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I can certainly say this random. Which part of Aminex that was technically bankrupt with no source of income was it that you keep harking back to. Yes we would all have liked Aminex to monetise the asset on their own but the stark reality was that it wasn’t happening I’m really happy and confident with my investment now. I may have to wait for my exit point but at least I’m no longer waiting to hear that my investment is worth NOTHING NADA ZILCH which without this deal was a foregone conclusion
Ha ha was thinking about the same yesterday and couldn’t believe the total negativity about this deal. Looking forward when income could be £35m p.a. For a period of some 30 years solely from our share of Ruvuma then the mind boggles.
I know on the surface it wasn’t what we wanted by a long chalk but let’s be realistic. We could have ended up with nothing or have been waiting years for a decent return. This way we should see the investment monetised fairly rapidly with the aid of a company with very deep pockets and very influential in Tanzania To me it’s a win win for both partners and for the shareholders
Certainly hoping that many more will be tempted to buy shares for the medium to long term. The massive boost to the security of this share with free carry to production surely will nullify attempts to short this and enable investors to invest with confidence
For the last 18 months although hopeful of upside there was plenty of scope to the downside which ultimately happened From here on in I can no longer see any downside rather steady growth and possibly even rapid growth based on fundamentals and Zubs capacity to deliver.
It’s a wee bit like the guy who complains he lost a pound when he found a tenner Now that the market is starting to realise what this ultimately means then I think that we should be looking forward not back
It’s very assumptive they haven’t done anything TB. We don’t know how much their hands have been tied. Deserve every penny in my book for giving Aminex and shareholders a future which isn’t built on quicksand. We may have diluted and drilled a doughnut. Where would we be then?? Too many people believed the pipe dream rather thand understood the harsh realities You say we gave away half. It was in fact 2/3 of our share. Now if I gave away 2/3rd of anything I’d expect to have less. The share price has remained relatively unchanged
For goodness sake let’s cut them some slack We have no idea why back to back drills never went ahead or why remediation on KN1 hasn’t taken place. All I can see is that without licences and without diluting the Crown Jewels one way or the other sadly Aminex would have died a slow death Now we are sitting on country changing assets with a free carry to production. I for one am delighted that my investment has a solid grounding now that should make for a handsome return Talk of a shareholder action group is in my opinion a knee jerk reaction to information we don’t have and can only further deter genuine investors having confidence going forward Give them a break. In hindsight they may just have saved your bacon
I would say in your defence Drewky that you allow yourself only to look at the positives and could see the huge potential of the huge reserves we have. Without looking at the big picture and the very precarious situation Aminex were in financially you allowed yourself to paint the picture and the ending you personally envisaged Fundamentally you were giving a very one sided narrative. It is only NOW that Aminex is secure and can look forward to growth All the best
Everyone that is bleating about how poor this deal is is frankly way off the mark.Zubair have opted to allow us to stay in business rather than allowing us to go bust. Before yesterday there was no way possible for Aminex to monetise the assets without huge dilution and I’m sure the Tanzanian govt were very likely unhappy at the precarious nature of the situation. With the Zubs in the driving seat now I’d see things moving rapidly forward. Our share price is same as before the deal so in a manner after giving away 2/3 of our asset it has not changed. That suggests the market actually endorses the deal Secondly as suggested KN1 should be close to remediation and this allows Aminex to pursue KS1 further enhancing cash flow and value In the meantime Ruvama will be monetised and developed rapidly unlike the snails pace that would have been likely
Not so long ago I posted that Aminex were technically bankrupt with Accounts showing the real threat that going forward serious questions had to be answered whether or not we could be classed as a going concern. Furthermore with little income coming from our sole income stream KN1 then it was unlikely we could fund CH1 without further funding No sensible loan would have available because no loan Co would lend without due diligence being done and in our case with no income to make repayments then it wasn’t happening. Secondly although COS is likely high it is not guaranteed that CH1 would be a success. Any manner of problems could be encountered leaving loan Co up a creek without a paddle. We could have diluted but at sp then likely we would have diluted away just as big a part of our share bringing gas to market. 18 months ago was a different scenario which for reasons uncertain we never managed to move forward unfortunately which together with KN1 left us where we were up to yesterday........... basically bust with no income and no way to market Zubs has got in cheap but importantly has kept Aminex alive. With them in position I believe you will see the return you need in far quicker time and in time you may look back and be thankful that they kept us alive Much happier now as I look through where we are going and still believe we shall get our rewards. GL all
Well let’s hope the old adage “no news is good news” rings true. I can’t think of a more deserving group of shareholders that have been frustrated and had to continue to move timelines back repeatedly Surely next half of year should be our turn Let the games begin ;-)
To be fair he was a shareholder who would never allow anything untoward be said about Aminex. It still brings a chuckle that every downward movement in share price was clearly due to manipulation by the MMs. I’m afraid that when people only see positives when clearly there is a downside that needs looked into then they stop being believable However in saying everyone is entitled to their opinion and I would certainly add my vote to the “bring back CH” petition