Member Info for CrustyPete

Agreed CP, AEX received a derisory sum. Only $5m and a load of credit that could only be spent on one thing.... and that is not the same as $40m. The point being that I do not believe that Solo are in any better position to negotiate a better deal that AEX were at the time and nor that there are any more potential buyers.

Sorry, as I said simply the lowest that I have seen. I obviously wasn't paying attention in March.... ;-(

So this is the lowest entry point that I have seen since I first became a shareholder over 10 years ago. What a mess this is.

BG I hope you are right about the Tanzanian Govt and pre-election F/O approval because if not I fear further falls. As I said a month ago - bargain basement prices....

The reality is CP that we do not know what value the Tanzanian Govt taxed AEX on; was it $40m? Where did you get that information? AEX paid $2m (from memory) in tax but was that calculated on a supposed gain of $40? I don't believe we know that. Moreover whatever the Tanzanian Revenue based it on is absolutely no reference point for whatever a potential investor will base it on..... As for the shareholders, I seem to remember being here once before. Are you suggesting that Solo shareholders will refuse the first offer that comes along? There may not be a second one.

"$16 mill is not enough to purchase 25% of Ruvuma" really CP? In whose opinion? I think $16m is about par for the course. $16m is a lot better than the pro rata AEX equivalent of $2.5m cash and $17.5m credit - $17.5m of credit hypothecated to a single project is worth no more than $10m of cash.

It looks as though one sizable shareholder has finally lost patience with this Groundhog Day company - or is it the chaos and corruption in Tanzania that has destroyed their will to live.

That was certainly part of the approved capital raise so yes, if they commited to investing capital into AEX for a specific purpose then yes, it was with their agreement.

But what was it that they agreed to spend the other half on BG? Pi55ing it up the wall....? ;0)

Not quite BG, they invested in £20m in the 29.9% of AEX that they purchased - it was Aminex invested that money (or about half of it) in NT2.....

Fantom, logically I would have to agree with you but this view evidently hasn't been adopted by the current Govt at any point in the last 5 years so I very much doubt that they are likely to have an overnight epiphany.

Though I very much hope I am wrong.

That is pretty much mirrors my own view POC....

We'll we will find out in short order BG. Only another four weeks until the next "longstop" extension..... will we need another one? Not if you are right BG. But then what is another extension after already having suffered so many? 5 is it now? Or does it just feel like that many?

What the Tanzanian Government or even Ministers can do and what it/ they choose to do are not necessarily remotely correlated.... surely the die is already cast?! If the Govt had thought it would be in their interests to sign/approve the F/O before the election they would have done so before now. They have calculated that the carrot of post election approval will get them more votes; by promising "jam tomorrow" people will make sure that they are in government to fulfill their promises. (deluded fools perhaps?)

But you never know, stranger things have happened.... here's hoping.

Indeed Frank. As I said there is always support at circa 6.50p so unlikely ever to plumb the depths you suggested yesterday - thank goodness ;0)

Don't worry too much Frank I very much doubt that you will see 0.40. 0.50p. There will be a lot of buyers coming in before we get to that price. The floor has always been 0.60p or thereabouts supported by a whole bunch of buyers at 0.60 - 0.65p. I have even been tempted at that price myself on the 2 previous occasions that it has reached those levels. Though I doubt I will be tempted this time - I have more than enough already and I also have two other targets that I am accumulating; one of which you are aware of.

So Frank, what did those buyers of 3.9m shares on Friday know that we didn't.....? Did they not want to be out over the weekend?

And of course CP they would attribute a value to the deal that was the most advantageous to themselves. The bigger they could make that figure the better off they would be. Just because they gave it that value may not not mean that anyone else would.

I really don't know CP. Is anyone aware of the logic behind any of the Tanzanian Authorities machinations?! I would agree that they had to value it at something but the logic behind it is anyone's guess. I am totally amazed that they could believe that they could find any Capital Gain in it at all as the deal didn't even cover development and licensing costs; so whatever and however they calculated it was must have been fairly creative.....

And what difference will tat make to anything then CP? They will veto anything tat might take place at a lower value.....?

"poor Crusty" indeed BG and poor shareholders to boot.....

I am 110% up but I bought for the long term and will remain for the long term.... It will be many multiples of the current price if only one or two of the current pipeline are successful.