Member Info for CrustyPete

The share might be less speculative than in the past but the posts don't change, eh? ;0)

Unless, as was suggested by one poster earlier this wekk, that the BoD decide to take the sale proceeds and distribute them to shareholders before closing the business down - but then Turkeys don't vote for Christmas do they? They will want to keep their personal gravy train trundling along.

"is it worth buying ?" Not unless you think the "sale" is reversible and, frankly, I cannot see that happening.

I would tend to agree Jetty but a few seemed to find a reason to sell as recently as only today...

Asking smudger? Or suggesting that something had leaked?

Goodness me here we go again, one sniff of an sp rise and the speculation starts again..... let's just see if this one "sticks".

I am not sure about the interest rate but I believe (it is open to interpretation) that the loan would have been paid off at completion of the sale.

Well had the WEN deal not been usurped by ARA and TPDC the effective date of the WEN deal would have been January 2022 I believe and so all costs from that date would have been borne by WEN. If ARA/TPDC are, in effect, replacing WEN in the "new" deal then presumably those costs are now the province of ARA and / or the TPDC? And by extension, I suspect, so too the "loan" ($6.5m) that came as part of the WEN package?

FYI

https://www.fiercepharma.com/pharma/mercks-megablockbuster-keytruda-flops-head-and-neck-cancer-trial

Well only time will tell BG but I wouldn't be banking on anything meaningful. 2D maybe but also two apprisal wells - 2D or 3D the acid test is the appraisal well, hence another reason wht the CH1 drill is the more meaningful and material event.

I am not sure that RJ would miss much of a rise on any seismic results; we already have 25% of a huge reserve and yet you wouldn't know it from the current MC - that suggests that there is minimal, if any, correlation between the MC and the GIIP. In which case why would a rise in GIIP on the basis of the seismic results actually make any notable difference to the MC? And even if so, a 50% rise in GIIP would give us what, another 0.35- 0.40p - wow feckin' wee.....

Drilling is the only thing that will move this sp significantly (will it be sustained?) and then, after that, a favourable GSA outcome and pipeline strategy. Then we have a route to market and a potential value for our then "P2" resources. Only then will the MC reflect the GIIP and resources, in my view.

I do not think that is the case edgar - they started the seismics weeks ago and, I am sure, will already have enough information and analysis to be able to determine the eventual position and depth of the CH1 drill. They will not need to complete the whole programme to be able to define this as they havethemselves stated in the past. However it will be a good while before they will have all the information and analysis for the whole programme and until this is done highly unlikley that they will announce any results; it is hardly worth doing so just to confirm that they now know the CH1 location - after all there may be no reason even to move it?

I could also mention 44RJ that AEX have also had their share of "howlers" - The purchase of Canyon Oil (from JB and PT), Shoats Creek, Egypt (WEEM) and the Sale of AEX US to Northcote for shares, to name but a few. All of which significantly eroded Shareholder value.

I would agree to a point but many AEX shareholders were spitting feathers over the size and scale of salaries and options that the board awarded themselves over the years between 2010 and 2019 for minimal justification in terms of "creation of shareholder value".

"Not the case at Aminex. You don't see them throwing cash around with gay abandon, leaving them weak and defenseless."

Really?! Why oh why do you think they had to sell out their 50% in the first place?!

They may have learnt from their experience but they have made all the same mistakes; they still don't have enough cash left to develope Kiliwani and for exactly the same reasons.

"Generally you can’t just go pulling out of deals because you have sellers remorse." Quite right, just take a look at Elon Musk ;0)

All the excitment disappeared when tripemctripe and his mate PoC got tired of waiting for that imminent sp surge they have been predicting for the last 18 months and went on holiday, or sold up and went to SCIR instead ;0)

What happened to the "wall of news", the sp rise on the back of the seismic kick off, the imminent phase one results (once predicted to arrive before Xmas 2021) etc, etc.....? Well thankfully, most of us have been here long enough to be taken in by such overly optimistic and self serving claptrap.

Not long to wait now though methinks - once the summer holidays have passed I hope and expect to see a modest but sustained rise to Spud and then maybe an NT2 type rise at that point. Though any expectations could be scuppered by a spud delay.

Fingers crossed ;0)

I am broadly with edgar on this - we have just had a dilution to enable us to get to production without the need for further funding. Finding the cash for this would require us to find yet further funding, which I agree after CH1 spud might be more than manageable but far from guaranteed. We have all seen what happens to companies with cash flow and funding difficulties. One of my other holdings recently went into administration for exactly this reason. Personally, I would not want to see AEX take the risk.

None.

I also think that with hindsight this outcome may have been alluded to at the AGM when it was suggested that ARA put great store on their reputation as an Operator of the Ntorya asset and their responsibilitiies to their JV partners.

From an ARA perspective any additional shareholding that they acquire from SCIR would provide an offset to the dilution caused by TPDC reversing in to their 15% entitlement and for a very small outlay.