Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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People should never trust the red and blue or the shown spread John. The real spread appeared to be 1.20 - 1.225 as you have shown.
Crusty the sell of 117371 at 1.22 was me buying a few to topup so the MM's are at it again.
Did you not realise the cost of 3D seismic over such a large area?
I am pleasantly surprised that over a period of four years, all that work and analysis has only cost Aminex just over $5
Imagine if they had gone it alone, that bill would have been over $20m
The benefits of having a good supportive partner has showed through in more than one way.
With enough non dilutive loan facility to cover current operating costs through to the end of 2026 to be drawn down only if required, it is a useful sensible back up to have in place.
As they stated with the farm out originally and restated this morning, there will be no need to call on pi shareholders for capital raising through to cash flow being generated.
There is therefore no potential raise hanging over this company. All positive in my view
Eclipse owns Ara Petroleum and just under 30% of Aminex.
So it is our Major, the operator of our field and our major investor giving a sub on preferential terms. More support. If evidence were needed of the continued intention to keep Aminex in existence, as opposed to taking us out, this is more of it.
Preferential because there is no repayment. The loan is set off against the farmout.
All good with me. Removes a doubt for the numpties out there.
Also all good with me is how much of our farmout carry is left. Future looks bright.
Interesting to note that work to date has already used up $5.4m of our cost carry. The Eclipse loan is expensive though is perhaps to be expected given the risks that cash flow could get delayed beyond mid 2025. At least dilution via a share issue has been avoided at this point.
Https://www.newvision.co.ug/category/news/uganda-tanzania-officials-discuss-energy-mini-NV_186856
Eh? What??
Rojo, I do tend to agree , just for once .
Key this week, a rebutall from Prosciutto if any on Wednesday.....
Try not to get too excited boys and girls - I don't think this is wonderful news.
No surprise if the SP slips back...
Seems to be quite a few sellers at 1.20 and just above - not sure this price will hold. Hope we see some buying.... really need that Dev License. Not long to wait though in my opinion - this week or next methinks. :0)
Hold the fort one and all , I am off to London for the day; some of us have work to do!
#homies...
And his homes..
I would miss the cheery little soul
1.325p paid.
Who knows our chum Rojo might not be with us for much longer :-(
Currently being quoted at 1.20 1.35p. So despite the hit to the balance sheet from increased debt the market seems to have taken this as a broadly positive RNS. It does at least provide official conformation of many the things we had been "assuming" from the recent Tanzanian PR campaign.
Shame Crusty, I would have liked to have seen it, but that is seemingly restating what had been said previously.
Need to check the dates but yes I hope to be there.
All good stuff. Licence in the post. Funding agreed to keep us ticking over so we don't get immediately battered back down on placing concerns. It's almost like the company want the share price to rise...
Well not the rns we wanted but at least we know we're covered till 2025 now and can assume that's the new time frame for gas production.
So another year
Morning RJ, so on the basis that you "only read what you see", I assume te idea of ARA buying their own rig is now not a likely prospect?
Outlook:
o Contract a rig operator to undertake the drilling of the Chikumbi-1 appraisal well and, if successful, to complete the well as a gas producer.
Not long to wait to ask any outstanding questions: I take it all that you will be interested enough to attend? ;0)
Annual General Meeting will be held at 10.30 am on 27 June 2024.
Oh and haggismctripe, yes, thank you we have already read and understood that too often reposted paragraph, we d not need you to post yet another time..... good grief.
Bloody hell SC have you turned into a deramper 🙄
As I kept saying:
"Applied for a 25-year Development Licence based on the approved FDP. Approved by the Tanzanian authorities, including Cabinet sign-off, and awaiting issuance of the signed licence from the Ministry of Energy."
Signed of by the cabinet is confirmation of the energy ministers speech last week. Now just a formality imo
I like this: We expect a Development Licence will be issued by the Ministry of Energy very soon
Key this week, a rubutall from Prosciutto if any on Wednesday.....