Yes Kev.....I agree. It was a very difficult day on the markets but Aminex showed great support. We have so much news coming our way and I feel the traders don't want to bet against that. We also appear to have been given lots of hints toward the positive nature of upcoming news I.e We are drilling 2 wells in Ruvuma, which also suggests our funding is likely arriving soon. We have a possible oil play, which is more than possible as they've already drawn the lead on the presentation. Our reserves have been upgraded and there's likely to be more from Namisange and there was talk of a new lead at Nyuni when Jay was interviewed a while back. The pipeline has been completed according to the contractor and had great welding performance. Our well I'm Egypt was spudding imminently........... Of course some of this newsflow could end up being negative but if you were a betting man it would be brave man to go against these hints. Yes, we have to wait for the RNS before we count our chickens but so far all looking very promising.
Looking around the markets today it has to be said that Aex did quite well by breaking even. Msmn down 7+%, Ptr down 1.23%, Rose down over 4%, poor ole Kea down a huge 5+% ( given it was thought it couldn't go any lower, and so on. Even Eland who announced a quite impressive CPR had dropped over 2% after the RNS. Even though, like Aex's CPR, Eland's CPR was widely expected to be impressive and was, they still dropped (I haven't looked at their sp since this morning but would expect a recovery of some sorts).
The IMF's expressed concern about the global economy and negative US data is what caused the worldwide drops today. Breaking even on the back of no company news today augurs very well for Aex.
grgmtg - Yes, I was told it was being sold to a company from out east. Agree with your points but when we get bought out I expect it will be a larger fish. Still on the horizon though as we have a few things to prove yet. Another 6 months and Aminex will be unrecognisable !
TIPTOP that article regarding Orca and NSSF is full of holes. Makes little to no sense and is poorly written.
Orca made no mention of it in it's Q2 report.
Orca currently has about $70Million in cash no debt and is still owed some $50Million from Tanesco + several million $ from Songas who in turn is also owed money from Tanesco. Point being is that Tanesco might buy the gas but paying for it they may not. Not quite sure hoe they came up with PAE having $81Million in assets.
I believe Orca's gas generates over 50% of the power in Tanzania. And yet they are still miss treated. Tanzania needs more money which hopefully will come by the World Bank and others. SOON.
Prior to the increase in AEX I really hoped that Orca would make a bid for AEX as I liked it's assets and the Market Cap was completely undervalued but that didn't happen.
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