We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Stratex | STI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.425 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.425 | 0.425 |
| Top Posts |
|---|
Posted at 28/8/2018 11:23 by tournesol thecoyoneI've already told you that I have no exposure to STI's share price. I do not own any shares. I do not have a short position. I do not believe that it would be possible for anyone to establish a significant short position. For that to happen a holder would need to lend his/her shares to the person taking the short position so they can be sold. STI is so small that there aren't enough shares for such a transaction to take place. As for naked shorts, the idea that the share price trend has been influenced by naked shorts is even more preposterous. Naked shorts can remain in existence only until the sales transaction is closed by delivery of the shares. That means in 5, 10 or at most 20 days. Look at the chart of share price here. It has been heading south since 2012. It is simply not possible for naked shorts to be sustained over such long periods. Apply Occam's razor. Either the company and its management has failed or or there is an international conspiracy to follow a naked shorting strategy, that has been pursued by person or persons unknown for a 6 year period and has undermined the share price. You do not have to be a genius to figure out which of these scenarios is more likely. If you study the detailed history of failed projects, chronic over promising and under delivering, managers with no interest in the welfare of share holders etc etc etc, then it is really easy to figure out which of these alternatives is actually the case here. |
Posted at 20/8/2018 18:19 by novicetrade68 tournesol, sentiment plays quite a big role with plays like STI imo, gold seems to be bouncing and may even go back in the $1200s again.STI is obviously not an investable company for the long terms as they need a lot more money for their Cameroon project, but the situation is now the MCAP is £2.75m and from the interims they had £2.3m in cash on June 30. So, there could be some potential upside here. |
Posted at 17/8/2018 08:14 by tightfist A clean sweep of the BoD was what was 10 months overdue and it was what we have now got. I am HOPEFUL that last year's Requistioners will belatedly get their way, we shall soon see.We now have the OPPORTUNITY to put the ills of the last few years behind us. We know the hard assets we currently have and we all have mixed opinions on the soft assets (people). Going forward substantial dilution must be on the cards; hopefully money will be raised at a higher price after a positive IAMGOLD Dalafin drilling result but there are no guarantees in life (as STI shareholders can vouch!).Cheers, tightfist |
Posted at 16/8/2018 13:42 by tournesol Geotrav - and others expressing optimistic viewsNot only do I understand the junior exploration model, I worked for many years (and in many countries) in resource companies and in exploration companies. And since retirement I have made a good living by investing in exploration and production companies - mostly hydrocarbons rather than metals, but the fundamental principles are the same. The question here is not the credentials of those like me who are critical, but rather the ability of the company's business model to generate returns for investors. On STI's homepage, in the Company Overview, there is a boastful statement that says: ...Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper… Now perhaps you can explain how it is that STI has succeeded in discovering all of the above:- a) without paying any dividends b) without delivering any gains in share price c) with very substantial dilution of shareholders d) whilst the enterprise value, the market cap and the net assets of the company have all dwindled to almost nothing Where has all that discovered gold, silver and copper gone? What has happened to the wealth created by all of that successful exploration? I note that throughout its history generous salaries have been paid to directors, management and staff, all of whom have received very substantial personal benefit in the form of remuneration and pensions and all of whom have been given shares and share options for which they have paid nothing. I think I am right in saying that none of these people have ever put their hands in their pockets and bought shares with their own money. So inasmuch as STI's boastful comments are accurate, the only beneficiaries of their success have been the management and staff. No benefit has accrued to shareholders. Of course cheerleaders like you want investors to ignore the past and fantasise about a future which holds promise of a golden eldorado which will make them rich. But it is simply not feasible. Someone famously said that those who do not learn from history are doomed to repeat it. The history of Stratex is that it is not very good at exploration but even when it succeeds it then fails to harvest any value for shareholders and wastes its resources and its energies getting precisely nowhere. At the time of the first STI IPO, the company had promising discoveries in Turkey and enough cash to take them through to production and an exciting story which would allow additional fundraisng when required. Now it has none of the above. What exactly can we expect to happen over the next year or two? Something different from before? or something similar? For me to take the new management team seriously I'd want to see a tough, clear-eyed, hard-headed approach to cost reduction, clearing the decks and focussing on the few tiny nuggets of residual value. I'd want them to leverage their investment in ThaniStratex. Changing the name of the company? Like renaming the Titanic. Utterly, totally and completely pointless. A waste of very limited resources. A diversion of management energy that cannot make any difference to the ultimate outcome. Raising an additional paltry million? Clearly a complete waste of time and money. I don't know about an Oriole, I'd say it's more of a dead parrot. |
Posted at 16/8/2018 08:15 by tournesol geotravyou appear to be a troll sponsored by management to claim that all is well in this the best of all possible worlds whilst demonstrating ignorance of the omnishambles that is STI and a lack of insight into its dreadful history FYI I have no exposure of any kind to the STI share price I did invest in years gone by and must be one of the few to have exited with profits I occasionally post here because I am appalled at the disgraceful behaviour of management, their utter incompetence and the complete contempt they have demonstrated for their shareholders Clear? |
Posted at 10/8/2018 08:15 by tightfist Hi Tournesol, I totally agree with your perspective on MsEP and her rumoured role in the STI saga. That is one of many reasons I feel so disgusted that PA is still in the Chair. There was an honourable person on the BoD with sound misgivings - but being completely ignored.There is one key action that has to happen to regain any shareholder respect - and give us the chance to take us forward out of this mess.......Cheers, tightfist |
Posted at 07/8/2018 07:48 by tightfist Hi Tournesol,I appreciated your post and reflection on three individuals who have "contributed" to today's situation at STI. I think you have been very generous concerning the dire judgement (and greed?) of Mr E, and the Chair who seems to derive his pleasure from both monetary reward and moreover from thumbing-his-nose at shareholders. His replacement is the key IMHO.With respect, I think you have missed a fourth important player, Ms EP. According to the rumour-vine she campaigned behind closed doors against the Crusader deal - and eventually resigned her position rather than be associated with it. STI then exited GRL exacerbating the situation; I guess a number of posters hold stock directly in GRL and thankfully are not completely out of the action there.Cheers, tightfist |
Posted at 30/7/2018 17:24 by laptop15 Very interesting thecoyone, imagine what a $20 million cash sale of Dalafin would do to the £2.5 million mcap of STI???Why else would IAMGOLD be doing the JV?? Extend there resources from current operations which are right beside dalafin area and Buy it once proved from stratex.The market appears to have missed this imo.....I have a feeling all will be revealed soon! |
Posted at 23/4/2018 12:28 by tightfist Hi SPADman,The investors in STI have gone quiet, there are a number of disappointed (disillusioned?) people LONG invested in STI but the patient have gone quiet for the time being. The assets/cash speak for themselves and IMO value will out in the medium term. The AGM was only attended by Bob and two shareholders, such is the current level of active interest. The new CEO was interesting and IMO will breathe some life into STI. Another aspect is the future of their holding in TSR? David Hall seems to be aiming at a TSR listing on TSX-V and one can imagine all sorts of scenarios unfolding both before and after a listing.Watch this space! tightfist |
Posted at 13/10/2017 11:53 by 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 · 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. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
