Canadian mining giant Teck Resources has pulled out of a number of earn-in options connected to projects being developed by exploration group Stratex International in Turkey.
Teck has sold back its options to Stratex for projects at Altunhisar, Basdere, Hasancelebi, Karapinar, Öksüt and Sehitler. The move comes after it passed up its earn-in right to Stratex’s Konya project in March this year.
As part of the deal, Stratex is buying the options back for C$750,000 of its own shares at 2.64p per share.
Stratex said it had enjoyed a good working relationship with Teck and that the agreement was in the best interests for both parties, leaving Stratex to search for new partners to develop the assets.
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