Stratex Share Discussion Threads

[juju44] 18/1/2018 18:26

They are all on a beach in the Bahamas laughing their goolies off at the thicko shareholders who filled their wallets for failing miserably

[romeike] 18/1/2018 16:59

Directors at Stratex should look at what is happening at other successful companies and consider objectively the reason why the performance here has been so bad for several years.

[romeike] 18/1/2018 10:02

I am not sure one person can be held responsible for a board decision, though of course I share your dislike of directors operating in this manner, directors bonuses should be paired with or (substituted by) special dividends that deliver reward to all shareholders (including directors) commensurate with their risk.

[steve1905] 18/1/2018 09:51

What I do know, whether bonus was deserved or not, the board chose not to spread the wealth.

[romeike] 18/1/2018 09:41

So if we consider the taking of bonuses as a barrier to leadership roles I think we will need to say goodbye to practically every serving CEO. I don't know if the bonus after Oksut was deserved or not.

[steve1905] 18/1/2018 09:25

Romeike, I believe Mr Hall was on the board of Stratex when they awarded themselves large bonuses, after the sale of Oksut.

[steve1905] 18/1/2018 09:20

However low the share price here, its nothing more than a gamble. You would be choosing to back a failed management team who have no compunction about screwing over investors. Stratex, even with a large cash pile, in a buyers market couldn't pull off a decent deal - to the contrary, they blew every last penny.

[5huu] 17/1/2018 23:01

SK's prediction will be spot on here when PG and the remaining institutions dump their shares.

[jimbowen30] 17/1/2018 21:26

basically they don’t give a toss about shareholders and have no idea how to run a business. The share price says it all.

Juju - you are being polite calling this lot gangsters!

[romeike] 17/1/2018 17:36

All blame is firmly with Marcus Engelbrecht, Bob Foster, Stratex and Hannam & Partners.

All here would be wise to now write off their investment without a wholesale wipe out of the current board - from the look of the share price shareholders have already made their minds up about the chances of this board ever doing the right thing.

[steve1905] 17/1/2018 17:27

I don't necessarily have the faith in Mr Hall that you subscribe. From what I see, he marched shareholders up the hill and then disappeared. He owed/owes them an explanation of their side of the story

[romeike] 17/1/2018 17:15

I personally suspect they will fail to find someone willing to take on the job and will instead bring in a "friend of Bob" to sell the TSR stake and maintain the status quo until all remaining cash is drained. Clearly spending huge sums on finding a new CEO is better than inviting one that was voted for by a majority of shareholders and was a co-founder of the company.

[juju44] 17/1/2018 16:12

Looks like its all over here now. Talk about gangsters

[romeike] 17/1/2018 15:21

Makes you wonder how low this has to go before the company makes a statement. The fact is the directors are too busy watching "Homes under the Hammer" to notice what is happening on AIM never mind coming up with a turnaround plan that will satisfy shareholders fed up with this bunch of grasping losers.

As other posters have indicated, without a drastic overhaul of the top team, fair value here is certainly no more than 0.25p.

[romeike] 16/1/2018 11:27

Goldstone is now worth three times more than Stratex and yet is operating at a small fraction of the costs.

[romeike] 15/1/2018 10:09

@Glib We need a new direction and fresh blood with ideas and drive to take us forward.

Despite calling itself an explorer/producer my understanding is that Stratex has not carried out any direct exploration in many years, with this 'core' activity put out to 'pay as you go' external 'project brokers' at great cost to shareholders - with many dozens of projects considered by the team in this manner and yet nothing to show for it despite huge amounts of cash spent.

[shoggoth] 15/1/2018 10:08

Change will be forced on the company purely because they have run out of goodwill, so no more CR's, and because they are badly run, they will run out of cash to pay everyone. They either make a radical change to improve things, including changes at the top, or they will vanish.

[aircomm] 14/1/2018 19:25

romeike - not sure I subscribe to your analysis.

We have a share price which barely reflects a fire sale value of the stake in Thani Stratex, never mind the other interests and cash reserves.

My prediction for 2018? We will either see a rejuvenated company with a fresh CEO and a new eye catching project, or (noting the presence of a significant stake building activist shareholder) a takeover bid at 1.5p to 1.75p. The depleted cash pile has simply brought forward the fork in the road and trimmed the acquisition price.

Claire for CEO. Best idea you've had yet, although you may have called it a little too early.

[glibgibon] 14/1/2018 18:31

From the last RNS, there will hopefully be a Business Plan published in Q1 along with announcement of a new CEO. We had £2m cash at 20th Dec and £0.89 to be repaid by Crusader by 9th May. I'm guessing their IPO will pay for that which should be within 2 months - they have also just had a $3.3m placing so funds should be available.

Not sure at what point the company will be deemed to have turned the corner though. It appears that existing projects are not going to be cash generative any time soon, which would suggest an acquisition is required. As that would require spending money, current shareholder sentiment appears to be against this, so whoever takes over is going to have their work cut out.

If the company strategy is to continue with their previous approach of identifying and selling resources, the market does not appear to be eager to snap up these projects. It would also require longer term investment, potentially draining our existing capital which could result in future placings.

Hopefully we have news soon so there is at least stability in the share. We need a new direction and fresh blood with ideas and drive to take us forward.

[juju44] 12/1/2018 20:21

Lock them up. Lock them up

[novicetrade68] 12/1/2018 20:00

It sure is a lesson learned.

I realised too late too that the relation between the Stratex CEO and Hannam Partners is open to potential fraud through excessive billing or other dodgies. Too bad the (interim) results never break down their admin costs.

[romeike] 12/1/2018 15:36

A lesson in investing I have learned - never stay invested in a Company ran by a guy who can't even keep himself fit. Just look at fat crook Marcus with his disgusting belly spilling out of his shirt in those old Stratex interviews. What a disgrace.

[juju44] 12/1/2018 15:32

Which is where they ought to be now