Stratex Share Discussion Threads

[observer007] 16/8/2016 20:03

Strikes me he refers to the Stratex financial year starting 1st Jan, he has deducted gold produced in November & December so implies that the 30,000oz target will be met easily.

No doubt Stratex has budgeted for 30,000oz per 12 months, this will be exceeded, you can almost hear the delight in his voice when he talks about 31,000oz produced in the period 6th November to current, 9 months.

It is staggering, truly staggering that the current market value remains under £10m, there are companies producing nothing with market values 2x 3x that.

Outstanding buying opportunity

[sicilian_kan] 16/8/2016 19:43

Bob makes no sense. We know the following:

6 Nov 15 - First gold pour announced
31 Dec 15 - 608oz produced and sold
8 Mar 16 - Full commercial production by end month
16 Mar 16 - Further 12,280oz produced and sold
30 Jun 16 - Further 7,187oz produced and sold
Comment made today - Total exceeding 31,000oz since first gold pour AND on track for targeted 30,000oz for full year and numbers getting us well along that track?!?!

The numbers make even less sense than the RNS.

[charles clore] 16/8/2016 18:35

Goldendigger I am sorry to see you go. We date back to the days of Lucky the uber bull but even he got depressed at Bob's complete lack of shareholder focus. I probably would have sold up myself if it wasn't for the fact that a)I don't like taking a loss, b) I don't need the money and c) patience is my biggest failing. Instead I told myself that one day something great would happen here and began to average down my holding. But I wouldn't sell now that Altintepe is making big money. No way. As juju said Bob won't be the one to take this stratospheric, it will be the gold and luckily we have plenty of that, but we still need someone to steer the ship. Anyway having said all that, good luck with whatever you invest in from now on

[juju44] 16/8/2016 18:15

It will go where gold takes it , not Bob - make no mistake

[charles clore] 16/8/2016 18:07

I think we could see 10p here eventually. Been there before and can go there again.

[goldendigger] 16/8/2016 17:53

I sold up after the RNS was released the other day after being here since 2008, had enough but starting to think I have made a mistake..That RNS just made me depressed.

[georgesorrow] 16/8/2016 17:45

There was no mention of forward sales.

With 12.5k given as (total) output to mid-March and 19.5K to end of June, perhaps there was a lot backed up for processing in July. Who knows? But the total output is far more impressive than the picture painted by the RNS.

The RNS was clearly confusing re. output vs sales, as you cannot square output of 19.5k ozs with a sales figure of $32.7m given in the interims. However you can square the sales figure with an output of 31k ozs.

They have also said that the new clay-handling setup has improved throughput by 40%, so the remainder of the year should be better still.

[romeike] 16/8/2016 17:20

Gold is forward sold on contract for delivery isn't it?

[observer007] 16/8/2016 17:02

Bob seemed ecstatic on Bahar's performance and rightly so, the mine came into production in early November so in 9 months 31,000oz of gold produced.

Bear in mind they had teething problems so even more remarkable that they are in line to exceed 40,000oz of gold for 12 months, at an average price of $1275oz would equate to sales of $50m which Stratex has an initial 20% share.

Cash cost $560 + $100 = $660 AISC = about $25,000 distributable cash of which Stratex get 20% $5m (£3.85m)

Current market cap under £10m

[charles clore] 16/8/2016 16:55

The ability of Bahar/Stratex owned Altintepe Madencilik to produce 30-40k oz p.a. is no longer in question. The cash from gold sales is going into the company's coffers and they are very professionally doing the correct financial planning before dividing up the profits. Stratex is fully funded and doesn't need any cash yet so no problems there. But it will be nice to see some regular income from Altintepe at long last. The difference now is - what the sceptics thought impossible is turning into the possible.

[danieldruff2] 16/8/2016 16:47

I noticed that in the interview as well but it doesn't make a whole lot of sense. For everything to tie together you would have to assume they produced 19000oz up to end June, 31000oz up to now, and for the revenue to stack up they would have to have forward sold some gold in Q2 that they produced in Q3. What a tangle - I am confused!

[luminoso] 16/8/2016 16:32

I guess Bob can speak the english language better than he can write it ?
Whats left out of STI's RNS's is always more interesting than what is put in them !

[gamesplayer] 16/8/2016 15:54

31k oz is a significantly different picture....

[georgesorrow] 16/8/2016 15:38

Tadtech, I think you are flouting my copyright (and that of my countless aliases) on posts on the other board.

[tadtech] 16/8/2016 15:35

Latest BRR Media interview, Bob Foster confirms 31,000oz of gold produced since mine opened in November - Way above expectations!!

[georgesorrow] 16/8/2016 15:00

Some of the mystery as to the bizarre Altintepe figures is cleared up below:



Bob clearly states that there were 19.5k ozs produced in the first half of the year, and a total since first gold pour exceeding 31k ozs!!!

That would explain the income figure (given as $33m) and also means we have already passed the 30k oz target for the year (or rather first 12 months).

It also explains what is currently going on with the share price.

It also begs the question why was the RNS so downbeat, and why wasn't the impressive 31k ozs output figure flagged up?

[georgesorrow] 16/8/2016 14:01

Paul Johnson (MTR) is a co-founder and director of miningmaven. He features quite regularly as does his pal Andrew Bell (RRR). Now Emma's part of the club we can expect to hear more from her.

[juju44] 16/8/2016 13:53

Well that woke the old girl up. Emma has not learned Bobs skills at depressing the SP

[juju44] 16/8/2016 13:53

Well that woke the old girl up. Emma has not learned Bobs skills at depressing the SP

[tadtech] 16/8/2016 13:38

Goldstone drilling programme to start within a few weeks

[charles clore] 16/8/2016 13:30

juju - maybe because it's under the radar

[juju44] 16/8/2016 13:28

Not a buyer in sight . Must be because gold keeps climbing or maybe STI cant get a share of the gold

[steve1905] 16/8/2016 11:21

Anywhere bell 'end' of rrr is involved needs to be treated with caution

[charles clore] 16/8/2016 11:11

romeike - MTR are like Zebedee the way they bounce around the explorers! I bet Emma sorted them out at GRL good and proper.

[romeike] 16/8/2016 11:03

MTR probably needing cash to fund some other deal