Stratex Share Discussion Threads

[jimbowen30] 01/11/2017 11:40

Wow. Glad to see justice has prevailed. PA needs to go.

[romeike] 01/11/2017 11:38

Thanks Tadtech.

What a strange set of results. The most important thing is that the deal is stopped.

PA should of course resign in favour of Paul and David. But I wonder what the board will do.

Did Marcus cry?

[tightfist] 01/11/2017 11:37

The meeting finished about 30 minutes ago, after a poll and lengthy adjournment. An incredibly close run outcome, two resolutions passed, three resolutions failed.

I think it right that everyone awaits the RNS.

The Private Investor was really heard today, tightfist

[run12] 01/11/2017 11:37

Thanks Tad - much appreciated.

[glibgibon] 01/11/2017 11:34

Thanks Tad

[tadtech] 01/11/2017 11:31

The vote has concluded By a small majority the CAS deal will not proceedBy a small majority Marcus has been removed Peter Addison remainsDue to a miswording Paul Foord and David Hall are not elected

[romeike] 01/11/2017 11:07

They might have started the meeting with a presentation to try and sway votes. But I was expecting the vote to be over by now. Hoping the quiet here isn't a bad sign. Looks like if the deal goes through next Feb advisory fees running into the millions will be due eating through all of Stratex remaining cash reserves and possibly also some of the cash from the inevitable raise.

Even if they lose Marcus could try to cause further problems but he'll be heading into dangerous territory if he chooses to raise the stakes in this way.

[shortarm] 01/11/2017 11:05

Is nobody sat there taking notes!?

[goldenshare888] 01/11/2017 10:52

Exactly.

Viva la Requisitioners!

[glibgibon] 01/11/2017 09:56

Its not uncommon to suspend shares before the result of a large vote is announced. I wouldn't read anything into it, but hopefully we have a RNS by 10:30 (edit: wishful thinking - probably 16:30).

MckHenry - Some shareholders here think that paying $0.18 AUD per share for CAS is overpaying although the last broker note valued Juruena & Borborema at $0.20 AUD. So that's without the other assets. Stratex were valued basically on a cash only basis in the deal and their assets such as 30% stake in ThaniStratex were ignored. That's what has so many here riled up. We haven't made any money from TSR and probably won't for a number of years but some think Stratex were in a position of strength and could have got a better deal for shareholders.

Not sure about Stratex being a failed speccy stock, but its true that shareholder value has not been forthcoming and delivering on projects has not materialised. We owned 45% of a newly producing gold mine in Turkey (Altintepe) - our holding was valued at £15.2m in Aug 2015 (production started in November) and sold it for basically £4.65m (Net) in April. (Part of the US$8m sale price included US$2m for services rendered). 3 weeks later the Crusader deal was announced. There's a lot of anger here and mass dilution is not going to help.

[novice52] 01/11/2017 08:36

A ploy by the existing directors to frighten shareholders. Why suspend on a possibility - nothing has been confirmed.?

[romeike] 01/11/2017 08:22

Meeting starts 9.30am, I expect it will be wrapped up about 45 mins.

I am sat in an office in Bromley waiting for a client who is now 23min late. Looks like I won't be attending the vote.

[shortarm] 01/11/2017 08:16

What time is the meeting?

[goldenshare888] 01/11/2017 08:04

Viva la Requisitioners!

:))

[exbiz] 01/11/2017 07:55

Should the Requisitioners win today it should make plenty of press inches in the mining industry, investment pages and probably some nationals which in turn should generate a lot of interest in STI + ThaniStratex. Hopefully David and Paul can then go on a huge PR offensive and really get the share price motoring. Just need to win first. Fingers well and truly crossed.

[jimbowen30] 01/11/2017 07:50

Morning Marcus

If you're reading this (or anyone else at Stratex) I'd like to thank you for your hard work and contribution to the big move in the share price. I know a CEO is meant to have the shareholders best interests at heart, so I wish you luck with your new company. I have been investing for over 20 years and have never come across a situation like this.

Goodbye
Jim

[romeike] 01/11/2017 07:49

Don't count eggs too early. Time for another RNS yet. But hopefully yes, 'Damian Green' might ens up with 57 million unwanted Stratex shares. Don't be suprised if these get dumped on the market if they lose.

[goldenshare888] 01/11/2017 07:45

Viva la Requisitioners!

:))

[highly geared] 01/11/2017 07:45

Yes, looks that way. If the Crusader proposal was confirmed by the vote there would be no need for an announcement contemplating the Thani Stratex tie up?

[romeike] 01/11/2017 07:42

Unfortunately Marcus asset stripping has left Stratex worth less than Thani Stratex which also has cash in the bank. Stratex is now worth slightly less than TSR, but until Paul gets a look at the books he won't know for sure.

[buggy] 01/11/2017 07:35

I take this latest announcement as a sign that the requisitioners may have won.


New terms to be agreed that may not constitute a reverse takeover?? >> better terms for STI .. where STI are valued much more than the current value of THANI?

These a are my readings of this morning's announcement.. or am I wrong?
[ That is me thinking that reverse takeover is where the company is taking over another entity that has a higher valuation that the its own]

[tightfist] 01/11/2017 06:23

Tadtech,Looks like the correct post code for Grant Thornton's is EC2A 1AG. See you there, I will be wearing a pink buttonhole - that has to be unique!Cheers, safe journey.

[juju44] 01/11/2017 03:46

Yawn. zzzzzz All dead and gone before that happens

[mckhenry] 01/11/2017 00:42

I am a shareholder of CAS in Australia, I don't know the history of your company. But you have got a world class gold project along with a key person of substantial repute in delivering on projects and shareholder value. Correct me if I'm wrong, but Stratex has been a failed speccy stock for many years, you get to go to production and get earnings and dividends now, we would have thought you would be happy???

Once in production, CAS's project has a projected value of $0.20 AUD, dilutions aside that should see a minimum of 5x share growth from your current position exclusive of dividends.

[shoggoth] 01/11/2017 00:07

I'd like to terminate Englebrecht.