Member Info for matherdj

What's you view on the CoS ozzy? Crossing the road is a flippant comparison.

But he didn't mention that all of that takes funding and is high risk.

Weather patterns change across the globe. Global warming is across the 'globe'. Not that hard to grasp.

Oh and yes - if the get the receivables it's a different game.

When the drill was asap after the farmout, there was still cash till maybe April. There seemed to be a way (by drill/spud) to get a market cap big enough to raise enough to get to production. As soon as the drill was moved to q1 2022, they were clipped at the knees. Other than ruvuma, the assets have little value at present so no farm-in there. Only interest on loans (if lucky) or dilution of ruvuma seem like options imo. They risked $5m cash for 50% previously. I know that is painting it ultra negative, but it is what's happened so far.

Tanzania, see here https://www.lse.co.uk/rns/AEX/ruvuma-licence-extension-granted-dfdvdbo7dvtru40.html

Totally agree re Malcy. Also on aminex coming out and outlining what the strategy is now moving forward. IMO the plan is to hunker down and that's not a bad thing long term. Probably not the best message to put out there though. What doesn't help though for PIs are the constant carrots in the rns, the latest one being that this reduction of the BoD is part of other initiatives. Maybe I will be suprised and the will announce some progress other than that related to the ruvuma work programme. I just dont think they have the means to currently.

The comment about paid PR is a dig at Malcy.

'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.

You can lead a horse to water........

Nail on the head, Dunder.