Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Sorry Northern I see where you get it from, but I still didn't see it that way. I think that was written for our benefit to prevent more panic tbh.
It possibly was used as a lever, but from what I know there is no way either would have walked away. The find is too big.
Time for an apology Rojo.
Thanks so much blackgold00,
There you go Roger Jolly- this is what I was referring too. Not my imagination at all!!
Atb,
Northern
Referring to the wording of this and last extension I do believe
Ruvuma Farm-Out Update and Additional Funding
30 September 2020
"Aminex announces that the parties to the Ruvuma Agreement have, at Aminex's request, agreed to extend the long stop date for satisfaction of the remaining conditions to the Farm-Out from 30 September 2020 to 15 October 2020. "
"Aminex remains hopeful that Tanzanian Government approval of the Farm-Out and transfer of operatorship will be obtained by 15 October 2020. The Company notes that this is the ninth extension to the long stop date and has been advised by ARA Petroleum Tanzania Limited ("APT") that the long stop date will not be extended again. Consequently, if such Government approval is not obtained by 15 October 2020, APT will have the right to terminate the Farm-Out Agreement."
Northen is that how your imagination works?
"Thinking back some time the Tanzanian government nearly didn't sign off on the Amines and Ara joint venture and Ara might have walked away which forced the government to sign."
Where on earth did you read that? Perhaps from one of the bashers ramblings at the time 😜
MrMoi I think you are dreaming. Been here twi minutes and understanding RoJo. 😂😂🤣 There are people here seven years don't understand his purpose.
Not that I am team Rojo… he obviously cares a lot about the stock. It’s much easier to stomach disappointment if you actively push for it. If the stock goes up he’ll be happy if it goes down he will be proved right and avoid crippling disappointment. All quite obvious so let us move on. If you think he’s a troll, well, don’t feed him. Let’s try and keep this well informed board on track please.
What I find logically very hard to understand is why it is said that the Tanzanian government are so eager to encourage foreign investment when they drag their feet on these major issues before signing off.
Thinking back some time the Tanzanian government nearly didn't sign off on the Amines and Ara joint venture and Ara might have walked away which forced the government to sign.
It just doesn't make sense to me the disparity between what the Tanzanian government say and what they do. Must drive Ara mad when they are trying to plan drilling.
Anyway - rant over - hopefully we get those upgraded reserve figures soon!
Atb,
Northern
I think ARA are bringing in long lead items and making positive noises to demonstrate that they are doing their bit in the hope the Government will be encouraged to do their bit and sign the outstanding documents. ARA can say to the Government they can’t proceed any further without Government sign off. I think ARA are doing all they can to get this going and are handling the Government as best they can as they did with the SCIR transfer. ARA have to be very diplomatic and smooth talk the Government as threatening Governments tends to increase the delay in Africa.
What's up Jollyboy ?
RoJo I am genuinely beginning to think your mother dropped you from the wrong hole 🙄
Whichever it was, it stunted your ability to grow up!
Why the delay then? one of the parties is stringing the other along!
Anyway guys - things could be a lot worse.
I've just heard of a poor chap who has not only sunk his hard-earned into Aminex, he's invested in Beacon Energy and Helium1 as well.
Maybe he has a sledge and needs a pack of dogs ?
Long-lead items on site ? That's great news.
Now all they need is a development licence, GSA, pipeline, drill rig, drill pad...
The long lead items are already there guys and have been since August
This from the AGM update RNS
"APT recently received the second shipment of long lead items with the third shipment enroute and expected in approximately three weeks. The shipments, among other things, include tubulars, casing and crossover joints for the spudding of CH-1 and the workover of NT-1. "
As ARA are requiring just a mobile rig for the NT1 workover, I'm thinking Helium one have the ideal option for that job and it's in country. They need further funds to complete Itumbula and they say they have been unsolicited approaches. Might this be Ara seeking to secure the use of the rig
ICB888, I agree with much of your post, current govt are much better and some progress has been made. I see it as a chicken and egg scenario for AEX, why would a rig and additional long lead items be ordered without a confirmed/signed GSA, let alone a delivery pipeline. All of this leads to additional delays. The constant misleading and overly optimistic messaging from AEX/ARA is unhelpful, let’s call a spade a spade, just for once. I too have held for many years and continue to do so, there is a future for this, but how long is that piece of string?
I don’t agree all responsibility can be abdicated by AEX. They have a responsibility to shareholders to at least communicate accurately and including statements like “The Gas Sales Agreement ("GSA"), approved by all parties, is with the Attorney General of Tanzania for final review. It is expected to be signed in the coming month.” is typical of their overly-optimistic statements released to market. How many times have we heard about “long lead items” being sourced? They have the expertise in Tanzania and therefore know better than most that timelines cannot be assured - my view is they constantly mislead with their messaging.
Tanz - you'd be better off looking at the SP rather than continuing to make personal comments.
Seawolf
We all share your frustration. In response to your comments I will repost something I posted last week in response to a post by Hardnose.
I think we all know that the drill is six years late due to the actions or more correctly inactions of the Tanzanian Government. AEX \ARA can’t force the Government to make decisions and hence the delay has been essentially out of their control. The previous Government was particularly bad but the new Government has promised to be more mining friendly and reduce delays. They are certainly better and decisions are being made. AEX /ARA have made progress most recently with the consent for the SCIR transaction which has now completed. The new 25 year license which is awaiting Government signing can now have the current partners on it ARA and AEX. The delay with the 2 signatures is not more than a few weeks late and could land any day now. There are no rose tinted spectacles on my part as I have been invested here for more years than I care to remember. I firmly believe we will have the signatures very soon whereupon the sp will correct. I am just finding the continuing negativity from some posters unjustified and unhelpful.
Tanz, while I don't want AEX to fail there are some good points raised by others on here. The delays are verging on criminal and corrupt!
it would be good to have some decent news before Xmas but im not holding my breath.
Well we know you want AEX to die altogether RJ just to satisfy that Grudge of yours ! As a boy, did you use to pick the legs off daddy long legs.......
Well it's all gone horribly quiet ! Where are all the dreamers ?
Presumably they've all scurried back into their caves and grottos. I'm told, although of course I'm not invited, that they are planning a Christmas party in the Wookey Hole caverns.
Well its a good start and better to have than have not.. as HE1 has demonstrated recently
Eh ?
I thought all that was important is how many gazillions of cubic feet of gas was in the ground ?
Maurel et Prom solved the preemption problem with TPDC by giving them an option to increase their stake. Now it looks as though the bid will be approved by Tanzanian authorities.
The Agreement is structured as a 'call option' for TPDC, which provides a pathway for TPDC to increase its ownership by up to 20% in the production interest (the "Call Option"). As part of this Agreement, M&P has received the required pre-emption waiver from TPDC and Tanzanian government approval for the Acquisition, and only the final consent from Tanzania's Fair Competition Commission ("FCC") remains outstanding, which is expected to be granted before the Jersey Court sanction hearing.