Member Info for TarryBreeks

What did you expect DS to do egg? They ditched Sandabel quickly when it became clear they were forward selling. AAOG needed cash to complete the well they found another funding source quickly and funding is no longer a concern. In many respects a placing could/should have been the first option, however it's always easy to make observations in hindsight. Director options kick in at 20p, that should give you confidence that the BOD are very keen to grow the company. And let's not forget this well has already found greater payzones than expected. Eyes on the Djeno prize ;)

Beat me to it gmcc.

"So no one has been able to reach David? I tried but got nothing!" JayP Given the manipulation that's taken place so far, the placing leak and the number of flighty PIs is not all that's surprising DS is maintaining radio silence. Although perhaps ironically this may also be negatively affecting sentiment. News on the license and timescales on R1/R2 water injection would be very welcome as we wait to reach the Djeno horizon.

Did you book a flight specifically for the RNS Paul? That's a level of commitment you just don't get with other shares ;) GLA

I think the most interesting and arguably important point DS made in his interview was the drill results matching, near perfectly, the geological model. This raises the COS for additional horizons in particular Djeno but also wildcard Vanji. Very exciting.

That's the news we're all waiting for stockdale. I'd like to think we'll have an update on our major Cobre soon. They have been paying a retainer all this time and the client would only have entered this arrangement if they were confident of successfully resuming deliveries of magnetite. If they pull out I believe we keep the cash and the magnetite they have paid for so in my opinion if they're not quite ready at the end of this period there will be a negotiated minor extension to the current arrangement. Of course the situation at Cobre highlights the importance of a secondary/primary income stream at LCCM with production due this year!

Nice to finally see a rise/clawback here, I hope there is a substance to it. Can't see the license extension being announced today given the government is in recess but a nod & wink at the EGM would be welcome.

Tragic news Keith; as a father of 3 young boys I can't imagine going through this. My heart goes out to friends and family of Jack.

"with little to stop us." Well except for mother nature which is likely to mean any drill spud taking place after the rainy season i.e. May 2019. Also lack of funds might hamper things somewhat since we have none and, as it stands, no income. Also extremely high overheads (BOD remuneration) given what has been delivered. We're also in dispute with TPDC so depends whether that actually goes away or not and whether we are issued a license extension. Some say a formality - I guess we'll see. Apart from all that there is little to stop us.

I see what you mean BlackGold: At the next AGM we will all go to the pub (should BlackGold offer to buy everyone's drinks all night) we will all have a few drinks. TarryBreeks would like a bottle of Joker IPA (which will be bought by BlackGold as part of his free drinks offer).

Once the farm-out has taken place all that's needed is to be is passive. That's rather the BOD intention isn't it: pass responsibility for Ruvuma to the Zubair Corporation and hope they honour the deal?

Well said trout, I complete agree: JP, AB & PW all come across very well in interviews. With many projects all with many moving parts it stands to reason that some timescales may be fluid especially with our major client at Cobre. That said the BOD are very good at explaining what is happening and in the case of Cobre protecting our cash position. Looking forward to the BOD hitting several of their option strike prices this year.

And yet they've done it anyway cperkin. So ....

Possibly BG but in that case what have the BOD been doing since submitting the Development Plan in September 2017? Presumably the farm-out discussions had taken place before announcement to the market and given nothing can happen without the Tanzanian Government approval discussion must have included officials. So we really haven't achieved anything tangible since September 2017 and are unlikely to drill CH1 until May 2019. Some will of course be delighted with progress and be championing huge payrises for the exemplary BOD, unfortunately for the rest of us we have seen our investment tumble in value with a BOD high on their own self importance rewarding themselves like kings for something achieved in early 2017. I hope 2019 proves to be a significant improvement on the past 18 months. We have a long long way to go until many are at break even let alone profit. Happy New Year to you all when it comes.

BG you say "don't be such a drama queen Crusty, I would say, as far as the Tanzanian Gov/Zubair's are concerned is, that once the Aminex EGM vote is done then that fulfills Aminex's legal commitment or obligation towards ratifying the F/O deal and then the TPDC/Zubair's have us in their bag. then I can see no reason that will benefit the Tanzanian Gov by not issuing the License Extension and and allowing the Farm-Out ect ASAP." So why did we have to wait for 6 months between the 'transformational' farm-out and EGM?

Try this wraith https://goo.gl/MTYL4f LSE blocks vox markets URLs so you can just use a URL shortener e.g https://goo.gl etc. :)

Try this for the q&a podcast https://goo.gl/qwX3xH

So if you "know for a fact" the BOD read these boards Drewky they should be aware at the strength of feeling towards their remuneration in respect to what they have delivered since summer 2017: a ~80% decline in sp/mc, loss of all income and expiry of Mtwara licence. No negative spin there - just the facts. As you seem to have their ear can you tell us if they feel no shame at taking such an unwarranted fixed remuneration? Perhaps you could suggest to them that their remuneration should be related to performance??

Agreed Crusty; Mtwara licence is the only short term factor that will reduce (not remove) risk at Ruvuma until the farm-out is cast in stone IMO. Given we have no license extension at the time of the EGM I don't understand why we've had to wait 6 months for a shareholder vote since announcement of the deal. What material development has taken place in this time? Nothing. Kiliwani production would help with cashflow and reduce risk of placing/fundraising although we have had to wait nearly 2 years for even a snippet of news on remediation. And we are still in dispute with the government over payments; having only managed to replace a valve at Kiliwani as far as we have been told. This is a positive step but simply takes us back to the position we were in before the well was shut in over a year ago. Very happy to welcome positive developments; when they actually start taking place.

I am not jumping anywhere (yet) Tanzania and if I do jump anywhere rest assured it will not be to any investment in Tanzania of that I can unequivocally assure you. Voting for the Zubair deal on the 4th is only one part of the farm-out process. It needs the Mtwara licence and Zubair Corporation to also ratify the deal. Don't forget that we're paying for the farm-out with 50% of Ruvuma for $5m and a $35m IOU. The Wentworth position now, somewhat amazingly given where we were in 2017, now looks considerably better than it did back then especially with a LSE listing. Rather than financially 'worry free' we will still have considerable financial concerns, how do we fund Nyuni seismic commitments and Kiliwani South? We'll have $5m pocket money which the BOD will burn through in a few years of remuneration alone. I seriously hope 2019 will prove to be better for Aminex and I also hope LTHs will get their money back. However just consider that for a moment we've gone from Ntorya 2 highs to now genuinely and seriously looking down the barrel of insolvency if the farm-out deal doesn't go through... and who is responsible for that? This is your money for your children and their children and it's been whittled away with unreasonable remuneration and interminable delays. Webmoor never got to see his pot of gold and for that I am desperately sad. I hope (and that's all I've got left) that 2019 will signal a change of fortune for long suffering Aminex shareholders.