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Heard in the pipeline to expect some big news on the morning of the agm.. Does anyone know when that will be!?
Going to give us a clue Max??
Hey Dal I belive it's either a settlement agreement of of the outstanding money owed to us by the goverment or the completion of the imaging. This is the same guy that told me JB won't be turning up to the agm. I have been invested here long enough and I think we nearly getting there.. Hope the next two rns will push this past 1.5 ??.
Thanks max either would be great news. I’m hoping for 5p + following next drill hopefully same hype as before fingers crossed
MaxP - from the 2019 annual report:
Included in trade and other receivables is an amount of US$7.80 million due from the
TPDC for gas sales from Kiliwani North and related late payment interest. Aminex’s net share of the receivable is US$3.23 million
(31 December 2018: US$3.04 million). On 11 April 2018, the Company received formal notification from the TPDC requesting
payment of certain amounts totalling US$5.97 million for liabilities arising on revenues from gas sales, of which Aminex’s share is estimated to be US$2.73 million. Of the amount claimed, Aminex has already accrued for the liabilities it considers appropriate based on its own calculations of amounts due as at 31 December 2019. Aminex has advised the TPDC that it does not accept the balance of the claims, which include computational inaccuracies. The TPDC has delayed settling its trade receivable balance while discussions continue.
AND..
The Group has received legal advice in country that supports its position and this has been provided to the TPDC. No further provision has been made in the financial statements for the additional amounts claimed as the Directors believe the claims are without merit and are satisfied that the US$7.80 million included in trade receivables as owing from the TPDC is recoverable.
yes, it would be nice to get the $7.80 mil owed settled, I guess they're holding back on the announcement of the date of the AGM, waiting on conformational news, re; F/O, settlement of money owed fingers crossed, and maybe news of (financial partnering) ? but I don't think they will release news on the day of AGM, but on the days leading up to it.
Blackgold, i wouldnt put it past Aminex to put out an RNS on the day... they have done it before.
either way i am looking foward to it.
AEX have to give a months notice for the AGM.
Oh and for those that are interested the "unofficial" and real world spread is now 0.85 - 0.95p
Crusty not spitting hair but CAPD RNS 14th May stating AGM 9th June (Earlier Than A Month) !!!!
Yes, you are splitting hairs - or, even spitting hairs.
21 working days is the actual figure but this cannot include the day of the notice nor the day of the meeting and must also include sufficient time for them to receive the notification through the post (minimum 2 days); it means that a very minimum of 25 days is required, and could be 27 dependent on how you interpret this. The only exception may be because the Company explicitly shortens the notice period in it Articles but even then can only shorten it by one day.
I had hoped that most people on the BB would accept 1 month as an acceptable approximation but it seems that you are a detail obsessive pedant Frank?
Perhaps I can ask you to ensure that you are just as detailed in all of your future posts?
No one is more detailed as you Crusty, we are all blessed we got such a wonderful person looking over our interests, keep up the good work Tony :o)
MAX, with regard to your view that there will be big news on the morning of the AGM must surely dictate that they know the date of that news and can elect to hold the AGM on the same date - that is with circa four weeks warning..... That seems something of a stretch as if they are already aware of the news and it is significant / material they are obliged to notify the market as soon as they are aware of it! So what you are saying is that they are aware that, on such and such a future date, they will receive (official) news of something they already know (unofficially)..... and that they will schedule the AGM to coincide with that news.
Even if that were true I do not think it would be possible to ensure that the two dates coincided - how often have the Tanz authorities ever hot a target date?!
In which case it must be news within AEX's or APT's control - maybe a Rig or Seismic contract? But then even that would rely upon the Farm-Out approval having gone through.... something of a conundrum.
* hit not hot
DOH!
what about a (memorandum of understanding) regarding a production deal/strategic partnering, the timing of which might well be under their control ?
such a cheery chappy that man, keep taking the pills !!!!
Maybe BG but it would still be reliant on a License extension and/or work programme approval if Nyuni / Kiliwani and Farm-Out approval if Ntorya and so again without either or both of these not "material" in my view...
Oh and Frank I am not the one on the pills and if you are not on the Prosac you really need to cut down on the e-numbers...
I`m all Oh Natural Crusty, but keep taking them tho !!!
Hey CP, I think the issue with the AGM is down to flight issues... they need to get everyone over here and back... from Oman. With the current Covid19 issue they not in a position to put an exact date, in addition anyone coming over may have to go into quarentine for 14 days... - to many complications! I personally hope we get news! I am expecting an RNS next week to confirm completion of the farm out... let see?
Do you mean "au naturel" Frank?
So just in case you cannot read Frank - I do not take pills. Have you got it yet? I realise that you have to be told things several times before the meaning sinks in but I thought even you might understand that on first reading. Evidently not.
You just keep on "spitting hairs" Frank.
You make a good case MAX but of that were to be true, how can they be sure that there will be "big news" on the eventual, as yet unknown, AGM date? If the news is "big" and therefore "material" they are not allowed to withhold it to a date of their choosing; they have to release it to the market as soon as they are aware of it.
So are the TPDC, APT or Tanzanian Govt holding back news just to allow AEX to release it on the AGM date? I seriously doubt it.
As a shareholder I would rather that they simply kept the market up to date with developments as they occur rather than (as you are suggesting) withholding it for better effect at the AGM.
"they need to get everyone over here and back... from Oman."
yes MAX, I guess now the Gov has announced the 14 day quarantine plans for those arriving in the UK, Aminex can now decide how to hold the AGM and suppose it will be some kind of a virtual meeting.
Max-Power....you could be right, without checking my facts, didn’t Aminex announce the Farm Out (big news) at an AGM? I’m sure that the terms of the deal must have been completed a few days before OR was it just a coincidence the terms were completed the day before the AGM?
No OG they did not.... they held an AGM at which the Farm-Out was approved but the Farm-Out itself had been flagged months in advance of the AGM.
Oh and just as a reminder OG that "big news" was SO good that the share price collapsed post approval...
We could do without another debacle along those lines.
Apologies for approval read announcement.