Stratex Share Discussion Threads

[shoggoth] 24/9/2017 23:20

I'd always wondered whether proactive were that impartial. Now I know, they are a paid mouthpiece for companies.

[romeike] 24/9/2017 21:34

Looks like Proactive Investors took down the share price Angel morning briefing from their website following their interview with Marcus yesterday.

[romeike] 23/9/2017 23:03

Marcus has been interviewed over the phone on a Proactive Investors piece about the deal. A typically poor showing, he stumbled and failed really to make any case at all, relying instead on vague accusations and half-truths about the requisition shareholders followed up with the same old line he's trotted out about the Crusader assets from the start.

hppp://www.proactiveinvestors.co.uk/companies/stocktube/8129/stratex-international-s-marcus-englebrecht-to-vigorously-defend-crusader-merger-8129.html

I wouldn't bother watching unless you have time as it really adds nothing whatsoever to the ongoing farce growing here. It's really annoyed me that there's obviously been a potential link up on offer with Thani Stratex for some time but Marcus has kept shareholders in the dark while he pursues his own agenda.

[tadtech] 23/9/2017 19:55

Requisition website has been set up, for shareholders in favour of stoping the merger with Crusader Resources and remove the CEO & Chairman from the Stratex Board.

[georgesorrow] 23/9/2017 19:45

SK, if by "the most valuable asset" you're talking Pandora, STI is already down to 15% I think, as an investor was brought in to pay for drilling in return for 50%.

With 400% dilution, of course, this would effectively be 3.75% for LTHs (almost down to NSR levels), and just 7.5% for the rest of Thani Stratex.

[corguv] 23/9/2017 10:43

SK
Thani-Stratex (previously Thani-Ashanti and Stratex) Egypt and Djibouti projects seem to be the focus ?
The Crusader deal will be certain drowning by dilution. The alternative is being thrown a life belt by large well respected international mining companies who can see through the Crusader deal and as Stratex shareholders as well their interests are aligned with those of PIs'.
There are two choices indeed Crusader Englebrecht financial death by drowning or employing Stratex cash to better advantage and In shareholders interests.

[corguv] 22/9/2017 20:08

His own and his mates ?

[romeike] 22/9/2017 20:04

Yes I would not be surprised to discover that Stratex were on the hook for more than they wanted to pay to further extend mining operations at Altintepe, but that rather than admit this major error in their calculations they chose to sell out.

I still find it extremely odd that RNS from Marcus one week saying everything was sorted and looked forward to an exciting update on progress at Altintepe and then the next week the awful RNS that he'd sold our stake there for a pittance.

I think the guy lives on another planet tbh.

[romeike] 22/9/2017 19:39

I think David Hall implies in his correspondence that the fault for Altintepe lies firmly with Stratex lack of mining experience. And suggests they are about to repeat this error again with Crusader.

[exbiz] 22/9/2017 19:37

sk with the Crusader deal we lose our cash (and pretty much our shareholdings)straight away.

With the shareholders proposition to kill the deal and replace the incumbents we do at least have our cash for a while longer, some time and new board members who have their interest aligned with common shareholders.

[corguv] 22/9/2017 19:36

No correction Turkey was and is the onlycountry hub and Turkish projects are the only projects to produce a cash return for Stratex.
On behalf of Stratex Board and this BB I apologise for sh*t comments by those concerned and thank you for your success on our behalf.

[corguv] 22/9/2017 19:29

Romeike
Do Claire's comments apply to all those excellent Turkish employees who worked so hard and successfully being the only Country hub to consistently pour cash back into Stratex with winning results at Oksut, Inlice, Karaagac, Altintepe pouring very large sums into Head Office to see them all squandered, wasted and in the end to hear nothing but sneers and smears from this disgraced bunch of directors, (if you can believe them which I most seriously doubt ? ) about Turkey, Turkish business partners (does this include Muratdere which is ongoing and all those great teams of employees and managers who worked for Stratex ? The Board of Stratex and those who criticised 'Turkey' are a bunch of sh*ts biting the hand that fed the company for the past seven years.

[sicilian_kan] 22/9/2017 18:50

It's like being Prince Charming and going to Cinderella's house and having to choose between the two ugly sisters.

[romeike] 22/9/2017 18:09

Yeah. All you need to know about this sorry tale is that Marcus proceeded with a transformational deal without even securing the support of key shareholders. This alone to me says he is unfit to be CEO. The rest is just window dressing.

[goldenshare888] 22/9/2017 17:11

Me too, they are just backing their existing bosses and like them probably have very few shares and possibly none they have actually paid for!

The incumbent management have badly miscalculated in my view.

[romeike] 22/9/2017 16:51

I received a reply from Claire at Stratex which says that all the employees at Stratex support the reverse takeover and that some of them are even shareholders. Stratex will be putting out information over the coming days to convince us that it is the best option for the Company ahead of the EGM.

I will still be voting against the deal regardless.

[romeike] 22/9/2017 15:34

you are correct, I reckon 3 years for mine build and financing, then four to five years to break even on mining costs, leaving maybe six years to pay off all the other huge liabilities etc.

Shareholders stand to make nothing while directors gouge on salary and rewards for failure.

[romeike] 22/9/2017 15:32

I believe it's by simple majority, so 51% of total valid votes received on the day. Apathy is the big danger here but if everyone who cares enough votes we should see the Crusader deal rejected with Marcus thrown out of his job.

[exbiz] 22/9/2017 15:28

Engelbrecht talks of a mining decision in 12-13 months with production 12 months after that but in reality with delays, weather, snagging and ramp up to full production there is little or no chance of revenue coming out of Crusader for 3+ years, so while he can take a pop at TS as very early stage the probability of a return from TS within 3 years is surely much, much greater. Either by way of a listing or resource definition leading to a sale or jv. He still made no mention of the ridiculously profligate management structure that the newco would have and how that would impact on admin costs and ultimately bank balance and dilution and rights issues going forward.

[novicetrade68] 22/9/2017 15:21

I would love to back New Stratex but how many votes do they actually need to send off Marcus and cancel the deal?

[goldenshare888] 22/9/2017 15:18

Desperation from "current" Stratex board.

They do not have long left and the Crusader deal looks holed below the water line, thank goodness!

Excellent job being done by Thani, Anglogold & Teck etc etc

They want to protect their investment as shareholders in Stratex.

I suggest every single sane shareholder backs them.

[shoggoth] 22/9/2017 15:13

Engelbrecht had plenty of time to respond to shareholders emails but did not. It is too late for excuses.

[tadtech] 22/9/2017 14:52

More media from Stratex today. Still does not address the significant dilution, deal premium, excessive salaries or how $100m will be raised.