John Meyer of SP Angel this morning comments on Avocet Mining, Central Asian Metals, First Quantum Minerals, Gem Diamonds, Rambler Metals, Goldstone Resources and Stratex as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Stratex International (STI) expects to end 2014 on a strong note. The London-based AIM company, with gold, copper and molybdenum interests in Turkey and East and West Africa, is taking control of fellow AIM counter, the West African gold play Goldstone Resources (GRL), as it waits for a feasibility study before the end of the year on its porphyry copper, gold and molybdenum joint venture at Muratdere in Turkey’s Bilecik province.
AIM-quoted Stratex International (STI) may be trading at only two-thirds of its 5p stock market float price of eight years ago, but the company sounds undeterred as it prepares for key developments at gold and base metal projects in Africa and Turkey. With backers including major mining groups AngloGold Ashanti and Teck Resources, Stratex says it is looking out for new deals and awaiting imminent drilling results from its 75 per cent-owned Dalafin gold project in the West African state of Senegal. Preliminary work showed grades ranging from a low 1.51 grams of gold per tonne of ore to 10.47 grams a tonne.
These are busy times for Stratex International (STI), an AIM company backed by AngloGold Ashanti and boasting a spread of gold and other ventures in Turkey and Africa. Provided the Turkish authorities come across with a forestry permit, expected any day now, chief executive Bob Foster expects gold production to start by the end of this year at Turkish gold project Altintepe.
