RE: Next Ntorya Operations Update21 Jun 2026 10:19
Key Drivers for a "Buy" CaseImminent Gas Production: Construction on the critical Ntorya–Madimba pipeline in Tanzania is progressing on schedule, with commissioning firmly tracked for September 2026. This opens a direct path to physical markets.Transition to Revenue: The firm expects first commercial gas and its initial operational revenues shortly after the September pipeline launch. This will transition Aminex from a pure exploration outfit into a cash-generating producer.Debt-Free Balance Sheet: Following an equity fundraising round and debt-to-equity conversions, the company has completely wiped out its outstanding debt.Substantial Carry Funding: The 2020 Ruvuma PSA farm-out ensures Aminex is carried for up to $35 million in net development expenditure, insulating retail shareholders from heavy near-term capital expenditure dilution.