Member Info for CrustyPete

I am not sure I agree dunder; if the Zubs cream off the only decent talent at AEX that would simply leave us with the dross - and the overpaid dross at that. :0(

Agreed Mather, we are where we are but how we got here is another story.... driven into a corner by the very same people that are paying themselves unjustifiable salaries (in my view) whilst offering no explanation or justification for the predicament that we now find ourselves in; quite the reverse in fact actually "patting themselves on the back" for finding us such a good deal. It would actually be comical if it wasn't so insulting.

Tanzania, as I have tried to explain to you several times in the past, I accept (grudgingly) that we no longer have any other alternative to the proposed Farm-Out and haven't had for a long while; not since the money ran out, our license "expired", since we have been compromised by the TPDC claim and whilst we still have no income from KN1 nearly two years after the problem was first identified..... BUt that does not make it a good deal - just the ONLY deal. And who oversaw that slow decline? Our BoD that's who.

Did they have the foresight to see this coming and take alternative funding solutions when the options were available? NO! And yet they seem to think that 100 - 150% pay rises are more than justified.

I am glad you think that they have done such a good job at returning shareholder value. I am afraid I don't.

It would have to be a legitimate refusal by the TPDC.... who are you trying to kid?!

Is that a bit like the "legitimate" TPDC claim against the Ruvuma partners... the TPDC would be able to block anything they wanted to or make sure it takes an eternity by tying them up in red tape or find another financial impediment that makes it totally impracticable.....

As for a takeover? The Zubairs have the BOD in their pocket by. The BOD would never recommend a takeover to shareholders unless from the Zubairs themselves. In these circumstances the acquiring company would need (in most circumstances) 75% shareholder approval.... which is precisely why the Zubairs have 30% and precisely why I have been saying for years that this is a strategic stake resigned to ward off opportunistic predators...

However it is all pure conjecture because neither of three two eventualities is, or ever was, going to happen in my view...

Anyway goog night all, off to a party ?? !!

But BG any Farm-In would have to be approved by the TPDC anyway so if they did not want an alternative Farm-Out partner (and even operator) of Ruvuma License they are perfectly placed to stop it and, with 30% of the Aninex the Zubairs would be totally able to block any takeover attempt.... And that even presupposes that the BoD would recommend any takeover attempt to shareholders. They are more than likely to reject it; and if it went to a vote with ARA's 30%, Majedie 10%, BOD's own holdings 3% and Argo 5% they have it pretty much in the bag.

So matherdj are you suggesting that the TPDC and the Tanzanian govt are holding shareholders to ransom over the License, farm-out, fallacious claim and KN1 remediation sign off? Shame on you! Surely our relationship with them is beyond question?

Yes and maybe we were all born yesterday....?

I disagree that the EGM will de-risk anything to any meaningful extent - what is the risk of shareholders voting against the Farm-Out? None. Hence EGM is purely a formality.... It is like buying a ticket to the lottery; you are at least in with a shout of winning but the likelihood that you will get the numbers you need (License extension) hasn't improved materially...

I do agree on your second point though and I hope there is more news on KN1 and License extension at the EGM - these will be the only sp catalysts in my view; the actual vote is a non event. The market does not need the vote to know what the outcome will be and therefore, on it's own, will make no difference to the price in my view.

I disagree that the EGM will de-risk anythi9ng to any meaningful extent - what is the risk of shareholders voting against the Farm-Out? None! Hence EGM is purely a formality....

I do agree on your second point though and I hope there is more news on KN1 and License extension at the EGM - these will be the only sp catalysts in my view; the actual vote is a non event. The market does not need the vote to know what the outcome will be and therefore, on it's own, will make no difference to the price in my view.

I expect to be there VS, yes - 99% certain; only doubt concerns an unwell family member currently in Hospital....

I too expect and certainly hope all of the uncertainty that exists will gradually clear and the price inexorably rise as a consequence - the one doubt in my mind is, as per usual, the timing and we all know what happens here if the market is made to wait. Many have been advocating this share as a "buy now, it will never be as cheap again position" and look what has happened - all those that ignored them and have sat on there hands have saved themselves a load of money and there is no reason to change that tactic yet, in my view. Even with the EGM on the 4th; everyone and his auntie knows what the outcome of the EGM will be, so why will the sp start to move on the back of a forgone conclusion? Because everyone knows that the shareholder sign-off, by itself means nothing and now that the Farm-Out back stop date is 31st March and the C1 spud cannot now happen until April / May there is absolutely no reason for the TPDC or the Govt to rush the License extension through.

We could be here a while yet. And before anyone says it, yes it could be here in the week beginning 7th January too.

Let's hope so anyway ;0)

"We need new investors all the time, the low price,the geology and the potential could make an attractive punt."

Very true VS, it could also make some new investors very poor if we do not get the License extension that everything else relies upon.... Even if we get it (as I believe we will) but have to wait weeks for that approval the sp may well slide in the meantime.

So surely you can understand why some people may be sitting on the sidelines waiting for some of the inherent risk to evaporate before jumping in....? Yes, it may cost them a bit more but it may well be a price worth paying.

11.0p seems to be the watershed..... Lots of people in at 6 -7 p now taking their profit?!

Shortsighted? ;0)

Stick with it.

Yes indeed Steady Growth, exactly as u suggested last week; no-one around go approve the RNS.... the drilling might go on over Christmas but "Civil Servants" ? Not on your nelly....

Have a wonderful Christmas one and all.

But on the Monday 17th mk, it wasn't Christmas Eve..... Anyway however the cookie crumbles here's looking forward to the good news; whatsoever day it lands. :0)

Good luck all.

Is it not the case that all RNS's have to be approved before release? If so, is there going to be anyone around during Christmas week to approve it?

If you have a very large tranche of shares to sell you have to sell them into a rising market.... not wait until shortly before, or just after, the peak when everyone else is taking their profit otherwise you would collapse the share price.

It may even be that (one of) the MM's are warehousing a sizeable tranche and are dripping it out as they can.

"Licence is coming in January...." Brave words woodfromthetrees..... I hope it doesn't come back to haunt you (and the rest of us).

It depends on how long after the EGM and shareholder approval of the F/O that we receive the License Extension in my view: if we are still waiting in, say, late February then I can see it going lower. But the longer we wait the worse it will be.

I am however hoping that once the Tanzanian Gov't return from their recess on 7th January we won't have to wait too much longer. And if so then this should be at, or close to, the bottom. We may even get the 25 Dev License and then we may even see good improvement.

Sorry that it is all "ifs" and "buts" but then it always has been with this share and the Tanzanian authorities.

Anyway bye bye all and Good Luck.

"Have you noticed slowly but slowly most of those detractors favouring a Placing have/are changing opinion ?"

No Tanzania, that is a misrepresentation of the position in my view. As I said only a few days ago people haven't suddenly become supporters of the F/O offer they have simply accepted that there is no other option available and without a Farm-Out we are dead meat. That still doesn't make the deal we have been offered a good one; we have sold off $80 million a year's worth of income for $5 million and some credit..... Why have we done that? because our BoD have "managed" our company into a position where we are so short of cash that we need a "bail out" to keep the bailiff from the door. Well done BoD!

Yes the future looks better - better than abject collapse anyway - but we will still only have 25% of that upside and not the 75% that we once had and we have traded that for a pittance. So yes I am looking forward to the Farm-Out Tanzania but only because that is a better option than losing all of my, not inconsiderable, investment.

Did I ever think I shareholders would be forced into doing this in May of 2017? Not on your nelly. Did you?

But I do wish everyone here a fantastic Christmas and New year and let's hope that 2019 will, at least, be better than 2018 for all Aminex shareholders - even those (JB and BH) who have been responsible our demise ;0)

Merry Christmas one and all see you all in the New Year.

Oh and before you even suggest it - NO, I have not just "loaded up".....

Hurrah!

I would not argue one iota with that summary CP.

It is as compelling a piece of evidence of my trading my own book or any of your other maliciopus accusations as your interpretation of the recent figures in the circular addiing up to 5TCF - Drewky .