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AIM-listed gold exploration and development company Stratex has appointed Tim Livesey to the board of the company as CEO with immediate effect, replacing interim CEO Dr Bob Foster – who has subsequently resigned from the board.

Livesey (50) is a geologist and has been involved in the international exploration and mining industry for three decades.

Working on a number of exploration and advanced stage projects through feasibility to development, Livesey has a broad range of experience including roles in senior management, advanced project development, social license to operate, government relations and arbitration.

He has participated in the exploration, study and development of several world-class assets, including the Nkomati nickel mine in South Africa; the Kabanga nickel project in Tanzania; the Jabal Sayid mine in the Kingdom of Saudi Arabia; and Tethyan Copper’s Reko Diq copper-gold project in Pakistan, on which he remains an adviser to Barrick Gold Corporation (through Lelantos Consulting Limited) in regards to ongoing arbitration with the Government of Balochistan and the Government of Pakistan.

Most recently, Livesey was COO at Reservoir Minerals and, following the purchase of Reservoir Minerals by Nevsun Resources in June 2016, he took on the role as MD of their operating company in Serbia, Rakita Exploration, completing some company development and re-alignment and kick-starting the pre-feasibility studies at the Cukaru Peki deposit.

He is currently chairman of Minexia Limited, a mining investment, development and advisory company. Livesey has also co-authored a number of technical papers and regularly presents at international conferences.

Commenting on his appointment Livesey says he is pleased to be joining Stratex.

“In particular I am looking forward to working with the team to enhance the value of our existing portfolio and importantly, to develop some new avenues for exploration. The board and management have steered the company through a difficult year; it is now time for us all to focus on developing some new opportunities for exploration and development success, in what we hope will be a more positive market through 2018/19.”

Livesey will be invaluable in re-establishing Stratex’s profile as a successful exploration and development company focusing on gold and high-value base metals. I would also like to record our appreciation and thanks to Dr Bob Foster for steering the company through a very challenging last few months,” says Stratex chairman Peter Addison.

Corporate strategy

Over the next 6-12 months, the board’s strategy is to maximise shareholder value through the following activities:

  • Fast-track exploration at the Dalafin gold project in Senegal and reduce Stratex’s financial exposure through the conclusion of a joint-venture arrangement to bring in third party funding and additional expertise;
  • Earn-in or acquire interest in new projects where mineralisation has already been identified but where we can add value quickly through focussed exploration, resource definition or expansion and progressive technical and economic studies;
  • Continue to monitor its investments in other companies and support further exploration as appropriate;
  • Continue with the realisation of value from existing lower priority projects which are converting to royalty arrangements.