Ann: Proposed Acquisition of Crusader, page-18

Based in London so know a little about rational behind the deal. Stratex has recently had a management overhaul, sold it's Turkish mine stake for US$8m net of tax and has a new stated aim of wanting to be a 100k oz year gold producer.

I think it is a great deal for both companies, Stratex has some cash but most importantly it seems the new CEO has access to London Capital Markets and talks about debt financing to develop Crusaders gold assets.

Stratex shareholders have suffered years of frustration, not through dilution but by the lack of ability of the former ageing BOD to deliver shareholder value despite having plenty of cash at their disposal.

One very positive aspect of the Stratex portfolio is their 30% stake in Thani-Stratex, the aim is TS will IPO in Q4 17, they are hoping to attain a market cap of $25m but they are also aiming for a 3m oz gold resource, recent drilling results have been exceptional.

http://thanistratex.com/_resources/corporate-presentation.pdf

I think the combined group will deliver excellent shareholder value over time, with a market cap of £25m+ it should mean London based institutional investors will buy the stock.