The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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And had the foresight to let the RRR team become involved in GRL - would not know gold if they fell over it -
Good for nothing more like. The sp has come crashing down from 2.5p just a few weeks ago as the market realises that there is no money coming in and plenty still going out. It seems as though everyone bar a few have now realised that everything that these incompetents touch turns to mud ( or should that be clay ). They have made NO discoveries in many years now, even Altintepe, Inlice and Oksut were discovered by the Turkish Geological Survey, added NO JORC resource in many, many years now, Never paid a dividend in spite of selling the company jewels to pay for directors pay rises, bonuses and dividends. They now co-own the Altintepe gold mine which it turns out entitles them to absolutely no financial recompense too. You couldn't make it up !!
Not looking good from where I am sitting but yes hope it does well.
Hope this company does really well.
This is my take on STI, please dont take it to heart just my opinion whiles we wait for the company to announce. 1st 2.5 month produced 12280 au gross amount $14.3 million End of June 7000 au gross amount $ 18.48 million Totalling $32.73 million With the new clay treatment facility installed, this should increase the production of gold. With an operation cost of $560 au oz, for the sake of calculation I would add exta $200, so $760.00 net cost, when you start going above $800 then I don't class it as low cost production. I will take gold at $1300 au oz, so profit margin is $540.00 au oz, a percent of 41% Gross figures 2.5 month, $14.3 million, STI 20% stake giving $2.86 million, net money $2.0 million, (£1.55 million) 6 months, $32.73 million, STI 20% stake giving $6.54 million, net money $4.65 million, (£3.60 million) 12 months, $65.00 million, STI 20% stake giving $13.00 million, net money $9.2 million, (7.13 million) Once you start going above $65 million then the JV partners will receive there $39.00 million a lot sooner then we think, especially if the gold price increases.
Ivans problem is there is no revenue, there was an asset sale last year of the last of Oksut. Meantime Administration costs are over £2million a year and so Stratex bleeds cash. Altintepe was the hope but there is a problem with the agreement with the majority partner and some legals so no cash coming in. A mess.
despite the revenue is good, yet we are not making money. therefore we are having operating loss. question to BOD, why are we not making profit? and when can we start making profit?
First gold pour 9 months ago, agreement with majority shareholder Bahar is stalled and no cash paid out. It'l be fine or ?
STI share could be in the order of $7mill for 6 months & more than $14mill for the year , assuming the average gold price remains similar & production increases , as expected .No cash distributed as yet & our partners investment needs to be covered but this is great news for STI & IMHO leaves us vulnerable to a low ball bid, possibly by our partner.
wow $32mil revenue just for h1 they own 45% so say $16mil H1 how much profit is that I wonder? anyone don caculations?
Stratex had 10 times that cash in the Bank 2013 plus sale of Oksut NSR now running out exactly how much cash has Stratex received at Altintepe ? Still in negotiation 5 years after an 'agreement'
just seen there was a 2nd rns... The cash balance for the Group as at 30 June 2016 was £2,728,190 (30 June 2015: £2,533,278). Not bad.
Nice one... Project sales in H1-2016 of gold and silver generated total revenues of US$32.73 million. Aggregate project revenues (5th November 2015 to 30th June 2016) stand at US$33.39 million; MCAP £9M?
Another day with no news and a large drop in the share price. This is just ridiculous now. I wonder if Bob is checking the share price out on his phone while he is in his deck chair on holiday. I would love to know what he thinks about this lack of news. Anyway we will get some news before the months out because interims will be due.
The agreement we were told was made 5 years ago? but is to change and unlikely to be better when additional capital costs and Mine closure costs are under discussion ?
Stratex have there team in Turkey working with there partners, so hopefully soon they will announce and update the market, we just have to hope it is very good.
Re lie able ? Source. Really ? Total Rubbish. There has been deafening silence from Stratex for months and if your re lie able source were real it would be insider information. Unlikely material for a BB and Internet . Beware such rubbish probably due bored desperation ramping with no news.
Hi Guys, I hear from a relieable source that there is news coming from Bob with the nect 2 weeks, some of the questions we all have will be answered soon!! The strong suspicion i have is its very good news :)) I took the opportunity to top up today while they are still cheap! Gool luck all
I think Bahar are having the joke.