Member Info for randomaxe

Wow, we are literally arguing about how long is a piece of string now? This is what Aminex does to people! :)

"Aminex is currently funded and does not need further approval for the ongoing remedial work over Kiliwani (which includes well maintenance, fluid lifting and perforation) and it remains in the best interest of all parties to produce gas as quickly as possible".

That is meaningless because it's been going on years now and if it was in fact in everyones best interest it would of been fixed straight away.

"The Company has been assured by relevant government authorities that the extension is forthcoming and will update the markets once formalised".

Again, meaningless because they cannot provide any sort of timescale. When were the licenses and extensions submitted? That gives you your answer.

The rest are all about CH1, and until we get the approvals and farm out signed off that won't be happening.

Which email address do you use to get a reply?

I never said those questions on the FAQ's weren't material questions, it's the answers that are pure waffle. The BOD has never been accurate or honest with timescales, "it remains in the best interest of all parties to produce gas as quickly as possible" is meaningless, and is also laughable when as quickly as possible is apparently measured in years for KN1.

It seems pretty apparent that the Aminex BOD are powerless and have been for a LONG time, and all they are attempting to do with every update is kick the can down the road so they can keep taking ridiculous salaries for doing very little.

Ah i forgot about the action group aka the GR fan club, great work guys you've really reigned him in ha ha ha ha.

oh come on Drewky, "The point is here that there is no deceit in the company statement" that's because there's nothing concrete in the statement, as you've been told several times, the statements are meaningless! "Forthcoming" to most people means, imminent or about to happen, we're past that stage now given it was what 5 weeks ago or something that they first posted that?

Do you think they'll make the long stop date?

Lets just hope that if last day jay lives up to his name again, and those MM rascals keep lowering the price on low volume, that some people actually start buying them again otherwise we're looking at another 52 week low in the same year that the "transformational" farm out was announced.

Anyway, going round in circles again.

Tanzania, don't you think if Aminex were confident the licenses etc were 'forthcoming' in advance of the long stop date they'd of been better waiting to get that cash instead of more dilution leading to further drops in share price and more misery for lth?

I can't be the only one who thinks that is weird timing and indicates little confidence in meeting the long stop date?

Yeah I agree with you on the lack of volume Drewky, but we're not being 'toyed with' by MM's or anyone else, it's because of the complete lack of clarity or progress.

I think the fact the share price has sank to sub 1.5p again gives a pretty good indication of how the market feels about statements in Aminex’s highly regarded FAQ section of their website. It means nothing, they have zero say in when any these approvals/licenses/extensions come through, the FAQ section is an exercise in using as many words as possible to say nothing. Do we even know if the government were consulted in the extension day for the long stop or did they just wack a few more months on? I would hope that its these licenses and final farm out sign off that are holding the share price back otherwise we’ve all made a big mistake investing here, and calling it a “transformational” farm out would be a whopper of a lie, or highly ironic.

It really is, how is this the best strategy he came up with!?

Why are we buying anything when we have no money? Could we generate a profit at a single asset first? I think we've established that just continuously buying assets isn't a good business model!

Not much of an update and no mention of funding....on the plus side, not a placing...

If Aminex had handed over a fraction of the brown envelopes involved in brexit we'd of drilled CH1 by now and be producing the black stuff (hopefully)...

well it seems you're the only one who does, rest of the market is either confused, fed up of delays, or couldn't care less.

1.4p ffs. Can't even maintain the placing price...

And I'm not putting another penny in here, i need about a 100% rise to break even at the moment so i only one the share price to go in one direction, just cant see it happening any time soon

Drewk why don't you give counter arguments instead of grabbing for the tinfoil hat straight away? Do you not think theyd of waited 6 weeks max if they were confident of meeting the long stop date instead of a placing?

I don't think there's any chance of that date being met, they wouldn't of done the placing otherwise. What are they going to achieve at kiliwani or nyuni in the next 6 weeks?

Just double checked and I was wrong, from reading the farm out circular TPDC claim we owe $2.7 million, and withheld payments totalling almost $3 million.
Probably another reason for the placing last week, still, if they expect the license and sign off of farm out on or before the long stop date you'd think they'd just wait. Chances of aminex achieving anything on kiliiwani in the next 6 weeks are slim, to say the least.

I'll second that, fit?

What would they be paying us for? We aren't producing anything. They're saying we owe them cash still, and the zubs are taking no liability for it if the claim doesn't go away. I think its like £3mm so a fair wack of the initial payments we get after giving away ruvuma for peanuts in the "transformational" farm out announced what 7,8 months ago?!

All in all we're not in a great situation! Share price in the toilet and still about 6 weeks till long stop date.....

Yeah good point, was it 5% on kiliwani?

What do you mean a perfect fit for TPDC? They're talking about producing their own gas, why would that be good for aminex?