https://www.engineeringnews.co.za

Stratex making strides at Senegal, Turkey gold projects

19th April 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Stratex International on Wednesday reported that it was nearing the completion of a review of its 85%-owned Dalafin gold exploration project, in Senegal.

The company and its Senegalese partner, Energy and Mining Corporation, have concluded a significant in-country cost reduction initiative and will be jointly defining a strategic approach to funding and progressing the planned exploration programme.

Meanwhile, the company has resumed “positive and constructive discussions” with Bahar Madencilik, its Turkish conglomerate partner in the Altintepe gold mine, in Turkey, in which it holds a 45% stake.

In February, the miner reported that it was considering taking steps to start receiving its share of revenue from the mine. Stratex should receive 20% of net cash generated by the project until the capital invested by Bahar Madencilik, has been repaid, after which its share will rise to 45%.

“We are confident that we are now in a position to achieve a successful outcome in relation to the joint venture relationship at the mine, in particular the due cash distributions to the company. The discussions between the [companies] are currently ongoing,” Stratex said in a statement on Wednesday.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Bell Equipment
Bell Equipment

As one of South Africa's leading manufacturers, Bell Equipment distributes and exports its wide range of heavy equipment globally to mining,...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.048 0.873s - 140pq - 2rq
Subscribe Now