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A pattern does emerge. Somebody thinks they know something. We shall see. We have to hope that common sense is common.
A few 200k blocks being picked up of late - are we finally going to hear some news here soon?!!
Are you invested here Hothead1?! I certainly don't want to see STI go bust, but would like to think a month on, that there's been some progress at Altintepe with Bahar by now to report on. And when are the final results for last year due for release, as they're a few weeks late too? Is this board doing anything at all - they're not just naive, but managing this business and communications with its shareholders poorly too by the looks of things.
Why don't these bunch of t-ss-rs just go bust and do us all a favor
On the matter of the directors and management, Stratex International apparently comprises a highly experienced management team, supported by top-level financial and commercial colleagues at Board level. Great words, but I'd suggest that if this is the case, then they need to start pooling their collective experience together soon to prove they're worth their money and get this mess of their making sorted asap.
All my shares in profit except this sleeping potential multi bagger and the poorly run ACP. With all that money from Altintepe due, I always saw the MCAP here as being incredibly low. Clearly there's a major legal row brewing here, but you'd like to think sense would prevail. Bahar have clearly done the dirty here on the original agreement and it was apparent from initial RNS's that monies hadn't come over as expected. Worse, the fact that Stratex can only estimate gold production now is proof they have no clue about how much gold has been extracted and sold - there's clearly no lines of communication between the two companies. Stratex have always been poor communicators to their investors sadly and their board deserve nil respect for their whole part in all this fiasco. They need to pull their finger out here and stop being so naive, so that the true value of this company can finally be realised. I'm still confident we'll see a doubling or trebling of the SP from here, but wouldn't like to guess when.
Heading up---rumour of in bound cash perhaps.
I suspect there are few shares left in the free float here after recent activity and it might explain the wide spread we're seeing at the moment, which is clearly designed to suppress buying. I can see this bouncing strongly at some point soon, but we need some positive news soon, particularly on all this money we have due from gold sales at Altintepe ... or was the agreement there written on the back of a fag packet?!! You have to wonder at times why some of these board members of AIM companies are paid the big bucks at times. They must employ solicitors who are barely able to get them off a bus, never mind draw up a binding agreement, LOL!
The RNS talks of cash in the operating vehicle ... which suggests that Bahar are not stripping out the money. Maybe they are trying to drive Stratex into a debate over the future share of the income going forwards. Our New CEO has worked for the " Big boys" and small boys .. hopefully he will be able to find a way round.the impasse!
My Observations...... Marcus word “Impasse” used in the RNS yesterday. A situation that is so difficult that no progress can be made; a deadlock or a stalemate A position or situation from which there is no escape; deadlock. Solutions: Legal Question: After going legal, how can the trust in the relationship regained! Question? With Bahar having debts of £40million, presumably paying interest on the cost of building the mine, why go for lower grades and increase your costs? The first 6 months they good grades generated a return of US$32.73 million - Second Half US$11.61 million - estimate Only, Surely as a miner with a debt, you go for good grades try and pay it off as quickly as possible? Why has Marcus given us an estimate? February 27th 2017 Estimated production for the financial year ended 31 December 2016 is 35.8 koz gold and 41.6 koz silver, generating total revenues for the mine in excess of US$45m Previous RNS 11th August 2016 Exact Figures Project sales in H1-2016 of gold and silver generated total revenues of US$32.73 million. Aggregate project revenues (5(th) November 2015 to 30(th) June 2016) stand at US$33.39 million; Could it be that the relationship with Bahar is so poor that they are not even sharing figures? If Bahar are not happy to part with 20% of the revenues, what chance do we have of getting the 45%! I HELD 3.45million shares in Stratex
there will be a large sell order in the background which will be disclosed maybe at the end of play today or over coming days depending on how big it is.
6.5 million shares bought and the share price drops nearly a quarter. Unbelievable!!!!!
"As per the terms of the Joint Venture agreement (Press Release dated 6th December 2011) partner company Bahar Madencilik will recover its pre-production costs (including US$39 million construction costs) " So with $45m revenues, the question is, how close is Bahar to being completely paid off?
No news is generally bad news so this is no surprise. The bigger picture would be if the Turkish Government will allow commercial contracts with external 3rd parties to be ignored or broken. It has had a very tough year and if Bahar are in breach of contract they may face pressure to conform as this may put off other inward investment projects. Which the country will desperately need. Stratex chases Bahar Madencilik for cash distribution 27 February 2017 | 09:20am StockMarketWire.com - Stratex International said it has yet to receive cash distribution from Bahar Madencilik, its Turkish partner on the Altintepe Gold Mine. Stratex believed this was contrary to contract and was taking appropriate steps to enforce its rights.
would be, more or less? What is the profit over $45mln revenue? Thanks!
Agreed. The only positive from that RNS is that legal action wasn't mentioned. I'm sure we'll be working out how much our 20% should have returned to us but it has been about a year that they have been in talks and still no resolution.
Except for the fact that their partner on their main project is not paying them their dues. Hence, the reason why this is going down. If it is temporary/a misunderstanding then this will correct itself over time. However, if the partner is basically thumbing its nose at STI then expect a prolonged legal action and sustained downwards pressure on the share price.
Altintepe Gold Mine, Turkey (Stratex ownership: 45%) Estimated production for the financial year ended 31 December 2016 is 35.8 koz gold and 41.6 koz silver, generating total revenues for the mine in excess of US$45m. Stratex management is confident that the mine will deliver significant long term cash flow.
This company ain't going anywhere fast !!!!!!!!!
Final results should be due in 3 or 4 weeks. Perhap they'll tell us something then !
Yep total joke. All the talk from bob foster. You wouldn't think we were a gold producer even with price of gold on the up and we still head down. ****ex
It must be custard pies rather than custard creams in the boardroom. The ongoing silence here is getting ridiculous - since the Interim results in August all we have had is news that the Chairman was replaced and that another company is drilling. Nothing about what Stratex are doing. And I always thought I knew what a laughing stock was.
Let's hope so
Could happen here. I bought in for the potential of a buyout TBH.