Member Info for EarEyeAm

Not sure why this site is showing a price of 14.2p when ADVFN is showing 14.5p and the Uncrossing Trade that produces the closing price is also 14.5p. Up 7.81%.

LaryLoungeLizard,

There's no way they've moved the Ammonia Cracker Pilot Plant to Dunsfold. Look at the size and complexity of it.

https://www.afcenergy.com/news/press-releases/afc-energy-announces-first-ever-international-uk-ammonia-cracking-demonstration/

The RNS states quite clearly "Having made significant progress over the last 12 months developing our market-leading decentralised ammonia cracker and fuel cell generator products for commercial deployment", which means visitors will see the NEW Ammonia Cracker that will be deployed alongside the Fuel Cells., the one that's been developed over the past 12 months. The original Ammonia Cracker Pilot Plant was built in 2023 and has not been developed over the past 12 months.

The NEW Ammonia Crackers can be seen on https://www.hyamtec.com/blog

It's not appearing yet in the portal, maybe only appears after the 14 days?

https://va.mite.gov.it/en-GB/Ricerca/Via

Https://www.thecitizen.co.tz/tanzania/oped/tanzania-s-42-billion-lng-test-why-law-not-gas-will-decide-our-energy-future-5351878

Yes, clearly states RETAIL, for those that skim read everything.

"Having made significant progress over the last 12 months developing our market-leading decentralised ammonia cracker and fuel cell generator products for commercial deployment, AFC Energy is offering RETAIL investors an opportunity to attend an equipment demonstration event."

What the clowns either don't know or won't say, is that retail investor days are ALWAYS preceded by institutional investor days.

The way it actually works is that an institutional investor day is set up and, because everything is then set up for visitors, the company lets retail investors have a look the following day.

People who can't go will hopefully be able to see what went on in company media updates during the day.

As for sales, clients on the list will have already been for their visits, they don't do II and retail visits before client visits.

Well no bad news, that all that matters, because if there's no bad news then it's all still on.

The troll returns, thus proving that it's lying, because if it was telling the truth it would have no reason to visit here.

I already filtered it earlier though, as I only read posts from truthful honest people, I only know it's here because I can see it's name on the thread.

Best to filter it rather than read lies and waste energy responding to it.

I'll take 118.5!!

So, how far undervalued is Zenith Energy and how much will it be undervalued by year end?

Right now:

From the last financial report, Net Assets were £65.63m. That did not include the Solar Portfolio as that was only valued (independently) more recently. So adding the value of the 120.5MW Solar portfolio, Zenith Energy is worth about £91.63m in a fire sale. At the current Market Capitalisation of £24.34m it is 73.5% below it's Net Assets, with no value whatsoever factored in for 'the business', or the $10m from ICC-1, or the other two Arbitrations, or the $1.15bn worth of Uranium.

Year end:

Net Assets circa £65.63m plus:

Solar of 200MW, some parks constructed and producing revenues, potentially up for sale for a decent quick profit. All Solar projects will have progressed in some way. Could be valued at circa £150m+ by then.

Either an early settlement from Tunisia for ICSID plus the money won in ICC-1 plus something for the claims in ICC-2, or a decision from the ICSID claim plus a decision on ICC-2 annulment and new hearing, plus securing the cash won in ICC-1. There could be a huge amount of cash in the bank from this.

The Uranium project approved and the JORC equivalent compliant resource figure in the bag of very close, this figure allows the $1.15bn+ of Uranium to become an asset and secure project funding, probably split off then into a subsidiary that will organise it's own funding to get the mine up and running.

So combined assets could be over £500m by year end. When you see the current valuation is only £23.23m, that list is a share price multiplier, we should be looking at 5x to 12x by year end.

They say they can't wait for Ratification, they are in desperate need. The right thing for the Government to do is to put the Ewoyaa Agreement on an Urgent Certificate so that it passes in one day, that is the only way to fix it so that the 1000 people don't have to 'wait' for Ratification. Once Ratification is received, Atlantic Lithium will immediately pay out the compensation.

https://mobile.ghanaweb.com/blogs/dckwamekwakye/Irate-residents-affected-by-Ewoyaa-Lithium-Project-to-sue-Atlantic-Mining-Company-for-damages-16120

16p.

Ratification within 10 trading days I think, could be done on a 1 day emergency certificate based on the 1000 people that NEED their compensation URGENTLY.

Seems the CEO agrees with what I posted anyway, based on what he said in his interview today.

So we won't be seeing buried_treasure here ever again then? Or will they keep coming here to give us the benefit of their baseless nonsense analysis?

What a load of 💩 they talk.

Northern Graphite and Obeikan to develop battery anode material plant in Saudi Arabia

https://chargedevs.com/newswire/northern-graphite-and-obeikan-to-develop-battery-anode-material-plant-in-saudi-arabia/

The thing to remember is that Zenith are only claiming recompense for revenues lost due to the actions of the Tunisian Government, these are real, tangible things that loss adjusters can calculate. Loss of Oil sales, loss of revenue from Oil that the Government has sold, loss of assets, etc.

There's no monetary claim for "breach of fair and equitable treatment, lack of transparency, and effective deprivation of economic rights.", that all comes under 'punitive damages' and is left to the discretion of the court to add on anything it deems appropriate for that side of things.

Manx71,

Oh for sure sell a load of Gold when the price goes stupidly high. My question was more around their hoarding Gold way more than most other countries, over 40% of their reserves held in Gold just worked out lucky for them, it could (with the madman running the USA) have just as easily plummeted if the market had decided to dump Gold and buy Oil, Crypto, Equites or anything else, that's why most countries don't go above 20% of their reserves being Gold. It's a very risky way to run the finances of a country to bet 40% on one thing, whatever that thing might be, as shown by other countries only betting 20% of one thing.

Post from the Norway Forum (not mine, but thanks to TheLondonOiler for the info)

TheLondonOiler

February 6, 09:50

https://www.facebook.com/share/v/1DNR5k4c6P/?mibextid=wwXIfr

I managed to translate this video clip, and what is now being openly discussed inside Tunisia about the oil and gas sector points to systemic mismanagement and corruption within ETAP and the Ministry of Industry, not isolated errors. The allegations describe opaque licensing, lack of oversight, undocumented production, preferential treatment of foreign operators, and a situation where Tunisia reportedly has over a thousand wells yet the state sees little to no revenue. This is being said domestically, in Arabic, and aimed at accountability within Tunisia itself.

This context is highly relevant to the ongoing ICSID arbitration brought by Zenith Energy against Tunisia and ETAP. Arbitrators will assess whether Tunisia provided a stable, transparent, and lawful investment environment. Public allegations of restricted access to fields, missing production data, selective enforcement of rules, unexplained ETAP debt, and even destruction of internal records directly undermine any claim that the system functioned in good faith.

For Zenith, this supports key legal points: breach of fair and equitable treatment, lack of transparency, and effective deprivation of economic rights. It strengthens the argument that Zenith’s losses were not accidental but flowed from a structurally compromised institutional framework. When a state’s own critics describe its oil sector as opaque and shielded from audit, it becomes much harder for that state to argue credibility before an ICSID tribunal. In that light, a damages claim of around USD 573 million appears far more defensible than aggressive.

How much will a 200MW Solar Portfolio be worth?

Bear in mind that the plan is to use non-dilutive bank loans to develop the projects. A buyer of the portfolio or regional blocks of it would be able to take over these loans or get their own replacements from their own financiers, as nobody ties up their own cash in projects like this, they all use loans.

Here's a recent sale of a 207-MWac/248-MWdc solar portfolio in Italy, with EDP receiving €300m for it's 71.3% owned subsidiary.

https://edp.com/en/investors/investor-information/market-notifications/edp-completes-asset-rotation-deal-207-mwac

And in the RNS of 2 February we were advised "We believe we can reach a portfolio of 200MWp by the end of 2026", so the above sale is very useful to see what that would be worth if developed, €300m being 71.3% makes the portfolio worth €420.75m which is £365.48m which is 15.42x the current Market Cap of Zenith Energy.

Around £2.1m per MW, so if they developed 50MW of the current 120.5MW, that would be worth £105m or 4.43x the current Market Cap of Zenith Energy.

And Zenith Energy will be paying dividends on it's power production because it doesn't need to reinvest all of the revenues into projects, it will continue to use bank loans for further projects.

That is why Zenith Energy is a good company to invest in, you get a profitable company, you get the existing stable Italy Gas/Electric, the upside from Solar, the upside from Uranium and the potential for a massive windfall from the Arbitrations.

As for valuation, pence per share is meaningless as a way to express a future forecast for a company, only a trader looking at a chart would use pence per share, that's not how companies are valued, they are valued by Market Capitalisation.

So what Market Capitalisation will Aminex reach on:

1) Pipeline completion

2) First Gas into the pipeline

3) First Commercial Gas sales and revenues from NT-2 which can hit 17mmscfd "During testing, the well produced approximately 17 million cubic feet per day (MMSCF/d) of gas."?

4) After those three milestones, the next level of upside is waiting on the results of CH-1 (as NT-1 workover is happening after CH-1 drilling).

Below you can see the Market Cap and how many Pence that translates to and everyone will have their own idea on what Market Cap AEX will reach at each milestone, then see how many pence per share their stock would be worth.

Price Market Cap

£0.02 £89.40 m

£0.03 £111.75 m

£0.03 £134.10 m

£0.04 £156.45 m

£0.04 £178.80 m

£0.05 £201.15 m

£0.05 £223.50 m

£0.06 £245.85 m

£0.06 £268.20 m

£0.07 £290.55 m

£0.07 £312.90 m

£0.08 £335.25 m

£0.08 £357.60 m

£0.09 £379.95 m

£0.09 £402.30 m

£0.10 £424.65 m

£0.10 £447.00 m

FTP,

"what happened to the January drill that was being ramped incessantly back in the summer when the official sources have always suggested the summer."

It would have happened in January IF ARA wanted to get CH-1 finished in time to connect it to the pipeline shortly after the pipeline was finished in July, that was a perfectly reasonable POSSIBILITY at the time and nobody was ramping that, all they were saying was that it was A POSSIBILITY, which it was. Hindsight is a wonderful thing, and obviously gives people the opportunity to spin it to suit the narrative that they want to purvey after the fact.

Now we KNOW the FACTS we can LOOK FORWARD again, as there is no value in looking backwards, nobody has a time machine to go back and make a different bet and my guess is that nobody is really truly interested in what was said when or by whom.

Focusing on the here and now:

1) ARA have a shortlist of Rig Tenders to scrutinise under the microscope.

2) How long it will take them to do this is a complete unknown, as there is no precedent for how long ARA, specifically, take to do this.

3) Once the Rig is selected there are questions of a) where it is now b) when it will be available for ARA to use it c) How long it will take to ship it to Ntorya

That's why I'm also being cautious with further cash until I see from ARA precisely when they will get the Rig to Ntorya and Spud CH-1. It's definitely going to be later this year, but COULD POSSIBLY slip into end of year or even January 2027. To me that is going to be the biggest factor that determines how high AEX stock goes this year.