Stratex Share Discussion Threads

[blobby] 18/5/2017 16:26

Charles,

I'd say 0.5p out of 1.4p is quite significant myself.

I agree with you that Crusader directors having some skin in the game is a good sign.

I'd also agree that it is important to know more before diving in, where will the share price settle, what are the plans for capital raising, will large shareholders agree to this, will Marcus have a role.

On a different point I hope the staff at Stratex are looked after. Claire seemed to be a good worker and there may be others as well.

For us (ex)long term shareholders... it's been quite a journey (downwards) and if nothing else this bb has been fun.

[charles clore] 18/5/2017 16:10

blobby - yes you are right about my trading and currently being underweight. This deal is so good imho that I don't think half a penny is significant in the scheme of things. I still have my core holding however but would like to see the deal firmed up before diving in for more. In a few weeks we should know.

p.s. - I like the fact that Crusader directors hold 23% of their own stock. It is quite a good sign imho.

[blobby] 18/5/2017 16:03

Charles,

I think learnt from your earlier posts that you trade Stratex shares from time to time. Obviously you don't have to respond to this, but don't you think the Stratex share price has to reflect that of Crusader by tomorrow. i.e either go to 1p or Crusader will have a huge rise when the ASX opens?

You talk about "pushing the boat out" so I presume you are underweight at the moment.

I'm amazed that there is not much trading at the moment by the way, considering the scale of this news.

[charles clore] 18/5/2017 15:45

blobby - let's hope Stratex learned from their past experience when they had a stake in Inlice, Oksut and lastly Altintepe. They cheesed off institutional investors with their board's unswayable insistence on using shareholders' funds for their own ends (including lining their own pockets) and those investors walked! This time I think we are (or hopefully will be) in bed with a totally different outfit and judging by the presentation I saw this morning the institutions will definitely want a slice of the new company - it's a cracker imho. I'm getting ready to push the boat out for a few more.

[blobby] 18/5/2017 15:18

Reading between the lines and from the interview it seems that a listing in London is another desirable for Crusader and they are getting that for free. The Stratex money is not enough to build a mine so the London listing will be used to "attract institutional investors" as Tad is saying. However we are back to square one with this. New investors will want a lot from the company and it will be risky for a long time whilst a mine is built in a country far, far away who have some locals already doing their own mining.

Am I interpreting this correctly?

Where is juju?

[tadtech] 18/5/2017 14:57

If the deal progresses the market cap will be large enough to attract institutional investors, that will drive a re-rate for sure.

Given the breath of gold assets Stratex/Crusader share price should be more aligned to movements in the gold price.

I am quite excited about the deal, finally and crucially there will be a new management team on-board, the Stratex of old is no longer!

[goldenshare888] 18/5/2017 14:44

so is ET and the Loch Ness Monster...

:)))

[shortarm] 18/5/2017 14:25

GRL have a partner that builds mines.... AAU got funding so it's out there....

[5huu] 18/5/2017 14:17

GRL Now looks pretty stranded!!

[5huu] 18/5/2017 14:12

Well we didn't see that coming quite so soon. Maybe partly explains the hasty giveaway price for Altintepe. Very clear that Crusader are interested only in Stratex as a funding vehicle. Again though Stratex are looking at mid to near term assets that have a massive funding requirement. Jury is out for me.

[romeike] 18/5/2017 13:47

Basically Crusader are getting access to the London market on the cheap, in return STI are getting their knees under the table on reasonable terms for what look to be very exciting near-production assets, far better than we might have expected Stratex to be involved with using the bit of money Bahar flicked at us after it threw us out of Turkey.

I love the way the interviewer paused and then stressed the word "negotiations" at 2 mins 11 secs. Made me laugh even though really it is quite sad.

[blobby] 18/5/2017 13:33

exbiz,

Can you get a quote to sell?

[blobby] 18/5/2017 13:30

exbiz,

If this goes ahead then the new deal making board will be these people:

hxxp://www.crusaderresources.com/corporate/board/

Led by "Mr Copulos is Non-Executive Chairman of Crusader Resources Limited and is the Company’s major shareholder and major financial supporter."

I'm not sure if I would invest in this lot yet but as Stephen Copulos has a meaningful stake I'd not rule it out. However I'm not going near anything that has anything to do with Marcus and we don't yet know if he fits in anywhere. I wonder if we will ever know how much he is paid which might be quite unusual for a CEO of an AIM company.

[exbiz] 18/5/2017 13:21

kingivor - shares not suspended, I just got a quote to purchase no problem

[tadtech] 18/5/2017 12:32

Clearly this deal is a good one I have no doubt about it, I am very contented to hold my position and will probably add further in due course.

As the Crusader presentation clearly shows there is significant room for upside from a plethora of their projects. This is where existing Stratex shareholders will benefit and with a London listing Crusader/Stratex should attract institutional investors.

I have to admit I was worried that Marcus was simply having strings pulled by the likes of Christopher Hall and Bob Foster and the Altintepe cash would be blown on excessive salaries and the like but no, this is a very positive move indeed.

I have no real interest in the short term share price movement be it higher or lower, I think anyone buying in around current levels will see exceptional returns in due course.

[blobby] 18/5/2017 11:33

romeike,

You may be right about the major shareholders. I've no idea if they knew or not. If they did know, then perhaps they don't really care about value for their organisations or are happy to have Stratex out of their task list after so many years. They are still left with Crusader shares to sell however and perhaps they think they will be easier to sell on than Stratex (maybe they will start selling short in anticipation).

Alternatively Crusader shares might rocket with the extra funding and in the end all shareholders will benefit. (Perhaps)

However if I were a large shareholder, I would insist on a return of cash and some shares in Thani-Stratex + Goldstone + whatever else.

Goldstone... where does this leave them?

[kingivor] 18/5/2017 11:22

Market reaction says it all. Crusader's due diligence will amount to nothing more than a sight of our bank statement, whereas the legals for us should be extensive.
May buy back in after suspension lifted.

[romeike] 18/5/2017 11:14

@Blobby I don't think anyone disagrees that Altintepe was sold cheaply. I wouldn't agree with "too cheaply" because I doubt we ever had much choice and that we are better off out of Turkey anyway. Whatever you may think about this merger, call it what you will, the larger shareholders clearly think it is a good idea or it wouldn't be happening.

The reverse takeover enables "new stratex" to retain its AIM listing.

[youngharry2] 18/5/2017 11:09

Not the reverse I was expecting. The market will let us know in due course as to whether this was 'accretive.'

Well done to Bob and Chris for bailing out and appointing Marcus to save STI from its death spiral of shareholder value destruction.

Bottom line though, would have preferred a takeover at a 56.5% premium to the share price ..

[charles clore] 18/5/2017 11:08

It's a steal. Juju should be pleased with this.

[romeike] 18/5/2017 11:03

Borborema Gold Mine

site owned 100% freehold
no additional drilling required, operating Licence granted; Environmental permits approved
Road, power, water,labour already in place

Stage 1 Borborema is expected to have a mine life between 8 and 10 years

They are aiming to start gold production from high grades this year

[blobby] 18/5/2017 11:03

Exbiz, it's not really about Marcus "overpaying". It is Stratex that is being bought and not the other way around. The question is whether Marcus has sold out too cheaply.

I thought he sold Altintepe too cheaply and I now think he is proposing the sell everything left including the cash too cheaply. I'm amazed the larger shareholders are putting up with this.

I'm looking forward to seeing what role Marcus is given in the new company.

[tightfist] 18/5/2017 10:49

I guess that Marcus has already got the large shareholders on-board, otherwise a move to monetise TS and wind-up STI distributing our cash may just succeed.Alternatively it all comes down to what value can be added to Crusader with our existing cash, (and Marcus' access to capital markets?).Cheers, tightfist