Stratex Share Discussion Threads

[tadtech] 14/11/2017 18:05

My view is it is wrong for the requisition team to wait for contact with Stratex.

I have looked at the very detailed Thani proposals which appear on the New website, very exciting, offering a share price target of 8p, no imminent dilution, cutting costs significantly, merging the Thani assets into Stratex - pricing STI shares at 2p to do that, a tailings project offering near term production, possible tie ups with Teck as a partner, a complete re-branding of the company with new improved PR, a new approachable board which would include a shareholder representative.

Come on requisition team make some statement, you surely won the vote, would be in office now other than the Stratex legal team spotting a technicality.

Peter Gyllenhammar, if you are reading this kindly use your resources to assist, it is in your interest, an army of private investors want change at Stratex.

[romeike] 14/11/2017 16:10

Is it worth starting a petition for Peter Addison to step down? This silence from the Company just makes me think they are playing a waiting game, hoping all will quieten down so they can get back to business as usual.

[corguv] 14/11/2017 16:09

Rom - probably Englesmirk had the cunning Crusader plan in mind when he offered his ‘Services̵7; to Stratex BOD, part of that deal was for a company the small size of Stratex were to pay massively high deal charges of $3 to $4million ! I guess the payee was Unhappy and did utmost to thwart the shareholders vote ? But thus far failed. Me being too cynical or just past experiences?

[romeike] 14/11/2017 10:29

So was Englebert just taking orders from Ian Hannam from even before his first day as CEO? Or is that just too cynical?

I guess at this stage it doesn't really matter. Either way the non execs failed.

[juju44] 14/11/2017 09:23

Where is Englebroke ? Has he been retained as a consultant to advise on how to achieve profitability.

[observer007] 14/11/2017 06:40

The requisition team seem to have gone very quiet, they must have spent a great deal of time and money.

I would not put it past them to be liaising with the larger shareholders, knowing they have the support of the small guys. They have a strong hand and would be stupid not to use it.

I note the media coverage of Hannam, not good was it, these were the guys trying to force the Crusader deal down the throats of Stratex shareholders, also had a hand in parachuting Englebrecht in who destroyed value with just about everything he touched.

The directors positions at Stratex are untenable, Addison in particular, they have to go.

Bring on some form of new action, it seems inevitable.

[bo doodak] 13/11/2017 15:56

Perhaps Gyllenhammer is focusing/betting on the possibility of a Sukari style outcome

[corguv] 13/11/2017 15:34

Englegrabecht was only interested in Crusader and Stratex BOD and in particular the Chairman kow towed against the wishes and interests of shareholders. Bob was a huge enthusiast of Djibouti and the Egyptian prospects at Thani Stratex are well documented and understood imo
What is the alternative,

[romeike] 13/11/2017 15:13

The fact that Stratex doesn't know the precise situation at TSR is just yet more evidence that the existing board not only isn't up to the job, but actually just isn't doing the job at all. Stratex has a 30% holding in TSR and yet it needs a formerly retired CEO and an office manager to go out fact checking.

[5huu] 13/11/2017 14:51

That's pretty much how I see Stratex now Exbiz, having previously had a strong emotional attachment to Stratex after many years. I feel relieved to be out. Looking back, the waste that's gone on here is unbelievable, but recent events are bordering on criminal.

[the stigologist] 13/11/2017 14:49

I think Gyllenhammer might be taking a view on the commodity cycle? He has recently alighted on the very badly run RRR with a big stake. He hasn't demonstrated any activism at RRR (getting rid of bloated Bell-end Andrew Bell would go down well with most).

[corguv] 13/11/2017 14:44

I know where Bob finished, Post Oksut,
Oksut NSR, Inlice Etc Etc he presided over
vastly increased costs, expenses and Admin charges, coupled with drilling dust, huge value destruction for shareholders. He went, he is back, safe pair of hands my backside. He can only be viewed as a stop gap.

[romeike] 13/11/2017 12:44

Bob needs to be clear - his main objective is to make himself and the rest of the board redundant as soon as possible. Does anyone know when Bob starts?

[shoggoth] 13/11/2017 12:39

This level of disconnection from what it means to invest in a company is a direct result of the BoD's refusal to pay for a meaningful stake. If they cannot see why there is so much anger they should not be running a publicly listed company.

[observer007] 13/11/2017 12:01

If Mr Gyllenhammar can get hold of the 11% stake sold by Anglogold I think it will be game on for change, he would then have 20% and would be very powerful.

All of the Stratex head honchos could be for the boot. I cannot see a man like him putting up with such inadequate types, their greed over the years is plain for all to see.

In all intents and purpose Stratex is in play, the BOD do not see it but the investment community almost certainly do.

[shoggoth] 13/11/2017 11:28

Lets see them get a better deal.

[romeike] 13/11/2017 11:17

Despite the fact we now discover the Crusader deal was personally pushed by Ian Hannam of "£450K FSA fine for passing insider information" fame, the Stratex team still take the view that shareholders have made a big mistake down voting such a fantastic deal.

[romeike] 13/11/2017 11:10

Please note this thread is now closed

[romeike] 13/11/2017 09:34

Thani Stratex were frozen out by Peter Addison after the vote. Since the "Bob" announcement Bob and Claire have arranged to visit the TSR sites and David and Paul are preparing for this.

Would you be surprised to hear this will be the first time someone from Stratex has visited a TSR site?

[shoggoth] 13/11/2017 08:31

What's happened to Foord and Hall?

[observer007] 13/11/2017 07:24

The board has lost all credibility and should fall on their swords - but they won't, with the large chunks of shares changing hands it is clear something is going on.

I wonder whether someone out there simply wants the listing/remaining cash £3m+£4m? and will inject new assets into the shell?

Now that would excite the market.

[shoggoth] 13/11/2017 05:04

Keep an eye on what happens with Crusader. Will they and under what terms will they be able to raise cash. Any deal that comes out will indicate something of the quality of the deal that Stratex have just rejected.
Anything significantly worse will need to be fed back to Stratex, to tell them : LOOK, AND YOU WERE GOING TO GIVE THEM THE DEAL THAT YOU OFFERED, WERE YOU?