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We should have an AGM within 3 months of the year end (Mar 31st) so should be before the end of June - however we have seen that often pushed out into July.
Hi Crusty,
as you, me too, is very keen to know those answers. Do you - or any other poster - know if there is a date or an event coming up when we'll have the opportunity?
Joeltg99 - Best to ignore Tanz, he's very negative and aggresive and a much bigger troll than those he accuses.
Maybe to one, with a small impatient mind
Another month has gone by with zero,zilch,nothing,nil going on.What a disaster this company,government and authorities are. Instead of going forwards they are doing everything they can to stymie progress. Brewery and booze up organising springs to mind.
Well in the same way as AEX would have wished to get rid of the Nyuni license the TPDC asked them to try and "Farm it out" to an operator (something they thought would be bloody impossible). IF AEX cannot progress the license they may be instructed to do the same for Kiliwani BG. They ha no operational capability at present anyway.
I have to claim that I do not know the answer but, rest assured, I will be asking that question at the next opportunity
What on earth are you dribbling on about Tanzania....why is saying how it is considered whinging? I think you are overthinking it old boy.
I'm not invested in AEX and haven't been for a long while, but am interested to see how the story ends (same way as Scirocco I would hazard) and am entitled to post on a public board like anyone else.
Pushing mid 24, under a penny.....let that sink in.
Had to come back and correct my sp blob - .05p costs or less of course....
Suddenly I've realised why this poster keeps whinging away ! He says his shares are next to worthless. He has no faith in AEX so continues to talk our investment down sort of satisfying his grudge I guess. It really is going to be will the l.ikes of yours truly, Crusty and the others that have averaged down, win out in the end. I am very happy with my few millions shares dotted around mainly at costs in the 50p bracket. I sit and wait the outcome, others like Joel and Rojo sit hoping and praying AEX goes up the bucket justifying their trepidation.......In som,e haste, God bless you brave ones !
Crusty " Can they keep the pot boiling? Will the TPDC allow them enough leeway to keep this running until then? Will the issues with the 3D (beyond AEX's control) buy them time?"
Will they, won't they ? We can no nothing for sure, though the question I would ask is, what would the TPDC benefit from taking Aminex's licence away ? We know what the TPDC reaction was when Aminex's told them that Aminex planned to hand back the (Nyuni Area licence), the TPDC asked them to keep it and to carry on and endeavour to farm it out.
Quite telling I think.
Either way it must be incredibly tedious heading into yet another AGM without any progress whatsoever, and by that I mean the SP.
You must all be very bored of talking about what "might" happen all the time.....
Well you all know my opinion on this as indeed should RJ, as he was at the AGM in July. Tyhey staed then that to ,maintain the operatorship of Kiliwani they need to report annually to TPDC on heir operational progress in that year and plans for the future year. The 3D seismic was expected to tick the box for 2023 and they thought that the could cover the haitus between 3D seismic results and "production" from Ruvuma. However we now know that the 3D seismic project crached and burned and Income form Ruvuma is not not now expected until H2 2025. Can they keep the pot boiling? Will the TPDC allow them enough leeway to keep this running until then? Will the issues with the 3D (beyond AEX's control) buy them time?
Well it is certainly a question I will be asking at the next AGM which, even if they hold it again in July (very late based on past performance) is only a few months away.... it should be within 3 months of year end results so, without extraordinary justification, I would expect it before the end of June.
Well mot companies work on a PE ratio above earnings position so closer to 3p would probably be a fairer valuation & still on the low side.
As for Operator status, it surely fully depends on what they do with Kiliwani, with cash in the bank they could very easily invest into the asset, 3D & identify drill ready prospects. They do after all have a development Licence in place to 2036
25 year development licence next & CH1 drill + workovers over Ruvuma.
The weekly comic suggests it does but if Ruvuma brings in the expected gas revenues of $34 million net cash / yr then that figure alone is worth close to 1p per share. If that was divvied up each year that would almost cover the current price?
Maybe my quick musings are wrong but if they are correct does Aminex really need to do anything other than count the cash when it begins?
Thoughts anyone
Thanks for the offer RoJo but I get the pukka legit medication free from the NHS at my age.
Have a good trip south. Taking the trouble & Strife with you this time ?
Highlights of the week
" Aminex is a well-run business" optrade
Aminex has no say or sway over anything. There is nothing to run.
" sitting on huge reserves " optrade
Contingent reserves aren't worth a wooden nickel.
"and having enough funds until expected cash flow receipts from sales of Ruvuma gas." optrade
Aminex currently has a negative working capital. In Q3, Orca Energy Group at 121 MMscf/d, earned $0.01/sh because of payment in TZ Shilling. That's what you can look forward to.
= = = = = = =.
The delays keep coming and the belief that the risk has subsided here lacks foundation. Some might contend that ARA will rescue the situation by providing the essential funding to avert a financial collapse of Aminex. While this may be true, there does also exist the possibility that a subsidiary of TPDC may abscond with the remnants of Aminex. ARA would not take offense to that, provided that the subsidiary is listed as a public company.
For Aminex to be of any lasting significance, it must continue to be a vital 'operator'. The complete development of Kiliwani is estimated to cost approximately US $140 million. Consequently, the odds of Aminex retaining the 'operator' status of Kiliwani is quite slim.
it’s common for companies to face significant challenges when they lose a crucial status or position. The loss of its 'operator' status will be an extremely difficult event for Aminex to overcome.
" Our sun is one of 100 billion stars in our galaxy. Our galaxy is one of billions of galaxies populating the universe. It would be the height of presumption to think that we are the only living things in that enormous immensity" 1. Carl Sagan
In a parallel universe, Aminex might retain its 'operator' status. That storyline appears extremely unlikely here.
You could bring me some back 🙂
I'm on my way back to the South of France Tanz.
Would you like me to get you some of your little blue, err headache, pills.
How many?
Thanks for those few words optrade. Prosciutto is bound to quote you word for word very shortly (I don't think).
Aminex is a well-run business, sitting on huge reserves and having enough funds until expected cash flow receipts from sales of Ruvuma gas. Undervalued SP should be 1-5P. Fill your boots and be patient.
Ooops missed out on the NT1 re-working entirely ;0)
Some original comment there Moi and do I detect RoJo could bunk out at 2p !?! Blessed relief...... A huge light suddenly at the end of this tunnel.
Yes agree Crusty, I feel my work is done here now. 🙂
I think you will see an sp very close to 4p Rojo after a succession of positive news items; Dev License, rig contract, NT2 workover, CH1 spud date, drilling (Dec?), Pipeline initiation Q1, CH1 analysis and, finally, production. And all within the next 15 months. Were that to happen that is more news flow in 15 months than we have seen in the last 15 years!!
And if it does get delayed by 6 months, so what? What's another 6 months?
2p? bit rampy