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yep can't disagree with that Crusty, have a good weekend all.
Surely the nomad should have forced an RNS if the long stop date wasn’t going to be achieved, all the other extensions have been around a week before the due date?
Ho hum it is all rather incidental in my view. Ultimately the Farm-Out happens or it doesn't and if it doesn't then AEX are sunk anyway. If it does then so what, we owe them $1, $2 or $3 million and they owe us $35million in credit. It will all end up being washed through the books. I wouldn't imagine APT are too bothered if we are paying interest the period. We will simply end up only receiving $32?m of credit with an "interest owed" adjustment.....
The bigger tragedy is that we ended up wasting the bloody advance on unforeseen expenses that we should never have been paying; CGT and alike.... what a bloody ripoff - extortion or what?
sorry at work at the mo,
The last sentence says it all? yes that was for the advance 7-8 months ago and is to be converted to an interest-bearing secured loan.
the 2.2 million to pay CGT in the A/R doesn't look like it will be, ?? though i haven't had time to look further
Not sure what you mean BG? The last sentence says it all?
i don't think that is quite right mat, this from AR and it seems strange but the payment ARA doesn't look like it will be converted to an interest-bearing secured loan ?
". ARA has agreed in principle to provide a further advance of US$2 million to Aminex to enable the Group to pay the monies due to the TRA, which will be repaid to ARA from the consideration due on completion of the Farm-Out."
the advance, is the part of the money which will be due on F/O completion.
https://uk.advfn.com/stock-market/london/aminex-AEX/share-news/Aminex-PLC-Ruvuma-Farm-Out-Update-Acceleration-o/80784876
" If Completion has not occurred by 30 June 2020, the Advance will convert to an interest-bearing secured loan, repayable by 30 June 2021"
Thanks Mat - much appreciated. Hopefully it won't be for too long.
$2.2m and no details of interest or repayment plans have been given. Only that it needs to be paid within a year.
Does anyone know what the interest rate will be and how much was the advance for? I'm sure it was probably RNS'd but maybe someone might have it off the top of their head.
Price is ready for moving up now just need a buy or two !!
last AGM, 12 June 2019
don't know if this is right, just Googled "It’s also important to note that 15 months shouldn’t elapse between AGMs."
Aren't there rules about agms and their timing?
plus, still no date for AGM ?
You have to think does this government really want this farm out to go through because their actions do not show it. People cannot say this how things happen in Africa because next door in Mozambique things are moving much faster and more efficiently.
well, if that is the case, it would be a crying shame, but ui would then not be surprised if we didn't get a low ball offer from the Zubair's ? about 1.5p, being the highest the share price has been in the last year ??
BG, that very much looks like what will happen, more dept through no fault of AEX, Tanz govt really are a pile of poo!
what's more is they owe us money!!!!!!
the thing is fjones, " If Completion has not occurred by 30 June 2020, the Advance will convert to an interest-bearing secured loan, repayable by 30 June 2021"
when you ring them (James) he basically says it a matter of time when the Farm-out will be signed rather than IF, I can`t see it being done by (Monday) personally but you never know really !!!
Just ring them.
who did you send it to Aminex or Camarco ?
To anyone who emails them.i haven’t had one reply and trust me I’ve sent a load.