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Oh bf. We understand the list is full of positives and are intelligent enough to know that nothing is set in stone but rather have looked at risk/reward and decided that the risk is worth taking What we don’t need is a load of negativity from some not even invested that appear at the slightest tick up to indulge us with their endless wisdom to save us from ourselves. Your concern is touching but I feel with so much to give your talents could be put to far more constructive use
5 TCF GIIP - for Ruvuma - Ntorya 1.9TCF GIIP - 368 BCF 1C - 763 BCF 2C & 1162 BCF 3C io commercialisation study est. $143m spend to recover 3/4 tcf based on current gas price, $3.27/mcf is worth $25m to $35m cashflow per annum to Aminex from 2020 to 2049” "Fully covered" FARM OUT - APT have committed to spending a possible $110milion on the full field development of the Ruvuma project which includes a committed spending of $40million to Aminex. $5m cash & balance $35million paid as full carry up to 40MMscf/d at which point any unspent remainder will be paid in cash from gas profits. APT will acquire 50% of the Ruvuma project with Aminex retaining 25%. Solo Oil hold the remaining 25% “APT will establish an early production system to achieve an accelerated first gas to a minimum a MINIMUM gross rate of 40MMscf/d by Qtr1 2020” representing full carry to minimum $10 to $12m p.a. cashflow “Not revenue – Free Cash” "Much more expected! Not worth building a 30Km pipeline for just 40MMscf/d" Adding the Solo share of costs $35m gives $140m total potential spend & brings full carry to profitability as per “io” projections "Any further spending will be self-generated" **“Chikumbi-1 well pad is complete - planning to drill this year” RIG TENDERING COMPLETE “Multiple Targets - Gas - Oil at the lower level - Oil shows found down dip at previous drill” “Planned around same time” APT will acquire 3D seismic data over 200km2 to optimise drilling targets Based on results of CH1 and 3D seismic APT will build a 33km pipeline to Mdimba gas plant to allow for maximum gas delivery “planned for 2019” “Q1 2020 Monetisation to coincide with demand call” “Plan” Drill CH1 alongside 3D & back with further 3 to 4 drills (possibly 2019) Full field development is projected to 140mmcfd by mid 2020’s **“Kiliwani remediation with income stream planned to resume 2018” WORK UNDERWAY AUGUST “FURTHER PERFERATION OF LOWER LEVEL EXPECTED FINAL QTR” Possible further drill at Kiliwani South Nyuni – Plans for 3D seismic Competitors running maximum capacity & demand forecast to outstrip supply 2019 **TPDC have announced feasibility study for gas pipeline to supply Uganda. UPDATE: AGREEMENT NOW SIGNED FOR CONSTRUCTION (Aminex in pole position to supply) **Pensions funds invest 20% more in Tanzanian business one year sparking further demand **SADC nations agreed to develop plan to allow gas imports from Tanzania, Mozambique & Namibia Malcy Comments “Bucket list status assured” "The Zubairs are putting $105m on the table, they wouldn't be doing this if they did not think it was worth a lot of money" ”It's in the bucket, it's for a good reason. The value of this asset is high!" Everyth
Dunder I agree with you and have posted previously on that matter. However in any relationship it would have been nice to have been properly compensated for what was delivered up to that point. As for been robbed and sleeping easy the old adage rings true Nothing would surprise me ;-)
Crusty I have always had doubts whether recently they could claim to be a going concern without some injections of capital The claim whether valid or not should not directly affect half year Accounts as can simply be referred to in a note to the Accounts whereby it can be disputed and that the management feel it is highly unlikely that it will come to pass What concerns me is that we are in limbo. With no income no EGM date then time causes everything to deteriorate.Although deal is binding unless not passed and that in itself could be disastrous there are so many questions unanswered. Why are we paying wages etc that will ultimately benefit Zubair?? Are they going to recompense Aminex for the time delay or why employees not moving over now Sorry could maybe be put better Bit rushed. All I know is that each day that passes until the deal is delivered has a detrimental effect on Aminex
On your basis Crusty then the share is approximately over valued by 25% which should mean a share price of around 1.27p corrected against NAV Although on paper that would be correct it fails to take into account the true value of what is in front. The board got screwed over. A fairer price with back costs and the transformational assets could have seen the deal being 100m valuation our share and by calculation a share price valuation 5x higher around 6.3p. All conjecture. Lies lies and statistics
Drewky that post of yours is really below the belt and should be retracted As far as I can see rx was making a reply to my reply to ghastly and was making a valid point. A little “tongue in cheek” I agree with the “cue the list” but hardly could it be considered a “ personal attack” As for the list it’s certainly fair to make the conclusion that it has done nothing to arrest the recent decline in the share price which is leaving genuine long term holders perplexed.
Thanks Rx and best of luck wherever you put your money.Hopefully there will be an opportunity to get back in when things are somewhat clearer here. I invested a house here and I’m down to the foundations and the odd wall ;-). In too deep now but wish I’d went with my gut on numerous occasions.