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£20k may appear to be a big single buy but not all pi's get offered that amount of shares in one go so you'll probably find that some of today's trades will be several buys from a single pi adding to over £20k.
A couple of weeks ago I moved some money around and bought over 3 million in 2 days (about 6 trades). I actually got a better quote buying in 500k tranches than 1m tranches.
I've explained why £20k is a big buy for AEX. I've watched the trades for years, I know what big and small are in terms of AEX trades and £20k worth is big. There are bigger but as I said, the vast majority are usually much smaller, that is what makes it big. The tiny amount of bigger buys do not make it small, there's not enough of them to do that.
Winalot,
They got placings after that.
It says 28.35% which is 1,102,898,871 shares.
No worries Fowler I wasn't trying to imply you were. I just found it a strange thing to say, but perhaps my last reply will explain why I feel that way :)
I disagree Fowler £20k in any one share is a hell of a gamble for an average earner, but to make a single purchase that size would indicate an out and out gambler or someone with significant wealth above average earnings to me.
What I have, has been built up over the years and worth much more buy if I withdrew it all now, I certainly wouldn't throw it all into one buy no matter how good the prospect.
As an average earning Joe in my career, I perhaps just come from a different place than you. Takes all sorts I suppose.
PS Haggis and RogerJolly nobody will be happier than me if and when the buyers really move in, so I'm not trying to bash the stock, just keeping feet on the ground
Winalot,
I thought that I recognised the name but hadn't got round to checking, so thanks for saving me some time ;)
So Eclipse are not even an ii they are just an investment vehicle for the Zubair family. So as I said, no ii's anywhere near AEX and unlikely to be until gas is flowing and profits are visible, at which time the risk level plummets to where their internal policies allow them to invest.
1.3bn shares out of the market is handy.
I'm just making point that one x £20k buy is nothing remarkable and not sure of relevance of this in context of what people earn? Seems like an irrelevant comparison to me, when you start looking at what institutional investors purchase day in day out on market and I just don't see the relevance of one £20k buy. And no I'm not in posh shoes mob! I work very hard, pay my taxes and just trying to be measured. I've been involved in shares when they've exploded upwards (Xcite went up 1,400% for me only for it to fall back and go under, although I did get my core investment out thankfully, any of you remember London Pacific?) and I don't see any correlation in trading volumes yet! I can't get excited anymore by hype and it actually irritates me because it discourages and distorts genuine debate.
I'm a LTH and my patience has been tested to the limit with Aminex, but if you invest in exploratory companies in Africa you have to do with your eyes wide open!
Correction. They hold just under a billion shares.
"The company is intending to issue around 1.5bn shares at 1.3p, of which some 983mln will be placed to a cornerstone investor, Eclipse Investments, which is part of the Zubair Corporation."
Haggis,
Eclipse is part of the Zubairs. They hold 1.3 billion AEX shares for the Zubairs, essentially ARA. So not only do ARA have 75% of the Ruvuma licence (soon) they also own 25% of aminex which puts them in a good position to takeover AEX if the story turns out good and others come sniffing.
https://www.proactiveinvestors.co.uk/companies/news/128009/aminex-welcomes-oman-s-zubair-corporation-as-a-cornerstone-investor-128009.html
You really are over exaggerating what it will take to move the AEX share price there.
The spike from less than 1.96p to 7.69p (292% up) in January 2017 had nothing to do with ii's buying billions of shares. ii's were nowhere near AEX as the risk was far too high for the vast majority of them.
The only current declared big investor is Eclipse Investments LLC with 28.35%. And they likely just got that from a big placing, not from buying in the market, that's not really what ii's do with high risk small caps, if they even touch them.
"Eclipse Investments, LLC is a privately held company composed of corporate and investment professionals actively trading and investing in markets around the world. The company is headquartered in Las Vegas, Nevada however has satellite offices in the Northwest region of the United States."
It only has 10 employees. Hardly a big player.
PI's can easily push up the price of this stock considerably, just as they did in 2017 and just as they did today 8.5%. If it keeps going at that rate for 7 days ant it will be up 100% on the opening price today.
And these types of PI backed rises will pop up repeatedly through to first gas in October, each time with the potential to add 50% to 100% to the price over several days. So it does not need ii's to buy billions of shares to make a meaningful share price difference, and if people wait for ii's to turn up they will miss a large amount of upside.
just on the languishing of the share price ONE element is it'll take INSTITUTIONAL investors to really skyrocket this stock as they have the financial firepower to not buy 20 MIL shares but 20 BILLION if it existed.
and they aint gonna do that cause theyre constrained by LAW on how they act. ill give you an example. during the financial crisis the mexican gov took 10 BILLION outta irish life and permanent. why? cause the share price went below a set level. no other reason, they just HAD to once that happpend. it probably cost em a fortune but thats the way things are.
right now we all KNOW how good an investment is , but these lads cant do JIP till they meet the standards set down for them by either governements or charters.
once AEX can say whats there and what were getting outta the ground and how much its worth - INDISPUTABLY- theyll be in like flint. till then its OUR time to take a punt.
ive got my 2c in here and im happy to wait till all those boxes are checked for the herd to arrive. and hey that could be next year considering our track record with meeting deadliines. but i DO think itll happen relatively soon
Just remember despite sitting on millions the big boys in certain circumstance dont have the freedom we have as individual investors.
Which in turn probably means the obvious - that more people are buying on the hope of progress and a higher sp.
Atb,
Northern
Looking further into it:
Trade volumes on AEX without news, the average is about 3m shares traded per day.
On the news of 02/02/2023 Strategy/Company/Ops update the volume hit 15m, next day 10m, next day 18m. On Bed and ISA day volume hit 14m but much of this was moving stock from trading account to ISA.
Today we hit over 20m on no news, 5m more than the day we got an RNS with a full update.
That has to be seen as an indication of money now moving into the stock ahead of all the expected news.
AGM Presentation - slide 11 - 8.236TCF at Ruvuma, and as per the footnote it "excludes deeper Jurassic potential".
http://admin.aminex-plc.com/uploadfiles/2022%20AGM%20Presentation.pdf
Fowler you made me laugh as you are a lucky man if you think £20k is not a big buy. You obviously are in the posh shoes mob.
There are some 2million people in the UK only just earning that per year before taxes and average for 40+ before tax is £36k before tax. I would suggest for the vast majority that would be considered a very big buy and you are either winding up Haghis or having a perverted attempt to belittle its value. :D
Sorry, I just have to laugh at that suggestion.
£20k in one trade is a big buy. Obviously some make bigger buys but way way more make much smaller trades.
The fact we got much bigger volume does not mean that today's 20m should be ignored. It's the highest volume since mid December, along with the price rise it signals that the bulls are interested in AEX again. It doesn't need to be 100m or 200m for investors to understand that investment is already starting to move into the stock, well ahead of reserves and production, because the smart money gets in early, not after the party has happened and everyone is already on their way out the door.
Nothing significant really Haggis - I've made bigger purchases than this and don't view myself as a particularly large holder, volume still nothing to write home about, posters are making comparisons with a period of low volumes and activity (most of the last five years!).
Volumes today will be dwarfed multi times when it genuinely gets going and I agree with earlier poster that this won't happen until we get official reserves confirmed, then actual revenue streams starting to come through.
I'm hoping that will be by year end, but not counting on it!
Maybe the pipeline could be Tanzania's version of smart motorways.
The money was committed, and now they've been abandoned.
Hardnose, mine wasn't an answer, it was actually a question ! I strongly believe if all of the authorities involved are committing a considerable sum of money to such a project as a pipeline, they would not be doing that if they had no evidence of sufficient gas to justify the expenditure. Simple.
Reserves, cash, revenue, lack of trust in management, poor communication...
You're wrong hardnose.
I am perfectly capable of impartiality.
You're confusing my countering the hopeless optimism of the jam tomorrow brigade with negativity.
Someone showing confidence with this buy, which is over the advertised ASK at any time today.
11:46:51
1.33
1,488,341
£19.79k
Thanks Bullfrog
This is the latest CPR release I can find
http://admin.aminex-plc.com/uploadfiles/Results%20of%20Competent%20Persons%20Report.pdf