Stratex Share Discussion Threads

[flavio_monteiro] 21/12/2017 07:59

Marcus severance payoff....not divulged to shareholders..

[langland] 21/12/2017 07:54

It's actually more than 4mn because they received 550k for Goldstone stake.

[flavio_monteiro] 21/12/2017 07:36

Not much of a cash shell. incredible cash burn or monies stolen,!

[langland] 21/12/2017 07:27

So £4mn has left the company between end June and now. Scandalous.

[romeike] 20/12/2017 19:38

Absolutely, the current BOD have a matter of a few weeks to pull a rabbit out of the hat before events rapidly overtake them. They are doubtless worried about some jobs being lost if a merger with Thani Stratex goes ahead. This is nothing compared to the full sweep out that is a real possibility and they are playing with fire if they think shareholders won't vote for this if necessary.

[melodrama] 20/12/2017 15:56

Reckon PG will sort this with his mates, 500k buy just gone through, I know its not massive, but bigger than an average ADVFN PI I would suggest.

[tadtech] 20/12/2017 14:03

In my mind the only thing that will remove this lackluster BOD will be another General Meeting.

It is also pretty clear, after all this time, the current directors will not allow David Hall and Paul Foord onto the board let alone merge with Thani-Stratex why not?

In a nutshell this board have no clue what to do next, that will remain the case unless further action is taken in my view.

Whilst we fret and worry about our 'modest' investments I simply cannot believe the likes of Peter Gyllenhammar (10%) will sit around and see his £600k-£700k stake in Stratex vanish, wholly due to a bus pass board of directors with no passion to deliver shareholder value.

Add to the mix the new owners of the Anglogold shares (10%) yet another £600k+ investment, will they sit there and watch it erode in value?

Unless there is something material coming from Stratex by mid January the heat needs to be turned up again, potentially via Mr Gyllenhammar and other major investors.

[steve1905] 20/12/2017 13:07

Nice work if you can get it

[romeike] 20/12/2017 12:21

@Steve You are very likely correct. I actually doubt that there are more than two desks set up at the Southampton office. In addition based on conversations here and there over recent months I believe that all of the execs live well outside commuting distance of the office in Southampton. The impression I get is that Stratex relies on Claire to cover any day to day activities while the rest of them just chip in as and when they feel like it, mostly popping in to to sign some papers and have a coffee before driving the wife into Southampton for some shopping.

[melodrama] 20/12/2017 12:03

wrong thread apols

[steve1905] 20/12/2017 12:03

Romeike, you suggest Claire is running ghost ship at Stratex house. I suspect the management have had that sort of arrangement for years.

[steve1905] 20/12/2017 11:58

Any contact with Bob will leave the impression that he is getting on with the job and things are all positive. The sad truth is, nothing ever comes of it.
Give him his dues, he has skulked back in through the back door. Airbrushing out his major role in the Altintepe disaster and the appointment of Englebrecht. He's not a safe pair of hands, he's hand in glove with Addison in destroying what's left.
There is literally no one prepared to speak up for Stratex management on these boards. That is in itself a calamitous state of affairs

[romeike] 20/12/2017 11:44

Slightly ironic that Claire isn't running the Company because so far as I am aware she is the only person who actually turns up to the office on a regular basis. I guess the bus passes can't be used for on-peak travel.

[jimbowen30] 20/12/2017 11:38

Rom,

FWIW I think Claire is genuine but unfortunately isn't running the company. Addison is a disgrace and needs to go ASAP. I think you're right that they just don't get it sadly

[jimbowen30] 20/12/2017 11:20

Agree Rom but it's worth a try!

I imagine their Investor Relations email address gets a fair few - [e-mail]

[romeike] 20/12/2017 10:33

These guys rarely even read their own emails mate. That's how bad the disconnect is these days. They live in a bubble where opposition voices are filtered out for them by fawning minions so they can focus on the heady business of screwing over anything that looks like it might have some cash.

[steve1905] 20/12/2017 10:25

Jim, you might hope Bob was addressing that issue. More than likely though, he's enjoying his elongated Christmas break - knowing he's bringing in 20k a month. Merry Christmas

[jimbowen30] 20/12/2017 10:20

In light of the above, perhaps we should all email Englecrook asking him to do the honourable thing for once and return OUR money. I would guess his email address is [e-mail] as Paul Stephen's (Executive Director) is [e-mail]

[romeike] 20/12/2017 09:34

Several interesting points about the raising:

- A private raise essentially funded by the directors and pals, presumably due to no interest from the wider market.
- Englebrecht and Copulous pocketing a significant number of shares as part of the raise, not clear what funds, if any, were actually contributed by them - subject to approval of Shareholders.
- CAS share price hit a new low this morning as you might expect at just 0.69 cents, a small fraction of what Englebrecht was offering them using Stratex shareholders cash.
- Having raised just 3.3 million I can't see how this will cover their excessive management costs for any reasonable period on top of no doubt generous ongoing fees for Hannam and Partners.
- given the above it looks like Marcus has no intention of repaying Stratex any time soon, Marcus calculating that their Balance Sheet will be just about good enough now to get them through a listing application?
- this "whip around" looks to me like emergency funding to try and get them across the line with their high risk attempt at an AIM listing. CAS shareholders can certainly expect yet another raising within months.
- you have to feel sorry for CAS shareholders, the grasping tentacles that choked Stratex are now firmly wrapping themselves around anything of value at CAS.

[blobby] 20/12/2017 09:28

Does that mean they can give Stratex their money back?

[steve1905] 20/12/2017 09:27

They don't, they just take the cash.

[shoggoth] 20/12/2017 04:47

Crusader raised cash at 6.5c per Crusader share. That I believe is about a third of the price that they were pitched at Stratex. How does the company justify its opposition to shareholders' concerns in the light of this price discovery?

[romeike] 19/12/2017 10:32

I don't think we really do want a cash shell situation but at least it might give people a chance to exit at a more reasonable price and it is far better than the status quo.

No news is bad news with Stratex. The longer we go on with no update from Bob the more I am inclined to believe that there will be no tie in with Thani Stratex at all. There will be no board changes at all. And Bob's big plan announced in Jan will essentially be to continue "looking to acquire a near production asset" - the major problem being that that isn't a viable strategy when your shareholders don't trust you or the Chairman to do a good deal, you are burning through cash on doubtful overheads while refusing to make any cost cuts that reflect the reality of the Company's situation, and have little ability to raise cash at anything like fair terms.

As I said, I really do hope PG is buying up a larger stake and is engaging with the board in some way we don't know about. Certainly it looks to me like the Thani guys have thrown their hands up in despair with Bob & Co. and their antics.