Stratex Share Discussion Threads

[gamesplayer] 27/2/2017 16:45

What happens to the share price will in part depend on whether more info is provided in the coming days - either as PR with Marcus or via the year end RNS.

[greedfear] 27/2/2017 16:42

No, it's not a disaster, frankly I think it held up pretty well.
Still think we're going to see 1.1p or so though.

[greedfear] 27/2/2017 16:41

When was a STI press release ever clear? At first I thought it was just me, my lack of knowledge of the English language. Now I know better. It's STI writing riddles, raising more questions than giving answers. It's not (just) my own stupidity it's STI's. It's STI's. Hm.

[romeike] 27/2/2017 16:36

The HOA must have been followed by signing of a parent jv contract or else Stratex would never have released the licenses. I am not sure that Stratex would post the entire JV contract on their website as it might contain commercially sensitive information.

The 'buy price' before the bell was about 1.8p, so still down on yesterday, but not a disaster.

[charles clore] 27/2/2017 16:28

I always say there's nothing like a mixed RNS to transfer stock from weak holders to willing buyers. The MMs can't get it from anywhere else, trading has been minute over the past few months.

[jrangy01] 27/2/2017 16:26

Does anyone know if this is a JV or an agreement?

Rumour is there is no actual signed agreement, the press release is not clear.

"current agreement" and contract can be very different things. the web page talks about a JV.

In the web under jv's, partnerships etc.

it says On 6th Dec 2011, the company signed a HOA, it then does not say it signed anything else? Why not?

[tightfist] 27/2/2017 16:26

I would be surprised if Bahar do not eventually Bid for our 45%, the latest exploration could be just helping them in valuation. But they will hang Marcus out to dry for several months yet? Bahar can speculate we will become strapped for cash, and our alternative recourse to the law would proceed very slowly.......

[goldenshare888] 27/2/2017 16:22

Oooh, looks like it could be 1.6p/1.85p !

[goldenshare888] 27/2/2017 16:15

Or Bahar playing hard ball as a pre takeout offer for our share?

I would not be surprised to see an offer for our share in March, we must be an irritant to them!

[tightfist] 27/2/2017 16:07

The wording in this morning's RNS seem curious. No mention of a "JV" but instead a "project vehicle" and another poster has already noted the description of the future cash flow.Maybe I am reading too much into this but it does seem a bit odd; maybe there are quirks in the contract, or assumptions being made that are wide of the mark?

[romeike] 27/2/2017 16:03

At least Goldstone bounced back quickly

[luminoso] 27/2/2017 15:58

Good clarification of the JV position, Charles.

[charles clore] 27/2/2017 15:57

By my reckoning basd on what I can see the MMs are about 4m shares short so there could either be a very large delayed sell at the end of the day - or they will have to start raising the bid to attract sellers in order to balance their books.

[charles clore] 27/2/2017 15:28

Going back to 2011 Stratex and Bahar worked together delineating resources and building a mine at Altintepe. Because Bahar put money up front they became the major partner and probably led all the negotiations. Stratex took a back seat because they were the junior partner and would be getting a lot of bang for their buck, in the latter years, basically for no cost. The mine, once in production, started paying Bahar for their ore extraction and processing costs so now they want the $39m construction costs before they class the operation as cash flow positive. Fair enough from their perspective and in many ways quite logical, but that is not how it was put across to shareholders from day one. I understood that Bahar would be receiving their $39m from their initial 80% share of the surplus cash coming into AM and Stratex would receive 20%. When that was repaid Bahar's share would change to 55%. Now that the mine is in operation and performing very nicely on low grade ore, Bahar may be thinking they would be better off without Stratex as a partner. They may even be holding back from processing higher grade ore to slow down the repayment process. I don't know, it is a possibility but this is the kind of detail we should be getting from Stratex. I hope Marcus is the man to get it because in that department I am afraid Bob failed us.

[goldenshare888] 27/2/2017 15:25

1.6p/1.7p & back to 2p plus in March I reckon.

Will possibly turn out to be a storm in a teacup!

Holding and bought the dip.

:))

[goldenshare888] 27/2/2017 15:25

1.6p/1.7p & back to 2p plus in March I reckon.

Will possibly turn out to be a storm in a teacup!

Holding and bought the dip.

:))

[gamesplayer] 27/2/2017 15:10

Will be interesting to see where this ends the day.

[danieldruff2] 27/2/2017 14:28

Agree charlie, sounds the most likely explanation but STI need to spell that out, at the moment they are spreading FUD

[charlieeee] 27/2/2017 14:20

Well, playing "RNS cluedo", it looks to me as if "net" is causing the problem.

The fact that the JV has a strong cash position, suggests that the Turkish share is also still in the J/V pot.

My guess is that Bahar want to use the cash for expanding the project: drilling, phase 2 etc. and STI want to start taking cash with the calculation being strictly on the cash flow from the current project.

In the long run, it would not affect STI's take, but of course, it does affect STI's own short term cash flow position.

Unless the agreement is badly drawn, I cannot see either side wanting to waste money on litigation.

[bigglesbingham] 27/2/2017 14:09

Well I'm in for a bit more now. Will sit and wait for it to pan out. Point is there is too much to lose for STI not to invoke all means necessary to resolve if this costs few hundred grand in legals and small cash raise to stay afloat it's still cheap once resolved. Chances of going bust is the risk here which I feel is slim.

[5huu] 27/2/2017 14:08

That was my thinking Exbiz. There is also the cost associated with the driling, which surely Stratex wouldn't have taken lightly given their financial situation.

I think it was you earlier Exbiz that mentioned that Bahar can't be that far off recouping their mine costs, so that will be a major factor I'm sure. Stratex have some heavyweight shareholders and Marcus himself is a well contacted individual within the sector, so whilst this news is a set-back, all is certainly not lost.

Sadly the other really good news (Thani) has been very much overlooked by todays Turkish news.