Stratex Share Discussion Threads

[oliversanvil] 15/6/2017 16:37

IF EVER A FIRE STARTS IN A TOWER --BEFORE YOU LEAVE THE FLAT/ABODE --TURN ALL THE WATER TAPS ON WITH THE PLUG IN SINKS AND BATH( plug up overflow or break a hole in basins/baths SO THEY OVERFLOW AND HELP TO DOUSE DURING EVEACUATION !!! or turn taps on and break /pull out ubend under sinks.Take washing machine/dishwasher hoses off or cut to flood the floors

[georgesorrow] 15/6/2017 15:37

The STI share price becomes pretty irrelevant from here on, unless you're a holder wishing to exit before the deal completes. It's all about CAS now and what value the market puts on the Newco post-deal and post-consolidation.

[juju44] 15/6/2017 14:06

Robbed by stealth. What a crooked corrupt casino this is

[kingivor] 15/6/2017 13:54

First thing post consolidation will be to place equity.
LTH's very screwed here.

[5huu] 15/6/2017 13:39

The deal had been greeted here with nothing but sells, so the market looks to be making its position clear. IMHO That's because of the paltry value our own CEO has placed on all the Stratex assets he is including in the deal & the premium he is paying for Crusader. We will see later tonight the ASX reaction to the deal. You would expect it to be positive due the valuation placed on Crusader, but the previous deal announcement barely had an impact.No surprise for me then that I expect it to fall further. Especially with consolidation looming.

[greedfear] 15/6/2017 13:19

Tad- true, I for one expect the STI share price to fall further because of reasons stated here by multiple posters and believe that will provide a better entry point (once the R/S has taken place). I could be wrong and have been many, many times.

[shortarm] 15/6/2017 13:14

I also thing once things bed down the future is excellent

[charles clore] 15/6/2017 13:10

Well Blow the calculations, the dilution and consolidation, I am holding and will probably add on any attractive dips. I think the prospects are amazing.

[5huu] 15/6/2017 12:52

Also worth noting the further this falls, the poorer you get.

[tadtech] 15/6/2017 12:47

It is also worth noting the lower STI falls the better the entry point into the NewCo, I am sure a few have worked this out and may be posting accordingly!

[juju44] 15/6/2017 12:46

Cash would not have dwindled if they had given it back to the owners - us . Come on Englebrecht give us our money now - stop giving it to your Crusader cronies

[5huu] 15/6/2017 12:44

Tadtech, your last post is laughable. Using market cap figures when gold was flying is totally irrelevant. The one person that has destroyed shareholder value is your all conquering hero new CEO. The skin in the game is coming from the Crusader side, who's white knight Marcus has just rescued their investment.Pain before Gain? Selling & buying Some Crusader shares can buy you all the Thani assets, our cash balance for circa 20% dilution. Try getting that from the likes of Lansted.

[tadtech] 15/6/2017 12:33

Market value of CAS is currently circa A$36m (£21.6m) + you have to add the value of Stratex market cap (£7m) to the equation, they are issuing circa 2b new shares + 476m existing Stratex shares. I make a current market value of nearly £29m.

The drop in the Stratex share price reduces the value of the offer to Crusader shareholders right now, for every .10p it falls they loose £2m, it was pitched at 1.55p.

Also, whilst I think the offer is a poor one for Stratex shareholders, something I have made very clear to the company in two emails which received replies, it should be noted that Crusader hit a market cap of £75m back in 2011 when their projects were significantly less advanced.

A great deal will depend after the event, will institutional investors buy into the new company, will the new company be popular with retail investors, they say they will promote it aggressively, for once the new board will have significant skin in the game, over 20%, there will clearly be significant operational news-flow to excite the market + the potential of near term production.

In conclusion I am viewing this as pain before gain, clearly something had to happen, the old board of Stratex had no idea how to deliver shareholder value but now we have a new board incentivized to deliver.

Had they just carried on regardless the cash would have dwindled as would the share price.

[5huu] 15/6/2017 12:27

I can't disagree with your calculations George. So it's a 1p valuation with all the downside consolidation risk to come. No wonder the sells continue.

[5huu] 15/6/2017 12:06

I noticed he's also agreed to provide them interim funding!

[juju44] 15/6/2017 12:01

Agree about consolidation - rarely a winner . He sure has done Crusader a big favour giving them our money

[5huu] 15/6/2017 11:56

Its certainly starting to look that way. We all knew Marcus gave away Altintepe. Against my better judgement, I stayed put based on our NAV & Thani prospects and partly hoping that Marcus had his eyes on a distressed asset, but these valuations just don't stack up. He's firmly shafted existing Stratex Shareholders structuring the Crusader deal in this way.That's not to say they can't unlock value in the Crusader assets & make a success for shareholders of the new Stratex, but I've lost all faith in the guy. Right now there isn't even a market for our shares. Consolidation scares me as I've never been on the right of end of one. All in all, we've been well & truly screwed over.

[juju44] 15/6/2017 11:33

Has the whole thing been a manipulated stitch up . Get Aussie Englebrecht to join STI , dump Altintepe at any price and manipulate STI cash into CAS for his Aussie buddies

[georgesorrow] 15/6/2017 10:41

Some entertaining arithmetic, please feel free to point out any errors on my part.

Deal values CAS at A$54.2m or £31.1m, conversion factor 0.574 GBP to the A$.

Market value of CAS is A$34.62 or £19.87.

Assuming current market value of CAS is maintained at the point of deal for the sake of calculation, Newco market value would increase to £24.53m (STI holding 19% of enlarged share base; CAS holding of 81% of £24.53m being worth current vale of £19.87m). CAS is diluted by 23.46%.

STI's 19% share of Newco at this valuation would be worth £4.66m, two thirds of STI's cash in the bank.

A valuation of £4.66m for STI gives a share price of 1.00p.

With joint AIM + ASX listing now assured, this looks like a very nice deal for CAS shareholders. STI's cash alone, without any assets, is worth one third of CAS current market cap.

[greedfear] 15/6/2017 10:12

A R/S 20:1. :(

[charles clore] 15/6/2017 09:32

20% up on opening but fading away as reality sets in. I really do wonder what the consolidation price will be... eek!

[soulsauce] 15/6/2017 08:32

Yes all looking like a goer, can't say I am a fan of consolidations though.

[1candc] 15/6/2017 08:19

juju44 'need something to get cheery about here'

Since when have you ever done cheery? You make Victor Meldrew sound like a motivational speaker!!