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% 0.425p 0 05:00:01
Bid Price Offer Price High Price Low Price Open Price
0.40p 0.45p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -4.73 -1.13 3.0

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DateSubject
28/8/2018
11:23
tournesol: thecoyone I've already told you that I have no exposure to STI's share price. I do not own any shares. I do not have a short position. I do not believe that it would be possible for anyone to establish a significant short position. For that to happen a holder would need to lend his/her shares to the person taking the short position so they can be sold. STI is so small that there aren't enough shares for such a transaction to take place. As for naked shorts, the idea that the share price trend has been influenced by naked shorts is even more preposterous. Naked shorts can remain in existence only until the sales transaction is closed by delivery of the shares. That means in 5, 10 or at most 20 days. Look at the chart of share price here. It has been heading south since 2012. It is simply not possible for naked shorts to be sustained over such long periods. Apply Occam's razor. Either the company and its management has failed or or there is an international conspiracy to follow a naked shorting strategy, that has been pursued by person or persons unknown for a 6 year period and has undermined the share price. You do not have to be a genius to figure out which of these scenarios is more likely. If you study the detailed history of failed projects, chronic over promising and under delivering, managers with no interest in the welfare of share holders etc etc etc, then it is really easy to figure out which of these alternatives is actually the case here.
16/8/2018
16:51
tournesol: 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
16/8/2018
13:42
tournesol: 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.
16/8/2018
08:15
tournesol: geotrav you appear to be a troll sponsored by management to claim that all is well in this the best of all possible worlds whilst demonstrating ignorance of the omnishambles that is STI and a lack of insight into its dreadful history FYI I have no exposure of any kind to the STI share price I did invest in years gone by and must be one of the few to have exited with profits I occasionally post here because I am appalled at the disgraceful behaviour of management, their utter incompetence and the complete contempt they have demonstrated for their shareholders Clear?
02/8/2018
08:31
tournesol: 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.
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
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.
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