Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Probably due to the drastic drop in rigs working in america, that and the unknown production rates of WTI at the moment.
Cannot believe this is at 6p levels. My first buy was around 11p several years ago, never thought we'd see those levels again....never mind needing a nearly 100% rise to break even on that. Absolute shocker, gone from my best investment to my worst over the last 2 months. Well and truely in the bottom drawer now.....I'm hoping for a takeover, its the only hope of getting out of this shambles any time soon.
I think the issue is Aminex have previously indicated that they'd be ready to drill as soon as the farm out is completed, at least that was my understanding (and given the market reaction it seems to be the general consensus) and the the new CEO does an interview and doesn't mention anything other than its hopefully spudded in 9 months time.......not what you want to hear as we finally look like completing the worlds longest farm out.
Still, another box ticket today lets hope the TPDC finally pull their finger out without needing any more payments.
The farm out has been almost complete for donkeys. If any deal was almost done why not wait for it to actually be done instead of tagging on some speculation at the end of the interview? Can't see it myself, he's just another passenger on the gravy train until he actually delivers something, anything that provides value to shareholders.
JB was a bad interviewer but he was still better than the new guy, such a massively naive interview to give just when we're getting some confidence back in the share price. Back in the bottom drawer it goes for now...
Exactly, I remember RNS' from over a year ago talking about the contracts for drilling etc. Making out they've been really busy behind the scenes and then announcing the well should be drilled in 9 months time, that could be achieved if they were starting out from scratch just now. Was also surprised no mention of KN1 - we had a placing for what £2mm over a year ago to accelerate the remediation of KN1? Same old Aminex never fails to dissapoint.
I think it was the timescales, and the talk of a merger - I'll need to listen again but I found that a bit confusing, if we're fully funded to production why the talk of a merger? Typical useless PR from Aminex...
Been a mental week for #PREM. Have we any indications (other than the share price looks a bit leaky) that the EPO will be granted this week?
Another day like this and I'm in danger of breaking even after maybe 3 years of investing and averaging down from an original buy at around 0.8...
Definitely clears things up, got to wonder why they never included any of those details in the first RNS. They must be confident of progress soon to set those targets, hopefully we can hit the first one in the next couple of months.
Its worth a try at getting the numbers, the BOD are taking the ****. We've got a terrible deal in the farmout, that has taken literally years and still isnt completed, and now they're rewarding themselves. They've delivered nothing so far, we still don't know whats going on with KN1 but they've decided that they deserve to be rewarded? Greedy mofo's.
I've been invested in PREM for years and one word I wouldn't use to describe it is boring. If GR was going to close PREM and walk away with Circum or whatever then he would of done it a while ago, he's had plenty chances and has loaned money to PREM several times in the past. There's not much he can do while we wait for Zim government, and I say that as someone who has criticized him plenty in the past.
https://www.malcysblog.com/2020/04/oil-price-hurricane-aminex-solo-columbus/
Aminex
Aminex has announced that they have formally received extension of the Mtwara licence from the Ministry of Energy in Tanzania. This is one of the last remaining conditions required to close the farm-out to ARA which will lead to a $35m carry of its share and take the company to ‘material gas production in Tanzania’. This is a significant amount and for Aminex’s 25% WI the carry takes them to first gas and beyond.
This is a key milestone for the company for a ‘fabulous reserve base’ and is ‘pivotal’ giving a good line of sight for conditions precedent and direction of travel. It confirms recent views that the Government in Tanzania are taking a more positive line and that energy needs in the country are being taken seriously and this is moving this in the right direction.
The timing of this approval is important, it shows that the practice of renewing and extending licences annually is back in vogue and on a rolling basis. The ongoing work programme of 200km of 3D seismic, the Chikumbi-1 well and gas negotiations should be under way soon and I understand that ARA has already started on the preparation for the work programme. This encourages me that it won’t be long before a meaningful inroad has been made into the work to be done but no fixed dates are being offered as understandably the virus may delay things.
Aminex has announced that Robert Ambrose is stepping into the CEO role as the company prepare to be a slimmed down, right sized company as it passes over the operatorship. It is clear that a lot of good work has been done in recent months and the ground work in-country means that the company is well positioned for organic or inorganic growth and that there is approaching huge opportunities for consolidation in Tanzania and across pan-Africa. Cost reductions last year have been added to again this year and the company is lean and ready to move ahead.