Member Info for CrustyPete

And you are 100% correct to provide that "caveat" CP; until and unless we are awarded that License extension for Ruvuma we are "at risk" and the previous work on Ruvuma counts for very little. Hence the current discount to "asset value"..... And the longer the wait, the higher the perceived risk and the larger that discount.

I have no doubt that we will eventually get that extension but I could not even guess the length of time we will have to wait and, in my view, every week that we wait will hit the sp; until either we get that extension or we announce that the "long stop" date has been pushed out.

Without that it will not only be the UK that falls off the "cliff edge" on the 29th March. At least Theresa May has put in provision to push out their "long stop" date - it would be sensible and beneficial for AEX shareholders if the AEX BoD were to do the same in my view.

"The delay has hurt him far more than those here that gave dipped out and bought lower."

Well whether there are any here that were fortunate enough to have dipped out and bought lower remains to be seen but even if that were true I doubt that Jay would be too worried; in the two years since the share price was 7p Jay has earned more than sufficient to "cushion" the blow....there aren't very many LTH's that will have earned the same.

"Come on you procrastinating bunch of ?"

? = Government Officials? Civil Servants? What exactly......?

Circa £600k of which he got for an selling an asset to AEX now valued at NOTHING...... I wish my several millions had cost me nothing. I have paid far more cash for mine than JB has for his ;0)

I think you will find it is £640k..... just a decimal point's difference.

I am pretty sure that will be the case - it is likely to mean that if they take any more long positions they will have a declarable interest... Though it could also mean that they do not want any more risk exposure to the stock.

Yes GL as I reported after the EGM - there are several. And they too are waiting on the outcome of our Farm-Out vote before the Govt approves them... NOT! ;0)

Not long to wait now if that long stop isn't to get pushed back. Will AEX and APT wait until 31st before doing so or will we soon be told that it has already been done?

GLA

"People on here seem to take great delight in trying to interpret everything the Bod say as a lie, when all they are in fact trying to do is inform us what they can about a situation they don't have full control of."

Some amy suggest that information is a lie; that has never been my attitude but nor have I ever taken it is you continually portray it as a "fact"... At the risk of repeating myself , yes it is a fact that the BoD have stated it but just because the BoD have stated it does NOT make it a "fact".... anything that relies upon delivery by the Tanzanian authorities (of any persuasion) can rarely be accepted as a fact, in my view.

So yes, such things as FAQ's are meant, and should be taken, only as a guide and will only ever be a high level; summary of a given position. Moreover the FAQ's are also very selective in my view, as they only provide answers to the questions that they choose to include....

A bit like a Referendum - the answers you get depend very much on the questions you choose to ask. Furthermore a simplified, one line answer often does not convey the complexity that the question deserves.

We will only know that GL when we have a new longstop extension on the table...

Drewky you say "So the situation is that the government have assured Aminex that the licence will be awarded. By definition this means it is forthcoming."

Well that, of course, presupposes that there is absolutely no possibility that the Tanzanian Government will renege on that assertion.... would you put your house on that ? I wouldn't. Not after the Acacia Mining incident - anything is possible.

And whatever "forthcoming" may mean - as I have said from the day it was quoted here "ad nauseam" by the happy clappy club whatever "forthcoming" may have meant it certainly was never "imminent"...

Really glad I have held some investment money back... ;0)

Well surprisingly even those that have been here long enough to know better seem to take all that the BoD spout forth as "gospel", believe the FAQ's to be the "word" and tend to interpret their words in the most positive possible light. Strange really, looking at past performance, they should really know better.

No-one has any knowledge of why, what and when the Tanzanian authorities will act on anything - it certainly won't be influenced by the shareholders of little ole AEX voting in favour of a farm out ;0)

And yes, I totally agree with Drewky regarding the back stop - the two parties have no reason not to re-negotiate the longstop date and I said exactly that after the EGM - but of course I was making it all up and there was no way that it would come to that after the positive vote on Farm-Out agreement.... and indeed maybe we won't but at least now some people are considering the possibility.

Okay, so total bollocks then....

Tejero you say " currently flow testing ". Where do you get that from?

As far as I was concerned the last we heard was that they were having great difficulty expelling / extracting the water from the well. Where have you heard different?

I would agree with the logic but not quite the inference of the phrase "keep the gravy train in motion"... I would agree that without working Capital they were likely to run into a load of roadblocks that would prevent day to day operation and I have never had any confidence in the assertion that they had the cash to complete the KN1 remediation programme. Maybe cash enough to do so but only at the expense of meeting other liabilities - and yes, one of those being wages. As I have said in the past; how could they fund the KN1 remediation if that was the only cash they had left without knowing when the next income payment (Farm-Out cash, KN1 invoices) was going to hit the bank account.... At least now (for a while) they do not have to worry and can actually get on with some operational activity, knowing that in the fullness of time the Farm-Out cash will eventually arrive.

Random you say "would lie in an RNS about the reasons for the placing..." but once the Farm-out is complete and the $3 and £$2 million have been received who will be able to differentiate what has been spent of what?

And then you say "They must of had something planned otherwise why do the placing 6 weeks before a cash injection."

Well I think it is a lot simpler than that; I would take the placing as a very strong indication that they do NOT expect to get another cash injection in within the next 6 weeks... Indeed as the costs of the Kiliwani and Nyuni Seismics and KN1 remediation are unlikely to require immediate, upfront, payment it begs the question of when they actually think the Farm-Out payments will be received; if of course the reason for the Placing is the one given in the RNS....

Whoops, sorry; not intentional - BUY

I seriously doubt that the MM's would have given you 250k at just above the bid if they were looking to fill a large order; they would want to hold on to them and make you pay up for them....

Unless the large order is a sell order! ;0)

Well fjones "it is soon to happen for sure".... what now you have over 500,000 you mean? ;0)

NOTHING is sure to happen "soon" in Tanzania fjones, as you know very well....

Well I agree with the logic Drewky I am just concerned that "logic" seemingly plays very little part in many, if any, Tanzanian Gov't decisions unfortunately. If they did we would certainly not still be in the bugger's muddle that we seem to be right now.

Indeed there seems to be next to no logic in the building of that bloody great dam that the Tanzanian Govt are plugging all the time; and that is surely a vanity project for Magafuli in advance of that election....?

I don't think so, no; it looks to me more like a "back to back" trade with a much reduced spread. A T25 rollover from someone that bought in for a short term gamble on the License Extension and who has been left wanting and well out of pocket due to the delay.....?