
At 2.5p a share, Stratex is valued at £5.86m.
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