The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Wow, things are really moving in Tanzania!
You betcha.. Sp upward please...
No leaks on that ship
Very good news! And yes BG, even sooner than I could have hoped. Pity that we didn't get the long proclaimed $3m but there was always likely to be some element of horse trading and hey its a lot better than it could have been.
Now let's see if those predictions of dramatic sp rises are true? Who was it that said 1.5p?
1p finish today !!
That'll do nicely!
Much needed money. Great news :)
Great news onwards and up
Guess that clears a major hurdle for SCIR to sell both Kiliwani and Ruvuma as they say they intend to do....
Last remaining risk of keep the lights on dilution gone. IMHO.
expect this share to be one of the hottest come 2022!!!
You Edgar think $1.8m will keep us going until 2024/5? Even without spending money on Kiliwani?
There will be a dilution of some form between now and 2024 whether it be for explicitly for "keeping the lights on" or for remediating Kiliwani may be difficult to distinguish - a convenient "fudge" perhaps.
Anyway back to driving now - after a good piece of Friday afternoon news. ;0)
Up next 3D seismic.
You have to remember Aminex has cut G&A costs by 75%, so are very lean. $1.85m is more than enough for them to be funded until drilling Chikumbi. They still can take the loan from ARA of $1.7m. They had $490k in cash end of June. So have available cash of approx $4m.
They didn't include the gas receivables in the going concern. Definitely a a boost.
2.7m buy
You need to check the last FY results PoC, they are anticipating spending just below £1m per annum. There is no guarantee that they will now use the remaining loan facility and even if they do they will be pushed to make $4m last until production. And that presupposes that they do not spend any money on Kiliwani remediation.
"Kiliwani remediation."
i wonder ?
Crusty, They only need cash ?to last until drilling starts next year. By your own admission, the sp by then will be up. Makes for any fundraise a lot easier, if they even needed to.
Who's to say a farmout of Nyuni 4Tcf of gas is not next. All seems to be happening in Tanzania with gas. Majors are moving in spending $30B for the LNG projects. Aminex in a hot place. Gas soaring. Perfect storm for a turnaround.
They received another $330k as post balance sheet event PoC
Ufufuo, thanks for reminding. Even better. Don't tell stale and crusty. ;0)
You are right, of course, PoC I do believe the sp will be up after the drill but my comment was in response to edgar's view that AEX will not have a dilution. I simply disagree, I am not commenting on the timing. Yes, if they are to have one have it makes a lot of sense to have it after the drill when it will have minimal impact - but my view remains, we will be having one before "production".
The only way to avoid it is if we can kick start an income from Kiliwani - which is of course a possibility but not without spending money or a "dilution" via a JV.
Anyway I must dash so, finally, bye bye until Monday!