Member Info for cperkin

Don't be silly Dunder, you only need security for something of value!

:0)

The best thing is to expect nothing as delivery of nothing is delivered so very often.

Life, but not as we know it Jim!

https://twitter.com/AminexPLC/status/1106461310265507840

Looks like (licence pending) that there could indeed be 2 wells drilled this year.

GL

https://twitter.com/AminexPLC/status/1106461310265507840

What no RNS this morning after that one code ;0)

It's could to explore the worst case scenarios with out a doubt steve and yes money spent would be recoverable and the law allows also for International arbitration.

So worst case, lots of years and effort wasted but a decent portion of the £13 million spent returned to add to the current £7 million cash
Best case, licence issued, Farmout complete by the JV and the Asset valued @ £15 odd million prior to C-1 drill.

Best case is by far the most likely.

GL

"no stopping this share from falling under a penny"

Thats not right Killer, clearly a licence would stop and reverse the trend and it is completely unpredictable when that will be issued, after all the Bod clearly don't have a clue! Still like you happy to pick up some slack end of the month.

Maybe steve, I honestly expect the licence once the Tanz Gov are ready though. They are all over the place at the moment, hence their new amendment to the mining licence the other week that they only put in place last year. So just a few months after introducing tougher terms, they have relaxed them already because investment was going to dry up.

What a mess they are in, bit like us and Brexit, for them it's Licence and production sharing agreements.

Actualy steve that's a good point "Tens of millions lost" I believe the expenditure by solo on the Exploration followed by the appraisal wells, NT-1 and 2 amounts to about £13 million. If indeed there was any issue such as no licence granted then that £13 million would have to be paid back by the Gov, so along with the £7 million cash on hand already, solo would have £20 million to play with in a worst case scenario or over twice the current mcap.

I guess that explains BD1-S sense of humour failure.

Just for clarity

AA was clearly joking about the fabled 1 trade as was I with my response and hence the :0) at the end.

Never mind

Not till tomorrow apparently AA, either that or someone is going all in with a top up ;0)

Was that meant for me Mystery? I was after all simply answering a question asked.

11 working days to the longstop, not much the Bod can do about that one I guess, progress reported however on all fronts, from Ruvuma, Helium-1 and KN-1 is pathetic from all operators.

I have no idea if the licence will be issued before the 31st and I suspect aminex don't either, however I do agree that if both parties, Aminex and the Zubairs wish for the current agreement to be extended then the longstop will need to be extended before the 31st.

Or do you mean by contract a longstop extension?

Frank, when you refer to the contract, do you mean the Farmout agreement? This would be good in terms of showing intent by the Zubairs and Aminex but my understanding is that it's still not binding till the extension licence is issued.

So positive in terms of showing intent but legally a non event.

The licence is the key here and I have no idea when that will be issued, before or after the 31st, as both you and Crusty have pointed out any extension to the longstop due to non delivery of the licence prior to that date needs to be communicated prior to the 31st in order to steady the market.

Hope it's not a long wait then John, I was reading matherdj's post and was thinking that early week commencing the 25th would be the time to make an announcement on the longstop if nothing before hand.

GL

No, well played on the lower than the Zubairs, but I meant buying in tranches but keeping some powder dry in case of an extended longstop.

Tanz gov are all over the place it seems, that article on amending the mining law this month when they only introduced it last year about sums up the mess imo.

https://www.theeastafrican.co.ke/business/Tanzania-relaxes-protectionist-regulations-in-mining-sector/2560-5019246-teggptz/index.html

They certainly have full control of proceedings though.

You got them for less than the Zubairs Crusty :) Quite agree with your tactics by the way.

Well 10/10 for effort Frank!