Share Name Share Symbol Market Type Share ISIN Share Description
Stratex LSE:STI London Ordinary Share GB00B0T29327 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 0.55p 32,535 06:36:07
Bid Price Offer Price High Price Low Price Open Price
0.50p 0.60p 0.55p 0.55p 0.55p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -4.7 -1.1 - 2.57

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09:39:470.5032,535163.00O
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DateSubject
18/6/2018
09:20
Stratex Daily Update: Stratex is listed in the Mining sector of the London Stock Exchange with ticker STI. The last closing price for Stratex was 0.55p.
Stratex has a 4 week average price of 0.50p and a 12 week average price of 0.44p.
The 1 year high share price is 1.45p while the 1 year low share price is currently 0.44p.
There are currently 467,311,276 shares in issue and the average daily traded volume is 1,193,468 shares. The market capitalisation of Stratex is £2,570,212.02.
14/6/2018
13:43
tournesol: Tightfist I have to say that I think it is simply not possible for management to get it right from here on. They simply do not have any assets worth progressing and furthermore they have neither money nor any source of income. Given the company's track record of value destruction there is no way that they can raise additional funds on anything but a derisory scale (as we saw recently where the most they could raise was a single measly million. Without funds there is nothing that anyone can do. The most talented management team in the world can't conjure up a transformative deal or a rescue plan from thin air. The best thing they could do is liquidate their few remaining assets and distribute the proceeds to their shareholders so they get back a small fraction of the current share price. Of course they are not going to do anything as sensible as the above. They are going to keep paying wages for as long as they can until the money runs out. That is the optimal approach for management but the least satisfactory approach for shareholders who will end up losing whatever residual value remains as of today. This reminds me so much of Northern Petroleum (NOP) whose business followed a near identical trajectory. Sic Transit Gloria…...
13/6/2018
07:45
tournesol: The dwindling share price has reduced the market cap to a paltry £2.5 million, so the fund raising represents almost 50% dilution. That is not a business. It's a hobby. It's worth less than many houses in the South East. No way can it justify paying £700k a year to its inept management team to manage its vanishingly microscopic level of activity.
11/5/2018
09:54
troc1958: STI becoming a punt on whether new CEO can turn it around. Mkt Cap of 2.5m vs cash of 2m and 0.5m owed to them. IMO only two possibilities ...can IMGOLD add value in Dalafin for 4m spend ...good chance! Can Thani list on TSX and fund next phase of Djibouti and deliver an increased resource ...good chance. Ethiopia licences were "dead" anyway....share price reaction seems overdone. STI now a 5/1 third favourite in a large field race of listed AIM exploration companies being bet on by mug/loyal punters like ourselves!
20/12/2017
09:34
romeike: Several interesting points about the raising: - A private raise essentially funded by the directors and pals, presumably due to no interest from the wider market. - Englebrecht and Copulous pocketing a significant number of shares as part of the raise, not clear what funds, if any, were actually contributed by them - subject to approval of Shareholders. - CAS share price hit a new low this morning as you might expect at just 0.69 cents, a small fraction of what Englebrecht was offering them using Stratex shareholders cash. - Having raised just 3.3 million I can't see how this will cover their excessive management costs for any reasonable period on top of no doubt generous ongoing fees for Hannam and Partners. - given the above it looks like Marcus has no intention of repaying Stratex any time soon, Marcus calculating that their Balance Sheet will be just about good enough now to get them through a listing application? - this "whip around" looks to me like emergency funding to try and get them across the line with their high risk attempt at an AIM listing. CAS shareholders can certainly expect yet another raising within months. - you have to feel sorry for CAS shareholders, the grasping tentacles that choked Stratex are now firmly wrapping themselves around anything of value at CAS.
13/10/2017
11:53
novice52: Since 2013 I have watched this share price fall from 4p to 1.6 today. What have the directors and management done to earn their salaries. In my view the case put by David and Paul is very strong. Forget all the personality stuff and re-read the facts about how bade the Cruader deal is. "Dear Stratex International plc (STI) Shareholder, Proposed reverse takeover of Crusader Resources Limited (CAS) by STI We together hold 24% of STI's shares and have long been its supporters. David Hall and Paul Foord were founders of the business. STI has always focussed on early stage gold discoveries. It is deeply concerning to us that management has decided to stray into an area where, we believe, they lack sufficient expertise and will be unable to deliver an acceptable deal for shareholders. We have stated our objections in letters to the Chairman from AngloGold Ashanti, Teck Resources and David Hall, amongst others. Unfortunately, the directors have ignored these objections and proceeded with this expensive and value destroying deal. Accordingly, as holders of over 5% of the shares in STI, we have required the directors to circulate this statement to STI shareholders and convene a GM to vote to: a. terminate the transaction; b. remove Peter Addison and Marcus Engelbrecht as directors; and c. appoint David Hall and Paul Foord respectively as directors. Rationale for terminating the reverse takeover This transaction is highly risky and value destroying for STI shareholders for the following reasons: · Strategic Focus. It represents a completely different focus for the business, which is naïve, significantly riskier (due to the lack of mining experience) and value destroying: o STI has ten years of exploration and development experience in Turkey & West and East Africa. A move into operating a mine (in Brazil) represents a significant diversification. o STI tried a move into mining in Turkey by partnering with a recognized mining contractor but unfortunately, it failed due to a lack of mine management expertise. A salutary lesson that mining requires a completely different set of managerial skills and years of experience. o STI/CAS will need to raise significant funding (circa $100m) in order to develop either project into a mine. o The most significant uplift in economic value is achieved through early stage resource identification and proving thereof. This is the reason the current shareholder base invested in STI. o The 20:1 roll-back is likely to result in further loss of value and greater dilution when raising new funds. · Economic Grounds. The deal places a premium of 63% over Crusader's current share price. STI's valuation is based on cash at bank ($7.75m), effectively treating the company as a cash shell and takes no account of STI's assets in Turkey, Africa, Egypt or Djibouti ($7m): o STI's value should be $14.75m rather than $9.4m - a discount of 36%. o CAS's share price is A$0.11 equating to a value of $24.6m, rather than $40m - a 63% uplift o STI shareholders could invest in Crusader at A$0.11 - there is no reason for STI to do this on our behalf at a higher price, with no synergies. · Control/Dilution Grounds. CAS shareholders will own 81% of STI. STI shareholders will be diluted and lose control. · Resource Grounds. The undeveloped assets in Brazil have been around for some time for a reason: o The two potential gold resources are questionable on economic grounds. o Numerous other companies have considered acquiring the concessions and have not proceeded o STI doesn't have the insight nor expertise to prove otherwise. · Operational Grounds. There are no operational synergies between potential gold mines in Brazil and STI's current exploration operations and technical staff in Europe and Africa. · Managerial/Expertise. There are no synergies nor savings possible as the STI management and technical team is not experienced in developing and building gold mines · Contracts and Expenses. The combined business (including all of the existing CAS and STI senior management teams) is going to be top heavy and very expensive: o The CAS structure includes senior management in both Brazil and Australia. Combining this with STI's management in London, the combined business will boast senior management teams on three continents. o The CAS directors (three) have two-year terms and salaries of A$350k each or $260k each plus the Australian and Brazilian overheads. Significantly increasing current overheads.
10/10/2017
20:30
tadtech: It is quite simple, Anglogold Ashanti, Teck and every major shareholder in Stratex are against the merger, Blackrock have yet to declare apparently. I have yet to see anyone who believes this proposed merger will be beneficial to EXISTING Stratex shareholders. In one foul swoop Stratex want to issue 2 billion shares to acquire a company that is in financial dire straights, they want to pay double the current market price, within a few months want to raise (via equity) even more cash, possibly $10m. By year end IF the merger completes Stratex will almost certainly have over 3 billion shares in issue (now 467m) and that is before the matter of raising another, wait for it, $80m to $100m to build the mine. 250m executive options will be added to the equation to 'incentivize' management of which Marcus will be entitled to 50%. Basically existing holders will be diluted, wiped out, call it as you will. To get to the average 18 month Stratex share price of 1.9p the merged entity would need a market value of £60m compared to only £9m now. Only last year Stratex shares were trading at 2.5p, Hannam say the existing assets are worth 3.5p a share. I believe that if the merger fails there will be a strong rally in the stock price, it is clear the market hates the deal. Remember what share price Angel, presumably John Meyer, stated in a 'morning briefing' What planet are Stratex management on they asked, they have pulled the proposed merger apart.
19/9/2017
18:46
tadtech: What the current Stratex directors seem to ignore is the share price and the plight of EXISTING shareholders who may have paid 3p+ Shareholders are only interested in the value of their investment. Since the tenure of Marcus Englebrecht the share price has collapsed to historic lows with no real signs of recovery. It is clear the market does not like the deal. For the share price to return to 2p, based on the current issued capital, the market cap would only need to reach £9.35m, a modest increase from current levels. If the Crusader deal completes the market cap would need to reach £50m to return to 2p, a massive uplift of £25m needed, based on the current value of CAS & STI in the market right now Not one director of Stratex has bought shares in the last 3 years, the newly appointed CEO has a NIL holding. It is ironic that the current BOD are now ridiculing the implied proposal of David Hall to merge Stratex with Thani-Stratex but this is what was said by Marcus in May. "I am delighted to be able to announce Stratex's participation in the successful US$1 million fundraising that will enable further drilling at Anbat. Results to date have been highly encouraging, delivering a number of high-grade gold intercepts. Consequently we are excited by the future value that we believe the Prospect can deliver to our shareholders, and look forward to updating the market on the results of the drilling programme in due course."
20/6/2017
15:43
tadtech: This company needs acquiring by an entity that knows how to work the AIM market, look at what Gevaise Heddle has done at Greatland Gold with very little money, a 400% share price increase + getting a blue chip major involved in their main project. Stratex has £6m+ in the bank. I sent an email to Stratex suggesting I would be amazed if the larger shareholders accept the deal, it is truly awful. I said I will be voting against it unless the terms were reviewed. It is clear Crusader were desperate for cash so why did Englebrecht agree to pay a 65% premium? It would have been more palatable if the deal had properly valued STI's cash and stake in Thani + other assets, possibly by getting a larger slice of Crusader (35%) and at a share price more reflective of the 12 month average performance (1.85p) I am at a total loss as to why Englebrecht pitched it like he did. It seems a number of Crusader's private shareholders are also bemused pointing to the drop in STI's share price.
20/6/2017
13:22
charles clore: I reckon there will be a no confidence vote in Marcus, Emma will take over as caretaker CEO and work with Thani to develop it as an IPO later this year. The STI share price would rise strongly on such news imho.
28/2/2017
16:05
charles clore: Shorty - I can see real value emerging from development of those two assets. And it will mean something tangible that will lift the STI share price right out of the water imho.
Stratex share price data is direct from the London Stock Exchange
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