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Have just topped up with a small amount of shares in the belief that Marcus Englebrecht knows what he is doing as he will be aware of the bigger picture and what he is trying to achieve. After all that is why he was recruited in order with his experience to take the company forward and it is early days yet. The problem that I have is the size of the placing that the company may produce?
Disappointed that at this price we're not seeing any directors buying. It's hardly encouraging!
Yes, CEO upbeat at least and if some of their assets in Brazil are genuinely as close to production as implied and investment is forthcoming, then he might turn it around and be cash generative. In the meantime, this remains in the bottom draw for now.
Rns this afternoon releases an interview with Marcus by Proactive, in which he is optimistic & enthusiastic , although I appreciate that it is all part of the drum beating,possibly ahead of a fundraiser to accompany the acquisition,assuming it proceeds.
Well let's hope Englebrecht knows what he's doing here, because his handling of the business and negotiational strength shown to date haven't exactly inspired any great confidence have they?! I've not found time to fully research Crusader Resources, but after a quick scan of recent figures and outlook, they seem to have some decent potential resources, but it looks like our combined cash won't support both companies costs and losses for much more than 12 months, unless a quality revenue stream comes online pretty quickly from one of these 'close to production' mines ... over to you Marcus!!
So this is what was hinted at in the final results. Making STI a gold producer ASAP by acquisition. Crusader 100% owns Juruena, which is a 1.3 M oz deposit. With 500k oz of historical production since the 1980s. This could be just the fast track to production that STI needs. Then they have the 100% owned Borborema project. 1.6 M oz and the resource "remains open in all directions." STI has historically championed joint venture projects... and look where that got us. With these 100% owned projects, and the old guard fading into the background, we have a new STI with a new strategy and new deposits. Bring it on I say.
Totally agree and with this new deal, I seriously wonder about Englebrecht. Its not ideal to my mind and just dilutes STI, I mean ... 2.5 billion shares now and at a massive premium?! Suspect it'll just give them an excuse to increase admin costs further, as this useless BoD pontificate. I despair on this share, but thankfully its only one of my older and smaller punts. Really hoped for better here as this had so much potential. This CEO would buy a stockpile of VHS machines and be waving a paper around like Chamberlain - the guys done nothing to give me any confidence in his negotiation ability sadly.
Not quite the way I see it. We are purchasing a company with a value of £31.1M, so of course if we can't pay in cash, it will be in shares. I haven't had time to research Crusader Resources Limited but it looks like they have a number of promising mines but have not developed these due to funding. The lithium and uranium mines sounx interesting too.
Stratex are not the predator in this scenario. Stratex taken out for cash value. All of the assets amount to nothing. In fact less than nothing. Asset stripping at it's worst. I hope the kickbacks were worth it.
Now we know why we exited the potential for production in Turkey.Massive dilution but massive increase in JORC to over 2.7mill ounces in Brazil & ,if proceeds, we will be a much bigger player.Affect on our SP ???
We've hit a new 52 wk low well done to the new CEO I knew he could achieve something. Well done you - IT !!
It is worth remembering that Thani-Stratex hope to IPO in Q4 and they expect to obtain a market cap of about $25m, that figure was suggested before the outstanding drill results recently reported. My point is that the 30% stake in TS could be worth £6m-£7m alone, that is very close to the current market cap. Then there are stakes in Muratdere and Goldstone and the Dalafin project all in for nothing. Then cash of £6m - £7m I conclude the company is materially undervalued but it need a catalyst to demonstrate this, poor PR and a lack of a firm and identifiable mission statement does not help. I am very disappointed by the exceptionally low profile of the new CEO who has now been in place 8 months. They also refuse to meet shareholders via organized events
Well, they can afford it now with at least 80% of their MCAP in cash ... and I see we already have over a million shares bought today already and a small tick up ... woo-hoo!!
Didn't take long did it? From Capital Drilling (Trading Update-Highlights) Thani Stratex (Egypt): 1 diamond rig, commencing Q2 2017
Getting out of turkey would seem to be a wise move at this point. It's just a massive shame and a crushing blow to long term holders that it happened just when Altintepe is pouring gold.
Mozzie, I didn't infer anything. I may have implied it, to which you inferred... what did I imply? I too am disappointed with the Altintepe farce and I agree, holding a stake in another company, especially a private one, is no guarantee of realising any return on our investment. I don't think the market really knows what to make of Stratex. They have alot to prove before anyone will think of this as more than a cash shell. The areas they intend to invest in may be as critical as finding any gold. I just hope we have received the $ payment and have converted this to £ as I believe Trump is intending to make changes to the tax system soon.
Try writing to them as I did. I couldn’t have made my disappointment clearer with the poor return from Altintepe and said they’d let their shareholders down. As you’ll appreciate, they can’t say much outside of an RNS, but to quote their reply ... The sale of our 45% stake in the Altintepe Gold Mine marks a decisive move to re-focus the vision of the Company. The Board believes that the sale price reflects the full value of the project and that the Company is now in a strong position financially to advance its exploration projects whilst pursuing valuable acquisition targets. As you are aware, Turkey as an investment destination has been attracting increasingly negative commentary post the 2016 political turmoil. Even more so with the results of last week's referendum and increasingly negative anti-EU rhetoric. Although we may not necessarily share all the opinions expressed, we do believe that the sale was well-timed and that this is a positive outcome that will ultimately facilitate Stratex's key goal of creating long-term value for all our shareholders. In response, I told them that I hoped this money would be used wisely on some near to production ventures and not simply frittered away on more long term and questionable exploration projects and increased administrative costs, as has been the case here in recent years. Also told them that my support continues for now, but like many other holders, I had to admit that my patience was running thin with our new CEO, of whom I expected a lot more. In summary, I think what we're left with here is a company with at least £6.25 million in cash and probably a fair bit more, yet it only has an MCAP of less than £8 milllon?! STI remain a bargain, but their next investment is key to value here - let's hope the CEO finally shows his worth here.
The problem with what you infer is that we had 45% interest in the last project yet we sell for the money they owe us!! Having percentages in other projects does not amount to much it appears. Totally agree we need the full story on this. I suspect the price would crater if they told us mind you. At least the board have ensured they are paid for a few years. I could clearly sell at a loss but this company should be moving forward instead of selling assets for buttons.
So without Altintepe, the market currently thinks Stratex is worth about £1.7m? The cash balance for the Group as at 30 June 2016 was £2.7m Admin expenses I would estimate at £2m per year It will be interesting to see the final results - I think in June. It would be good to know what has been going on here, but at least we have money. Not sure how fast Goldstone will be moving or how much finance will be required to progress it, but I don't expect a large amount will be invested there. If Thani are taken public and become listed - that may increase our net worth with 30% interest in the company.
The final drill results of Thani Strates drill samples did not make it as an RNS here. But worth a read. The Anbat project is developing into a significant discovery with extensive open-pittable gold mineralization supplemented by high grade lodes or shoots. This model will be further tested with future drilling with aim to define a resource by mid-year.” Anbat prospect is part of the Anbat-Shakoosh gold district defined by TSR with 5 defined areas of gold mineralization, namely from north to south – Quartz Mountain, Anbat North, Nofret, Anbat and Shakoosh. http://www.thanistratex.com/news/ for More info:
If we was making just say $500.00 profit margin and we produced say 40000 oz with 20% take taken away taxes we would have £2.3 million. With the 45% stake taken away taxes, we would have made £5.3 million.
So what went wrong?? how come a near majority stake in a mine scheduled to make millions is almost given away??? The current CEO did not organise the original deal but he has done this one and he owes shareholders an explanation beyond the bland information-less statement given!! as for value going up by the value of the cash injection the pre deal value of the company included the Altintepe asset. That has now gone and we have $8million in cash and.. this company has a record of burning through cash and achieving nothing. look at the 5 year share price graph. and when they get an asset that has value .. it seems they give it away. Long suffering shareholders deserve an explanation
Not very happy about the sale, but on the other hand if there was going to be problems receiving our part of the money, better getting something then nothing. Our value is £8.65 million and now we will get another £6 million giving our value near £15 million. Our share price once the funds our in should be near £0.03 pence a share. If STI can also come up with some good news before the money is received then this will help move the price up.
This company seems better at getting rolled over and talking bull s--t than finding gold