Stratex Share Discussion Threads

[romeike] 08/9/2017 09:59

It did strike me in the report that if these assets were worth so much in the post merger company why were they being valued at zero in the deal.

However returning cash to shareholders now would simply mean locking in large losses for most. The General Meeting request sounds like a waste of company money and focus.

[keya5000] 08/9/2017 09:51

pet troll following me how nice.

[blackss] 08/9/2017 09:51

keya, i need a BJ are you free ?

[broken_arrow1] 08/9/2017 09:43

Break up value seems well above the current share price

According to the new Hannam & Partners note - their valuation of Stratex assets are

Cash $7m
Thani stake $4.7m
Goldstone stake $3.7m
Muratdere $2.4m
Dalafin stake $3.5m

Total $21.3m (£16.3m) or 3.4p a share

[keya5000] 08/9/2017 09:36

Got to be honest the other recent RTO of a UK listed AIM company (STGR) by an Australian 'consortium' did not end well.

Asset stripped it, bummed it and took all the cash leaving zilch for the holders.

[5huu] 08/9/2017 09:34

Too little too late I fear. It is bordering on criminal what has gone on here. You just don't give away your main asset for peanuts and throw everything into a new venture in that short time frame without some premeditated actions.

[blobby] 08/9/2017 09:32

Interesting. Good luck juju. I can't understand why you have been locked in as a shareholder all these years but I'd like to see some fight back against directors acting against our interests.

[juju44] 08/9/2017 09:26

Watch this space. These clowns will get their overdue comeuppence

[shortarm] 08/9/2017 09:22

Juju, you sound like part of 'a group of shareholders'.....Sounds amateur to me in that the requisition is not legal!

[juju44] 08/9/2017 09:19

Off with their heads .Sack them all

[juju44] 08/9/2017 09:07

This could be a long overdue step to dump the idiots stealing our money

[broken_arrow1] 08/9/2017 08:59

Came as a shock - but what is their plan? To succeed they need to have an obvious plan to enhance shareholder value.

Usually you get a statement of intent from the requisitioners

Note the major shareholders include

AngloGold 11%%

Blackrock8%

Teck Resources8%

[juju44] 08/9/2017 08:37

It has always looked like Englebrecht raiding STI treasures to give the takings to his Aussie cronies . Trust no one in this game

[juju44] 08/9/2017 08:35

Resign you dummies and give us our cash

[charles clore] 08/9/2017 08:35

Could finish under a penny at this rate. Shareholders are fed up.

[goldenshare888] 08/9/2017 08:35

Valued less than cash?

Takeover?

[goldenshare888] 08/9/2017 08:32

This may yet turn out ok, time to sit tight and see what unfolds I reckon.

Pleased not to have added anymore here.

[tadtech] 08/9/2017 08:21

No idea who is behind this but there was a post on the other BB, coming from a new account, some considerable time ago, suggesting two of the major shareholders were not on-side with the deal.

I confess my initial reaction was the deal was a poor one. Since those early days more info has come into the public domain, the fact that Hannam & Partners suggest the Borborema site was one of the best they have ever visited in terms of infrastructure enhanced my personal view the deal was not a bad one after-all.

We need to know who is behind this move and what are their proposals. It could get interesting.

[highly geared] 08/9/2017 08:20

Interesting. Ironic that the Crusader deal gets near a few months after Altintepe sold into a rising gold price , ditto stakes in GRL and Thani being heavily diluted just as gold takes off.... Swings and roundabouts but no one seems to likes the Crusader deal; too much dilution having been hammered for 4 years by poor board decisions. Just when gold recovers and those assets might come back, we're diluted to oblivion.
I'd stopped looking here and put my losses down to " experience "

[goldenshare888] 08/9/2017 08:18

LOL - You could not make this up!

This TURKEY may just turn into a stool pidgeon!

[shortarm] 08/9/2017 08:13

Tad.... Your mission is to find out who did that!Group of losers or someone important.?

[goldenshare888] 07/9/2017 17:06

It would then be a big bet on a large hole in the ground near a Brazilian rainforest?

$100m will hopefully fund a very big hole for Stratex directors to immerse themselves in for a few years! LOL

:-0

NB. It could still hit or exceed 3p or 60p post consolidation though.

GOLD at $2000 and this could do very well indeed.

[romeike] 07/9/2017 16:41

Where is the US$100m going to come from to build the mine at Borborema though?

And why does it take over a year to get the final permit when they already have pre-permits for Borborema ?

And based on the following quote from the report:

"Following recent announcement of the sale of the Posse Iron Ore mine in Brazil for US$2.6m, we expect further streamlining of the Stratex portfolio, allowing the Company to focus on reaching its goal of becoming a profitable mid-tier gold miner."

We should definitely expect to see assets flogged off - I wouldn't be surprised if this included Muratdere, Goldstone and Thani stakes.

[tadtech] 07/9/2017 16:12

bastiat79

The market, so far at least, fails to recognize the value, it is only a matter of time though. The target price of 3.18p could be a conservative one should gold continue it's bull run.

I believe the broker coverage is very concise and actually does show how cheaply Stratex have acquired these gold assets for.