Member Info for kulabkhan

PFL you repeatedly claim that administration costs and excessive BOD costs have been 'slashed' repeat 'slashed' as evidence you say look at recent presentations, which you unfortunately believe explicitly and never question. In fact and you should go by the facts, the last interim results to 30 June showed admin eyewateringly high £1.143 million or $1.71 million for the LAST SIX MONTHS when prices were supposedly cut. In fact all the directors of Stratex main board, Stratex West Africa, GRL, Tembo, East Africa are sat there along with all their managers and admin staff, no doubt applauding you for your support at shareholders expense bleeding nearly £200 grand a month every month out of the company that is what you call 'slashed' yep slashed away mate.

Sprott/Exploration Capital Partners specialises in the resource sector.

Exploration Capital Partners (Sprott) do their research and investigations and buy and sell accordingly. They chose to sell not part but their entire holding in Stratex. This was not a distressed sale but a judgement. They have also chosen to make investments and add to their investments in other resource companies and sell others and continue to make such decisions on a regular basis.

Umm are you saying Exploration Capital Partners (Sprott) are distressed sellers of Stratex ? Hardly.

"Look at the number of shares here, " Well Stratex has 467 million shares And Centerra Gold 237 million shares ! Stratex sp lost 59 percent in the past 12 months Centerra share price gained 37 percent What was your point ?!

'A 45% stake in a low cost gold mine' But only 20% income until 2019 ? 'And will generate circa 35,000 oz per annum' Many variables and it will take time to ramp up. But what if unknown outcome of Court Case restricts or constricts the mining areas ? 'They retain a $20m net smelter royalty' Currently Stratex would be lucky to get $11m spread thinly forward 2017/18 onwards over the life of the mine ? Forward selling heavily discounted. But what if gold falls below $1000. ? Will excessive Admin/Directors costs be covered 2016 onwards ? 'They have Muratdere which must have some value' With dismal copper market je ne sais pas. The rest very uncertain. What is known is that Stratex has excessive admin costs andwe have a Stratex Board whohave a record of value destruction for shareholders who have had nil return I guess this is a 'bad' post .

Problem is pfl just accepting the propaganda and not doing the research or acknowledging other poster's research. The tadchek post you describe as 'good' because it lists the official line without question. But questioning is essential in making sound investment decisions. No? We can all read the official blurb whilst the sp and market cap grind down. It may ensnare the gullible but not the Pi who questions and seeks answers.

Where is the EIA Court Case news ? It was due a couple of weeks ago. Should be favourable imv but the longer the delay the more worrisome it becomes particularly regarding any conditions or restrictions set to appease Locals. ?

GRL owned 65pct and had an agreement in place for 90 pct in 2009 and did not advance this 'cheap easy quick development' for themselves.

Sorry Punk with such a good, quick, easy and cheap development ???? Is it ? GRL could have done it themselves some time ago without problem but chose not to go down this quick easy cash route because there was insufficient evidence that it was quick or easy. After all easy cash would have attracted easy credit. It wasn't and it didn't. Now having spent all remaining cash we get loud trumpet blowing !

Obviously no one knows more about GRL licences than GRL itself ! MTR uses company information and makes a variety of investments the one in GRL is small. To me it is odd to say the least that GRL chose not to develop this easy option themselves ! Odd too that Stratex did not keep stum to acquire cheaply such an easy option as has been trumpeted as a possibility ! GRL are virtually out of cash now.

If it is so good, quick, easy and cheap ? Why on earth didn't GRL do it themselves ? Probably because it isn't ?

Spring 2013 after directors' bonuses Stratex had : £ 17 million ( $ 25.5 million) in the Bank. 30 June 2015 Stratex only had : £ 2.5 million ($ 3.75 million ) in the Bank. A huge cash burn for a small cap the size of Stratex. At 30 June Interims Stratex had "reduced costs" but was still burning cash at an unsustainable rate : Stratex Total Losses for 6 months 30 June £ 1.99 million ($ 3 million) of which £1,143 million ($ 1.71 million) were Administration/Heavyweight Directors costs in 6 months. Now look briefly at GRL 6 months to 30 June 2015 : Cash in the Bank $0.75 million Losses $0,81 million in 6 months. The company is teetering on the brink. Meantime Stratex needs finance for all its other projects. Muratdere if ever developed, Thani/Stratex and all the odds and sods. Meantime at best, all being well, Altintepe will yield 20% in the near/medium term, a pittance when you look at the facts. Stratex is a cash black hole imv

If they sell Oksut ? Despite Oksut being worth a lot less than many here hope, for the reasons stated earlier. It costs nothing and has Centerra's expertise to see it through. It has a high degree of certainty. It would indeed be 'amazing' if GRL could be developed with any certainty and in all events it would surely take much longer than 6 months, if at all. It has a high degree of uncertainty.

Probably the kettle in Stratex boardroom for yet another nice cup of tea. Between the 5 expensive directors 4 senior managers and the sub boards from East and West Africa. Pass us a scone chaps. Major interest equals 3.7 pct of tiny market cap GRL.

No answer to my query about OKSUT NSR at 1 percent to Stratex capped at $20 million, everyone assumes that should mining commence that $20 million will be paid. This depends on the price of gold and the quantity produced over the life of the mine. The feasibility study suggests that under a million ounces will be produced, this may change. But assuming a million ounces production at say a gold price of $1100 we have $1.1 billion revenue. Would this result in only $11million NSR 1 percent pay out ? I bow to correction from the learned here ? The value on any forward sale would be much reduced if this was so.

Ah yes that will be the same McKinsey who wrote a 44 page report concluding that metal prices will rise as from 2013. Since Lodos acquired Muratdere copper has halved in price interesting that you view this will have no Impact on their valuation of Muratdere copper project

Oksut NSR one percent up to $20 million Costs nothing. Centerra. Couple of questions for the learned here : 1 why flog it off for uncertainty in West Africa ? 2 Could the NSR at 1 percent deliver less than $20m over the life of the mine ?

Yeah yeah whatever 45 pct ownership =. 20 pct INCOME until Bahar is repaid in full Common sense should tell you that INCOME is a key criteria of ownership and in Stratex case INCOME as a 'producer' short of money is what matters.

Non Fact Stratex gets 20pct until Bahar recover all their costs. IJIT