Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
In stead of investors being so derogatory about the proposed deal it would be much more helpful for them to explain logically why Marcus is wrong! For Institutional Shareholder Services inc (ISS) to come out in support of the deal surely means that Marcus can succeed and, that means the objectors should explain why the deal will not work in financial terms? I do not possess the acumen to prove the case whichever way it is decided however I do know that if the proposition is attractive enough finance is not an obstacle. Perhaps before I get shouted down again one takes the opportunity of coming up with the value of the gold prospect and from there it should not be too difficult to determine the economics as just like you, I do not want to lose big time!
Fantastic Catastrophic loss making deal Englebrecht style totally disgusting and to Fund Admin costs. Crusader is a monstrous loss making deal for Stratex shareholders who will be diluted out of existence. How much damage can Englebrecht do to Stratex ? stinks .
LOL, you're psychic quindell!!
Sell off the share in a company with a great asset for peanuts..... no doubt GRL will spike while this turd decays!
Joy ... another well timed move by Brewster and his board here.
If anyone has an account with TD Investing you have to make sure you have subscribed to receiving voting information (it's under accounts/Voting & Information mailbox). If you haven't then just contact them and tell them how you'd like to vote, so they can forward your instructions on to the registrars. Naturally, I have voted FOR all resolutions and don't see how this reverse takeover can go through.
hxxp://newstrat.co.uk Check here for all the info and presentation being put forward by major shareholders including AngloGold Ashanti and Teck - and supported by large private investors like myself. Please contact your nominee today and VOTE FOR ALL resolutions to terminate the deal and remove the management that have been responsible for the collapse in Stratex share price this year.
"Stratex board has a clear path of action if they can pull it off, and from my viewpoint they stand a good chance due their combined experiences" You do realise that of the people at Stratex and Crusader only Emma Priestly has any talent. The rest of them don;t have anything like the kind of skills required to pull off this fantasy acquisition. What is the formulated plan that the dissenters have and what is the actual time frame they have to start producing earnings? I would encourage you to get onto the shareholders website hxxp://newstrat.co.uk and look at the alternative plans which are by far more interesting and achievable than this fantasy peddled by Marcus.
ABLE - "Yes! it would mean dilution but their argument is that the dilution would be from a much higher value than what it is now due to the mine currently being in the wrong hands" Sorry but no one can understand this - dilution from a higher value? This means nothing. Your holding faces massive dilution no matter what Marcus might pretend. Perhaps you are expecting a re-rate to 3.5p a share as per Marcus propaganda - well sorry but just look at what's happened to Crusader and Stratex share prices in the last few months. The market is screaming that it HATES this deal. There won't be any re-rate, just capital raise after capital raise just like Crusader has been doing for years and years to cover the cost of its extremely expensive directors.
Agree Chaz the only sensible vote is in favour of all the resolutions. Altintepe sold cheap, Stratex undervalued in the proposed Crusader deal, Stratex directors awarding themselves at Stratex shareholders expense and propose diluting us all out of existence, madness not to vote in favour of all resolutions. Englebrecht must go.
what changed my mind was the fact that the board looked at the true value of Borborema and the value of it ascribed by the market and decided that bringing a couple of institutions on board as the present board has the experience to complete such a deal. Please can you rephrase this because it doesn't actually make sense? And if you don't mind me saying sounds like something copied out of a Stratex press release
You are entitled to your vote mate, but I am slightly ****ed off that you have voted in support of the Company on what sounds like very a ill-thought out basis, being pushed into it by someone from Stratex by the sounds of it, increasing the risk of massive dilution for existing shareholders and forcing shareholders into a hugely risky adventure in a corrupt country for the sake of lack lustre assets, meanwhile paying a huge premium for what is essentially an insolvent company at the same time as treating Stratex as a cash shell. Have you visited the New Start for Stratex website? Have you read through the recent SP Angel morning analyst notes? Have you researched the tragic history of junior European miners that tried to break into Brazil? I would urge you to call your nominee and please amend your vote in support of the resolutions. If you have any questions please contact me and I will give you clear reasons to vote the way I suggest. I would be interested to hear from you what specific reasoning you found so compelling from, presumably, Claire at Stratex, who I know has been tasked with calling retail investors to convince them to vote against the resolutions.
Quite seriously, what changed my mind was the fact that the board looked at the true value of Borborema and the value of it ascribed by the market and decided that bringing a couple of institutions on board as the present board has the experience to complete such a deal. Yes! it would mean dilution but their argument is that the dilution would be from a much higher value than what it is now due to the mine currently being in the wrong hands. In other words the Stratex board has a clear path of action if they can pull it off, and from my viewpoint they stand a good chance due their combined experiences. What is the formulated plan that the dissenters have and what is the actual time frame they have to start producing earnings? I would suggest that share holders read the company's presentation once again and should they see things the way I do then vote against the resolutions because what guarantees have they got by voting for?
You sure you're not on the Stratex Board ABLE, because what you've just explained there about the way you voted looks remarkably like the due diligence and due care process employed by Englebrecht and his merry men before each of their calamitous decisions over recent months?! Joking aside, I've only got 100k shares left in here now, but I've voted in favour. I completely understand where you're coming from, but I genuinely can't see any short to mid-term value here for shareholders and the long term incentive plan for the board was the final straw. I've no idea if the new proposed DIrectors will make a better job of it, but they surely can't do much worse - hence I'm in favour.
Sorry I should have added that I changed my vote in favour of the company.
I first contacted the broker and asked them to vote for the resolutions, I then had contact with a representative for Stratex who reminded me to re look at the Stratex rationale which I did and, then I realised that Stratex fully undestood the funding problem and while their argument is not watertight it is a much better argument than the wishy washy argument put forward by the requisitioners .
Guys - if you want to scrap this deal and get rid of Marcus you need to be getting in touch with your nominee AS SOON AS POSSIBLE. Voting is a right faff, but it's really important to get your vote in because if the deal goes ahead your holding will be so insignificant you won'y have say anymore. Get the corporate actions team of your nominee to help you vote, and then check with the registrar that your vote has been submitted correctly. Remember you to stop the deal you need to vote IN FAVOUR OF (FOR) all five of the Requisition Shareholder Resolutions.
A new presentation has been made by the 'no deal' camp, offers a 3.5p 'low risk' target price http://newstrat.co.uk/new-presentations
Thanks H5O. I had seen this and wasn't convinced we had existing assets that could become income producing in the short-mid term. That last sentence didn't fill me with confidence, but at least they are honest that dilution will be coming. Whichever way this goes I get the feeling we'll be left with a mess. No short-term upside but hopefully we're able to pull through the other end without too much hardship.
Glib this is part of the proposed move if the Crusader deal is aborted, there is a website to follow events which will hopefully be updated soon. http://newstrat.co.uk/ Proposed strategy for �New Stratex� The new strategy would be to maximise funding on projects that have the best chance of increasing value. The market is short of good early stage gold exploration companies. The most significant uplift in economic value is achieved through early resource definition and proving thereof. This approach is supported by two mining companies who are major shareholders � AngloGold Ashanti and Teck Resources. All STI�s assets will be reviewed. Focus will be on projects that appeal best to strategic partners and shareholders. The overheads/costs will be reduced and underperforming assets will be divested. The strategy must be to maximise STI�s current cash situation and not to dilute shareholders until value has been increased.
Except we own 30 percent of Thani Stratex and are supported by two of the finest mining companies Anglo and Teck who can see through the Crusader nonsense.
H5O - I'm not sold on either option right now but do we know what the plan is if we don't go with Crusader? From what I see we would be left with the same dilema when TSR decided to build a mine - mass dilution, especially without any other income. Has anything been mentioned about what is intended for Stratex's future?
In my view shareholders are left with no option, unless you want to be diluted out of sight you have to vote NO to the acquisition. Remember, Stratex share price was 2p around this time last year, the market cap was �9.5m If Englebrecht & Co get their way the market cap would need to go to �50m to get to 2p That is before even more dilution, I am expecting them to issue more stock soon after the merger, issued capital could go past 3 billion shares compared to 460m now. Voting no and joining Anglogold Ashanti & Teck Resources is the only sensible action IMO.
I agree that Stratex would not be able to fund the start of the mine without heavy dilution - even then we would struggle to raise $100m even with loans. I think the company would need a partner. For those that think ThaniStratex is a better option, they could be 5 years before they get to the stage Crusader are at. And then they would still need to build a mine costing 6 figures. With no income, Stratex's holding will be diluted before that stage is reached and we may struggle to hold any relevance or attain meaningful income from them.