Stratex Share Discussion Threads

[romeike] 18/5/2017 10:49

Exbiz is correct, you are squabbling over the cost of the chicken feed instead of focusing on the eggs.

[steve1905] 18/5/2017 10:37

Looking like the market isn't too excited.

Knowing Stratex like I do, can't help thinking long term share holders will be rinsed.
I see that on the LSE bb, 'tracylied', better known as 'luckypunter' to us long termers here, has reappeared to damn this deal

[blobby] 18/5/2017 10:35

Another way of looking at this (that has just occurred) is that Crusader are taking over Stratex at a takeover price of 1p equivalent in Crusader shares. Presumably this is less than the cash and large shareholders might consider Juju's advice that Stratex should just wind up and give the cash back to its owners.

[blobby] 18/5/2017 10:30

dd,

I agree if the deal goes through this is all about Crusader. If you hold shares then you have to think about what will happen to Crusader on ASX tonight. If you think their share price will go up by the premium (56%) then the Stratex equivalent is 1.56p. I'd say that is quite a big call considering Crusader has a much bigger market cap.

If you think the deal will go through and Crusader's value is only slightly changed by this, then I'd say the Stratex share price must drop to the equivalent Crusader amount. 1 Crusader share = 6.60 Stratex shares.

One Crusader share = A$0.115 (6.55p) The equivalent Stratex share price is just 1p (give or take).

I'll look more at Crusader myself which may be a bargain and consider buying back at much closer to the ASX price.

(No advice intended by any of this, please do your own research as I may be totally wrong). If I am wrong will someone else please post a correction.

[romeike] 18/5/2017 10:28

@bandflex and others - no this isn't quite dilution - we are using equity to purchase 100% ownership of 2.7moz JORC-compliant assets and an operating iron ore mine that has at least another 2-4 years mine life left in it.

This means existing stratex shareholders will from day one of "new stratex" be in receipt of a revenue stream from a mine. A big change from our experience in Turkey.

The combination of these assets and stratex funds has potential to really shift the share price a lot more than any dilution.

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

It is worth noting that Crusader itself seems undervalued (as a lot of the sector is) at its current share price.

[luminoso] 18/5/2017 10:27

Cheers, daniel ( Vosene ) - always appreciated your posts on here over the years. good luck elsewhere.

[dogwalker] 18/5/2017 10:08

And surely not the time to sell.

[ryanandbethanjones] 18/5/2017 10:01

And TS is planned to float too so it will be an interesting year

[danieldruff2] 18/5/2017 09:56

Old Stratex now effectively extinct, think its existing assets will be sold off to concentrate on Crusader... smart move by Marcus, regardless of terms, they were never going to get anywhere by themselves. For old time followers there's no point saying any more as it's moving to a new place with a clean slate, good luck to those who stick with it, see ya all on other boards!

[romeike] 18/5/2017 09:48

This looks like a smart move.

[blobby] 18/5/2017 09:18

"not sure it's as good as some think." There are some simple calculations that can be done to see if this is good value for Stratex based on the market cap on ASX. It will be interesting to see what Cursader are paying in their shares for Stratex's cash, which is what they are after. As with the last transaction with Bahar, this looks like great value for Crusader. I'm very pleased to be out.

[luminoso] 18/5/2017 09:08

Yep, not the reverse take over I was looking for. Good luck everyone but not sure it's as good as some think.

[bigglesbingham] 18/5/2017 09:01

Final permitting? Therefore next step it raising capital to build the mine. They don't have a lot of cash. My concern is it will take a long time to realise profits albeit resource looks good.

[shortarm] 18/5/2017 08:55

Directors own 23%, 70 million spent, final permitting...Looks great at first read!

[tightfist] 18/5/2017 08:46

BB,I think we need to be quite considered about how we perceive Marcus. He struck me as a straightforward, committed and knowledgeable person, so my default has certainly moved-on from Cynicism or Incompetance.On the face of it this looks like an interesting HoA with Win-Win potential. ASX and Brasil (eg Serabi Gold) maybe have under-valuation tailwinds?Cheers, tightfist

[bigglesbingham] 18/5/2017 08:31

How close to production is crusader they only did resource update a year ago. Have they got a mine in place or funding for it, I can't find any info on it. If they haven't you will be talking years to get the potential realised or am I being too cynical???

[charles clore] 18/5/2017 08:30

The Stratex cash will be handy for extra drilling in Brazil where mineralisation is high grade and in plentiful supply with simple processing and low cost production imminent.

[bandflex] 18/5/2017 08:21

Sti are paying a 56.5% premium, so the AUS market valued the assets at considerably less than STI want to pay, its no wonder they say its good for Crusader shareholders.

How many of those 2billion shares will be sold as soon as they get the chance.

[tightfist] 18/5/2017 08:19

Thanks Charles, I will take a close look. I will be keeping an eye out for how the $8.5m raised last Autumn has added value.Cheers, tightfist

[ryanandbethanjones] 18/5/2017 08:10

depends on the value or worth of the assets contained in the larger entity too

[bandflex] 18/5/2017 08:09

400% dilution.

[charles clore] 18/5/2017 08:08

Looking at the Crusader presentation it is clear we are dealing with a very different animal compared to Stratex. Every word and graphic in that presentation is making the effort to help the reader understand what is being said. A very refreshing departure from what we have been used to. I think it will attract a whole bunch of new shareholders in the future. And I will say it, well done Marcus.

[bandflex] 18/5/2017 08:06

" Stratex has 467.3 million Ordinary Shares in issue. On the basis of the Exchange Ratio, Stratex intends to issue a total of 1,988.1 million Ordinary Shares to Crusader shareholders as consideration for the Proposed Transaction. "

Is that 2 billion shares to be issued, that's what I call dilution.

[goldenshare888] 18/5/2017 08:00

I may change my mind on Marcus.

This deal looks good on the face of it.

Happy to continue holding.

Cave paintings changed to :) :)) :-)) :-)))