Stratex Share Discussion Threads

[longshanks] 18/5/2017 07:58

Such a deal was needed but I guess the issue here is that STI are paying a decent effective premium to "acquire" Crusader and this will (at least in the short term) devalue STI by a commensurate amount. Long term though this makes STI into a very different beast: with a better diversified portfolio of assets.

[charles clore] 18/5/2017 07:54

The benefit of having a businessman in charge of the company instead of geos was never clearer than today. A great move for Stratex and Crusader and, if he can pull it off, vindication for Marcus.

[ryanandbethanjones] 18/5/2017 07:49

Seems to be some positivity on this board now which is good.

Primer on Brazilian mining I came across on t'internet.

hxxps://assets.kpmg.com/content/dam/kpmg/pdf/2016/01/brazil-mining-country-guide.pdf

You will have to change the 'xx' in the first part to 'tt' to be able to read it

[soulsauce] 18/5/2017 07:48

So using our cash we can prove that 2.7m oz up and add significant value.

[highly geared] 18/5/2017 07:46

Well, we all wanted change and now we've hopefully got it. More STI being reversed into a larger entity. As with all these things, hard initially to assess how it will affect our holdings in STI but it ultimately has to be a good thing and takes us in a better direction than the last 5 years.
Fair play to Marcus; the reason for the exit of Altintepe is now clear , all things being equal it was probably the correct move based on today's announcement.
Will be interesting to see what the Market thinks.

[tadtech] 18/5/2017 07:41

There seems to be room for significant upside in Crusader/Stratex even accounting for the 60% premium.

Crusader in yellow

[soulsauce] 18/5/2017 07:32

Well that's a turn up. I would think Marcus has been working on this for some time.

[tadtech] 18/5/2017 07:28

I assume the deal has the blessing of Stratex's major shareholders, it looks a good one and finally incorporates real assets and above all else a new management structure.

Brazil is a upcoming destination for major resource companies so the deal is well timed.

[bigglesbingham] 18/5/2017 07:26

Good value for crusader it was !!! 69% premium. So effectively same position as two years ago but different partner.

[sicilian_kan] 18/5/2017 07:26

No surprise at all. Smaller piece of a bigger pie was always on the cards as I said in the last week but shareholders here were too miserly towards Marcus.

[ryanandbethanjones] 18/5/2017 07:25

I'm reading the HoA information at the foot of the RNS. Lets hope the lawyers have reviewed this in greater detail than what happened at Altintepe.

Could do with some BRR video interviews now so Marcus can go into the detail

[exbiz] 18/5/2017 07:23

Stunning !! Just had a quick look over Crusader Resources recent presentation and it looks almost too good to be true. A producing Fr mine that's produced over $38 million of ore to date which supports gold exploration and a couple of, as promised, near term gold producing assets. Marcus has been more than busy and he may well have the Midas touch after all. I will look at there most recent results but on the surface this looks like a quite stunning bit of business.

[keya5000] 18/5/2017 07:23

Big premium for what appears to be a 'merger' to get their hands on STI cash.

[luminoso] 18/5/2017 07:23

Isn't it a takeover of stratex at 1.56p in reality ?

[luminoso] 18/5/2017 07:20

I like the way he says it's good value for Crusader shareholders !

[ryanandbethanjones] 18/5/2017 07:18

Well that RNS was a bolt from the blue. Crusader resources listed on the ASX



Just going to take a browse on their latest presentation

hxxp://www.crusaderresources.com/wp-content/uploads/2017/05/Brazilian-Gold-Presentation-Final-9-May-2017.pdf

Looks like Marcus was busy all along.

[romeike] 17/5/2017 22:35

We can only hope that Marcus has retained Camarco for communications advice on something important. If he just retained them because the cash is burning a hole in his pocket and thinks he needs to have an expensive "pr outfit" on hand to make him feel important then I'm sorry but that is an inexcusable waste of shareholders money.

These are the people who's time we are spending good money on:

Billy Clegg, Partner
particular experience advising energy and resource companies and retail and motor retail companies on financial calendar communications, investor relations, IPO, complicated M&A and on shareholder activism situations

Gordon Poole, Partner
particular experience advising mining and resource companies on their financial calendar communications, developing integrated engagement programmes, investor relations, IPO, international M&A and crises communications

Nick Hennis, Senior Consultant
financial calendar work, M&A, crisis management and how to develop an integrated engagement programme with key stakeholders

[juju44] 17/5/2017 21:37

Yellow jersey were some help . All these goons just a waste of our money and indicative of the incompetence of the board.

[sicilian_kan] 17/5/2017 21:33

Yellow Jersey Mk 2??

[steve1905] 17/5/2017 19:56

Thanks tad.
Interesting that Stratex have appointed a new PR Company - maybe they should look closer to home.

[blobby] 17/5/2017 15:04

Tad,

Well done on receiving a reply and on your efforts to defend what you see is value here.

On the Turkish sale, we’ll never know if they could have received a better deal, however they didn’t seem to be trying hard enough to me. They were not even open with us that they were selling and to get the best price you have to shout out to the whole world that you are looking for offers. Did they try to sell to a competing Turkish miner or any other company with stronger resolution? Why not publish a few more figures and be a real pain to Bahar when they were ripping off the company. Now Marcus has been walked over by Bahar so the next partner will also think they can do the same.

Stratex do not need to spend more money on PR. They just need to do the basics, communicate with shareholders, be open and transparent with RNSs, have a CEO who can provide a report for the final results, do regular RNSs and interviews for shareholders. Marcus is much worse than Bob ever was on the communications front. Where are the interviews following the Final Results?

[juju44] 17/5/2017 13:59

Yawn , same old , same old. By their deeds shall ye know them

[tadtech] 17/5/2017 13:30

Well I received a reply to my heavily critical email.

It seems they are sticking to the line that the sale was good value based on the political turmoil in Turkey. Rubbish of course! They suggest the money will enable them to secure near term producing asset(s)

In the recent statement it is clear they were stitched up by the Turks, no matter how much the legals were dotted or not historically, what chance does a foreign entity have in a Turkish court these days?

It is not inconceivable that they could buy into a project for a reasonably modest sum, there is still little real hard cash out there with many distressed assets around. I was speaking with Colin Bird recently who was amazed how much nearly new redundant plant is kicking around the sector, some costing 10's of millions of $, going for a song.

I made it very clear the company needs to step up and massively improve it's PR and IR, to this end they have recently appointed Camarco who boast many blue chip clients.

I remain convinced some deal is cooking and I would not want to be out if/when it arrives. The new CEO has many contacts within the sector, these could be very useful.

I stand by my view that I consider there is value here, will not be selling despite my huge disappointment over the Altintepe fiasco.

[goldenshare888] 17/5/2017 11:57

The recent fire-sale asset disposal in Turkey must surely rank as one of the worst negotiation results/deals in mining this year and that was before we discovered $2m was owed to us anyway, so we only received $6m for 45% of a producing mine that cost at least $39m? to build, ffs!!!

The Turkish owners must still be laughing at Stratex management!

;-? :-! :-( :-(( :-o :-!! :-0 :-((( :-O

Turkish cave paintings of Stratex management faces before, during and after the deal.

NB. Could equally apply to Stratex shareholders!

What a farce.

[corguv] 17/5/2017 10:24

The £2.8million was spent on a costly London Office and the West Africa 'hub'
An unbalanced company with over large overhead costs and expenses.

CC do you know what the severance pay outs were or not ?