Stratex Share Discussion Threads

[charles clore] 17/5/2017 09:06

Steve - forgive me but I am really surprised you are still here. If I felt half as strongly as your negative spin suggests I would be long gone by now.As a matter of interest, apartrom salaries, what would you say the £2.8m admin costs are attributed to? Severance payments perhaps? Maybe we should have kept Bob and Chris, oh dear me!

[juju44] 17/5/2017 09:01

Sad place now compared with the hope a few years ago and targets in double figures. Given a decent base , company success is all about management. It has been the pits here with Bob and his crew but nothing appears to be getting better and share price is worse than ever. They should wrap it all up and give the cash out to us.

[steve1905] 17/5/2017 08:54

Someone raised the issue "would you buy in now?". After yesterday's news, you have to wonder who will. £2.8 million admin costs is absolute!y scandalous - despite the small drop from previous year, that is incredible cash burn. More galling, it's impossible to actually understand what they spent it on - besides their salaries.
A new CEO who is all but anonymous, who has failed to provide a planned strategy.
In Stratex style, I expect them to keep the GRL gravy train rolling and to throw more money at Dalaphin - so devoid of business ideas. No doubt the market will treat those two imposters with the derision they deserve.

[5huu] 16/5/2017 23:08

Agree with most posting today. What a disappointment

[tadtech] 16/5/2017 21:50

The new CEO was only appointed in September 2016 so he is unlikely to be able to add comment on the full year in this results statement that closed in December.

I will be attending the AGM this year and I hope others will also, I am not the type of person to mince my words at such events. It does seem the new CEO is not responding to shareholder emails. I have emailed him directly 3 times and have received no reply. That is totally unacceptable especially as I have met him personally.

I am hoping, given the 'clues' in the Ashwood statement that a deal may not be far away. There had better be one coming soon!

Clearly many individuals have lost large sums of money in Stratex, especially buyers before mid 2104, it is understandable that there are some very sore folk posting here, that does not help sentiment of course.

As mentioned in an earlier post I have seen this type of situation many times on AIM, it is amazing how from the very depths some stocks are capable of exceptionally strong recoveries, often beyond investors wildest dreams. Will this happen here? It is anyone's guess, it depends on the next deal for sure.

I will continue to hold as I see value from current levels, the cash position on 31st December was better than expected, they probably have £7m+ currently, there is significant value in the 30% stake in Thani-Stratex, that could equate to £6m if they IPO as expected. Current market cap is £7m.

Worth remembering the shares have held in a tight range since early 2015 and are approaching the bottom of that range. That could entice some traders.

[steve1905] 16/5/2017 21:33

What a complete pile - I defy anyone to find any encouragement in that report.

[novicetrade68] 16/5/2017 20:39

A delayed 1m buy at 1.4875p was probably the reason it bounced from the low this morning. Seems there is at least one believer!

[corguv] 16/5/2017 18:50

An Executive Chairman's responsibility includes

'Ensuring effective communications with shareholders'

[juju44] 16/5/2017 18:42

Exec chairman.

[sicilian_kan] 16/5/2017 18:12

juju it is perfectly normal. See for example:

[juju44] 16/5/2017 17:56

Agree about no CEO statement. WTF is going on here. Has he done a runner already? He has'nt much to be proud of for his tenure so far

[greedfear] 16/5/2017 17:53

It's highly unusual that the CEO's statement is lacking in the final results. Truly don't know what to make of that. Maybe it's time for holders to ask themselves the question if they had no position would they invest in STI today?

I've no position and I can truly say that I would not invest, not even a single penny, not today.

[bigglesbingham] 16/5/2017 16:50

I'm out at a loss but the lack of transparency regarding the £2m owed and rather than mention it they say they received a great deal for sale is deceitful and management cannot be trusted imho. My main criteria is management, skin in the game which has come from their hard earned cash and the way they conduct themselves i.e. AAUs management as a good example. Here don't feel it so I'm out!!

[blobby] 16/5/2017 12:10

luminoso, that is an interesting thought. I also like the TS prospects. However I'm now very unsure about Marcus following the Altintepe deal and lack of openness and transparency. TS is more of an exploration company than production and I'd say it needs a different skill set.

[luminoso] 16/5/2017 11:41

Only a reverse takeover by TS would bring me back into the fold. Flog the GLR holding and everything else and become a listed shell for TS to reverse into. Then I am interested.

[kingivor] 16/5/2017 10:36

Disgraceful company costs.
Sorry to say that LTH's will likely do their money on this DOG.

Also they seem to want to throw more funds at Dalafin, ffs!

[blobby] 16/5/2017 09:58

SK, Marcus has not impressed me yet and I think there has now been plenty of time for this. Why do you think he would be trusted by existing contacts with more money? Is there anything in his record that indicates this kind of following and trust?

Why was there no CEO report in the Annual Results? Is he ill?

[sicilian_kan] 16/5/2017 09:42

Marcus has always had bigger intentions than Stratex's holdings. He wants to be a 100,000oz per year producer.

Clearly Stratex is a corporate vehicle with some cash, a well established mining structure and with experienced employees, with which he can do this.

I also cannot see, as I have stated before, £6m going anywhere in terms of buying interests in mines. Marcus says he also has existing contacts who are willing to invest in him. I would expect Stratex to merely be a vehicle for a much larger purchase.

Of course that will entail a large amount of investment and massive dilution to existing shareholders if I am right. But you will have a smaller part of a better and bigger pie.

I have been out for a while now and continue to be out but am watching.

[corguv] 16/5/2017 09:35

Other than the sale of Altintepe what was
'Achieved' in 2016 with £2,800,000 'Administration Expenses'

Flog off Altintepe for equivalent of around couple of years Administration Expenses ? Normal ?

I no longer hold so will close and leave you in peace CC

[juju44] 16/5/2017 09:30

What has Englebrecht done in 8 months other than give away the crown jewels for a pittance

[greedfear] 16/5/2017 09:23

Well, it shouldn't be. What exactly are they doing for that money to create shareholder value?

[charles clore] 16/5/2017 09:20

Don't be alarmist guv. You know that is perfectly normal for Stratex.

[corguv] 16/5/2017 09:04

£2,800,000 Administration Expenses.

Unbelievable.