Stratex International unveils new alliance with Centerra subsidiary

Stratex International, the AIM-listed exploration and development company focused on gold and base metals in Turkey, East and West Africa, has formed a strategic alliance with a subsidiary of the North America-based gold mining company Centerra Gold, to explore for gold in central Turkey.

By MoneyWeek

published 26 March 2013

in Features

Under the terms of the arrangement, Centerra will fund a strategic alliance programme to explore for new gold projects in central Turkey.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Centerra will have the option to earn to 51% of any designated project area by funding $1.0m for exploration and development within two years of Centerra's election and Stratex will have the right to maintain a 49% interest by funding future exploration and development on a pro rata basis.

Dr Bob Foster, Chief Executive Officer of Stratex, commented: "Over the past three years we have developed an excellent working relationship with Centerra and we relish the opportunity to develop this association further.

"Our respective technical teams have a high degree of mutual respect as well as excellent track records, and this new alliance can only be for the considerable benefit of both companies."

Stratex' share price was unchanged at 4.38p at 08:36 on Tuesday.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.