Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Unfortunately I don’t really agree with minor investors hassling board members (nor have any faith in their responding). So it’s here my spleen will vent...
I’ve held here since 2006 and whereas I’ve seen plenty of troubled waters, only now am I genuinely concerned for the company’s immediate solvency.
Let’s hope I’m wrong - though an inability to even acknowledge this as an issue by posters here I think speaks in itself.
Oh that’s alright then.
No interest in communication on travel to Tanzania to meet with people about conflict resolution?
Anyone worth their salt would be trying to convert that into a Skype meeting and communicating to that effect that they are working their proverbial off to assure financial stability for the company.
This not just about twiddling thumbs hoping for a licence to drop it is about the survival of the company.
How do we pay the 3 million back if we don’t get the PSA before June? You’re not going to raise cash in the markets - maybe some of the 300 billion put aside by the Chancellor?
You provide some fantastic research Chris and I’m surprised you don’t seem more concerned about the companies immediate future.
Amazing how this company has been steered towards an unreasonably risky binary bet and also pulled off the coup of making investors blame the Tanzanian government.
Yet as we face the greatest financial meltdown of a generation and companies, governments and pretty much everyone else communicate their strategy for COVID-19 there is absolute silence from Aminex.
I take your point but it looks like the market views the potential for impact as very real and very near - yes, pre-arranged visits to power plants were honoured yesterday, but preparations were also been made to protect citizens from the impact of COVID-19 (think I saw you Liked a Tweet about this?)
We ultimately want the same thing and I want to be wrong - but my current view is far from bullish - I think at best AEX will survive this with the market cap suppressed for a significant period and topping up now is maverick.
“Nothing is real” ... hmmm ... not sure I agree. The pandemic impact is very real I think the mechanism of government will likely shift towards that rather than signing our PSA. So then you have to consider what may happen at the end of June.
Even if it does get signed before June, you could read that as leaving us more exposed to a takeover as we have funding in place but a suppressed m-cap due to the market conditions? So maybe a traders stock but I’m no volatility player so for my circumstances I’m nowhere near ready to invest further atm.
Important to adapt to change though as the world is changing rapidly - I reserve the right to change my pov at any given!
Thank you for the level-headed engagement - it’s cool to have differing points of view with no vitriol :-)
I honestly couldn’t say Chris - but would you agree it can’t be ruled out?
I do not think people are grasping the wider socio-economic impact of this pandemic and throwing more money into a tinpot company like Aminex at the moment is just not sensible. Far better to hold on to what you have.
I pretty much got told to “shush” on this board a week or so ago, in case my cautionary post negatively impacted the price. It was the ultimate head in the sand point of view and the actual situation has turned out to be worse that I suggested with the share price halved.
I do think we are now in a place where Aminex is at risk of not existing in the form we once knew - what that exactly is I don’t know. But I don’t think for one minute it’s going to be good for shareholders.
Do you not see any risk to the agreements being signed as government shift resources into dealing with a pandemic?
Which puts the June date a risk which in turn jeopardises the farm out agreement. If I didn’t care about AEX share holders or investors and I’m hardly going to honour a farm out when I could buy the entire company and asset for less.
I’m waiting on the sidelines with interest - having moved my pension into a SIPP 3 weeks ago I have been lucky enough to find myself sitting on a pot of cash that was protected from the current crash (not so my ISA).
The wider market conditions plus the potential news flow from Aminex could present an excellent trade opportunity - but having held too many for too long the timing and price will have to be compelling for me to make it. Though I’m starting to think it is looking so cheap that waiting for new before buying would be sensible - inevitably will not call the bottom but even a 100% from here looks like a reasonable deal with the licence in place.
So it reads that the market is assigning negative value to Solo’s share of Ruvuma as the market cap is so low - assuming because if you buy Solo you also buy the cost commitment on an asset that is presently stranded (but which if you believe what you read on non mainstream press on the internet may not be for long).
Still think there’s an outside chance of making a killing here despite my continued cynical reading of this. There is a chance of historical market lows as Aminex releases v positive news - I think timing is the key and the discipline to walk away unless you’re confident the ducks are aligned. My concern is that news comes as downward pressure continues to be exerted on equities and CONOV-19 doesn’t look like even begun to take hold yet.
Solo’s entire market cap is only GBP6m at the moment so why bother?
Plus - what happens if Solo can’t sell it? Does anyone know details around the contract - wouldn’t it just revert to the other JV partners anyway?
“Best not to give bad news further coverage then Hardnose. Value of your shares going down etc.”
C’mon - that’s a pretty wild statement. Are you suggesting my occasions posts on a minor BB are going exacerbate the effect on a share price beyond the headlines hitting every press channel you care to read?
I can sit quite happily if a cautionary point of view prevents someone making a loss or invites a better entry point.
This is a discussion board and unless someone’s being personally offensive I don’t think trying to close down a point of view that doesn’t match ones own is helpful to anyone.
Not that I’m trying to close down yours ;-)
Hi BG - yep, for sure, but I don’t think we’ve seen the worst of it yet. I think there’s every chance of a media storm whipping up (further) panic selling and at that point AEX will start to go south as my funds and the wider market are already doing ... but will fall a lot harder.
Just my view...
Really? As the wider equity market quakes at the threat of a global pandemic you think Aminex is a safe haven?!
I appreciate the efforts that people put in here but I do think some of the analysis would benefit from taking a broader view - such as the distaste for oil and gas as an investment and what is happening in the wider markets.
I’m starting to read this as Aminex has miserably failed to capitalise on a near decade long bull run on equities and as it starts to show a glimmer of hope, the global economy is going to **** - with headlines appearing such as worst case 500k deaths in the UK these are things I don’t think it would be wise to ignore when making a decision to purchase shares in anything, not just Aminex.
Opinions make a market - I will not be buying anything atm - for that reason I hope my reading is wrong and you make your money back and more.
Hi,
Can anyone help - am I missing something as the TDPC website doesn’t appear as described in your post? Or has someone got hold of your login? ????
I’ve had a look at the TPDC website (https://tpdc.co.tz/) on my mobile and the only reference I see to Aminex is a small graphic in the partners section at the bottom of the home page (right next to Afren - a company de-listed and taken into administration a long while ago).
Further, the latest upload is dated September 2019 and the latest news March 2019.
FTSE has also just had its worst week in years so it’s not surprising there are outflows from funds and reduction in equities for safer securities. It would be interesting to see Majedie’s AUM over the past to get a feeling for whether this is a targeted reduction in AEX air a wider selling down.
Having been invested since 2006 I would like more than most to be proved absolutely wrong and to kick things off with an Old Fashioned, to be followed by sea bass and a decent Albariño.
Everything crossed but the weight of expectation is difficult to shift.
Was it not posted here that in the spirit of cost saving, there is currently no rush to find a new CEO? I think it was for a report someone posted who attended the AGM. Sorry to be vague..
Also interested as to why people think we’re close to receiving the licence - have I missed something?
One of the v helpful articles shared below states “the team is looking at financial and economic modelling used in the PSAs to determine the best for the country”. To me, this doesn’t sound like a quick process - modelling economic terms on a national scale sounds a) complex and b) bound by process, approvals and beurocracy.