Stratex Share Discussion Threads

[shortarm] 16/1/2017 07:26

Where is the news......?

[charles clore] 15/1/2017 21:51

steve - without Altintepe the share price would probably be under 0.5p. With Altintepe it should be around 10p. What do you think it's worth to Bahar? 5p a share?

[steve1905] 15/1/2017 20:54

Without Altintepe why would you invest in Stratex?

[novicetrade68] 15/1/2017 20:45

May be Marcus will consider a dividend and the years of waste are over. Wishful thinking probably !

[juju44] 15/1/2017 20:33

Bob was totally ripped off by Centerra and then wasted the money instead of giving it to shareholders. Just might happen again

[novicetrade68] 15/1/2017 19:17

If Bahar would like to pay STI for a nice sum to fully own Altintepe then I think nobody will object as it would likely mean a hefty increase in the share price here. The only think we don't know of course how deep Bahars' pockets are. I mean, Centerra is a huge company by comparison and for them doing a deal with Bob was probably pocket money for them, but may be for Bahar it may not be as straightforward if they don't have much pocket money to begin with.

[tadtech] 15/1/2017 17:53

I think we will soon get news, it will be very bad form of Marcus, the new CEO, to publicly state he would answer the market in a maximum of 3 months (Feb 6th deadline) and not deliver.

Having taken the trouble of meeting Stratex twice over the last 2 months I am very contented to wait for the news to come, it may surprise to the upside!

In the meantime it seems there has been some drilling activity (smiling faces!) at the mine in the last month + a new gas dryer has been delivered. So operations continue.

[steve1905] 15/1/2017 17:14

Hope you're wrong. Stratex's track record is of bonuses for the board and pitiful acquisition would strike fear in the market

[charles clore] 15/1/2017 17:14

lum - that is a possibility and it would explain the radio silence. Plus, the AM bank account is so far locked up tight as a drum with nobody getting any of the mining profits. So assuming a sale could be on the cards, what do you think we might get for our share of Altintepe?

$20m cash?

[luminoso] 15/1/2017 16:36

I don't think we will have to wait until March because Altintepe may well be sold by then. The only sensible reason for this long silence from Marcus, IMO, is that the sale is being negotiated and has been in the process for some time. Consequently no announcement. I imagine Bahar would like shot of us and might see difficult wrangles over mining costs as an incentive for STI to let it go cheap. Marcus won't want to do that - hence probably very difficult negotiations going on. I wonder if Marcus would like to make his name from what he can do with that cash, rather than sit back and wait for the dollars to flow in from the JV at Altintepe. Who knows though ?
Just Sunday ramblings from me and best ignored as its only my opinion.

[georgesorrow] 13/1/2017 16:05

Blobby, Bahar is still in the process of recouping its Lira outlay on Altintepe construction in dollar terms. The cost was fixed at $39m. I asked Bob in person if the money would be recouped as a Lira equivalent or in dollars and he said dollars. So thay paid out money in Lira and will be paid back in dollars, which are now worth about 50% more than they were in Lira terms when construction started.

[blobby] 13/1/2017 15:49

George,

Baha's construction costs of $39m are historic (more than 12 months ago). We don't know how they financed them but a large prudent organisation would probably have hedged their costs in one currency with their expected returns if they were due in another.

I agree that they might have been doing well recently if their local costs have gone down a lot relative to the local price of gold. I wonder what is to stop Bahar putting up the costs of contract mining for the future and thus making more money at the expense of Stratex.

[georgesorrow] 13/1/2017 15:32

Gold has been soaring of late in Turkish Lira terms, way beyond previous historical highs.

hxxp://goldprice.org/gold-price-turkey.html

The PoG is up more than 50% in Lira since the time when construction of Altintepe started. As Baha will recover its construction costs of $39m in dollar terms, not Lira, it will see a huge Lira profit on the construction project.

As Baha's contract mining costs were pegged (was it $460/oz? I forget) for Altintepe year two at the same price as year one, it has already seen a large fall in costs in Lira terms (tempered by higher fuel prices).

Altintepe must be looking incredibly profitable from Bahar's perspective, on paper if not actually on its balance sheet yet.

PoG is also soaring in GBP terms

hxxp://goldprice.org/gold-price-uk.html

with gains of a similar order to the Lira, which will obiously benefit little old STI when it finally sees some money.

It is worth checking out the graphs!

[shortarm] 13/1/2017 12:37

If I'm in em!

[soulsauce] 13/1/2017 12:18

But you like placings Shortarm.

[shortarm] 13/1/2017 12:16

It's been radio silence for a while now except the removal of the old self appreciating board.At least there have been No placings.All set ready for Marcus to deliver......

[exbiz] 12/1/2017 16:56

Well with todays fall I'm just waiting for the inevitable "Great buying opportunity" advice.

Seems we've had great buying opportunities for the last 5 or so years now.

What i'd give for an effing 'great selling opportunity !!'

[charles clore] 12/1/2017 16:21

Ah, that would indeed be nice, wouldn't it blobby!

[charles clore] 12/1/2017 15:47

blobby - apparently some mining contractor staff do have a Christmas holiday break. Eurasia for one I know as a fact only returned to work this week. Maybe it's different for coalminers though.

[steve1905] 12/1/2017 13:47

Pity we couldn't say the same for management.

[blobby] 12/1/2017 12:59

Charles, I'd be surprised. For example:

hxxps://thethoughtfulcoalminer.com/2015/12/22/christmas-at-the-mines/

"In today’s mines, production doesn’t stop unless something breaks down."

[charles clore] 12/1/2017 12:19

blobby - only because officially, H2 Altintepe ended on 31st December 2016 and I assumed there would be no production during Christmas week and up to the New Year.

[blobby] 12/1/2017 12:05

Charles,

"the third week in December, which was the end of the production year for Altintepe Madencelik and Stratex's FY."

How do you know that?

[charles clore] 12/1/2017 11:21

The weather was good up to the third week in December, which was the end of the production year for Altintepe Madencelik and Stratex's FY. So I don't envisage any 2016 production problems due to weather.