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..err The TRUTH. Accurate assessments and predictions (for years!)."
Predictions, lol, all you do is come on here and tell us, news hasn't arrived yet or sp hasn't risen to 3p yet. Wow thats cleaver, lol, gosh you're like a child, are we there yet, are we there yet. NO, not yet but we're nearly there, .now shut up and read your Beano. 🙂
LOL...
...err The TRUTH. Accurate assessments and predictions (for years!).
You've been nothing but hopelessly wrong over the same period :-)
Re-read your posts RJ.. What have you contributed apart from twaddle
Re-read the posts Gazfemme.
You'll realise I'm the only one not contributing twaddle (apart from Professor Prosciutto of course)
So, so glad you are back here with us Gaslady. I have the feeling arrival of a sudden RNS will have RJ back in the shadows where he belongs, but the problem is, how to keep him there, once and for all !
Well stop spouting it then
You were absolutely right gazfemme.
No shortage of twaddle. A downright deluge.
The existence of Aminex is justified if only to keep one bloody idiot off the streets for a couple of hours every Wednesday morning. In doing so it makes the world a safer place!
Thought they'd be back in school by now, I take it normal service has resumed.
Nahh.
You probably should be PoC !
"...heralding the reappearance of a teaming torrent of untempting talentless twaddle.."
Congratulations on being the first twaddler gazfemme !
Not even a mention that the Ruvuma licence expired on 15th August. So effectively ARA and Aminex have no project..surprised you missed that one Rojo! Are we bothered??? Nahhh.
Yet another alliterative attack of alarming alacrity in a constipated display of perspicacious polysyllabic peripatetics, heralding the reappearance of a teaming torrent of untempting talentless twaddle..
Highlights of the week
" Well we're supposed to be eight weeks away from gas production so they better report something soon. " 1. Longtermholder
This level of misinformation is ubiquitous and only superseded by the 'silly list'.
" Incidentally POC what happened to those seismic results that you told us we should expect before April?" 1. CrustyPete
Everyone is still anxiously waiting on the Ruvuma 3D seismic interpretation. You really don't want to read about " small stratigraphic traps". This is still an exploration asset and not a development asset. Chikumbi needs to come in big as an outlier success.... no small feat. You can't rely on the poorly imaged 2D seismic but the 3D seismic will provide that binary decision point.Â
You had best prepare a 'celebration of life' for Aminex if this 3D seismic is comprised of isolated small stratigraphic traps/pockets of gas instead of a 'World Class' reservoir.
" They may well still get the spud in before year end, however, first gas will be pushed back to H1-24 by the looks of it." 1. cperkinÂ
Reality is starting to sink in. There may be yet another orchestrated delay which may, with a negative working capital, precipitate the collapse of Aminex into ARA's / TPDC's lap.
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" Reducing our operating expenses and overhead significantly to protect the Company while the project is still not generating cash." 1. Aminex
This represents the exact summary of their financial predicament .... written in plain black and white for all to read. What more do you need? The company itself is saying the exact same thing you are being warned about. Remember, there is no money coming in. Those running costs do not stop. One more major delay and this entire house of cards comes crashing down.
There is a very big risk, that the company will need additional funding, as working capital is negative. With the balance sheet as weak as it is, the plan of borrowing money is no longer on the table. No 'sane' banker would be willing to lend this company any funds. Equity dilution appears to be the only solution.
Aminex exhibits a life of quiet desperation whilst the clock counts down and investors' " lost opportunity " costs continue to soar.
What has Aminex contributed to the past? .... not a thing.
What is Aminex contributing to the present? ... not a thing.
What influence does Aminex contribute to the future? ... not a thing.
So, why does it exist?
Even in the best of circumstances, things are far from rosy. If they elect to do a raise, you'll be looking at a massive dilution. If they elect to do a farm down, there won't be much left. This will evolve into either a Scirocco or at best, Wentworth. If you can extract a 30% premium to the 20-day VWAP per share, you should quickly take it.
Carpe diem by encouraging the company to search for a strategic alternative. Be hopeful of a 30% premium to market and hope to hell the takeover will secure regula
SP is dropping guys and gals.
Are you sure there isn't something you should be heeding in prosciutto's post ?
Aminex is not in control of its own destiny. It depends entirely on the agenda of others. - Just like countless other projects, most are handed over to those with larger pockets to see it through to monetization. Aminex could never have funded the 3D and drilling Campaign on its own without significant investment which it now has through its main shareholder and backer ARA.
To look it another way, look at the number of people who go on dragons den with ideas/products that have little or no revenue or money but have a great product. Dragons take the lion share of the company and progress the company until it makes money. Aminex gave up 50% of its licence give itself a path to significant future income.
Literally all resource companies have zero income to start with because they start out as explorers. Aminex is about to again join the ranks of those who are producers. How much do they have to sell? Well we will have to wait for the 3D results and CPR. But its likely to be significantly higher than the last report.
Aminex are free carried to production and have enough cash for administrative expenses until the end of 2024.
Tanzania Elections are 2025, if those politicians want to keep there jobs, they will need to provide their citizens with reliable energy. Something they have been advocating to them for sometime now.
SCIR got a bad deal due to the BOD
Wentworth tried to buy into SCIR interest which shows they had appetite to continue exploration in Tanz but ARA decided to take up its option to buy SCIR interest. With little or nowhere to go after this the Wentworth BOD are now trying to get themselves a payday.
ORCA have had a production contract with the TPDC for nearly 25 years and are looking for better terms.
Another parrotive narrative of gamy gammon from the deli
More stale tales of rancid ham from the charcuterie
Highlights of the week
" I thought in a recent RNS they said they had a mass of 3D data that they would be assessing and would have a result towards the end of the year which might include a reassessment of resources. Sounds encouraging to me." 1. NorthernMagic
There is a need to clear up some confusion. The 3D seismic that is at risk of being cancelled is for the SongoSongo License plus part of Kiliwani North Development License (KNDL). This is completely independent of Ruvuma. Aminex has a 63.8% interest in KNDL. From Orca Energy Group's 's perspective, the Kiliwani North Development License would hold significant interest for them. Orca Energy and Aminex are joined at the hip. Orca was to absorb the cost for 12.5 sq km of 3D seismic over the KNDL and that's about a US $1.57 million gift. The 3D seismic should pinpoint new structures and stratigraphic leads. This is shallow water and very close to a new gas processing plant. There exists ample spare capacity at the gas processing plant and a 35 km pipeline is not required. The drilling and the tie backs could be handled by Orca Energy Group but now all of this 3D seismic is in danger of being cancelled which implies that any future plan for the exploration of KNDL is in danger of not coming to fruition. This turn of events is not particularly good news for either Orca Energy Group or Aminex.
" If you took your car to a garage for an repair and the company said it would take 3 days to get the parts and fix it, but 3 days later said it hadn't been done and would take another 3 days, you say ok but 3 more days later they say it's going to take another 3 days. The more iterations of this the more risk that you'll say enough is enough and take the car to a different garage." 1. StockCheque
You are overdue to move this vehicle to a different garage. There are so many profitable Oil & Gas companies out there you should be looking at. Why would you bother with this pos?
= = = = = = = =
This company has some of the weakest fundamentals ever which leads one to wonder where on earth are all of the gullible investors coming from?
USD (000), Dec 2022
Total Current Assets $7 127
Total Current Liabilities $9 917
Uh oh!
This requires money just to remain a 'going concern'. Aminex represents a redundant and unnecessary level of bureaucracy. What exactly does Aminex contribute?
Are you prepared to throw good money after bad? Aminex is not in control of its own destiny. It depends entirely on the agenda of others. If the pace of the agenda slows down or stalls, Aminex will hit a brick wall.
It is nearly impossible to get investors interested in a gas producer in Tanzania. You need only look at Scirocco or Wentworth or even Orca Energy Group which is trading below its cash level. At what point do you decide to act and call it quits?
"The most difficult thing is the decision to act. The rest is merely tenacity." Amelia Earhart.
Encourage the takeover of Am
ARA or Aminex.
Still no seismic !
Keep up Rojo, ARA are running the seismic, not Aminex, but you knew that and thought you’d have a pop, sad really. :(
I thought in a recent RNS they said they had a mass of 3D data that they would be assessing and would have a result towards the end of the year which might include a reassessment of resources. Sounds encouraging to me.
Atb,
Northern
Discover Ntorya, which is turning out to be a massive resource. 🙂