LON:ORR | Stratex - Heads Up

15th Jul '11 by Cuthbert C

4 comments 3439 reads

No time to write in length today - taking family to Harry Potter in a few minutes and that's much too important to miss.

Just thought I'd flag up the firmness in Stratex recently which seems to have no obvious drivers in terms of RNS statements or volume.

I find this firmness quite interesting in view of recent developments
1) Anglo Ashanti taking a direct stake in STI
2) Centamin bidding for Sheba who are Stratex's JV partner

Is it random movement or something linked to the above?

Just asking.

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About the Author

Cuthbert C

Premium Member

4 comments

ryanandbethan

15th Jul '11

I have been building a stake in STI for a while now and think that the recent firmness in the SP is down to Kairos slowing down their selling as I think they have been forced sellers for a while. This coupled with the whole of the Ethiopia region coming onto more peoples radars as some of the majors try to get in at the start.

The CEY bid for SHE is interesting as STI exercised their warrants in a RNS today.
http://www.investegate.co.uk/Article.aspx?id=20110715102326M1036

ourmanindubai

16th Jul '11

I bought in @8p in June and topped up @8.25p last week. These guys definitely look well prepared in a number of areas. I'm confident they will climb a lot higher. They're greatly undervalued and should be a good 25-30% higher soon.

Interesting potentials - http://www.stratexinternational.com/operations/resource-statement.aspx

Anyone else got anymore info to share?

ryanandbethan

10th Dec '11

Hi,
I topped up twice this week at 6.7p and this is now my larget holding. I'm waiting for news on Inlince where production should commence in H2 of 2012.

Two recent news items that warrant a read at least

New partner Bahar for altintepe project

The Agreement substantially reduces financial risk at Altintepe for Stratex, with Bahar bearing 100% of all costs up to production, including capital expenditures

http://www.investegate.co.uk/Article.aspx?id=201112060915034223T

and further positive news at Oksut with Ortaçam North now being identified as a new Major Zone of Gold Mineralisation.

http://www.investegate.co.uk/Article.aspx?id=201111170700182519S

New independent resource estimate anticipated early 2012 - expected to significantly increase previously reported project resource of 317,256 oz Au

JV partner, Centerra now has a 50% interest in the Project having spent US$3 million - Centerra has an option for a period of 90 days to elect to earn an additional 20% interest in the project by funding an additional $3 million of exploration expenditures

ryanandbethan

18th Feb '12

I posted on the fool about STI which is my 2012 NFSC pick.

Two weeks ago STI announced a drilling update from their Oksut gold project in Turkey.

http://www.investegate.co.uk/Article.aspx?id=201202080900020...

Last week they announced a 230% JORC increase in the Indicated and Inferred classifications on the project

http://www.investegate.co.uk/Article.aspx?id=201202150730024...

From this RNS David Hall, Executive Director for East Africa says, "These first samples of outcrop at the Black Water zone have returned bonanza grades, i.e. greater than 30 grams per tonne gold, and wide zones of gold mineralisation up to 25 metres in width, further highlighting the potential for major multiple gold mineralisation at this exciting discovery where four key zones have been identified to date. This fact is of considerable significance for the economic potential of all the discoveries in Stratex's newly defined Afar Epithermal Province.

http://www.investegate.co.uk/Article.aspx?id=201105040700178...

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Stratex - heads up

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Cuthbert C

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