Stratex Share Discussion Threads

[laptop15] 11/8/2016 09:11

Will you top up om the drop charles? I'm tempted.....

[charles clore] 11/8/2016 09:05

It has to be said that the entertainment value the 'helpful spectator' thread is unsurpassed. But I often wonder why they don't just pack up and go if they have so much criticism and anger for the company. I wouldn't stick around if I felt like that, it could lead to a coronary! I wonder if they hold any stock and if so, they must be able to see the benefit in doing so.

[5huu] 11/8/2016 08:52

Still nothing about the legal challenge?All in all a pretty poor update.

[danieldruff2] 11/8/2016 08:50

The way I read it...

"final numbers will in part be dependent on the conclusion of the current Stage I exploration and reserve drilling on the Extension Ridge zone"

AND

"Stage I exploration and reserve drilling on the Extension Ridge zone to facilitate the planning is nearing completion"

suggests that Stratex will not get paid at least until this drilling is done, which presumably includes a JORC calc, which together could take another 3-4 months.

I think Bob or somebody could do with clearing this up a bit in an interview.

[charles clore] 11/8/2016 08:50

We haven't heard from Clan yet. I am sure he will have something new to add.

[exbiz] 11/8/2016 08:45

No Shortarm I posted on this board by mistake, but now that I have it is hysterical reading back through the posts of you 'experts'

[shortarm] 11/8/2016 08:43

Exbiz - you find it necessary to post on both boards at the same time?What a jolly thorough chap

[goldenshare888] 11/8/2016 08:42

LOL - people seem to be looking for certainty in an uncertain business, located in an uncertain world (planet earth)!

No wonder people seem miserable!

:))

I am very content having bought low, to wait and see what happens.

Yes (doomsayers) it is a risk, but so is walking my doggy!

LOL

:))

NB. Safer more predictable areas are available for investors like banks and lottery tickets LOL

Good luck with whatever, everything is a gamble including croosing the road!!

[exbiz] 11/8/2016 08:41

Awfully quiet on the rampers board this morning maybe the penny has finally dropped. Amazingly the fantasists were talking just days ago of cash in bank of £4-5 million and secret deals in negotiation for the sale of our share of Altintepe for £20 million + Maybe now they'll all see the importance of cold hard figures.

[juju44] 11/8/2016 08:37

What a bunch of geriatric incompetents. I would ring Bob up to complain but he doesnt get up until 11 o clock

[steve1905] 11/8/2016 08:31

As ever, more questions than answers

[sicilian_kan] 11/8/2016 08:31

And look, there will be more capex expenditure that Bahar will be billing for Phase I, see:

"Discussions continue with Bahar, with regard to mine planning, and a critical-path analysis by Stratex and Bahar is focusing on the following: -- Expansion of the leach pad area, required for the latter part of Phase I production..."

You guys have no idea, after years and years, as to what the AISC are and as a result you have no idea as to what returns Stratex will get and when.

As a result it is impossible to value the mine and Stratex.

Hence the share price being where it is.

[shoggoth] 11/8/2016 08:28

You're still talking in terms of when, not if.

[ricky777] 11/8/2016 08:27

I have never read such a boring set of interim results. The Chairman has written this as if he is bored stiff. It is time to show that going forward there is a plan and they are exited about executing their plan. Just because accountants can be boring does not mean this BoD have to join them.

[sicilian_kan] 11/8/2016 08:27

How on earth can people be assured that Bahar is careful and consistent.

1) The figures given out about AISC were wholly inaccurate (who is responsible for this is another issue but Bahar did not correct these figures).

Stratex Presentation Oct 15 "US$530/oz AISC" [i.e. all in sustaining costs, which must include estimates of working capital costs and closure costs]

Stratex RNS Apr 16 "Total operating costs (less closure and working capital costs) currently stand at approximately US$560/oz"

Figures were given out purporting to include all costs that blatantly just did not.

2) The $39m was supposed to be a fixed cost to bring Altintepe into production.

What we then see is that they spend in the first half $1.8m on new capital items in addition to the $39m, including a replacement clay circuit to increase production rates. Why wasn't the correct clay treatment facility installed in the first place? Why should STI pick up the tab for a mistake in the pre-production expenditure that was supposed to be fixed?

[gamesplayer] 11/8/2016 08:24

An alternative way of looking at things is that STI are accruing cash at a rate of around USD86,500 per week (based on net cash of USD750 per oz at 30,000 oz pa and 20%).

Once the market thinks this is going to start being paid, that accrual is going to be like a balloon under water.

[danieldruff2] 11/8/2016 08:01

So basically Stratex have 6-9 months to work out income distribution with Bahar, else their cash position drops below a million which is placing territory. Not much happening outside of Altintepe. Could go either way from here.

[shortarm] 11/8/2016 07:58

If you naysayers remember Bahar took a very long time to agree a mine build price.... Then they took a long time agreeing a contract mining price - which hasn't been raised...They seem to be a careful and consistent partner (unless you're a conspiracy theorist)

[highly geared] 11/8/2016 07:56

The BOD appear to have not the slightest regard for shareholders, it's all about prolonging their careers until a comfy retirement beckons. The issue has been a series of very poor investment decisions post 2012 following tge golden period.if only they had stuck to Turkey.....

[shortarm] 11/8/2016 07:55

Ooh, name calling!Deal of the year award old boy :-)

[shoggoth] 11/8/2016 07:53

> I am not concerned as Stratex have a proven deal making record.

Stratex have proven themselves more able to extract cash out of the balance sheet than to generate it. You're a fool if you're not concerned by this.

[highly geared] 11/8/2016 07:52

It boils down to whether Stratex will run out of cash before Bahar pay them any money. Then, nobody knows how much..... No cash to fund other projects, essentially a cash strapped minority investment partner in a mixed bag of assets with a bloated BOD and cost base with no interest in shareholders.

[goldenshare888] 11/8/2016 07:47

12 months is plenty of time and I think with current burn rate it is actually longer.

If they JV Dalafin and pass on costs to the partner there may be some refund of historic exploration costs as is often the case.

I am not concerned as Stratex have a proven deal making record.

I expect lots of positive news this half.

:))

[shortarm] 11/8/2016 07:47

Is that four million if you post it twice?Great news today!

[ryanandbethanjones] 11/8/2016 07:45

meanwhile STI have blown $2M on Tembo etc.