Member Info for edgar222

Vike

Totally agree. But I would add Nyuni (which KN1 originally was carved out of). Farmdown it all. Let others buy in and spend the money while we have a free carry. Simples? I know its not very exciting but I believe the farmout works are transformational for Aminex and are about 8 months (seismic) to a year (CH1 plus 5 other drills) away

Ceo being interviewed by Malcy today.

In terms of turning the lights off I think this should be the plan. As low expenditure as possible and awaiting enormous (relative to mcap and actually) revenues. What I dont want is dilution of Ruvuma and expenditure for risky income (I include KN1 in that).

In terms of early production system, it was part of the farmout terms. I don't believe that it is optional but am unclear of the exact position and understand that we do not want to get legal on our partners!

Vike

It can be sooner by using N1 and 2 now. In an early production system. Early being the word.

Vike

Agree with your valuation post. Less so with your 3 years to Ntorya cash post. Early Production System was a headline of the farmout when announced. I have not given up on that yet!

Didn't say we could rely ;)

Only that its more likely than full merger with WEN

Aminex don't actually need to do anything but wait for production from Ntorya.

Fwiw I really dont think any of this is likely., though I don't rule out a farmout of Nyuni.More likely is repayment of money owed by Govt and AEX's funding issue re KN1 and area is solved.

"Please stick to the matter of valuation versus peers."

An irrelevant exercise.

Though I admit I indulge from time to time.

And what is your answer?

Asking for a friend. Cough.

Thanks BG had forgotten that.

Yup. There is no way around it. Back to back became 5 years.

Wondering what I have learned about shares via Aminex. A huge amount. I buy too early. But then if I had not spent the years buying I would not have the size of holding I do. I never had one lump sum to pile in at one time. Whether that is a good thing or not depends on what happens in 2022, of course. But I know that by then I will have even more shares. Cant let it remain under 1p post farmout without topping up.

Also 23m sound enormous to me for seismic and everything up to CH1, but not including that drill. But I dont really know what I am talking about. It is just off the scale compared to past figures. So full field drill plan and speedy interpretation of massive seismic data might explain that?

Is there any reason why the spudding of CH1 in January 2022 coul dnot be the start of the planned 6 well programme as opposed to one well?

Is that too soon after all that seismic(Summer 2021)?

BG

We might. You are probably right. Depends on Govt repaying KN1 debts. Reserves based lending an option and one I hope they go for rather than dilution. I suspect with cost trimmings and directors waiving fees etc it is not as much as we fear.

Vike

I don't agree BPC/CERP is a good model! Definitely was if you held BPC but CERP holders were shafted. And thats the problem. Aminex should not give anything away just for WEN's production when we have a carry to better production.

I trust that the BoD are more patient than posters here (thatis not a pop at Vike specifically!)

I would be against dilution of our Ruvuma interest.

I would be very attracted to WEN farming into Nyuni, as I think cperkin hinted at recently.

Would give WEN something exciting to do and would solve our funding gap.

I was as shocked by the delay to CH1 as anyone. Actively trying to look for positives, I have come up with the following.

Possible news of early production system. Mentioned in farmout announcement and plans but not since. Might this be being worked on?

The serious commitment of Ara to the field. As I understand it the $23m budgeted does not include CH1 drilling. Seismic to plan full field developent is obvious. Such expenditure and methodical planning really does support the 6-well plan towards fill field development.

The fact that Aminex could have done none of this on their own. The farmout saved us, as I think most now accept.

The potential newsflow from seismic is in this year and might be a real upside.

The hope that the longstop spud date is so that they can beat their own deadline and it might be earlier in reality. Only a hope. Not much evidence for that.

The delay on top of all the delays we have lived through is a killer.

Ultimately, the fundamentals remain for me and are getting better as plans unfold and I am not going anywhere.

Thank you everyone for the welcomes and info!

https://twitter.com/mgrahamwood/status/1330902390015397891?s=21

Just made my first purchase here. Been watching for a while and missed the .10p range.