Stratex Share Discussion Threads

[danieldruff2] 05/1/2017 13:22

a) mentioning sales without knowing the costs means little
b) suspect it'll be in the range 30-35k
c) if it does it will be sulphides which are more expensive to extract
d) I doubt the cash they receive will exceed their yearly costs by much until they move to 45%

The wildcards are Thani and Goldstone. What will Stratex do if Thani floats. Will they sell off their stake, or will they support it financially going forwards. We are close to Goldstone results. The irony is that the better those results are, the more Stratex may end up shelling out proving up the resource, unless they try to sell that as well. Dalafin worthless IMO.

[charles clore] 05/1/2017 13:05

If I were to show you a company with the following:
a) a 45% share in a gold mine with sales of >£20m a year - unconfirmed but very likely
b) that mine had just produced c.40k oz in its maiden year despite initial teething problems - unconfirmed but very likely
c) had at least another 6 years of production ahead of it - fact
d) the company showed an annual profit of say, £2m - possible
e) with a market cap under £9m - fact

Some unconfirmed in the above at the moment - but if it was all true, would you be interested?
And what multiplier do you think the market would apply if such an announcement was made?

[charles clore] 05/1/2017 10:30

blobby - I completely agree with you the incoming CEO should either honour existing promises or issue a change of policy RNS. But not keep shareholders waiting in the dark with no information.

[blobby] 05/1/2017 10:07

Charles,

OK I agree not "a selected few". Perhaps I should have said "the privileged few who have time, location and resources to get to the presentations."

To be clear, I'm neither in favour of excessive Stratex resources being applied to answering phone calls or e-mails from individual investors, nor excessive amounts of time at presentations and conferences. I'd rather the company update everyone equally with sensible updates through the website or RNS. And I'd like the company to keep to its promises so if it says it will issue quarterly updates it should jolly well do so until it says otherwise and not just stop in silence.

[charles clore] 05/1/2017 09:52

juju - I agree with you it isn't good enough - for a listed company which Bahar is not. There is clearly a difference in the way the 2 companies operate and a compromise needs to be made that accommodates both. Perhaps that is one of the things being discussed?

blobby - the 'selected few' as you put it, are those people who have gone out of their way at their own expense to attend shareholder functions and make contact with the CEO and then very generously shared their information with us. I wouldn't say those people were in any way 'selected'. We are now in a new era. No longer can we pick up the phone and chat to Bob or email him and get a reply within a day. Different CEO with a different way of working now. Also, I believe NOMADS have lately been advising their clients against private email and phone calls with individual shareholders.

[blobby] 05/1/2017 09:51

SK,

I don't buy this:

"Quite sensibly he is holding back on updating the market until those discussions have concluded."

There has just been complete silence. No one in the company replying to e-mails. Not even a "thank you for you e-mail we will update the market in due course". Not even a picture of the CEO on the website!

Marcus has been talking to a selected few at presentations but nothing to the rest of us.

[juju44] 05/1/2017 09:04

Must be a lot to discuss. They have been at it for 4 months.
We own part of a mine that has been producing for over a year but we are not allowed to know what , if anything , it has produced. You couldnt make it up

[shortarm] 05/1/2017 09:00

There's at least been a bit of interest the last couple of days...

[sicilian_kan] 05/1/2017 08:26

Marcus clearly has had a lot to discuss with Altintepe. Quite sensibly he is holding back on updating the market until those discussions have concluded. This time it is a waiting game for the correct information, rather than being an "Is Bob talking rubbish again" game.

[charles clore] 04/1/2017 22:52

Clan - 13227 spot on. Please try and keep it together for just a little longer.

[corguv] 04/1/2017 21:44

During the run up to this years final results just perhaps ?

[tadtech] 04/1/2017 21:26

Just wait for the news, on multiple fronts. When it comes :-)

[corguv] 04/1/2017 21:22

Frustrated and even angry, yet hopeful that Marcus will bring change for the better ?

[greedfear] 04/1/2017 21:13

If they were idiots and yet able to steal our money than what are we? Lol.

[juju44] 04/1/2017 19:11

The whole bunch were a load of idiots who stole and squandered our money

[corguv] 04/1/2017 18:36

Agreed Novi Christopher Hall was even less use and a PR disaster as non exec Chairman.

[novicetrade68] 04/1/2017 18:30

Sincerely hope so. Got the impression Christopher to be even of less use than Bob, at least Bob seemed to have some good relations with Centerra.

[corguv] 04/1/2017 18:07

Bob was a member of the Jolly Geo Club no doubt but unfortunately the drilling spending spree produced as many holes in parts of the Afar as a Swiss Cheese with no better result exampled by Black Rock drilling capitalised at £5million.

Marcus on the other hand has a proven record of managerial, financial and mining success.

[charles clore] 04/1/2017 14:50

5huu - how very true!

[novicetrade68] 04/1/2017 13:33

Is it not a 324k buy and a 334k sell ? Probably a bull and bear !

[shortarm] 04/1/2017 13:27

So, what are the two 324k trades then? Surely too far apart to be bed and is a or whatever?

[5huu] 04/1/2017 12:56

You missed a key word CC - sit tight and "HOPE"Like we all are - hoping that the new CEO can sort the mess out that the previous board left behind and finally deliver some value for long suffering shareholders.And HOPE all the stuff you referred to as "negative tripe" doesn't come back to bite you. Especially after deciding this is your main focus of investment amongst Turkish businesses.

[charles clore] 04/1/2017 12:30

steve - I agree that the closure costs oversight may have been one of Bob's biggest negotiating blunders and I think it was probably the main reason why he got early retirement before his dream project reached the cash delivery point. That would have allowed him to go out in grand style with a gleaming history and a golden handshake - but alas.... With his area of expertise in geology and drilling he was pretty good as an explorer CEO - but he just wasn't up to the job of managing a minority jv partnership in a new mining venture from scratch - and the major shareholders knew it. So they wheeled in Marcus who appears to have the right qualifications for the job... but he has quite a bit of repair work to do and in these situations you don't know what needs to be done until you have done a complete assessment. If I was Marcus I would not stick my head above the parapet and shout about things until I was sure I could deliver. He is likely to be reporting to major shareholders in a more encouraging way as I have not seen any large exodus that might suggest otherwise.

So - my plan is to sit tight. The end of year report should be very interesting and, if I am right, could be well worth the wait.

[greedfear] 04/1/2017 11:57

It's all just talk.

Interims 11-8-2016:

"- Stage I exploration and reserve drilling at the Extension Ridge zone is nearing completion, with 44 holes completed for 4,033 metres at end-June;

- Construction of Phase II leach pad is underway with completion anticipated during November 2016; and

- Assessment of longer-term life-of-mine (beyond Phase 1) production planning continues."


Stage I (...) nearing completion. Almost 5 months later now. Any updates?
Construction leach pad: november has passed?
Assesment (...) continues. What would be a reasonable time frame here (as this is linked to "deferred" cash distributions imo)?


Not about being negative, just being realistic.

[steve1905] 04/1/2017 11:56

Charles, quite a few posters have contacted the CEO, it appears they no longer answer share holders concerns.
We could all guild the Lille, but the fact remains - this Company have failed to update the market on ongoing production. They've put out figures, unofficially, that suggest a slow down but have remained tight lipped on any reason. Is it because they expect a halt in production during the winter period? Instead we have posters who would rather assume, that due to a nod and wink, we are still on target for 40k Oz's. As for 'tripe' how about a Company in Gold mining who fail to account for closure costs only for them to be settled retrospectively whilst over a barrel