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Stratex appoints new CEO

Stratex International (LN:STI) has appointed Tim Livesey as its new CEO, effective March 1.
Stratex appoints new CEO Stratex appoints new CEO Stratex appoints new CEO Stratex appoints new CEO Stratex appoints new CEO

Stratex will be adopting a revised policy to ensure all new opportunities are measured by strict financial criteria

Staff reporter

He has 28 years of experience in gold and base metals, particularly in Africa, Europe and Asia, advancing projects across the whole development chain. 

His CV includes the roles of exploration manager for Barrick Gold (CN:ABX), CEO of Tethyan Copper Company and COO of Reservoir Minerals, which was sold to Nevsun Resources (CN:NSU) in 2016.

Upon Livesey's appointment, interim CEO Dr Bob Foster will stand down from the board and continue to support the company as a consultant.

The former CEO Marcus Engelbrecht was turfed out when the proposed merger with Crusader Resources (AU:CAS) was terminated.

In keeping with this change, the company completed a review of its existing assets and is now looking for new projects in Africa and Europe.

Foster said the company would be adopting a new policy to ensure that all opportunities are measured by strict financial criteria.

"Following last year's requisition, it has been necessary to reassess the company from the bottom up in order to provide a stable platform on which to grow", he said.

Stratex hopes to complete joint venture negotiations for its 85%-owned Dalafin gold project in Senegal during the March quarter to reduce its financial exposure and bring in third-party funding and additional expertise.  

It aims to fast track exploration at Dalafin over the next year, as well as earn-in or acquire interest in new projects.

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