RE: Producer9 Nov 2015 10:25
Nice how anytime we see some positivity on this board Kulabkhan pops up to vent his bitterness. I feel sorry for you if you are sitting on a loss if you bought a few years ago when gold was sky high but really trashing the company with misconstrued statements in bulletin boards isn't really added anything informative.
You say relatively small income, this is a firm going from zero revenue to £2m per annum, that is a big deal for any small cap company. BOD may not have much respect on these boards for all their business decisions but they are still around after years of a very hostile market while many others have gone to the wall. I have already reviewed their salaries in past statements and while I agree that I'd like to see few directors and a reduction in costs overall, their remuneration individually is not very high.
Your posts highlight that you fail to understand the inherent risks of investing in an exploration company and you'd be better investing in something like toilet roll where you can be nice and safe with a regular income. Fact is Stratex is now a hybrid producer/explore with no debt and a string of existing projects, significantly reducing "explorer risk" - it is a decent model in the current climate.
Finally on acquisition, my impression is that the BOD is thinking medium term here, I can't see anything happening on this front within 24 - 36 months unless it is immediately accretive. I would very much like to see movement on existing projects first now that demand on STI resources for Altintepe will drop off and some cash flow comes in to facilitate progress elsewhere in the portfolio. STI is well aware of criticism that it is stretched enough on it existing projects and needs more focus. I would like to see them focus on Turkey and West Africa while selling off assets in East Africa, retaining a stake if benefical.