Stratex Share Discussion Threads

[novicetrade68] 08/2/2018 20:56

You are not expecting anything good coming out of this potential Dalafin JV they were tauting in the last RNS romeike? I actually bought half of my previous shares back here just in case the market has one day a positive response to either Thani, Dalafin or new guy initiatives.

[romeike] 08/2/2018 20:43

Looks like this new guy has had his fair share of Bob style screw ups. Good luck all. Just 300k of unwanted stock left to dump here. Will be so glad to get rid of this trash.

[exbiz] 08/2/2018 17:12

I was wondering if we could start adding daily crosswords or word searches to this thread as allegedly the BOD have made it their mission to frequent this board and report any hurtful comments now that they have nothing better to do after giving away the best assets for a pittance and having nothing left to do now.

[exbiz] 08/2/2018 17:08

I'd like to see them imprisoned !

[nick rubens] 08/2/2018 16:35

Thanks Glibgibon for your detailed 20th January response. I'm just revisiting this again with a view to maybe taking a few but as always get a bit cautious buying AIM stuff.
I would like to see the old management totally removed though.

[romeike] 02/2/2018 18:08

I am guessing this is 50 year old - Mr. Timothy Livesey, Chief Operating Officer of Reservoir Minerals Inc., a Canadian company. This is just my assumption, but I expect he is one of Bob's geology pals from Canada where Bob has business interests. Well at least he is under 65.

[romeike] 01/2/2018 13:30

As expected, mate of Bob's wheeled in. His hands tied to maintaining the current board / employees in place I have no doubt. Hopefully he will be better at authenticating JV contracts than Bob was. Not quite understanding how their strategy is any different other than the unapologetic admission that they were completely wrong to look at only late stage projects they couldn't afford. Also not happy for them to pretend that Crusader assets were "late stage" - in fact the more you read about them the earlier stage they looked.

Hopefully I am wrong and Tim does a good job and trims the company, losing the dead weight and getting overheads down to a level befitting reality.

Also finding Crusader attempts to list on AIM bizarre, check share performance of companies like Condor that have listed on the CVE (Canada) and compare to their performance on AIM and ask why would anyone bother to buy into the AIM stock.

[steve1905] 01/2/2018 09:40

The new CEO - "Tim is well known to the technical team and internal team" - another old mate to join the pay roll. Meanwhile Bob keeps his snout in the trough and the rest of them carry on in jobs where they have been abject failures

[juju44] 01/2/2018 09:05

Good to hear Bob is staying on as a consultant . That should speed up the process of putting shareholders here out of their misery.

I wish the new CEO good luck but what calibre of manager would join this basket case

[tournesol] 01/2/2018 08:34

"….The new CEO seems very credible…."

Now where have I heard that before???????

[tadtech] 01/2/2018 07:51

I think that is a pretty encouraging update and they cannot be faulted in respect of speed in getting a new CEO.

Of interest is who will be the JV partner at Dalafin, I would suggest it could be a major, perhaps Teck? Look what happened to the share price of Greatland Gold when they announced they could team up with Newmont.

Another interesting aspect is the proposed IPO of the Thani-Stratex 50% owned Djibouti project.

The new CEO seems very credible, will need to get out into the media and promote the company to restore market confidence.

Given the low £3.5m market cap, supported by cash of £2.9m (December) the new CEO is starting the rebuild from a ultra low base.

The past is the past, the only 'issue' that remains is the Chairman. He needs to make way for new blood, note the comment about succession planning.

In all I think the market will like the update.

[shortarm] 01/2/2018 07:34

2018's best performer? Doesn't have to go far lol

[goldenshare888] 01/2/2018 07:31

Life in the old dog yet!

Without Bob at the help this may well continue sailing...........

Dalafin JV is very welcome.

:-)

[romeike] 29/1/2018 14:21

Apparently trying to censor comment by your own shareholders is a priority activity because it is our postings here that are clearly so detrimental to the share price, and not the alleged malpractice of Stratex directors over the last few years. If Claire & co think comments here are somehow unfair, they should hear what the analysts are saying.

[exbiz] 29/1/2018 14:11

Allegedly they have run the business so well for the benefit of shareholders that I factually lost just over £30,000 invested after their alleged incompetence to utilise the Oksut funds wisely or allegedly correctly authenticate a jv partnership deal at Altintepe amongst many others. Still at least they're all still taking from the coffers whilst reading bb's.

[romeike] 29/1/2018 14:01

I would be careful exbiz, this board is being closely monitored by Stratex staffers with allegedly nothing better to do. They allegedly blame us for the share price and have been allegedly complaining loudly to ADVFN about the clearly unwarranted, unfair comments on here.

[exbiz] 29/1/2018 13:52

That's £40 million wasted for clarification

[romeike] 22/1/2018 11:45

A new, independent CEO with good contacts and experience might be able to turn the company around and leverage what remains, but in my opinion the incumbent directors represent a multi million dollar liability that puts Stratex value somewhere deep in negative territory.

[kingivor] 22/1/2018 11:25

Being generous, £0.5m for Aim listing
£2.5m cash and cash owed
£0.5m Thani equity share
£0.5m Africa and Turkey all together
Total £4m discounted 25% for heavy cash burn, so you can make a case as a punt around £3m or 0.70p max

I'm not back in unless we see sub 0.5p

GLA

[glibgibon] 20/1/2018 20:54

Nick, we had £2m cash at 20th Dec and £0.89 to be repaid by Crusader by 9th May.

I'm not sure what value can be attributed to our projects (including 30% of TSR), but as they are not producing right now then I would hesitate to call then assets.

Dalafin project in Senegal - Stratex has 85% equity holding. We are looking for JV partner.

A one-off cash payment of US$500,000 is due from the former Karaagaç gold project in Turkey. That is once Anadolu deliver 50,000 ounces. We also have a 1.5% net smelter royalty. Not sure if that will happen in 2018.

14.87% of the Muratdere project in Turkey. Copper prices are starting to rise after a long decline but we would need to invest more into the mine before any headway could be made.

30.1% of Thani Stratex Resources. Still at the stage of drilling for resources, so a few years away from mining and producing income for us. Their last annual report was in 2015 so no idea of their financial position or 'shares' in issue (I realise they are still a private company).

We no longer have a holding in Goldstone and I believe that was our only other near-term holding. Not sure what they are looking to do now, but we don't have anything on our books that will be generating cash in the short term... yet.

[goldenshare888] 20/1/2018 16:17

1 x pair of slippers
1 x pipe

[nick rubens] 19/1/2018 08:46

Can anyone give a quick summary of what assets and/or cash is left in this company at around this time?

It's current market value is £2.9m. Cheers NR

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