Stratex Share Discussion Threads

[tournesol] 16/8/2018 16:51

5huu

actually, as previously stated, I made good profits out of STI. That's because I recognised there was something going awry and bailed out before the share price
cratered

so in my case there is no loss that makes me bitter and twisted

I just recognise a bad situation when I see it

and I hate the way management teams exploit the gullibility of PI's

[5huu] 16/8/2018 16:13

Correct Tadtech, you and Romeike do have every right to feel very bitter. It would appear though that Romeike has learnt his painful lesson, and you'd do very well Tadtech to heed some of his below advice.

[5huu] 16/8/2018 16:07

Bear stances often come from those that lost buckets of cash on a share.

[steve1905] 16/8/2018 15:45

Due respect to tadtech, he met Englebrecht and was equally confident in his ability to take the Company forward - look how that turned out

[shoggoth] 16/8/2018 14:19

I am glad Addison is gone. The company still has nothing to work with. As tournesol says, they had several opportunities to engage with the goodwill of shareholders and wasted every single one of them. Too busy looking after their own interests. This will remain a way to harvest funds from the gullible until they can demonstrate they are serious.

[tournesol] 16/8/2018 14:16

Sounds exactly like the company floated around the time of the South Sea Bubble, whose stated aim was:-

“For carrying-on an undertaking of great advantage but no-one to know what it is!!”

[tadtech] 16/8/2018 14:11

Delighted to see the board changes & change of name, this is effectively a new company now.

Those that have lost significant, in some cases, life changing amounts of cash have every right to be bitter, these folk have been replaced by some very shrewd investors in the last placing.

I fully believe legacy shareholders that have continued to support the company will be fully rewarded in due course, will more than recoup their losses.

Having met the new CEO & CFO I have every confidence, they have a plan to restore significant shareholder value, the next few operational and strategic RNS's could be very interesting indeed.

[tournesol] 16/8/2018 13:42

Geotrav - and others expressing optimistic views

Not only do I understand the junior exploration model, I worked for many years (and in many countries) in resource companies and in exploration companies. And since retirement I have made a good living by investing in exploration and production companies - mostly hydrocarbons rather than metals, but the fundamental principles are the same.

The question here is not the credentials of those like me who are critical, but rather the ability of the company's business model to generate returns for investors.

On STI's homepage, in the Company Overview, there is a boastful statement that says: ...Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper…

Now perhaps you can explain how it is that STI has succeeded in discovering all of the above:-
a) without paying any dividends
b) without delivering any gains in share price
c) with very substantial dilution of shareholders
d) whilst the enterprise value, the market cap and the net assets of the company have all dwindled to almost nothing

Where has all that discovered gold, silver and copper gone? What has happened to the wealth created by all of that successful exploration?

I note that throughout its history generous salaries have been paid to directors, management and staff, all of whom have received very substantial personal benefit in the form of remuneration and pensions and all of whom have been given shares and share options for which they have paid nothing. I think I am right in saying that none of these people have ever put their hands in their pockets and bought shares with their own money.

So inasmuch as STI's boastful comments are accurate, the only beneficiaries of their success have been the management and staff. No benefit has accrued to shareholders.

Of course cheerleaders like you want investors to ignore the past and fantasise about a future which holds promise of a golden eldorado which will make them rich. But it is simply not feasible.

Someone famously said that those who do not learn from history are doomed to repeat it. The history of Stratex is that it is not very good at exploration but even when it succeeds it then fails to harvest any value for shareholders and wastes its resources and its energies getting precisely nowhere.

At the time of the first STI IPO, the company had promising discoveries in Turkey and enough cash to take them through to production and an exciting story which would allow additional fundraisng when required. Now it has none of the above.

What exactly can we expect to happen over the next year or two? Something different from before? or something similar?

For me to take the new management team seriously I'd want to see a tough, clear-eyed, hard-headed approach to cost reduction, clearing the decks and focussing on the few tiny nuggets of residual value. I'd want them to leverage their investment in ThaniStratex.

Changing the name of the company? Like renaming the Titanic. Utterly, totally and completely pointless. A waste of very limited resources. A diversion of management energy that cannot make any difference to the ultimate outcome. Raising an additional paltry million? Clearly a complete waste of time and money.

I don't know about an Oriole, I'd say it's more of a dead parrot.

[shoggoth] 16/8/2018 13:03

They should have called it Areola Resources, sucking off the never ending teat of shareholder funds.

[laptop15] 16/8/2018 12:30

https://twitter.com/proactive_UK/status/1030001682887974913?s=19

[observer007] 16/8/2018 11:25

Very very pleased with today's news, we now have a completely new BOD and the name change is welcome.

I have added to my holding today, still significantly under water as a longer term holder but take comfort that the new CEO bought £25k of shares at around .90p

I think there is more to come here, looking at Iamgold's website they say they want to build a mine a their Boto project but need to increase the gold resource, it does make you wonder whether Stratex will sell Dalafin to them.

On the AIM sentiment can turn in a flash, this could easily propel to 2p-3p, the current £2.5m market value seems ridiculous.

[laptop15] 16/8/2018 10:37

Nice to see buyers coming in....SEPT should see a move back to 0.50p + with the IAMGOLD JV drilling results. Wonder will IAMGOLD buy it off STI? another $20 sale would be nice. Imagine what that would do to a 2.5 million mcap?? BOOM :)

[tightfist] 16/8/2018 10:15

If you need a named era and main culprits maybe Englebrecht/Addison is appropriate.Anyway.... On 4th September PA is history - we have as a cleaner sweep as you could ask for. The dream ticket for me would be the (private company) ThaniStratex guys will be at the new helm - but maybe that is just a dream! Then we will see further substantial operating economies and a relentless Africa focus.I have backed today's news with a celebration top-up; time for a new thread to put a cherry on top!Cheers, tightfist

[geotrav] 16/8/2018 09:46

probably why they are changing the name too - making it clear they are not thani stratex, which is a private company i think?

[geotrav] 16/8/2018 09:45

where was that steve1905? was it stratex or thani stratex - different company?

[highly geared] 16/8/2018 09:40

The past is the past , like it or not. You either give the new guys a chance or remain bitter and twisted re: the Forster/Englebrecht era that saw shareholder ‘raped’.
The new name ‘takes the biscuit’ 😂.

[steve1905] 16/8/2018 09:35

I've also seen them claim an area to be 'a new gold belt', raise and spend millions, only to see massive 'write downs' - like today's for example

[steve1905] 16/8/2018 09:32

I've been around long enough to see this outfit explore, locate, produce and sell and not a brass farthing went back to shareholders.

[geotrav] 16/8/2018 09:12

I’m sure they will steve1905, but if they need money to spend on advancing good projects, what’s the issue?

Do you understand the junior target generator / exploration model...!?!?!

[steve1905] 16/8/2018 09:10

They have a track record of squandering millions of pounds - with no return to shareholders. They now have a new management team who want to wash their hands of
past sins, so they come up with a new name. Their running costs have been in the region of 2 mill a year for quite a few years - they recently raised £1 million, I'm predicting they will be back for more before this time next year.

[geotrav] 16/8/2018 08:58

steve1905, “administrative and operational costs” - they’ve just got new projects in Cameroon and are operating in Turkey... that costs,unless you’d rather they just left the money in the bank and did no work?

For me I look at a team that delivers on exploration without squandering / excessive spend - I’ll be interested to see how they do in Cameroon.

[steve1905] 16/8/2018 08:47

Costs still running at £2 million a year.