Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Option Agreement signed with Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques SARL (BEIG3) to earn-up to a 90% interest in the Projects. Under the terms of the agreement:: Stratex can earn an initial 51% of the Bibemi and Wapouzé projects by funding US$1.56m on exploration over 2 years ('First Option') - minimum commitment of US$0.56m within the first year Stratex can earn up to a further 39% (for a total 90%) interest in the Projects for further exploration expenditure of US$1.56m (or completion of a pre-feasibility study on one of the projects) over subsequent 2 years ('Second Option') BEIG3 to retain 10% free carried interest in Projects up to completion of Second Option or a pre-feasibility study on one of the projects Stratex to manage the project and BEIG3 will provide consulting and operational/logistics support via a technical support agreement; The Placing proceeds will be used to earn-in to the two early-stage gold exploration projects in Cameroon. Successfully raised £1.15 million before expenses and will apply for the Placing Shares to be admitted to AIM with admission expected to take place at 8.00 a.m. on or around 19 June 2018.
I hope they have some other pieces of news up their sleeve - even though the company did not dilute shareholders with placings when other companies were after the crash, it looks like we won't be generating any profits here for quite a while and may need to follow suit. Maybe the new guy didn't get the memo. Stratex has virtually no money, none of their projects will be generating income for a number of years. We need a short term strategy to finance the continuation of the company. Solution: Increase the number of shares in issue by over 50% and more long-term projects. Can't wait to hear the next interview from Tim.
You can't make a purse out of a sow's ear. The facts are that their projects are rubbish. Spin and bluster cannot sustain a company for ever. But some individuals made good money out of it.
Retirement of CFO and Company Secretary Perry Ashwood with effect from 4 June 2018. Perry, who joined the Stratex Group in September 2005 and saw the Company through its AIM listing in 2006, had informed the Board of his intention to retire when a suitable replacement could be found and will be replaced in both positions by Mr Robert 'Bob' Smeeton, who will be appointed to the board with effect from 4 June 2018. He will continue to support the Company as a consultant in order to provide continuity for his incoming replacement, Bob Smeeton. Bob has extensive experience of working with AIM companies, contributing significantly to the successful turnaround and growth of several companies during the course of his career, and in turn delivering material value to shareholders. Bob was Group Finance Director of AIM-quoted Universe Group plc ("Universe Group") and its main trading subsidiary, HTEC Limited. Past directorships and partnerships Bellword Limited Bizpoints Limited First Remit (UK) Limited HTEC Group Limited HTEC Limited HTEC Retail Services Limited Indigo Retail Technology Limited Indigo Retail Holdings Limited Inter Galactic II Limited Master Change Limited Masternet Associates Ltd Prepaid Card Management Limited Retail Markets (Europe) Limited Spedinorcon Limited Universe Group Plc Universe Trustees (No.2) Limited WSF Services Ltd.
Soon to be BUST the way there going. Very sad times for this disorganised company
What is going on here?
Sorry my error alter Exec-Chairman in above post to new CEO
Thani-Stratex was and is dismissed and ignored by Stratex Board really a joke with the same old Chairman who despised and resisted shareholders for promoting a larger share of Thani-Stratex over Stratex Board’s smelly and ignominious disastrous Crusader deal and since then the new Exec Chairman has continued to push away from Thani-Stratex looking for some unknown new venture to invest in, a grossly mismanaged company that has rewarded the Board at huge cost to shareholders. Recovery for whom not us no way
Yeah they all say that
Looks like there has been some new coverage which includes an interview with the new CEO who recently bought 2.5m shares, he points to chronic undervaluation of the Co �The next 12 months are going to be very, very active�: new Stratex boss Tim Livesey on how he will turn the company around http://tinyurl.com/y86c3o4a
is he selling here too, not a professional investor. I bet the board are not happy with him. Is the guy going through a divorce, he selling some on RRR too..
Ha ha, maybe not
Excessive Admin and pay, financed by bad decisions and asset sales now heading for the final desperate dilution for shareholders.
Although CON does seem like a perfect name for an AIM company
Sorry CGNR not CON
Unfortunately just another in a long line of failed mining companies on AIM ASA, SMA, ALO, AVM, CON etc.. etc...
I haven't spent much time on share dealing of late, but have alerts set up of course just in case anything goes pear shaped or flies, but thankfully most of my portfolio is perfoming well. I'm invested in some decent, well funded companies who I remain confident will be continue to be great short, medium and long term performers (ie BMN, SML, MTR etc.). But for some reason, I still have this shambles on a list of companies that I keep track of and when I look back, i can see that I've wasted far too much time moaning about it on this site rather than extolling the virtues of all my many far better holdings. There was a time when I genuinely believed in this company and thought it was going places, but it's been so badly mismanaged for so long now, that its hard to find any positive to say about it now. Its pretty much dead in the water and a more inept job I think you'd be hard pressed to find even on AIM. Month by month, year by year, the directors have continued to make one crazy decision after another and at times, I've been truly amazed at the level of idiocy. Great potential assets have been lost for a song, bad decisions one after another, ill thought out RNSs that have had to be altered hours later, large sums of money frittered away on God knows what and bit by bit, all shareholder value has been eroded and lost and the SP just drifts down and down. Its hard to imagine how much worse any group of Directors could have performed over such a length of time and its like whoever comes in just loves failure. I've compared them to Brewster in the past, but at least he was throwiing his money away to achieve a greater fortune - this lot just come over as absolute incompetents who quite frankiy, I wouldn't trust to run a tuck shop. If there was just a tiny chink of light at the end of the tunnel, I would understand it, but this is just sad and I genuinely sympathise with any holders holding on to the belief that this shower in charge will turn it around. I only ever had 100k of shares in here, so losses weren't life destroying, but I'm just glad my other companies are better run than this. i genuinely wish good luck to anyone continuing to hold here and truly hope it turns a corner one day for you, but I like many others have lost all confidence in the board here in all is guises sadly.
What a ridiculous and sad situation this company is in. Long gone are those days of uncle Bob rewarding themselves with big payouts. Ariana went the same way with the arrogance of a board thinking that they had achieved at the first hurdle. Bob Foster gave away and stole shareholder assets and since it has been one bad decision after another. Sad really sad.
Last seen adding to his position in December north of 1p here, an activist investor & very succesful at that. Made huge sums on JOG and currently +100% on RRR. Great start from the new CEO here, first day in CEO capacity and he delivers a JV with a 3 billion dollar concern in IAMGOLD. Path of least resistant seems well north of here now. Should see a return to 2-3p levels in fairly short order, a 10 to 15m mkt cap it is all day long with 2.8m in cash to boot.
STI also retain royalty and percentage + TSR value of £5.8m. Cheap here.
Good first move from incoming CEO. Have an inkling with the tight free float here this could fly when news sinks in. Fallen from heady heights, think like TYM it recovers some ground pretty quick when volume comes in. At 4m mkt cap with 2.8m of that in cash that doesn't leave a much priced in. The JVs worth circa $8m to Stratex today with IAMGOLD ($3bn concern) alone. Should move through 1s. Think 2p good initial target here.
Very solid.
Does look a solid bit of business. I'm in.