Stratex Share Discussion Threads

[romeike] 02/11/2017 09:17

I am afraid I disagree. Stratex is in crisis and needs decisive leadership now to rescue it. There is a lot to do to turn the company around and it needs to start as soon as possible.

The company needs to merge with TSR to give it a a decent portfolio of projects and it needs to focus on extracting itself from the web Marcus has created, getting back our cash from Crusader and eliminating the threat from Marcus's advisers.

[baner] 02/11/2017 09:12

Tournesol

It certainly did not take a genius to see that the Crusader deal was a disaster from day 1. A baboon understood better than the Stratex BOD in that respect. What i am suggesting is that there is no need to rush into a new merger, until the dust has settled and alternatives have been considered - and hopefully DH and PF will come up with the best plan. But it is only the best interest of all Stratex shareholders that County now!

What is a bit ”naive etcetera” is your over-heated comment here.

Calm down, please, otherwise your comments look ill thought through, which i doubt they are. You are just a bit too emotional.

[tournesol] 02/11/2017 08:58

There will of course be other alternatives beside Paul Foord and David Hall for Stratex

What a silly, naive, curmudgeonly thing to say.

And picking up the many comments and reports that "shareholders have blocked the plans of the ousted CEO"…..

No

Its David Hall and Paul Foord who blocked those plans.

Both men were in the gang of 4 who started Stratex in the first place. David as Chair and Paul as CFO. D is a geological genius who knows exploration and mining back to front. P is an accountant and management consultant who knows his trade and is imbued with integrity.

Since stepping down from the CFO role and then from the board, P has continued as CFO of the Stratex-Thani joint venture. Both men know Stratex and Thani inside out.

It's because of their history, experience and elevated vantage points that both men saw what was wrong in the strategy mooted by Engelbrecht. It's because of their integrity that they they decided to oppose it. It's because of their hard work and determination that they have led a successful revolt against it. It's because of their analysis and vision that a better way forward has been proposed.

Of course they should be appointed back to the board. Of course they should take the helm and steer Stratex onto a new course. Of course they are better placed than anyone else to be entrusted with identifying and steering that new course.

There are no better candidates.

[baner] 02/11/2017 07:50

There will of course be other alternatives beside Paul Foord and David Hall for Stratex! There is no hurry here and the new Stratex BOD should evaluate any serious approach and project, in the best interest of all Stratex shareholders. That Mr Anderson is not the person to handle that process, is however only too obvious!

[tadtech] 02/11/2017 07:40

Crusader will need to raise a great deal of capital moving forward, the thought process on the Hotcopper bulletin board is there will be other approaches, I am not so sure.

Having spoken to both Paul Foord and David Hall I can assure that they will be working in the very best interests of shareholders and their plans are exciting, further these plans may include tie ups with the likes of Teck and other majors.

My only concern is the current board, not to mention their costly advisors, may try to thwart the wishes of shareholders.

I would urge folks to write to Mr Addison and demand that Mr Foord and Mr Hall are invited onto the board and the merger with Thani proceed.

The board (and their advisors) are trying to scare shareholders by suggesting that Stratex shares will be suspended for a indefinite time if the merger with Thani happens, this would have been the case if the Crusader merger concluded which they conveniently failed to mention at the meeting.

I believe there is still some work to do, how ironic that the remaining board (and their advisors) still seem to want to act against shareholders wishes.

[baner] 02/11/2017 07:22

Following the appointment of new directors, the next step must be to secure the funds provided to Crusader. The latter is a near-to-bankrupt company, however there may in fact be a chance to earn some money for Stratex shareholders here. Also the new BOD must commence a process of pursuing the persons responsible for this complete mess: Marcus et al. They have insurance protection so there may well be some money to extract there. A new strategy must be considered for Stratex, following a significant cost cutting excercise at the HQ. There is no hurry here, no need to rush away and do new stupidities. No doubt we shall see some significant charges here - and it can only be for the better!

[goldenshare888] 02/11/2017 07:18

Good riddance to Marcus, the worst CEO I have ever come across.

[ryanandbethanjones] 02/11/2017 06:49

Great result. I had never experienced this shareholder outrage before but that path to Brazil was definitely the wrong one.I'm glad shareholders have made a difference. Here's to the future. Looking forward to see how new strat can build value Goodbye Marcus!!

[shoggoth] 02/11/2017 00:05

Wonder what proactive will write now that nobody's paying them to do so. Probably we won't be hearing from them any more.

[shoggoth] 01/11/2017 23:13

Crusader have been suspended from the ASX. I think this is possibly lights out for them.

For the Crusader apologists here, a simple question : why, when Australian investors are much more comfortable supporting mining and exploration companies, has there been no ASX-backed solution for Crusader, why did they have to look half way around the world? The answer, I propose to you, is that Crusader have nothing and Englebrecht was taking everyone for a ride.

[sicilian_kan] 01/11/2017 23:03

Best wishes 5huu

[romeike] 01/11/2017 21:56

Yes, agreed. Well done to everyone.

If anyone wants to contact Peter Addison to let him know their views please message me. I am sure he would be very interested to hear from more shareholders.

[juju44] 01/11/2017 21:42

Addison has to go too. Today represents the victory over all my frustrations with STI over past 3 years. Well done team and good riddance to the clowns - deserve all they get for their greed

[romeike] 01/11/2017 21:23

Guys. I managed to instigate a response from Peter Addison. I am afraid to say that he came across as unrepentant and hostile.

[jimbowen30] 01/11/2017 18:34

5huu
You are way too bearish imo. Novo Fesources (NVO.V) are an explorer and look at their share price! What I would say is most of the good gold stocks are listed in a Canada and not on AIM.

[romeike] 01/11/2017 17:48

Looks like the Copulous loan is unsecured. That is good if it comes to it. But I expect also they will capital raise at about 5 cents / share.

[rjwoodrjwood] 01/11/2017 17:47

I guess it may be some time before we discover how much Stratex cash has gone down the pan over the last few weeks, will the new board be compelled to provide a comprehensive situation update?

[tadtech] 01/11/2017 17:39

Be thankful for today's events, very thankful !

Latest Crusader Cashflow Report, announced last night, shows they have A$126k in the bank, in the next quarter intend to spend A$1.6m.

Have used all but A$500k of the A$2m Stratex loan.

They will have to capital raise for sure, it will be at a heavy discount IMO.

Burning cash comes to mind.

[5huu] 01/11/2017 17:05

& Juju of course!!

[5huu] 01/11/2017 17:01

1% of your stocks?? That was a lot of emotion which went into your last 4 weeks of posting for 1% of your stocks Rom :-)Anyway I wish you all good luck. After 5-6 years of Posting on this board, Its time to call it a day.Exbiz, Clan, CC, Jim, Steve, vosene, SK, and all the other long termers - all the very best!!! It's been a journey for sure.

[romeike] 01/11/2017 16:50

5huu - how many times do you need to post that you are out. I think we get the point by now. My holding average is not much above the 1.4p we saw today. I am also not about to freak out over a holding that is a tiny proportion of my stocks.

It is funny you mention AAU, some similarities to Stratex, plenty of hopes of a share price increase when they went into production, years of posting hoping for a take off around the corner, but no, still bumping along with no value returned to shareholders.

Too much debt.