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

Stratex International Plc

('Stratex' or 'the Company')

Appointment of Non-Executive Director

Stratex International Plc, the AIM-quoted exploration and development company with a significant share in a producing gold mine, is pleased to announce that is has appointed Chris Worcester to its Board as an Independent Non-Executive Director, with effect from 1 February 2016.

Chris began his City career in 1993 at Barclays de Zoete Wedd, where he worked in the metals and mining project finance team. In 2000, he joined the Royal Bank of Scotland as Director and Head of Financial Modelling and Analysis, leaving in 2002 to join WestLB Capital Markets, the international investment banking division of WestLB, where he established and managed the global metals and mining team until 2007. Since then Chris has been actively involved in securing funding and investment for resource companies through private, specialist corporate finance company Stone Arch Financial and, more recently, Green Road Capital. For more than a decade Chris has lectured regularly on corporate valuation as part of the MSc in Metals and Energy Finance programme at the Imperial College, London. He has a BSc in Chemistry and an MBA in Finance.

Christopher Hall, Stratex Chairman, said: “Stratex is very pleased to welcome Chris to the board as a second independent Non-Executive Director. He brings a wealth of analysis, evaluation, corporate finance and funding experience and we expect him to make a valuable contribution. We have now rebuilt the board to six, which it has been historically, and the appointment of a second independent director improves our adherence to corporate governance guidelines.

“Chris’s specific skills and experience will assist the board in its consideration of potential acquisitions, or mergers, which is where a successful, producing company such as Stratex, with a healthy cash balance, can currently expect to find better value and market recognition than with grass roots exploration.”

Christopher Anthony Worcester (aged 54) is, or has been, a director or partner of the following companies or partnerships during the past five years:

There is no further information required to be disclosed in respect of the above appointment pursuant to Schedule 2 (g) of the AIM Rules for Companies. 

As part of Chris's remuneration package, in due course, the Board intends to issue to him options over 1,500,000 ordinary shares in the Company on terms to be agreed.

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

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.