Stratex International

Published : July 28th, 2016

Goldstone Financing and Director Change

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Keywords :   Ghana | Gold Mine | Turkey |

Goldstone Financing and Director Change

Released 10:01 28-July-2016

Stratex International Plc / Index: AIM / Epic: STI / Sector: Mining

Stratex International Plc

('Stratex' or 'the Company')

Goldstone Announces £1 million Financing and Director Change

Stratex International Plc, the AIM-quoted exploration and development company focused on gold and base metals in West Africa and Turkey, where it holds a significant interest in a producing gold mine, reports that Goldstone Resources Limited ('Goldstone'; AIM: GRL) has conditionally raised £1 million. Stratex has maintained its 33.45% interest in Goldstone through a combination of direct funding and settlement of a US$250,000 drawdown by Goldstone from the short-term loan facility provided by the Company (announcement dated 7 June 2016).

In addition to the loan settlement, Stratex has subscribed for 5,745,464 new ordinary shares ('Ordinary Shares') at a price of 2.5p each (the 'Placing Price'). A warrant to subscribe for one new Ordinary Share at a price of 5.0p per share, being a 100 per cent premium to the Placing Price, will be attached to each new Ordinary Share issued pursuant to the financing (the 'Warrants'). The Warrants will vest immediately on issue and are valid for 24 months from the date of Admission. Stratex has undertaken that it will not exercise the Warrants issued to it, if such exercise would result in an obligation to make an offer under Rule 9 of the City Code on Takeovers and Mergers.

Funds will primarily be used to advance Goldstone's principal project, the 602,000 oz Homase-Akrokerri gold project in Ghana, through the completion of up to 2,000 meters of RC (Reverse Circulation) drilling.

Stratex Chairman Christopher Hall has also advised Goldstone that, after almost two years, he will step down from the Goldstone Board following conclusion of its AGM later today. Neil Gardyne, Goldstone's Independent Non-Executive Director, will succeed Christopher as Non-Executive Chairman.

The full text of the announcement by Goldstone can be found at http://www.goldstoneresources.com/investors/news-releases.html.

* * ENDS * *

For further information please visit www.stratexinternational.com, email[email protected], or contact:

Stratex International Plc

Tel: +44 (0)20 7830 9650

Bob Foster / Christopher Hall / Claire Bay

Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

Philip Secrett / Jen Clarke / Daniel Bush

Hannam & Partners

Tel: +44 (0)20 7907 8500

Neil Passmore

Notes to Editors:

Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company achieved first gold pour at its 45%-owned Altıntepe gold mine in Turkey in November 2015 and recently sold its 1% Net Smelter Returns royalty in the Öksüt gold project for US$4.5 million. It also owns 30% of a copper-gold project at feasibility stage. With its current cash position, projected cash returns and no debt, the Company is well-placed to advance its existing exploration programmes and is also actively seeking to acquire advanced projects that are at the drill-ready stage or even have identified resources.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Ghana | Turkey | All
Gold and Silver Prices for these countries : Ghana | Turkey | All

Stratex International

EXPLORATION STAGE
CODE : STI.L
ISIN : GB00B0T29327
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Stratex is an exploration gold and copper company based in United kingdom.

Stratex holds various exploration projects in Ethiopia and in Turkey.

Its main exploration properties are KONYA, ÖKSÜT, HASANÇELEBI, INLICE, ALTINTEPE, ALTUNHISAR and DOGANBEY in Turkey and ABIADI in Ethiopia.

Stratex is listed in United Kingdom. Its market capitalisation is GBX 420.6 millions as of today (US$ 472.7 millions, € 391.5 millions).

Its stock quote reached its highest recent level on October 12, 2007 at GBX 9.91, and its lowest recent point on March 20, 2020 at GBX 0.17.

Stratex has 467 311 276 shares outstanding.

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Corporate Presentations of Stratex International
9/30/2009Hanson Westhouse: Teck Backs Hasançelebi
9/15/2009Chasing King Solomon's Mines
Annual reports of Stratex International
2007 Annual report
Financings of Stratex International
7/28/2016Goldstone Announces £1 million Financing and Director Change
Nominations of Stratex International
5/6/2016Tembo financing and change of director
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7/28/2010(Öksüt)Continues to deliver – 80.30 metres @ 2.22 g/t Au
6/7/2010(Megenta)Extends Megenta Hot Spring Gold System in Ethiopia
5/24/2010(Megenta)Defines Extensive Gold System in Ethiopia at Megenta
5/17/2010(Öksüt)2010 exploration programme commences at the Öksüt gold proje...
11/4/2009(Altintepe)Update on Inlice and Altintepe Gold Projects 4th November 20...
9/28/2009(Hasançelebi)options Hasancelebi Prospect in Turkey
8/17/2009(Öksüt)Partner on Öksüt Project in Turkey
5/19/2009(Öksüt)New Results Emphasise Potential of Öksüt, Hasançelebi, and A...
1/26/2009(Öksüt)Outstanding Potential
1/26/2009(Öksüt)Exceptional drill intersection at Öksüt
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4/9/2008(Altintepe)delivers further positive drill results from Altintepe
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7/18/2016Operations in Turkey
7/4/2016Appointment of Corporate Broker
6/29/2016Goldstone Announces Final Results
6/7/2016Revision of Goldstone Loan Agreement
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6/6/2016Dalafin Update
5/3/2016AGM Statement
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4/18/2016Chief Executive Officer Interviews
4/18/2016Altintepe Production Update
4/12/2016Stratex Provides Goldstone with Short-term Loan
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1/29/2016Appointment of Non-Executive Director
12/22/2015Sale of Oksut Royalty for US$4.5 M
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7/31/2013audio interview with BRR Media
6/25/2013Reuters TV interview
5/17/2013News Release
5/10/2013International Business Times article
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4/9/2013Investor Notice
3/21/2013Audio Interview with BRR Media - 21st March 2013
3/21/2013News Release
3/15/2013presenting at Shares MRQ Investor Evening - London 21 March
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2/7/2012News Release
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6/9/2010Expands Epithermal Gold Licence Area in the Afar Depression ...
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11/24/2009Large gold-mineralized area defined at Shehagne in Northern ...
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3/11/2009Final Results
1/15/2009Holdings in Company
12/10/2008Director Shareholding
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9/15/2008Share Price Weakness Obscures A Fundamentally Strong Positio...
7/4/2008Approaches 1 Million oz Total Gold Resource
4/29/2008Annual General Meeting Statement
4/14/2008LETTER TO SHAREHOLDERS
4/3/2008Notice of AGM
4/1/2008Regulatory Announcement
3/10/2008Final Results
2/29/2008Directorship Changes
2/27/2008Holdings in Company
2/26/2008Holdings in the Company 26th Feb 08
2/14/2008New Non-Exec Director 14th Feb 2008
2/13/2008Holdings in Company 13th Jan 2008
11/14/2007Regulatory announcement
10/23/2007Discovers New Gold Zone at Altintepe Project in Turkey
10/18/2007Holdings in Company
10/12/2007NOTIFICATION OF MAJOR INTERESTS IN SHARES
10/11/2007Intercepts Porphyry Copper Mineralisation at Muratdere
10/1/2007Ammended press release
8/28/2007Latest Developments at Inlice Gold project
6/27/2007Issue of Equity
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5/14/2007New Non-Executive Director
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