News

March 03, 2008

Taking Profits On Stratex Marks Another Success For RAB Capital … Or Does It?

By Alastair Ford

What a couple of weeks it’s been for Bob Foster and his team at Stratex. Not only has the company issued some very attractive updates on its gold properties in Turkey, but there’s also been significant comings and goings on the share register. RAB Capital has now dropped off the disclosable radar, having taken its holding under three per cent, while the big buyer in the market is Kairos Investment Management, a Swiss-based fund with offices in Cornhill.

In the second week of February RAB sold 18 million shares and now holds just under two per cent of the company. What a comparison that makes to the 38 per cent that RAB retained when the company listed in the spring of 2006 at 5p. Fair enough the shares haven’t looked back since then, and although they’re some way off the high of nearly 12p they reached in the spring of last year, they’re still trading at a healthy enough premium at the current 9p. Mind you, although everyone’s too delicate to...