Stratex Share Discussion Threads

[steve1905] 27/7/2016 08:43

The only thing that matters is that Bob delivers news of production and revenues received and to know that Baha are playing ball.

[charles clore] 27/7/2016 00:51

Tad - thanks for your thoughts. I agree with you that Bob seems very genuine when he says he will get the update out to us as soon as possible. Out of all your scenarios the one I would go with is the sale of Altintepe.

[tadtech] 26/7/2016 20:41

Altentepe gold mine & conjecture

I am convinced the next update will be integral as I believe the short delay may be related to other matters.

At the May Mining Capital conference Bob (Stratex CEO) said he would endeavor to finalize all the financials with Bahar (the JV partner) within 2 months.

I consider the delay to be related to inclusion of the Q2 production number thus giving Stratex ability to update on.....

(1) Total Q2 production
(2) The final agreed AISC (which I think will be near $660oz)
(3) Cash receipt from Q1 & Q2 production (circa £1.75m-£2m to Stratex IMO)
(4) Possibly some statement on expected mine life (est 8 years currently)
(5) Or are they negotiating to sell their stake

It was clear, to me at least, Bob was very determined to get out information as soon as was practically possible. He seemed genuine about that.

Bob has been very busy recently, I believe he has been in Africa. What people need to remember is that Stratex has a stated aim to acquire a significant near term producing asset that may outstrip that of Altentepe by multiples, they state West Africa.

I would not rule out a sale of Altentepe IF Stratex can acquire the new asset, recent events in Turkey may encourage them to cash in, my take is they may accept IRO £30m-£35m (over 8 year mine life they would get IRO £45m-£60m)

The above is, of course, conjecture, but this is what bulletin boards are for. If they can sell the 45% stake for £30m compare that to the current £8m enterprise value.

I would encourage people to calm down, unfortunately there are folks that only want to spout negativity, but, they could shortly be spitting feathers.

In the meantime I believe the current share price is a gift but DYOR etc.

[juju44] 26/7/2016 20:06

Yawn ....zzzzzzzzzzzzzz

[goldenshare888] 26/7/2016 19:55

LARGE INVERSE H & S FORMING?!!!

:))

[corguv] 26/7/2016 19:24

George
Centerra Gold is a well known and well respected Public Company with a reputation to keep in place for the future. At Oksut they dealt fairly and squarely with their minority Partner Stratex and thus maintained or enhanced their ongoing Trade reputation. Good business practice imv.

Bahar is a private company we know little or nothing about it's shareholders, they may be a close knit group of people, with all manner of possible interests. We know that a deal was struck five years ago with apparently simple claw back $39million costs at 80% then 55%. However the last RNS showed that suddenly this deal was unraveling with additional costs and disproportionate payments.

[gamesplayer] 26/7/2016 16:53

Don't panic just yet.

The last update was just over a month after the sales data (sales to 16 March - RNS 18 April). If they are to move to the quarter end and if they keep the same approximate timetable of just over a month to report, then we wouldn't expect any RNS until the first week of August.

We haven't got into an established pattern of reporting so I personally don't think it is sensible to draw any conclusions, whether positive or negative, from no news.

GP

[georgesorrow] 26/7/2016 16:30

There is a JV agreement between STI and Bahar that sets out how STI is to be paid during the period in which Bahar is recouping its construction costs. Implicit in any such agreement is the need for Altintepe management to provide sufficient operational information to allow the terms of this agreement to be fulfilled.

It does not matter whether Baha is private or listed, that is irrelevant. Unless someone can advise us otherwise, after nine months of operation Bahar does not appear to be fulfilling its obligations. The longer this goes on, the more worrying it will become.

[observer007] 26/7/2016 16:20

Multi alias corguv

Wrong just like you have been wrong with your investment in Stratex by not selling out at 8p-9p-10p at the height of the last bull market.

Oh by the way, you were trashing this at 1.25p last year, are you going to apologise to those investors that missed out on a 100% gain when the shares hit 2.5p bid recently.

Failed market investor etc, when they release the news watch this fly.

[charles clore] 26/7/2016 16:14

Exbiz - I agree on 5he face of it Bahar should be much more cooperative. But supposing there is more to it than that? Maybe we are in negotiations over something that would materially affect payments. Maybe whatever they are talking about would mean just one payment. Would that be a valid reason for not saying much? I don't know if that is true but I keep writing to Bob urging him to give us some information. But it seems he cannot and we have to ask ourselves why. If it was really bad news I am sure Bob would have already informed the market or his career and credibility as a geo academic would be over So we are left with the positive scenarios which might be a buyout or some completely new deal we can't even imagine. I am intrigued to say the least.

[corguv] 26/7/2016 16:06

Well I fear that 55 percent is a majority at almost any Board Neeting and almost any Resolution. So Stratex are in a very weak position. Equally given that Bahar built and paid for the Mine and operate it, Bahar call virtually all the tunes.
How nice are they as a private company remember this is no Centerra, who were positively correct and fair. Bahar as a private outfit have nothing to lose and everything to gain playing hardball - no ?

[exbiz] 26/7/2016 15:53

CC I'm not a charts man at all so I will bow to your greater knowledge and judgement on that, but if it indicates that the share price is heading north I shall keep my fingers crossed. I do think though that the only thing that will significantly improve share price performance is meaningful news on our projects, especially Alt of course but management seem to be able to tell us precious little other than they know news is overdue. In reality we own 45% of the producing mine; although our current return is just 20%; and so as almost equal partners I expect any responsible board of directors to show some balls and start demanding answers so that they can inform their shareholders and not to take their current position of just saying 'Ah well, we are the junior partners and they are an unlisted private business who don't need to divulge information' My answer would be 'your our partners and so you bloody well do need to share all information with us !'

[charles clore] 26/7/2016 13:27

exbiz - the IHS seems to be forming nicely, what do you think?

[exbiz] 26/7/2016 13:08

Unfortunately juju some people don't want to discuss facts and figures and lack of information and completely disregard the share price as irrelevant wishing only to spout fanciful garbage to pump the share price so that they can get out and dump their holdings on others. Only problem is nobody listens to them. They set up their own BB and all got fed up of just repeating their deluded mantra and have come scurrying back here so as not to feel entirely irrelevant. But still they have nothing to say.

[juju44] 26/7/2016 12:58

The source is the share price

[observer007] 26/7/2016 12:53

Only thing that is wrong with this company are the lunatics that frequent this bulletin board.

No dilution for 4.5 years, look at AAU and KEFI more dilution recently.

Fill your boots, this will double/treble from current levels once they start to release news.

Thani Stratex is probably worth the entire market cap on its own.

6.6p broker target is conservative

[gamesplayer] 26/7/2016 12:51

Charles bought this morning. Not sure where you get that the market suspects something is wrong from. Source?

[juju44] 26/7/2016 12:49

Been a long time since anyone bought any of these. Market suspects something is wrong and the deafening silence from Bob and co. feeds that suspicion

[gamesplayer] 26/7/2016 10:43

Feel free to buy some more and see what happens!
All The Best
GP

[charles clore] 26/7/2016 10:23

Once again today having experimented with several dummy trades I was surprised to find that, for example, market makers want 2.65p a share for 500k but only 2.14p for 250k. What this discount actually means I don't know but I bought 250k anyway. Seems like a bargain to me.

[corguv] 25/7/2016 22:54

Bob alone was paid £158,000 by Stratex last year.
With Admin running at over £175,000 a month.
Other perks from sundry associated Boards.
The directors know which side their bread in buttered imo

[steve1905] 25/7/2016 19:21

I get a suspicion they'd want a little more of the pie than that

[charles clore] 25/7/2016 17:14

Or how about selling Altintepe and Africa, paying the directors £50k each and dividing the rest among shareholders??