Stratex Share Discussion Threads

[buggy] 21/11/2017 09:58

I have to say that while he did not give anything away, I was impressed by how he handled the questions.

On Crusader deal, he isn't realistically going to come out and say it was a great deal or a bad deal. The level of share holders who voted for the deal means that he needs to keep both sides on board.... that is good leadership.

Reading between the lines he is not in favour of the deal as it was structured. Without coming out and saying that it was a bad deal, he kept the group that wanted the Crusader merger happy by stating that the underlying assets is very solid.... thus where he finds issue is on the valuation. I think we all would agree on that... if the deal has been done at a Crusader price of about 7-8 cents... I am sure none of us would have objected.
My personal truck with the deal was the valuation placed on Crusader while it seems that STI was valued at a discount to even the cash at hand.


If the vote had been more decisive he could have came out swinger for one side or the other .. but since it is such a close split in votes... he needs to tread a middle ground.

Mind you as the shares changes hand the middle ground will be shifting... especially if the major holders that voted for the merger have unloaded their stake to other holders who have same view as us. By him talking to those he will soon find out that the balance of views is now for a merger with TSR which he has not ruled out.

In short I think it was a good interview with him trying to steer a middle ground to placate both sides of the debate.
That is my view anyway.

[tightfist] 21/11/2017 09:55

Many thanks for the link to the Bob interview; yes, Bob looks tired and is not impressive, nothing new there. But I don't know if we can reasonably hold Bob to account for the swerve under ME's tenure; Bob maybe does seems to distance himself from that with the need for "rationality".However, I am more positive about what Bob actually suggests about the future. He emphasises staying with the original business model (why I invested!), he wants to spend time considering the assets, does not distance himself from TSR (4:50 ".....we'll be going forward there, all being well...") whilst also talking to disenfranchised shareholders - building bridges to "get the show back on the road". Ultimately what matters for me is the "road" but in fairness he needs time to review the asset options and size-up the options to create shareholder value with the shrinking cash pile.What really matters is the CEO succession plan to appoint a partnering, commercial deal-making, competent CEO AFTER rapidly replacing the Chairman, in order that the new Chairman incumbent is truly accountable for the appointment and performance of the new CEO.Otherwise I am worse than gob-smacked about the audacity of ME, CAS and Hannam re: a proposed AIM CAS listing - the recent STI debacle must be well known throughout The City bars - who would trust any of them with the price of a pint?Cheers, tightfist

[romeike] 21/11/2017 09:46

Yes Tad, you are right I am afraid to say the whole board is culpable and needs to go. Bob doesn't seem to realise that he has extremely limited time to formulate a plan and communicate it to shareholders otherwise he faces a further vote that will likely include his removal as interim CEO. Surely he'd prefer his second retirement to be less humiliating than his first.

[tadtech] 21/11/2017 09:33

The interview was evasive as one would expect, he does not want to talk about the Crusader situation, the reason is he probably supported it. The 'official' theme from Stratex is the vote was divided, NO it was not, the poll by hands at the meeting was overwhelmingly lost by the Board.

In respect of the proxy votes, the situation was one sided, Stratex unlocked all the nominee accounts and sent out a mailshot to individuals, numerous media presentations via Proactive, Vox and BRR all backed up by RNS, they lobbied shareholders via email, their website and other means.

Then there was the 'strange' last minute about turn by Anglogold - make of that what you will.

Peter Addison hanging on by 1m votes, that was crucial, we would not be here now if he had lost, the Thani merger would be proceeding with all the associated benefits for shareholders.

They will not listen to reason, they have no plans, they have failed over many years to deliver shareholder value etc. Shareholders want major change, the Thani-Stratex proposals offer that in my view.

[goldenshare888] 21/11/2017 09:06

Bob was/is part of the problem I suggest and should go immediately.

I can smell shareholders cash burning every day.......!

[observer007] 21/11/2017 07:25

Bob Foster interview...

Reminds me of the Mugabe speech on Sunday - a rambling waffle.

Don't worry there have been a few problems, I have listened to my Generals concerns, will have some discussions, will be addressing the issues in a few weeks, despite being dismissed by my party I shall carry on, but it is the Harvest Season. Good night.

[tadtech] 20/11/2017 23:11

Having had a rummage around it seems the new holder of the 11.49% stake in Stratex, Argyle Street Management, would almost certainly be a block seller to an interested party (at the right price) Quite a few US regulatory notices suggesting the same with previous stake sales.

I still think something is going on here, too many big names kicking around, so few shares in free float, Peter Gyllenhammar would almost certainly be buying more if he could get his hands on any decent tranches. He likes to be the largest stakeholder in his invested companies.

This could get interesting over coming weeks IMO.

[novicetrade68] 20/11/2017 20:47

Starting to wonder now whether the actions of Hannam/Englebrecht/Addison can be considered legal at all, it has all comes acros as so fishy so far.

[tadtech] 20/11/2017 19:18

Stake change Preston Road gone, entire 11% stake now with

[tadtech] 20/11/2017 18:33

It is rather interesting that Crusader's share price plummeted to all time lows on the news of the Englebrecht appointment. Also of interest is they are shedding Rob Smakman (salary $300k+) but Stratex shareholders were told he was a critical to the enlarged business?

Crusader ASX stock has no liquidity, they will have to raise at a significant discount ASAP, they are skint. The longer they wait the more the stock will fall IMO.

Who on earth would buy into Crusader on AIM given recent events, I am sure Stratex shareholders will be 'active' on their bulletin board, not to mention investor presentations, if one or two pop up.

Very much hoping we get news from the Thani-Stratex board who surely would be in contact with the major Stratex shareholders, they already know they have the support of the retail investors.

[corguv] 20/11/2017 14:50

Will never know the truth about Bahar. The known knows Englebrecht, Hallam, Stratex Chairman we now know for what they are.

[greedfear] 20/11/2017 14:23

Third act. Bahar enters: "how can we help you?". Curtains.

[shoggoth] 20/11/2017 10:40

After this, i doubt they will find takers on AIM. I wonder how Hannam will try to spin it. He is doubling down eh.

[romeike] 20/11/2017 10:31

I emailed the BOD seeking assurances from them that:

1. they will have no further discussions or dealings with Hannam & Partners due to the clear conflict of interest given that H&P are now advising Crusader, which I note owe Stratex large sums of cash

2. Marcus Englebrat will be held to confidentiality agreements as part of his former contract

[bishan bedi] 20/11/2017 10:24

Ah apologies, I have the stigologist filtered for some reason. Will unfilter and migrate.

[romeike] 20/11/2017 10:22

Hannam & Partners now have a clear conflict of interest acting as advisers to both Stratex, and Crusader who owe Stratex considerable sums of cash.

Interesting the Marcus former contract even allows him to take up a role with Crusader, or any other mining sector company, without a grace period. Just shows how cosy this whole thing has been and continues to be.

[romeike] 20/11/2017 10:18

Please note this thread is now closed

New thread:

[bishan bedi] 20/11/2017 09:45

So Englebrecht to Crusader and an AIM listing, well I never. Was this flagged at any point?