Share Name Share Symbol Market Type Share ISIN Share Description
Stratex LSE:STI London Ordinary Share GB00B0T29327 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.25p 1.10p 1.40p 1.25p 1.25p 1.25p 2,234,515 07:58:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -2.6 -0.5 - 5.84

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Stratex (STI) Top Chat Posts

DateSubject
18/10/2017
09:20
Stratex Daily Update: Stratex is listed in the Mining sector of the London Stock Exchange with ticker STI. The last closing price for Stratex was 1.25p.
Stratex has a 4 week average price of 1.08p and a 12 week average price of 1.08p.
The 1 year high share price is 2.38p while the 1 year low share price is currently 1.08p.
There are currently 467,311,276 shares in issue and the average daily traded volume is 958,669 shares. The market capitalisation of Stratex is £5,841,390.95.
15/10/2017
10:13
observer007: According to Stratex presentation they could grow the company to $135m (£103m) based on EV/Reserve of $84oz, if the merger goes ahead. Question is how many shares will be issued above the proposed 2.45 billion to get there, very important but no reference at all. Assume 1 billion more equals a share price range of 2.9p Assume 2 billion more equals a share price range of 2.3p Then there would be debt to pay off, possibly $60m-$70m - very significant! I think the above demonstrates why the proposed merger is so bad for existing shareholders. General Meeting date of 1st November draws closer.
13/10/2017
11:53
novice52: Since 2013 I have watched this share price fall from 4p to 1.6 today. What have the directors and management done to earn their salaries. In my view the case put by David and Paul is very strong. Forget all the personality stuff and re-read the facts about how bade the Cruader deal is. "Dear Stratex International plc (STI) Shareholder, Proposed reverse takeover of Crusader Resources Limited (CAS) by STI We together hold 24% of STI's shares and have long been its supporters. David Hall and Paul Foord were founders of the business. STI has always focussed on early stage gold discoveries. It is deeply concerning to us that management has decided to stray into an area where, we believe, they lack sufficient expertise and will be unable to deliver an acceptable deal for shareholders. We have stated our objections in letters to the Chairman from AngloGold Ashanti, Teck Resources and David Hall, amongst others. Unfortunately, the directors have ignored these objections and proceeded with this expensive and value destroying deal. Accordingly, as holders of over 5% of the shares in STI, we have required the directors to circulate this statement to STI shareholders and convene a GM to vote to: a. terminate the transaction; b. remove Peter Addison and Marcus Engelbrecht as directors; and c. appoint David Hall and Paul Foord respectively as directors. Rationale for terminating the reverse takeover This transaction is highly risky and value destroying for STI shareholders for the following reasons: · Strategic Focus. It represents a completely different focus for the business, which is naïve, significantly riskier (due to the lack of mining experience) and value destroying: o STI has ten years of exploration and development experience in Turkey & West and East Africa. A move into operating a mine (in Brazil) represents a significant diversification. o STI tried a move into mining in Turkey by partnering with a recognized mining contractor but unfortunately, it failed due to a lack of mine management expertise. A salutary lesson that mining requires a completely different set of managerial skills and years of experience. o STI/CAS will need to raise significant funding (circa $100m) in order to develop either project into a mine. o The most significant uplift in economic value is achieved through early stage resource identification and proving thereof. This is the reason the current shareholder base invested in STI. o The 20:1 roll-back is likely to result in further loss of value and greater dilution when raising new funds. · Economic Grounds. The deal places a premium of 63% over Crusader's current share price. STI's valuation is based on cash at bank ($7.75m), effectively treating the company as a cash shell and takes no account of STI's assets in Turkey, Africa, Egypt or Djibouti ($7m): o STI's value should be $14.75m rather than $9.4m - a discount of 36%. o CAS's share price is A$0.11 equating to a value of $24.6m, rather than $40m - a 63% uplift o STI shareholders could invest in Crusader at A$0.11 - there is no reason for STI to do this on our behalf at a higher price, with no synergies. · Control/Dilution Grounds. CAS shareholders will own 81% of STI. STI shareholders will be diluted and lose control. · Resource Grounds. The undeveloped assets in Brazil have been around for some time for a reason: o The two potential gold resources are questionable on economic grounds. o Numerous other companies have considered acquiring the concessions and have not proceeded o STI doesn't have the insight nor expertise to prove otherwise. · Operational Grounds. There are no operational synergies between potential gold mines in Brazil and STI's current exploration operations and technical staff in Europe and Africa. · Managerial/Expertise. There are no synergies nor savings possible as the STI management and technical team is not experienced in developing and building gold mines · Contracts and Expenses. The combined business (including all of the existing CAS and STI senior management teams) is going to be top heavy and very expensive: o The CAS structure includes senior management in both Brazil and Australia. Combining this with STI's management in London, the combined business will boast senior management teams on three continents. o The CAS directors (three) have two-year terms and salaries of A$350k each or $260k each plus the Australian and Brazilian overheads. Significantly increasing current overheads.
10/10/2017
20:30
tadtech: It is quite simple, Anglogold Ashanti, Teck and every major shareholder in Stratex are against the merger, Blackrock have yet to declare apparently. I have yet to see anyone who believes this proposed merger will be beneficial to EXISTING Stratex shareholders. In one foul swoop Stratex want to issue 2 billion shares to acquire a company that is in financial dire straights, they want to pay double the current market price, within a few months want to raise (via equity) even more cash, possibly $10m. By year end IF the merger completes Stratex will almost certainly have over 3 billion shares in issue (now 467m) and that is before the matter of raising another, wait for it, $80m to $100m to build the mine. 250m executive options will be added to the equation to 'incentivize' management of which Marcus will be entitled to 50%. Basically existing holders will be diluted, wiped out, call it as you will. To get to the average 18 month Stratex share price of 1.9p the merged entity would need a market value of £60m compared to only £9m now. Only last year Stratex shares were trading at 2.5p, Hannam say the existing assets are worth 3.5p a share. I believe that if the merger fails there will be a strong rally in the stock price, it is clear the market hates the deal. Remember what share price Angel, presumably John Meyer, stated in a 'morning briefing' What planet are Stratex management on they asked, they have pulled the proposed merger apart.
01/10/2017
23:34
tippow: With Copper set to explode i have Put together some info on #GEO which is well worth researching over the weekend. GEO has £4.5m in cash (enough to take them to production) and BOD have bought £100k's of shares in the open market previously so they are aligned with share holders. "Our twin objectives for 2017 are to report a 3 to 5 Mt copper and gold resource and to commence low cost production to be processed at our JV partner's neighbouring operations. We are on course to meet both objectives..." GEO are looking at proving up 50mt and it looks like that may well be blown out of the water as the resource looks much bigger then originally thought. 50mT at 1% gives 500,000 tonnes of copper. Copper at $3/lb = $6.62/kg=$6,620/tonne 6,620x500,000= $3.31 billion 50% ownership so that become $1.655 billion $=0.75£ $1.655billlion=£1.24 billion Lets assume a modest 50% recovery and a 25% profit margin. 1.24x0.5x0.25=£;155m Even with my ludicrously conservative assumptions and excluding the gold cap, this company is sitting on an asset at 5 x the current share price and production is likely to commenceg in the coming months. John Meyer,twice winner of the UK Smaller Mining Analyst of the Year. He picks Georgian as his top copper pick and describes GEO as "the next SOLG" SOLG market cap is £500m!! John Meyer, analyst at share price Angel, looks at his picks including Glencore, Rio Tinto, Georgian Mining and SolGold. 4.45mins in hxxps://www.ig.com/uk/market-insight-videos?CHID=9&SM=TW&REF=IGTV&bctid=5567278253001&bclid=3671160850001 … … … … … … Also previous videos on GEO worth watching hxxps://audioboom.com/posts/5996550-john-meyer-covers-georgian-mining-corp-geo-ortac-resources-otc … … … … … … … hxxps://audioboom.com/posts/6041037-john-meyer-on-solgold-solg-georgian-mining-corporation-geo-21st-june-2017 … … … … … … … hxxps://player.fm/series/the-vox-markets-podcast-with-justin-waite/824-georgian-mining-corporation-geo-and-bonnie-hughes-on-botswana-diamonds-bod … … … … … … … hxxps://audioboom.com/posts/6149837-greg-kuenzel-managing-director-and-martyn-churchouse-technical-director-of-georgian-mining-corporation-geo-27th-july-2017 … … … … … … … https://www.youtube.com/watch?v=RWSzYMTcZKg … … … … … … … This is what is being indicated by the BOD. "Although work to date has focused on three zones as separate areas, recent results suggest that they coalesce to form a large epithermal copper-gold system" Now that would be HUGE!!! "A large epithermal copper-gold system" GEO with its vast resources,no capex outlay for a mine,plenty of cash in hand Leading to a more or less debt free flying start to a rolling income equating to a minimum price target of 60pps+ based on available information with a million ton throughput for copper followed almost at the same time by gold? Is 60pps too conservative in view of the increasing copper and gold prices? we are awaiting in a strong news rich transformational period for the company and await results of the 28 assay results, JV production agreement, production starting date. The project is derisked now. It is going to be mined and no capex needed!! Remember the company have previously described their find as a "world class discovery" John Meyer also said in one of these interviews that " this will be in hundreds of millions if not more" Multibagger in the making here and all very close All thoughts are mine and helped by others posters snipets.
26/9/2017
10:32
tadtech: I was trying to consider how the Crusader deal COULD have been delivered which would not have infuriated Stratex shareholders to the extent it has. At the time it was announced Crusader share price was 12c - valued them at £22m The last 18 months Stratex share price averaged around 1.9p - valued STI at £8.8m It is clear that Crusader were strapped for cash and loss making, I account for this. I believe an all paper offer something like this MAY have satisfied Stratex shareholders. > Stratex to offer CAS shareholders a 10% premium making 13.2c > Stratex paper to be valued at a premium to market at 1.9p (reflects £7m cash + equity stakes) > Therefore Crusader equity valued at £24.25m > Stratex offer 1.27b shares to CAS shareholders (4.2 for 1) > Therefore Newco would have 1.74b in issue @ 1.9p - Newco m/cap £33m Plus, more clarity on forward funding and how it would be achieved + firm commitment to cut G&A costs, directors packages to be clearly aligned to shareholder value targets. Thoughts?
19/9/2017
18:46
tadtech: What the current Stratex directors seem to ignore is the share price and the plight of EXISTING shareholders who may have paid 3p+ Shareholders are only interested in the value of their investment. Since the tenure of Marcus Englebrecht the share price has collapsed to historic lows with no real signs of recovery. It is clear the market does not like the deal. For the share price to return to 2p, based on the current issued capital, the market cap would only need to reach £9.35m, a modest increase from current levels. If the Crusader deal completes the market cap would need to reach £50m to return to 2p, a massive uplift of £25m needed, based on the current value of CAS & STI in the market right now Not one director of Stratex has bought shares in the last 3 years, the newly appointed CEO has a NIL holding. It is ironic that the current BOD are now ridiculing the implied proposal of David Hall to merge Stratex with Thani-Stratex but this is what was said by Marcus in May. "I am delighted to be able to announce Stratex's participation in the successful US$1 million fundraising that will enable further drilling at Anbat. Results to date have been highly encouraging, delivering a number of high-grade gold intercepts. Consequently we are excited by the future value that we believe the Prospect can deliver to our shareholders, and look forward to updating the market on the results of the drilling programme in due course."
20/6/2017
15:43
tadtech: This company needs acquiring by an entity that knows how to work the AIM market, look at what Gevaise Heddle has done at Greatland Gold with very little money, a 400% share price increase + getting a blue chip major involved in their main project. Stratex has £6m+ in the bank. I sent an email to Stratex suggesting I would be amazed if the larger shareholders accept the deal, it is truly awful. I said I will be voting against it unless the terms were reviewed. It is clear Crusader were desperate for cash so why did Englebrecht agree to pay a 65% premium? It would have been more palatable if the deal had properly valued STI's cash and stake in Thani + other assets, possibly by getting a larger slice of Crusader (35%) and at a share price more reflective of the 12 month average performance (1.85p) I am at a total loss as to why Englebrecht pitched it like he did. It seems a number of Crusader's private shareholders are also bemused pointing to the drop in STI's share price.
20/6/2017
13:22
charles clore: I reckon there will be a no confidence vote in Marcus, Emma will take over as caretaker CEO and work with Thani to develop it as an IPO later this year. The STI share price would rise strongly on such news imho.
13/6/2017
17:32
tadtech: Post from a Crusader shareholder........... This post of mine isn't meant to give you an answer but more my personal hunches from a CAS shareholder's point of view. I'll firstly give to a quick over view on why Crusader needs a financial partner and then why I believe Stratex wants to partner Crusader. 1st ~ Crusader has two world class deposits but no money for capex. 2nd ~Crusader was/ is being day/range traded to oblivion. Okay, back when Iron Ore was worth a lot more than what it is today Crusader (CAS) was using the profits from it's Posse IO deposit to fund exploration, a scoping study and a feasibility study for it's Borborema gold project. Why Borborema was eventually put on the back burner after the feasibility study was unclear, you'd have to say it was because of Bororema's marginal profits (at that time) when compared to the risks investors were taking meant that CAS couldn't quite get the project over the line at that time. The World Bank wanted to fund Bororema to give the local districts employment opportunities. What is actually truth and fiction regarding Borborema is sometimes hard to say. The reality is however, CAS's aim was to develop a Gold deposit through to production, if Bororema wasn't viable, CAS was on the look out for a Gold deposit that it could develop quickly -- step forward Juruena. This was when things started to go bad for CAS. Firstly, it coincided with the dramatic fall in the IO price -- There goes the profits from Posse to develop Juruena. Secondly, the development of Juruena has been going at a snail's pace. This has mainly been for two reasons. CAS management have under-estimated how long things take in Brazil, and secondly, the lack of funds has meant things have been done consecutively. What I mean is, any savvy operator will conduct development of any project on a concurrent basis. CAS just didn't have the funds to do that so have had to things one by one to try and extend the periods between capital raisings. As another poster said in a previous post however, the the last couple of years as been a slow death by a thousand cuts for CAS. The share price which was over 40 cents around the time when Posse was still paying for things is now stuck between 10 to 12 cents. The irony however, since CAS brought Juruena, the Brazilian Real has slowly collapsed. That fact as well as a reworking of Borborema's BFS where the focus is now on hitting the high-grade deposits first has meant that Borborema is now very profitable. Too late but, CAS brought Juruena to develop. So it finds it has two profitable deposits but no money. Okay okay, why is Stratex so excited? Simple, the numbers! Let's look at Juruena first. Capex should be low with management's aim to contract most things out. First year of production before ramp up is said to be 40,000 ounces. My own personal opinion on margins per ounces going by grade, type of deposit and local costs (A truck operator is one/tenth the cost in Brazil compared to Australia) is $500 an ounce. And a think it will be shown that that figure turns out to be conservative. That equals AUD$20M in the first year of production, but more importantly, both managements think that Juruena can be brought into production rapidly with a injection of funds. That's the catalyst on why they believe Borborema will be successful. Juruena will be a short project at this stage. without further drilling, there's enough reserves to produce around AUD$110M in profits over five years at current prices considering ramp up as well. Borborema is a much much longer project and is the companies main aim. A high ounce producing Gold mine that can sustain a long term operation. Mineralization is still open at Borborema. What is CAS's goal? Become a long term Gold producer where eventually profits go back to shareholders in the form of a dividend -- Isn't that what they all want? I'm guessing Stratex's management want the same for their shareholders. Why is CAS going to London? Because the share price won't go up in Australia. The combined entity will have a much much better chance of obtaining the funds needed from savvy London investors with a long term view. Australian investors only have a short term view ... generally!
28/2/2017
16:05
charles clore: Shorty - I can see real value emerging from development of those two assets. And it will mean something tangible that will lift the STI share price right out of the water imho.
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