CAPITAL MARKETS

Stratex becomes Oriole Resources

STI becomes ORR, with new name to reflect Africa focus

Staff reporter
 All-a-flutter: Don't worry Stratex shareholders, its new name comes from the Western Oriole, not the American version. PICTURE: Francesco Veronesi

All-a-flutter: Don't worry Stratex shareholders, its new name comes from the Western Oriole, not the American version. PICTURE: Francesco Veronesi

It joins fellow namechanger Bluejay Mining on AIM as taking its name from both a bird and baseball team. 

Chairman John McGloin said the change had come after significant work remaking the actual company. 

"I am delighted to announce the approval of the company's rebranding to Oriole Resources PLC, an important step as we continue the repositioning of the company that was started eight months ago," he said. 

"We now look forward to progressing with a new board and management team, and a renewed strategic focus on Africa and Europe."

CEO Tim Livesey took over in March, CFO Bob Smeeton joined in June and new chairman McGloin took the role this week, replacing Peter Addison. 

David Pelham also joined as a non-executive director. 

All this change comes as the anniversary approaches for the failed merger with Crusader Resources, which former CEO Marcus Engelbrecht now leads. 

The new name will not be carried down to 30%-owned partner company Thani Stratex Resources. 

Stratex will trade as Oriole from September, thankfully replacing its STI ticker with ORR. 

 

 

 

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