Crusader Resou. Share Discussion Threads

[romeike] 17/7/2018 17:14

Crusader trading at just 1.58 - feel really sorry for the investors duped into investing in this trash at listing. Can't see any reason to stop it falling further. The company is worth less than nothing.

[the_debt_collector] 04/7/2018 15:46

There has to be some doubt concerning this Co's ability to survive.

The shares have been dropping like a stone on the ASX and the CEO refused to answer questions about the cash position just recently.

The main project needs US$90m to get it into production and they will need to raise 30% of that via equity if they can get the funding at all.

They have paid out A$10m in salaries over 5 years and corporate overheads were over A$1.5 per year.

In a nutshell hardly any of the cash that has been raised to date has been put into exploration.

The new CEO hardly inspires confidence either, seems to be on a gravy train just like his predecessors. A$350k per annum salary + bonus and generous option scheme.

It looks like another placing is a bolt on certainty, what incentive is there to buy right now?

[romeike] 03/7/2018 16:12

Check out recent car crash presentation with Marcus Engelfekt online - at about 20 mins in it looks like he can't make up his mind during the Q&A if the directors are paid 35K or nothing at all - not sure either is correct based on recent accounts showing generous salaries for directors. Or did he mean 35K a month?

Marcus you keep banging on about the ravenous appetite of Ozzie investors for Brazilian assets - but if that is true and applicable to CAS - why exactly did you list on AIM - a market small goldexs are LEAVING to list on the TSX, CSX where they get better valuations?

[novicetrade68] 03/7/2018 15:43

1.80p is the official bid now, it was 3.10p upon listing.

[romeike] 03/7/2018 15:15

Sub 2p on the cusp - what a bunch of trash this company and its directors are.

[romeike] 19/6/2018 15:55

Both Stratex and Crusader are screwed, strong inflation means the cost of exploration and development is increasing by the month, most of their costs are on wages and expenses which we can guarantee won't be curtailed short of foreclosure - how can they hope to survive?

[the_debt_collector] 15/6/2018 07:00

Down another 10% on the ASX to 3c a share equal to 1.7p, AIM IPO investors down 45% in under 2 months.

Management salaries and G&A running at £620,000 a QUARTER v current m/cap of £8.7m

1 year performance against sector - down 94%

This looks terminal.

[the_debt_collector] 11/6/2018 16:11

Dropping like a stone now, ASX price of 3.3c = 1.875p, may fall further.

Still £11m m/cap for a Co with rather a lot of dirt in Brazil needing $95m to build a mine. 30%-40% will need to come from equity holders according to the CEO.

Dilution central.

[novicetrade68] 08/6/2018 18:42

Eating my words already, towards the close there were actually people buying in size-ish.

[novicetrade68] 08/6/2018 14:55

Marcus was 'delighted' with those results.

The next round of funding will be interesting, if they go down the CLN route - no doubt pitched as their new 'cornerstone investor' - then CAS will probably win accolades for a share price which never went up.

[the_debt_collector] 08/6/2018 14:38

Nothing special drilling results from what this Co has suggested to be a bonanza asset in Juruena. ASX has them marked down 8% to another new low of 3.3c = 1.87p on AIM.

If these are the best intercepts, oh well !

0.7m @ 12.22 g/t Au from 29m in JRND-071 at the Daniel target
1.57m @ 3.17 g/t Au from 37m in JRND-072 at the Izau III target
3.03m @ 0.60 g/t Au from 23.5m in JRND-073 at the Panelas target

Looks like early investors could soon lose 50% of value in a matter of a few months since listing on AIM & more dilution is surely coming.

[novicetrade68] 08/6/2018 09:14

Drilling results didn't seem to impress much.

[novicetrade68] 07/6/2018 15:13

It's probably the most pointless IPO ever for retail, that I agree with. On the other hand, if this gets to 1p by the end of the month or otherwise soon-ish, it could perhaps become an opportunity.

[novicetrade68] 06/6/2018 12:29

There doesn't seem to be that many takers here, which I think it is good as there probably is a mega-overhang here. Only the big money can move this share up if they'd want to at some point, but at what level?

[the_debt_collector] 29/5/2018 07:50

Another new low printed on ASX overnight, equal to 1.95p a share, early AIM investors now down 33%

Don't suppose it worries the highly remunerated BOD, paying themselves mid cap salaries, shares are down 70% this year and 95% since 2014. Clearly they are worth every dollar!

At what price the next capital raise ??

[the_debt_collector] 23/5/2018 06:09

Down another 8% on the ASX to 3.6c, all time low, equal to 2p a share on AIM.

Down 70% for the year
Down 94% against the sector.

At what price the next placing or is it curtains?

Toxic

[romeike] 21/5/2018 12:08

From last quarterly report:

Costs of $2,296,000 - of which a massive $2,200,000 spent on staff, corporate and administrative costs.

What are CAS investors actually buying?

[romeike] 21/5/2018 11:03

Their listing on AIM raised a small fraction of the £15 MIL they hoped for. By the time they repay the loan from that other junk company Stratex they will have next to no cash left only a few months after listing.

I suspect they are nearly out of options for raising bits of cash - look at the chart since listing - what a flop. It will be interesting to see if they manage to raise any more cash from London.

[the_debt_collector] 20/5/2018 20:42

The accounts make somber reading especially page 16, the remuneration report, they are paying themselves as much as a mid cap Co but have no revenue.

Hard to believe they paid Robert Smakman $622,000 last year which included termination of employment settlement, not bad for a Co with NIL revenues and accounts that were qualified.

Page 29 and 30 show just how close to the wire financially they were at the time of the report

[novicetrade68] 17/5/2018 11:10

Yes, I wonder when the Bob Foster School of Geology will IPO...that should do really well on AIM...

[romeike] 17/5/2018 10:53

Don't touch this trash stock. You have been warned. AVOID. CEO is pure poison with personality of a dead rat in my opinion and their Borborema asset is total junk offloaded by local miners who dug up the high grades, did some more drilling and then opted to offload the site onto these gullable twerps. Been many years and they don't even have a FID for millions down the drain on massive salaries for negative returns to their shareholders. They tried to offload Borborema a number of times but no takers once the details are looked into, wonder why?

[novicetrade68] 17/5/2018 10:28

Raising at 1.5p or 2p is a real possibility I think ; /