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Stratex sells stake in Goldstone

17th October 2017

By: Anine Kilian

Contributing Editor Online

     

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JOHANNESBURG (miningweekly.com) – Aim-listed gold exploration and development company Stratex has sold its 13.7% stake in Goldstone Resources to institutional investors at a price of 1.6p a share for a total cash consideration of £0.55-million.

“Following the dilution of Stratex's shareholding in Goldstone, resulting from a recent capital raise, the company's ownership has dropped below what is considered meaningful,” the company said in a statement on Tuesday.

The Goldstone investment was equity-accounted with a carrying value of £0.95-million, as at June 30.

For the year ended December 31, 2016, Stratex recognised a loss of £0.79-million, before tax and non-controlling interests, in respect of Goldstone's operations.

Meanwhile, the company noted that nonexecutive director Emma Priestley has resigned.

Edited by Samantha Herbst
Creamer Media Deputy Editor

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