Stratex Share Discussion Threads

[tadtech] 27/12/2017 11:39

Note David Hall, who should now be on the board of Stratex together with Paul Foord, received a glowing review on the Vox Podcast last week.

There is still NO explanation as to why these two very competent persons, who put together a 1st rate business plan for Stratex, have not been appointed. Why search for a new CEO when shareholders voted for the new business plan by rejecting the Crusader merger and in effect voted them in.

I can see another requisition coming unless these gentlemen are elected. I am quite sure Peter Gyllenhammar will not tolerate such incompetence for much longer.

[youngharry2] 27/12/2017 11:25

and the prize for shareholder value destruction goes to STI BoD...

thought Bob and Chris were good at this but Marcus make them look like amateurs...

[tightfist] 26/12/2017 23:15

I hope we all post as we see things in the moment. In retrospect we all have changed our perspectives - that is part of the dynamic of investing and the nature of exchange on a BB?I hope that this Board remains united in striving to make the BoD accountable for overseeing epic value destruction. We do have diminished but some remaining valuable assets (the 30% share In TSR is probably around $5m alone pending details of the latest fund raising) and in this context the AIM listing has value too. My largest-ever profit was from a dormant holding in a resurgent AIM shell.I am only interested in Crusader developments to the extent that the Stratex loan is repaid in-full and on-time. Time to look once more at the role of the NOMAD? Cheers, tightfist

[5huu] 26/12/2017 21:45

I would imagine Tadtech that you are feeling very sick indeed, but quite honestly you have no one else to blame but yourself. When many others here were criticising Marcus and the tragic events of the past year, you leapt to his defence on a number of occasions and then chose to label anyone with a different view to yourself "derampers" and proceeded to even ban them from posting on your board. I believe you even supported the Crusader deal for a number of weeks too. Like many have said in this past week, Stratex has now become pretty much uninvestable. With no assets and their current cash burn rate - sub 0.5p beckons IMHO. One of the worst (& saddest) value destructions of any share I've ever seen.

[tadtech] 26/12/2017 13:00

If anyone wants to feel sick then watch this new interview with Marcus Englebrecht, the fellow that sold our Altintepe gold mine stake for $8m when share price Angel valued it at $30m

He then proposed to acquire Crusader Resources for 18c a share with Stratex stock but has now raised cash and bought personal shares in the recent placing at 6.5c.

Worse still EVERY member of the totally useless Stratex board voted in favour of this ludicrous deal despite massive objections from shareholders.

Mr Englebrecht seems to think Crusader Resources will be a attractive investment proposition on AIM BUT he forgets the resource space is small and investors operating in it do not forget! Just about everyone knows what happened under his tenure at Stratex.

Good luck with that flotation and in presentation events where I am sure some Stratex shareholders will have some very awkward and embarrassing questions.

Board changes are needed at Stratex and FAST, starting with the Chairman who has presided over the entire debacle, still seems to think he is wanted by the shareholders, he lives in a total parallel universe clearly.

If Bob Foster (btw are you still working for Crusader?) wants time then the Chairman must resign to gain that time. Are you listening Stratex??

[steve1905] 22/12/2017 11:11

Stratex had about 6 million back in June + another £440k from GRL sale and they are now down to 2 milion. Let's see if we can account for the 4 1/2 million over the last 6 months

890,000 loan.- No certainty of repayment
1,000,000. Costs etc - using 2m yearly run rate
400,000. - Crusader non sale fee
_---------
2,29 million

Leaving 2.25 million unaccounted for.
Could this be the costs associated with the aborted Crusader deal and Englebrecht pay off? Did it cost a princely sum to bring back the prodigal son Bob?

Pretty eye watering expenditure

[bo doodak] 22/12/2017 01:44

Another ship just floated today on AIM -

hxxps://www.errisresources.com/david-hall

[bo doodak] 21/12/2017 16:58

Ord Nominal 1p could be another debilitating factor to consider after new year

[romeike] 21/12/2017 15:08

I certainly hope so. Certainly nothing this board does will add any value for shareholders.

[tadtech] 21/12/2017 14:36

We will soon see if Peter Gyllenhammar is a activist investor or not. He must be furious and importantly has the resources to deal with this useless board of directors.

I have been around the AIM market for a long time, often at the very depths of despair, capitulation point if you like, a left field event occurs that makes a company rise from the ashes.

At some point the share price will turn, it has been taken down on very low volume and more interestingly has been difficult to buy in any size during the process. The stake in Thani is probably worth more than the current market cap right now.

[novicetrade68] 21/12/2017 14:07

Yep, indeed. Got out too this morning, it may have been a mug punt sell at the bottom, but I was genuinely shocked how much money has been wasted in these last 6 months, especially taking into account the GRL sell too. I think sentiment will be poor here for a while and hope I can make some of my losses back by finding another dog.

[goldenshare888] 21/12/2017 13:45

Looks like Sti shareholders getting dry-bummed again for Christmas.

[romeike] 21/12/2017 13:33

I have nothing but utter contempt for this board. Best thing for this company would be to throw in the towel now, sack all the useless hangers on and leeches that are employed by this company, sell whatever assets can be sold and give back to shareholders whatever cash remains.

[charles clore] 21/12/2017 12:14

A nice few nice words from the update this morning...Since Bob Foster's appointment, the Company has been working hard to re-engage with shareholders at all levels to outline future strategies to rebuild the Company whilst ensuring their concerns are taken on board...Sorry Bob, you let us down before and I think you will do so again. The company has been asset stripped while the directors have been enjoying a well paid jolly ever since the sale of Oksut. Anyone still invested here needs their brains testing imho!

[flavio_monteiro] 21/12/2017 12:01

Agree SK....it will be shortly!

[sicilian_kan] 21/12/2017 11:39

To be honest, I'm surprised this is over 1p. Should be priced at about 0.25p a share at the moment.

[blobby] 21/12/2017 11:34

Shocking and disgraceful.

[romeike] 21/12/2017 09:55

It's clear that Marcus E threw the kitchen sink at trying to get his "deal" across the line. Now shareholders get to pick up the tab.

They didn't even want the money - all Marcus wanted wanted the listing for CAS.

[5huu] 21/12/2017 09:29

Truly shocking. Bob now Scratching around in projects he tossed aside years ago to resurrect something for shareholders. Then planning his second exit. Stratex looks Un-investable now.I can imagine PG will also move on having seen that dwindling cash balance and maybe even the TSR guys. One of the worst value destructions ive ever seen and ME should be held to account for it, but being AIM, he'll just walk away and into pastures new.

[baner] 21/12/2017 09:13

Shareholders now must require a full investigation into how the Stratex BOD have allowed all this cash to evaporate! It is an unbeliavable amount in a very short period of time - Indicating that there has been significant lump sums paid out - FOR WHAT??? Directors can be held personally responsible for reckless spending of shareholders money - i guess they are also covered by insurance, paid for by the company one would assume........so, time for an EGM again!

[romeike] 21/12/2017 08:50

Put another way, this Company has but a mere two million left including the pocket change it got from Goldstone.They call this a 'strong balance sheet', what a slap in the face for shareholders.

Its update itself is unconvincing, there is clearly no value to be had and Bob's main concern is sorting out his exit strategy. The fact that they want to perform an expensive CEO search is very revealing of the mindset at Stratex.

I have now written off my investment here.