Stratex Share Discussion Threads

[tournesol] 06/8/2018 14:07

Romeike

...fair value at no more than 2.5p….

I guess your decimal point has slipped. I think you mean 0.25p

T

[romeike] 06/8/2018 09:58

-- It seems that speculation concerning a market maker being short is not without foundation.

This is interesting because most people I know in the city haven't even heard of Stratex, never mind bothering to short it. And if they have, it's in connection with the Engelbrecht scandal and them spending millions of pounds trying to shaft their own shareholders.

If Stratex stock is being shorted it is perhaps because some smart traders have realised this company can be counted upon to consistently destroy shareholder value over time. The shares still have some way to go down for fair value at no more than 0.25p.

[steve1905] 06/8/2018 09:44

Sounds like the last bastion of a scoundrel

[thecoyone] 05/8/2018 23:35

Some very interesting debate about Stratex in a certain Twitter private group that contains some rather 'interesting' names.

It seems that speculation concerning a market maker being short is not without foundation.

Not unusual for such entities to naked short around 5% of the issued capital, equating to 35m shares here.

Most interestingly it seems Stratex management are aware, most unlikely to issue new stock so they can close the position.

I wonder if there will be settlement issues in this stock over the next few weeks.

Bear squeeze is a real possibility.

[shoggoth] 03/8/2018 10:24

And then they spent that $20M on bonuses and dead end exploration. I remember when Stratex was being touted as an exploration project with a new paradigm, where they could make a profit by farming out exploration targets. That didn't go so well. Have they changed much? I don't see it.

[observer007] 03/8/2018 09:31

I do not post much these days, am a long term holder who is significantly under water. I can understand the bitterness that exists on this thread from some quarters.

I decided to add to my position recently as I fully believe in the new CEO, in a million years I would not have bought more under the old regime but it looks like Tim Livesey is in a different league.

I do believe something untoward has been going on with the share price but these things have to unwind, the market value of Stratex is only £2.6m after all, a far cry from the high point of £35m

As for suggesting they could not fetch a fair sum of cash from an outright sale of Dalafin I recall similar comments about the Oksut project, Stratex sold their 30% interest to a major for $20m

On AIM things can turn in a flash and when least expected.

[thecoyone] 02/8/2018 22:06

Some sensible reading.

Could not agree more on the statement below, shrewd investors look for opportunities, short squeeze rises can be spectacular.


AIM Market Makers, Short Selling and Placings

'I have previously done well from investing in companies where it is obvious that the market is short of stock and when you are able to find a "short squeeze" it does offer a good opportunity'

[exbiz] 02/8/2018 11:18

Nobody can say that STI isn't consistent. They make new 52 week so lows almost every day now.

[tournesol] 02/8/2018 08:31

Tadtech and Coyone are either one person with 2 aliases/ADVFN accounts or are a tag team.

The game they are playing is simple and simple-minded ramping. The stuff they are posting is FAKE NEWS conspiracy theory garbage.

The reason the share price has collapsed below a half penny and the market cap has dwindled to less than 3 million is not that some shadowy evil masterminds have targetted a healthy company and undermined its shares by shorting the guts of it.

The real reason is much simpler than that and involves no anonymous villains hiding from view.

The problem is simply that the company has been serially and seriously mismanaged by a succession of the good, the bad and the ugly.

Three names come to mind.

Founding CEO Bob Foster. Bob is a lovely man with integrity and boundless supplies of energy and enthusiasm. But he is not CEO material and he is not a natural entrepreneur. The Turkish discoveries which were the basis on which the company was initially founded were mismanaged. Bob over promised and under delivered. He used to talk about Konya and the surrounding area as a potential multi-million ounce discovery. That saw the share price rise to around 10p (from memory) It has all turned to ashes. Whilst some gold has been discovered, the associated value has not been captured but has slipped through Stratex's fingers. Theshare price and the market cap tell the story.

The recently departed CEO Engelbrecht could be described as either bad or ugly or both. He proposed a transaction which would have simply transferred most of the modest residual value of STI to an Aussie minnow whose atractions were invisible but whose weaknesses and shortcomings were manifest. He nearly succeeded. A heroic shareholder revolt led by outraged ex-founding directors resulted in the proposal being abandoned and Mr E departing ignominiously. Sadly the whole fiasco cost STI a substantial chunk of its very modest resources. So a mortal wound was inflicted.

The chairman could certainly be described as ugly - not in his physiognomy - but in his demeanour. Having done nothing to stop E's disastrous scheme, he swung into vigorous action to thwart the shareholder revolt. As a lawyer he pored over the text of the resolution submitted at the EGM and found a technical error in the wording. He tried to use that as a device to retain E in position. Then he said that E would stand down as CEO but stay on as a consultant. He was forced to give ground and E was made to walk the plank. Any reasonable person would then have accepted the idea proposed in the flawed resolution of bringing the activist directors back and investigating their thoughtful ideas for turning the co around. Not this chap. Having stood by while E ran the ship onto the rocks he is now determined to fight the would be salvagers/rescuers to his last breath. Which of course means to the last coin in the company coffers.

At present nothing much seems to be happening at Stratex and the company clearly lacks the wherewithal to do much if anything. It has been reduced to resorting to the stock market equivalent of a pay day lender to raise a meagre million pounds at a disproportionate cost.

I am reminded of NOP the failed oil co.

What surprises me in such circumstances is not that badly run and unsuccessful resource companies fail, but that they manage to linger on so long - like an outlaw gunned down in a bad spaghetti western, who writhes around in his death throes for an extended period. A rational and professional management team whose business fails would surely put it out of its misery, see what funds can be rescued and return them to shareholders with a sincere apology.

What bad managers do is to delay the inevitable, leave the wounded business writhing in agony, trot out ever more desperate crazy ideas for turning things round and most tellingly of all continue drawing their wages.

What a rational shareholder does is sell as soon as they realise the company is headed off a cliff. That way they get to save something. What an irrational investor does is bury their heads in the sand, seek out conspiracy theories, hope that there will be an 11th hour reprieve.

[thecoyone] 02/8/2018 07:00

Gentlemen

Nigh certainty that market participants have been active in driving the stock price down to levels completely out of kilter to fair value, the clue something was amiss was when the $8m JV with Iamgold Corporation was announced, the stock failed to respond.

I took part in the Turner Pope placing as have a number of shrewd investors, the stock has gone into pretty sticky hands but more importantly wealthy investors who could easily finance Stratex in the future via the strategic funding route.

My understanding is that Stratex needs no new money in the foreseeable and have possible cash injections coming via other routes in the future.

How many people know they have a potential VAT refund due of £550k or are owed £1.2m from a partner in West Africa?

The CEO also talked about receiving $500k from a Turkish project within 6 months.

If market makers are short, as is speculated, they WILL struggle to close the position, I sense some HNW investors have their eye on the ball here.



Listen to the recent Turner Pope presentation....

[tadtech] 01/8/2018 23:15

Some very interesting re-tweets from Stratex yesterday. Not without reason either!

Looks like the game will soon be up short positions - time to close or suffer the consequences !!

#bearsqueeze

[sicilian_kan] 31/7/2018 20:51

There's only so much longer the trend can continue...!

[tournesol] 31/7/2018 19:13

Laptop

Look at the share price chart since October 2016.

It's not difficult to find - just look at the header for this thread

Is it me or is there just a hint of a trend?

what do you think?

[laptop15] 31/7/2018 12:57

https://twitter.com/Stratexplc/status/1024201995698274304?s=19

[steve1905] 31/7/2018 12:23

Looks like another 3 million dumped

[juju44] 31/7/2018 12:20

It's AIM rip off junk

[shoggoth] 31/7/2018 10:04

Look at the long term trend, it has not reached any kind of bottom yet. It's a knife that has been falling for the last decade.

[juju44] 31/7/2018 10:00

Almost certainly a sell . look at the time and the price

[laptop15] 31/7/2018 09:11

2.5 mill buy....someone confident

[juju44] 31/7/2018 08:47

Toilet time approaching rapidly

[thecoyone] 30/7/2018 21:51

I assume not many are aware that major IAMGOLD CORP has already completed a PFS on their Boto gold project, no wonder they want to explore the surrounding land which just so happens to belong to Stratex.

The economics of the prospective mine seem 1st rate but they want to enhance the gold resource to 'meet their investment criteria'

I would suggest confidence is high that IAMGOLD would be obvious buyers of Stratex Dalafin project.

A very worthy read

[laptop15] 30/7/2018 17:24

Very interesting thecoyone, imagine what a $20 million cash sale of Dalafin would do to the £2.5 million mcap of STI???Why else would IAMGOLD be doing the JV?? Extend there resources from current operations which are right beside dalafin area and Buy it once proved from stratex.The market appears to have missed this imo.....I have a feeling all will be revealed soon!