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'according to the RNS of 25th. feb 2020 they have accepted'
Nothing in that rns to say it was officially accepted.
I totally disagree they can borrow against it.
Hi Jackpack
Apologies, I think I was confusing the nyuni license being taken off. I'd still be very suprised to see the receivables materialise anytime soon if at all, but that's just my thoughts.
CGT tax, not cut.
A couple of months later, the government (tax department) then demanded a 2.2 mil cut tax bill for the farmout when the proceeds from that were a loss vs expenditure. I believe (someone please shout if I'm wrong) that aminex have written off these receivables from the accounts.
Are you a fairly recent investor at the aminex party? You'll see quite a few statements in rns which although aren't untruths, do leave plenty of wriggle room. They did a raise to remediate KN1 a while ago. Didn't hear much progress there and at the time they needed money to keep the lights on which was more likely the reason.
Look back through the rns's of the past four years and see what's been achieved other than 3rd party reports (IO) and other bits related to ruvuma. Apparently they were rushed off their feet preparing the site to drill ch1 as soon after the farmout as possible, only for that yo be pushed to 2022.
I think you need to read between the lines more. I think most investors have written off the receivables, but would be more than happy if they did materialise.
Hi Jack, how long have they been owed that money? I think they even removed it from the financials (I may be wrong). How long have they talked about kn1 and ks? Nyuni? They've just reduced headcount which is a good thing, but doesn't indicate much in the way of activity. I think they are hankering down and obviously want to avoid dilution, but it looks inevitable that they will need to even if the current timelines hold. I'm guessing whatever value is lost will make it's way back to the zubairs (not Jubs). If they do get the receivables it would be a game changer.
I hope you are right Jack, but they will need to raise and you summed it up with:
'Remember our main shareholder is the zubs. Basically why borrow from someone else when you have other business's generating money '
What cost will that support be for pi's? The cards have been thrown in the air since the drill date moved from being asap to after seismic.
Its not it's.
25% more delusion is probably more apt (not APT). Its difficult to see this not being a torrid ride this year and what aex is left with once on it's own two feet is questionable. IMO ruvuma is the only game in town and talks of other tie ups and kn1 progress/receivables are just a sideshow. Not sure why they bother. Hunker down time and hope there's something left.
No 'marriage' then.
Nail on the head, Dunder.
I agree chris. What's the target date for that pipeline to be built? I have 2025 in my head but not sure.
'Needing the gas THIS time'.
They were last time AA. If a discovery is made then extensions should be given by default unless any contractual commitments have been missed. Hopefully the government are closer to needing the gas time and are themselves more committed.
But I do see indications as to the answer to that question. Again, imo.
'In reality, do you know anything about the company strategy and options? Probably not.'
I asked your question above back to you. Come on Bucks? Quite a big one for investors.
Bucks,I stated in my opinion several times and I ask your same question back to you? Any ideas? Probably not. Be specific on which bits and I might answer as to why I have concerns.
Ben, buys not boys.
Ben, why the misdemeanors with your 'boy's opinions?
Chris, if people purchasing today are fully funded for 3 drills and seismic, how does that balance off the dilution from 14% to 4%? Rough figures only, but you get my point. A genuine question and not a loaded poke.