Stratex Share Discussion Threads

[steve1905] 28/4/2017 16:45

I'm here to suggest that a further funding of GRL and dalaphin will do nothing for the share price - on the contrary in fact

[blobby] 28/4/2017 16:02

Juju, are you still a shareholder? You've been consistently posting that Stratex is a poor investment for ages now and you have largely been vindicated, but I had thought that you were just looking for a suitable exit, so I'm confused.

For my part, after many years of holding Stratex and occasionally buying more I'm now out following news of the Altintepe deal. I've badly misjudged this unfortunately.

Good luck to all those posters I've followed here over the years, particularly those who have been open and honest with everyone (you will know who you are).

[charles clore] 28/4/2017 14:00

shorty - those near surface trenching results could indicate a very low cost surface operation processing oxide ore using the heap leach method. Drilling will reveal the bigger picture regarding mineralisation of course but at this point in time it looks very promising imho

[shortarm] 28/4/2017 13:27

So, Pandora vein....Superb trenching results - what will the drill say?

[charles clore] 28/4/2017 13:20

Tad - maybe their hands were tied on the PR aspect because Bahar was the majority partner and would not agree to release information to the public. This was a major disadvantage for about 6 years and because of it the market turned its back on the company. Now I can see no excuse for not having good PR. An opportunity for Marcus to show us his true mettle. Come on man you can do it!

[tadtech] 28/4/2017 13:00

Not forgetting that the 30% stake in Thani Stratex could be worth as much as the current market cap if the IPO goes ahead as planned in Q4

In respect of Marcus I think the more balanced here are prepared to give him some time, he is not helping affairs through poor PR, this has been a weakness of Stratex historically and I pointed this out to him very early into his tenure. I thought it would improve but so far no.

Look how approachable former peer company Ariana are in comparison, they are very PR active and happy to address investor concerns without any huff and puff. I still think Stratex have illusions of grandier for some reason only known to themselves.

[romeike] 28/4/2017 12:44

Can we stop kidding ourselves that 8m was fair value! We've plainly got out of a bad situation with about half what it was worth. The saving grace and where we should look for hope is that derisory as it is this cash has been received up front. If invested correctly now it could give us an equivalent or better return than would have received from Altintepe.

[eblitz1] 28/4/2017 11:36

Hi
I am invested in Stratex and have been for quite a few years and I'm showing a heavy loss. I do not often post on this site but I do look at it quite often. I am surprised that people are in one way or another having a go at the new CEO.

Why do you think he was put in this position in the first place?
May because the previous CEO was not up to the job.
Having been in a PLC at board level it is quite normal for new CEO's
to clear the deck and start again if things are not good.
People here are complaining about the monies given to us from our
Turkish partners however they were firmly in the driving seat.

Let's give the guy a chance now that he is clear of any distractions
and see what he comes up with. I get the feeling that people complain that
it was not a good deal however we got monies out and did not have to pay for
a court case regarding this problem. If Marcus thought we were in a strong
position maybe he would of done something else. It's very very easy to make
comment from afar and after the situation

[steve1905] 28/4/2017 10:15

Stratex would appear to have decided that this 'fair valuation' sale is unworthy of a follow up media interview.

[charles clore] 28/4/2017 09:56

Gf - if you think about it Marcus has delivered an early distribution of cash. A very large lump sum!

[greedfear] 28/4/2017 09:05

Why should the CEO be regarded as very capable since he has been in charge? Thus far he has only promised but hasn't delivered. He kept people in the dark (probably still doing that) and I believe has been misleading. Just days before selling Altintepe I feel he made us believe that a solution regarding distribution of cash was likely. Nothing pointed in the direction of getting out of the J/V.

[charles clore] 27/4/2017 22:00

d - thanks for sharing your findings with us. I think that, on balance, considering the difficulties encountered along the way with the Altintepe mining and forestry permits, the ongoing ancient artefacts and all the doubts and uncertainty expressed by so many on this thread, it was probably a good outcome to receive $8m net for our share. As your contact said, the company should now be viewed as a startup with a very capable CEO, several important assets and sufficient cash to make a difference. Not a bad starting point imho and I am prepared to accept that as it stands and take a positive view of the future. Good luck all.

[shortarm] 27/4/2017 21:22

Greedfeat, you're not sorry really are you.....Well, in a way you might be :-)

[greedfear] 27/4/2017 20:23

Sorry to say so but your report can not be trusted as nothing in it can be verified (persons, facts, opinions). Someone says something.

[soulsauce] 27/4/2017 19:06

Thanks Tadtech it might be worth Marcus saying something along those lines at some stage.
Those of us who own shares at AAU know only too well how long permits can take.
Anyway onwards and upwards - hopefully ;-)

[kingivor] 27/4/2017 18:44

Fair comments Tad and thanks for sharing.
Keeping an eye out for the drill results from the Djibouti JV.

[tadtech] 27/4/2017 18:40

I attended the Shares Magazine presentation last night and asked a few questions about Stratex to one or two folks with an ear to the Turkish mining sector.

It seems that there are some issues at Altintepe which are on-going, the difficulty in obtaining forestry permits is now hindering production as more ground needs to be cleared, this is not possible currently. Obtaining forestry permits in Turkey is a lengthy and difficult process.

It was also pointed out that the mine site is quite small and without a significant resource upgrade this would effect the projects value. Again forestry permits are essential.

Combined with the political and security situation + the aforementioned 'issues' maybe an $8m get out is not so unreasonable at this point.

A well regarded fellow, who knows the sector, said it is best to view Stratex as a new company, spoke highly of the CEO, adopt a wait and see approach, he also thought new projects have probably been identified by now.

[greedfear] 27/4/2017 16:38

What's needed is the CEO stating: we're going to cut down administration costs with ... to ....
Will he do that? Or will the board be rewarded extra (bonuses) for having closed the great Altintepe deal?

CEO's interests are not aligned with shareholders's. How many shares is he holding?

Edit: free options don't count.

[greedfear] 27/4/2017 16:33

First six months of 2016: administration costs 1.24 million GBP. Have there been drill programmes then?

[romeike] 27/4/2017 16:32

I expect we won't be seeing anywhere near the same level of non exec, former exec "consultancy fees" either

[exbiz] 27/4/2017 16:17

You seem to be judging the admin costs as being that of 2015 when they were drilling at Dalafin and involved with Tembo. I'd expect the admin to be much less for 2016 as there was no drill programmes operational whatsoever. We should find out imminently with the annuals overdue.