(MENAFN- ProactiveInvestors) AIM miner () says 2015 holds great "promise" as it moves towards a sustainable income stream.
This year has seen the group progress on multiple fronts and at the Altintepe gold project in Turkey its 45% stake is fully funded to production.
Construction of the mine is likely to be completed in the first quarter of 2015 and the firm expects income to start next year.
There is also a strong indication that Centerra will bring the Öksüt mine into production in 2016 which would see the start of the firm'scapped 1% royalty.
At Muratdere the copper gold project in Turkey the feasibility study is imminent while drilling results from Dalafin in Senegal are expected in the first quarter of 2015.
Here Stratex has an 85% interest. The project has returned encouraging results and the firm reckons that continuing carefully focused investment at the site is justified.
Chairman Christopher Hall commented: "We believe we have invested prudently to accelerate progress faster than with traditional exploration and we are mindful of the need to minimise cash outflow pending the start of income.
"However we do not think the market would be forgiving if we battened down the hatches and did nothing.
"There are many and varied good-value opportunities out there. The key will be to survive to develop and to build the foundations for strong growth when the market improves which it will eventually.
"We look forward to the coming year with relatively strong finances good prospects experienced management and the determination to succeed.”
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.