Stratex Share Discussion Threads

[steve1905] 01/11/2017 16:26

Funny to think that if Englebrecht had bought a few shares it may have kept him in a job.

[5huu] 01/11/2017 16:21

I'm now our of gold stocks completely, but for what it's worth, I think Ariana now offers much more upside potential than Stratex for pretty much the same share price. It certainly offers much more security with much less risk.

[tadtech] 01/11/2017 16:19

I believe it is wrong to imply that 50m shares will hit the market, the stock has been transferred to Argyle Street Management Limited based in Hong Kong

They suggest they are a special situations investor and take a long term relationship view.



I am hoping for a speedy conclusion to events with David Hall and Paul Foord being invited onto the board.

One thing I noted was the reluctance of the Stratex board to engage with shareholders at the meeting, Marcus never mingled at all, only Perry Ashwood spoke to a few shareholders. On the other hand Mr Hall and Mr Foord plus other members of the Thani team were very active with investors.

Let us hope sense prevails and we do not need another meeting to do the obvious.

[5huu] 01/11/2017 16:15

Rom, I'm sorry but it just feels like a good day. Both your picture and mine are very similar - dire!! Having money tied up in a company where you have no idea about the future strategy, it's cash balance and no idea who's running it etc, that's the stuff of nightmares. I'm amazed many didn't sell out whilst they had the chance to and reassess when everything is clear. Now 50 million shares look to be hitting the market to add to shareholders misery.As I've stated here many times, I was here for a self sustaining exploration company, one with cash-flow from production to sustain the dirt digging (which once upon a time they weren't and at). When Marcus gave that dream away I was out. With even Goldstone gone, There is nothing now left in Stratex that doesn't require huge funding as SK also alludes too.

[romeike] 01/11/2017 15:56

5huu - you are being too negative - this is a good day for retail investors here who won out despite the bag of dirty tricks thrown at this. Marcus and pals threw a few millions at this at the last minute in a planned gambit and yet still failed. Such was the anger of shareholders and determination to stop this blatant cash grab by a self serving CEO and his Ozzie pals in my opinion.

It is the up to 30 million votes contributed by the folks here that probably won the day.

I expect a total clear out of the old board will occur now one way or the other. I want to see the UK office closed and the merger with TSR progresses as soon as possible. They need David and/or Paul in office asap to oversee this, as well as starting negotiations with Crusader on the reverse takeover termination agreement, returning Stratex cash back to where it rightly belongs.

[dontlettheb] 01/11/2017 15:48

Always thought these boards were just waffle but thanks to all the info on the Crusader deal voted my 600k against the deal. This board must have swung the vote. Thanks guys.

[5huu] 01/11/2017 15:46

Yes Rom, 50 million shares almost now certain to hit the market, the incompetent Perry still in office, Crusader now insolvent complete with Stratex loans, and significant dilution facing any potential strategy.Yet somehow with Marcus out the door, many are feeling like its a good day! It just shows what a desparate situation Stratex are in now. This has to be one of the saddest story's on Aim in the last 12 months.

[romeike] 01/11/2017 15:39

"Damian Green" stuck with 58 million unwanted Stratex shares, expect these to be dumped on the market over the coming months. A lot of "players" been left with egg on their face today.

Maybe AngloGold will buy them back at market price after no doubt having sold them for 3-5 times what they were worth at the time.

[tightfist] 01/11/2017 15:31

Yes, the TSR Guys (and Business Plan) have left an indelible impression and the Chairman and BoD will have some brass neck if they are not embraced in a new direction. I guess the voting will help them get over the "Not Invented Here" syndrome.......

[novicetrade68] 01/11/2017 15:23

MMs not interested in making money today it seems.

[romeike] 01/11/2017 15:21

@ Corguv

So tactful about PA. I'd say he is WELL PAST retirement.

[corguv] 01/11/2017 15:07

Well done Stratex shareholders.
The Chairman is in all events close to retirement and should in all conscience
stand aside as soon as possible imo

[romeike] 01/11/2017 15:07

But did he cry?!

[exbiz] 01/11/2017 15:05

So has he actually got his P45 and had his work visa revoked ;-)

[tadtech] 01/11/2017 14:54

Without doubt it was the private investor vote that won the day.

The voting was extremely tight given the strange about turn by Anglogold, in the 3 resolutions that were declared there was only 1m to 2m difference between parties.

I noted the Stratex vote hardly moved from their last RNS suggesting that they hardly attracted any private investors.

I spoke with David Hall before the voting decision, he has some great ideas for Stratex assuming he can get on the board.

The reason why he and Paul Foord were not elected was because the resolutions were worded poorly, basically had Perry been voted out then Paul and David would, almost certainly, be officers of the company.

It is hoped that the remaining Stratex management will see sense and invite Paul and David onto the board, the meeting was exceptionally well attended given it's 9.30am start.

Thank heavens we are no longer faced with penal dilution, the issue of 2 billion shares to acquire Crusader will not happen.

They are holding a board meeting so I wonder if we get news today, clearly shareholders want Paul and David as directors.

[glibgibon] 01/11/2017 14:51

Trading resumed - share price at 1.4

[youngharry2] 01/11/2017 14:51

Wonder if Marcus will now use his position on the Thani Stratex board to promote a merger with Crusader?

[tightfist] 01/11/2017 14:44

The RNS gives no clue as to how close the voting was in respect of Resolutions 1, 2, 5. I don't have the precise numbers but from my notes for the first two resolutions the votes cast were only about 1 million (0.7%) apart - a 0.4% swing would have reversed the outcome. On Resolution 5 the gap was about 2 million or 1.4%. ~290 million votes were cast on Resolutions 1, 2 and 300 million in respect of Resolution 5.The Chairman refused to reveal the voting in respect of Resolutions 3, 4 on the grounds that the pre-condition had not been complied with.This is NOT piffling detail!! It serves as a stark reminder to the BoD that the Chairman remains in place by the skin of his teeth, and a new CEO would have been imposed on him if the resolution had been worded more carefully. The BoD now has to be extremely careful that is not on the receiving end of another requisition when I am confident that more than 60% of the votes would be cast. The Genie is out of the bottle!Cheers, tightfist

[novicetrade68] 01/11/2017 14:37

CGH has risen 30% already now their useless CEO has departed, so the end of Marcus should be worth something too I would hope.

[dingo75] 01/11/2017 14:34

Englebert booted

[5huu] 01/11/2017 14:23

That's one bullet dodged guys. I certainly don't expect anyone be buying shares here right now though.