Stratex Share Discussion Threads

[juju44] 27/2/2017 10:39

Charlie , the shareholders dont ask the hard questions to get the answers

[gamesplayer] 27/2/2017 10:39

Juju, where do you think the share price will be in 12 months time? Presumably higher if you have not sold, but how much higher?

[charles clore] 27/2/2017 10:36

Soul - I agree shareholders should be told the stalling point in the Altintepe negotiations. It could be something quite straightforward like the bank balance reaching a certain level, or some other tangible event. Whatever it is, shareholders deserve to know.Juju - it is not always the shareholders fault when serious questions are unanswered. Shareholders do not chair the meeting, the board member does!Steve - did you sell on the news today? I wonder how many detractors sold and how many topped up?

[juju44] 27/2/2017 10:31

This is one sick dog that has missed out on the gold rise and been left behind the progress of other goldies. A pathetic 5 years of withering away. Finger hovering over the sell button

[luminoso] 27/2/2017 10:28

exbiz

Without the cash flow from Altintepe, STI will not be able to advance all those other 'exciting' prospects without a major piece of discounted dilution. So yes, at the moment, with this deadlock in negotiations, STI is pretty much all about Altintepe.

[steve1905] 27/2/2017 10:25

It's easy now to see why the directors had no faith in buying shares. When will that change

[steve1905] 27/2/2017 10:22

Charles, I explained my investment to you a short while ago. It's less now than it was then and considerably less than when it began.
As for 'the cards on the table', we have been given the bare bones - no information on the reasons, the ramifications for Stratex . It was common practice for Bob to follow an important update with an audio interview, will Marcus do that I wonder? Months between updates is a diabolical way to run an AIM company and I hope things will now change.

[juju44] 27/2/2017 10:20

AGM always a damp squib. Investors never have the balls to challenge the management on the real issues

[exbiz] 27/2/2017 10:19

Should be a very lively AGM this year !!

[gamesplayer] 27/2/2017 10:18

I think mediation would be a more likely starting point.

[harry vederci] 27/2/2017 10:18

the bad news is not out of the way at all, and wont wont be until STI get paid what they are due.

If this develops into an arbitration bun fight then forget it, it'll be locked up for years. Anyone looked in on the OXS CHL 'no brainers' !

[blobby] 27/2/2017 10:17

Very frustrating.

Disputes between Stratex and Bahar have been mentioned here many times, but I think this is the first time Stratex have admitted a problem. I suppose in the past they thought they could sort it out and it was not necessary to say anything formally :-(

I'd like to be reassured that Bahar have not received any distribution of net cash either.

Several posters have mentioned "arbitration". Where does this information come from and what are the details?

[exbiz] 27/2/2017 10:16

The bad news is out and after a flurry of panic sellers the over-riding majority of trades this morning thus far have been buys, and some significant ones amongst them. When payments do start to come from Altintepe the reality of the other good news and progress at ThaniStratex in particular will dawn on investors as we become a revenue generating listed company and the only way of investing in ThaniStratex and it's promising prospects where they have seen excellent early results to embolden their stated objective of making +3million oz Au discoveries.

Marcus does; as Steve rightly said; need to et on BRR Media and explain further the ongoing situation.

There should be plenty of news from TS this year though with drilling ongoing at four prospects. That does make this exciting and for those this morning that have said Stratex is no more than Altintepe, I'd say that is a very short sighted and narrow view.

[juju44] 27/2/2017 10:12

the continuing blind optimism here is mind boggling.

[redtrend] 27/2/2017 10:09

If the JV agreement already stipulates disputes will be resolved by arbitration, consent has already been given.

However if JV agreement is based on Turkish law and disputes resolved in Court of Law (Turkish), this could run and run. Even international arbitration would take long time and be extremely costly.

STI's last stated cash position was £2.7m in its interims as of end of June '16. Anyone's guess after 8 more months what is left. I would guess anywhere between £1.5-2m?

And with anything, this isn't purely just a straight forward legal matter and a legal interpretation of the JV Agreement. The lawyers rely on the technical bods for the details and if the JV Agreement is not clear or lacking on the definition of what constitutes capital investment (like the closure costs), what is and is not included in "AISC" to agree on "net cash", this could become a complicated case.

[luminoso] 27/2/2017 10:03

The only good news that will bounce the price is the resolution of the dispute in Stratex's favour. That will be some time in coming, if it comes at all. the drop is not overdone. It reflects the reality of Stratex's situation. I am man enough to admit that I got it wrong thinking that a sale of altintepe was the reason for the silence. As Steve says, no news is almost always bad news, when it comes, on AIM.

[soulsauce] 27/2/2017 10:00

It might have been helpful for Marcus to have given a reason as to why Bahar are not coughing up, what is the stalling point?

[romeike] 27/2/2017 09:57

After a year of failed negotiations I cannot see how this can possibly be amicable. We all knew something was not right but it feels like Stratex went out of its way to mislead our impression of the state of the relationship.

[goldenshare888] 27/2/2017 09:57

I agree with you Charles and that is why I have taken advantage of the drop and bought a load more.

I still see 5p - 10p range possible this year.

[luminoso] 27/2/2017 09:54

Of course he isn't going to say the negotiations have been unfriendly but I think we can assume that they have been more than just frustrating as they have been going on for months and involve a considerable sum of money, and the success of this little company depends entirely on that money. Comments were made on here that all was well with the Bahar JV, not just 'negotiations are ongoing '. Did Marcus mislead anyone on that, then ?

[charles clore] 27/2/2017 09:51

Steve - it sounds as if, like me, you have a big stake in the company. How do you feel now that the cards have been laid out on the table? I was initially disappointed with the Altintepe side of things but I can now see that the bad news is out of the way and we can look forward to a stream of developments this year. Production was a tad less than I was hoping for but I noted they had stripped out the lower grade ore so that explains the apparent drop in production for h2 compared to h1. At the end of June 2016 h1 revenue was iirc $32.74m and demonstrates what is possible to achieve - and that was using the less efficient clay circuit. I think this morning's drop was overdone and hope the price will step back up in the near future. It will certainly bounce strongly on any positive news imho.

[georgesorrow] 27/2/2017 09:37

Tadtech: "I would also assume that the other partner (Bahar) has not received any cash either so the matter is not, as some try to suggest, an Anglo/Turk 'conflict'"

Bahar has been receiving $450 a tonne mining revenue, which I suspect is probably now a highly inflated remuneration given the collapse in the Lira against the dollar.

Bahar could easily have received circa $20m so far and may be quite happy with the inflated mining income it is receiving.

[tadtech] 27/2/2017 09:31

I took the time to visit the two Stratex presentations and relayed what I was told. Everyone was happy with that at the time but of course now the share price has not hit 3p on this long awaited news announcement there are derisory comments from the usual suspects.

I stated the mine was performing well, it is.

I stated they were still in negotiations with the JV partner, they still are and there is no reference about these negotiations not being amicable albeit frustrating.

I referred to their other projects as being positive which, in general, they have been.

I suggested that they are considering options on their entire portfolio which seems to be the case and implied the new CEO was busy meeting new investors and industry professionals which, although not stated in this RNS, I still believe to be true as he told me as such in open Q&A.

Maybe, before not too long, the focus of this company may divert from Altintepe, Turkey, to other more significant events, time will tell.

I still remain upbeat on the basis that the new CEO has proven abilities, was probably brought in by the major shareholders, which include one of the largest mining companies in the world. Worth remembering!

[luminoso] 27/2/2017 09:28

Spot on Steve.

[steve1905] 27/2/2017 09:22

I believe, easy to say in retrospect, it was blatant that something wasn't right. Any resolution of the cash payment issue would surely have been immediately notifiable - so by definition, no news was not good news. We have ignored the warning signs and not least, Stratex's almost legendary ability to disappoint.