Home / Business / Stratex International Plc to invest about CFA1 billion in BEIG3’s Bibémi and Wapouzé gold mining project

Stratex International Plc to invest about CFA1 billion in BEIG3’s Bibémi and Wapouzé gold mining project

Business in Cameroon |

This day June 12, 2018, Stratex International Plc announces that it has concluded a conditional option agreement with  Bureau d’études et d’investigations géologico-minières, géotechniques et géophysiques Sarl (BEIG3) in the framework of its gold mining project in Bibémi and Wapouzé, in North Cameroon.

Thanks to fundraising operations to collect between CFA745 million (£1 million) and CFA931.6 million (£1.25 million), the British mining company will help BEIG3 in its exploration project.

By providing the fund, Stratex International Plc will acquire 90% of the Bibémi and Wapouzé projects after a feasibility study.

We are delighted to have entered into this option agreement with BEIG3”, said Tim Livesey, Chief Executive of Stratex. “BEIG3 formerly held the projects in a joint venture with TSX-quoted Reservoir Minerals Inc, of which I was COO until 2016 when it was sold to Nevsun, but these have recently been returned 100% to BEIG3 and so we look forward to picking-up where Reservoir left off”, he added.

Let’s remind that on November 18, 2014, while it was active on the Bibémi project, Reservoir Minerals announced that the sampling conducted during the dry season suggest high-grade mineralization of about 10.95 grams per tons on 3.6 meters starting from 2.6 to 6.2 meters.

At the time, Simon Ingram, the then chief executive of Reservoir Minerals, indicated that such result was an indication of the excellent mining potential of these mines starting at about 19 kilometers from ground level.

He also revealed that following the panning, another mine was discovered 30 km Southwest of the Bibémi project.

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4 comments

  1. there are no two ways for a country to take control of its natural resources.first cultivating the surfface,mostly concentrating on short cercle highly lucreative crops like soya beans,sunflower,corn,tetoh,often called irish potatoes in this tongue.with this crops in the farm,we move to the next step,creating small micro industries to do transformation to finished and cemi finished products.then comes the third stage commercialization.it is with capital accumulated from this channel of production that highly technical minning equipement will be imported to facilitate the extraction of natural resources like gold.taking complete control of this sector,and creating continental african gold extration companies tied to village banks.

  2. instead of this,we want to start by exploiting natural resources with inadequate equipement.the result is that people often lose thier lives in gold minds dug with hands.this approach is explained by the fact many people do not want to go to the farm.but where does this attitude come from?it is the result of the current system of mental destruction called education,naively copied from british and french invaders.in this system,agriculture,industry,sciences,and technical training which makes the base of all solid economies is devalorized for futile subjects that valorise the propagation of ignorance like,religion,political sciences,history;etc.this is how we ended up with docile pastors and imams in our villages instead of agronomist,industrialist,and engineers.

    • our future african school of industry where instruction will be done in an african language will set the standard of what future education in africa should be.the simple fact of teaching african children in an invading language alienates them culturally.creating easily manipulated un patriotic adults of tomorrow.in oder to be registered in our schools, all the names of a child must be african,paying respect first to our ancestors and creating a culturally harmonuous foundation for future economic cooperation.in our schools,children will learn by doing.capital will be provided by the school for children to produce and commercilise while learning how to manage money deligently.children must understand that money is for productive investement,not buying flashy cars like naive diasporans.kiki

  3. You can sellout lrc to the Brits no one cares,but hands off Ambazonias natural resources.we will sabotage and make sure that no drilling is carried out on our land without the express permission of Amba landers.
    Lrc should better call off the gas deal they just negotiated with the Brits.it will not take place on our land,not anymore.