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Good point.

May I suggest that you take a look at the Muratdere fs and then check the low IRR for the project and then consider todays vastly depressed metals markets and then consider why after almost 10 months of being in talks to monetise Muratdere a deal still hasn't been done. Muratdere is a basket case and our partners know that all they have to do is sit tight offer nothing and wait for us to throw in the towel while the project is mothballed eventually leading to us signing off an agreement diluting our stake to a 1% nsr. We do have a great prospect in Altintepe especially when we reach 45% share of profits and with Extension Ridge and Kayatepe to add to the overall recoverable resource but as far as Muratdere goes, it's a dud

did you mean 'pour rns' or should that have been 'poor rns' given that they indicated that whatever revenues were derived would be flushed away in West Africa in the same manner investment at Tembo, Silvrex, Aforo and BG Minerals.

http://www.stratexinternational.com/public/site/filemanager/Stratex_Mines%20and%20Money%20Presentation_December%202015_A5_final.pdf

You make a valid point on the nsr and I spoke to the company 2 weeks ago and it was pointed out to me that the nsr is 'capped' at $20million but that by no means guarantees it will reach that point due to numerous variables. I was then told that because of that options regarding the nsr were being considered to see if an early sale of the nsr could be used more efficiently in the short term to progress elsewhere.

You are spot on in your assessment, the fact we announce production with the caveat that we can't get it and Oksut nsr spent quickly enough did create a bit of a pong. The deal being spoken of to buy the rest of GRL and put the 100,000ozs surface oxide into production immediately would be hugely beneficial as long as they pay peanuts for the rest of GRL which is as good as skint, and they keep extraction and off-site processing costs low. That would make a mockery of the current sp in my view.

November 2nd Stratex closing sp 2.2p, November 24th closing sp 1.32p I think the market has spoken on our 20% share in next 3 years production at Altintepe.

Why not ring up the company and ask exactly what their share of the revenue will be for the next 3 years, or even do some research and check back through the rns of the last 2 years. Obviously you won't do that because it's not worth it for your pitifully small investment here so instead you will keep pedalling fiction until the point that Stratex release their next rns stating how much they got for their percentage of the gold which will equate to 20% less taxes owed. If you truly believe that Stratex will receive 45% of revenues from the producing mine at Altintepe this year, next year or the year after you are truly delusional.

It's ok saying that anyone who points out that Stratex and management have failings are stale bulls, but stale bulls are stale bulls because they know the history of the company and have a lot of experience of the company to draw upon. I disagree with a lot that Kulabkhan has to say but when facts are put in front of you and you simply dismiss it as a stale bull ****ging the company off you are simply putting your head in the sand. The fact is at this moment in time and for the next 3 years of production we have a 20% share in a producing gold mine and to state that we have 45% is clearly ramping in the extreme and a downright lie. Besides, considering there are so many investors on here who think everything in the Stratex garden is rosy I see no evidence in your faith in the business by way of significant investment in the shares. If you genuinely believe the company is set for success have the courage of your convictions and invest accordingly, if not stop decrying anyone with a contrary view as a stale bull.

is that since we have started production the board have come out and stated that they are actively looking to spend any funds we have and probably more besides on buying into another failing/stalled mining explo company in West Africa. The company should now be enjoying seeing a constant revenue stream and building the coffers so that they might return money to shareholders at some point in the future. Instead they have said they are in advanced talks on a deal and also mentioned that the nsr sale is a distinct possibility. Selling off the family jewels in the current climate is not necessarily advisable but the board and itchy feet go together like salt and vinegar.

There seems to be a lot of frustration with the ThaniStratex news blackout across the various bulletin boards, I have been told that the company are working on projects and updates will follow but ThaniStratex are not a listed company and have no obligation to release news. This is totally unacceptable as we as shareholders in Stratex have a vested interest. I have sent messages to ThaniStratex via their website and received no reply's, I have been told in a recent conversation with Stratex management that websites take some time to develop, which is tosh as the TS website has been up and vacuous for many, many months now. I suggest that everyone does as I have done this morning and start to bombard the site with questions (www.thanistratex.com), they need to be held responsible for our invested projects and $1 million dollar investment. I am told David will be around at M&M but TS will not have a presence at the conference, i.e. no booth

I completely agree with you on that kula, they are just pie in the sky and bear no relation to the reality of the here and now company value. These reports are generally paid for by the companies in question and so the broker has a vested interest in over egging the value.

will likely be diluted down to an nsr of 1.5% in my view due to the poor economics even when the fs was done. We now find ourselves in distinctly poorer commodity markets so I can't see why on earth Lodos would give us anything for our share when they know we won't have the funds to further development at Muratdere which has seemingly been mothballed now until commodity prices recover significantly. I would have said nsr sale value at Oksut realistically is more likely to be $5-6 million than £5 million, I can't see why Centerra would gift us almost half the value (£5million) upfront when if they made us wait for the full nsr payout we would be looking at 8 years in all probability.

I've been in STI for more than 6 years now. The management have consistently made poor and self-indulgent decisions and have little respect for their shareholders as can be seen by the distribution of cash proceeds from the Oksut sale circa 3 years ago. However Altintepe will produce gold very shortly and is run by our Turkish partner Bahar and so management can't ruin this and proceeds will come in on a regular basis and so management can't waste it all in short time. Muratdere will likely be sold soon and the Oksut nsr is in the background worth $20million. So I would say that the company is significantly undervalued and will rerate in the coming months but in my opinion the only way to ever make a profit from Stratex is sell when the price rises as the company will likely never return cash to shareholders. NAI

They have nothing to say at the presentation and that's why they've put out this pointless rns which in effect says first gold pour has been delayed again but will be underway in 3 weeks. Other than that they have nothing to say at their presentation as the company have not moved a single project forward this year. Admin costs are unwarranted for the lack of activity this year and hence they're doing a presentation just to show they're doing something.

Not likely to run out of steam in the short to medium term as they have started eating into ASOS online business and the growth in Home is likely to mushroom in the coming years. I believe this was aluded to in the chairmans statement and growth forecasts for this year. Let's not for get it's seen off the discount retailers challenge and now passed M&S and remember M&S Food makes up their results too. Simon Wolfson is a genius retailer and as long as he's at the helm Next will sweep aside all before them.

Next have a thriving online business as demonstrated by there continual growth figures from the Directory. They are growing the directory business now in Europe and there opportunity for growth is exponential as demonstrated by ASOS whose market share they are attacking. Next Home is also now becoming established and there stand alone stores and online sales here are growing admirably also. Next have performed magnificently under Wolfson during the last few very challenging years, seeing off the threat not only from traditional competitors like M&S and Debenhams but also from the likes of low-cost clothing retailers Peacocks, New Look and Tk Maxx etc. Having performed so well under challenging recessionary times the prospects for Next going forward are massive for a goliath of the high street and internet

Next: HSBC increases target price from 4100p to 4965p upgrading to overweight.

Hope you had time to get in on my tip last week, taken off today. Sorry off-topic

The man from the Pru and M&G loving a bit of TXR at the moment. Corbine - I know you and I are both long time holders here and at HER so I've another three letter gem that might interest you - STI - no advice intended as I know full well you'll research it thoroughly yourself. GL all