Member Info for TarryBreeks

The EGM is contingent on the farm-out and the farm-out is contingent on the licence and the licence is contingent on the Tanzanian Government so who knows.

Our BOD strategy seems to be: pluck a far-future date out the air and then hope that everything is signed off by then ...... except the far-future date isn't so far future any more.

Hope we don't miss another self-imposed deadline.

I've been thinking that since May 2017 randomaxe

Aircore testing photos on Twitter: https://twitter.com/SML_Minerals/status/1054273296823476225?s=19

Difficult to remain positive while we're considerably under the shareprice from when this 'transformational' farmout was announced ... and have fallen regularly since. Our only source of income has been dormant for a year. We can't even call ourselves "debt free producers" on our website because we're not producing anything. You said yourself you would remain silent if the valve hadn't been replaced in the first week of October. At least I am consistent :) The BOD need to get their snouts out the trough and get moving on Kiliwani we will need the money to pay their wages until, at some point in the future, production starts at Ruvuma. I hope we get news next week but just in case I won't hold my breath. It's far more likely to be at the last possible minute (mid-November) if it comes in November at all.

Oh I didn't start off having little faith in the BOD Drewky, in fact quite the opposite. I've just become jaded by the persistent delays. Wonder how that valve replacement is going? You know the one that was going to take a few days at the start of September? The BOD have lost respect over time by delays and unwarranted pay rises. Testament to the is the diminishing group of LTHs who have moved on. The only facts that matter are: when will the license be awarded, what will the licence cover and when we spud CH1. Finally I'm not going to trawl through links to find you some reference. I expect you'll see the as some sort of victory but the bottom line is that anyone holding here longer than a few weeks will be in the red and the only people to blame for that are our own bod.

I, like many on here, have been let down consistently by our BOD with delay upon delay and many false dawns culminating in a significantly below par farmout and IMO significantly unwarranted and above performance self-awarded pay rises to the BOD. The BOD have mismanaged Kiliwani and backed us into a corner for the Zubair Corporation to reap rewards from Ruvuma. I keep asking myself when oh when will I see a return on my investment? Why am I still here? I had faith the BOD would deliver in the promise to drill NT3 back-to-back. I believed the BOD had the best interests of Pi's at heart. I believed we would be much further on and the "simple fix" at Kiliwani would not have taken 2 years and counting to resolve. More fool me. I just hope that the November deadline, like so many Aminex deadlines, does not slip.

I wonder if the basin model they spent so long working on was put together by the same people and CPR author who missed the additional target at Kiliwani for 10 years?

Nice post Edgar. Just a few small points: Kiliwani the valve is not the cause of the pressure issues but rather an outcome of being left dormant for nearly a year: as a result of those issues. We have a carry to $40m of $110m total spend not a carry of $110m (this one is quite important IMO). It's also not free: we're paying for it with our share of Ruvuma.

If it's a record it'll be a broken record when we get news on Cobre ;)

Agreed Crusty. I hold in the hope that we find oil and/or that our now 25% of Ruvuma brings a sp of up to 10p. We need to get a move on though: I hope we hit the ground running once the Mtwara license is approved.

It may have been updated on the website but it was always previously stated that the farmout would be concluded before the end of November 2018. It could not be concluded without the EGM and subsequent vote taking place and that requires a statutory 2 weeks notice so I would expect the circular to arrive mid November at the latest. Leaving it to the last minute again or even allowing the self imposed deadline to slip would not be welcome at all. Hopefully we will have a positive update next week. LTHs have all been waiting for long enough. Good entry point for new holders.

Agreed, they could have done with smiling for the camera though :)

Welcome rise today, let's hope it's backed up by some concrete news on Ruvuma/Kiliwani. We're still a fair amount below the sp when the farmout deal was announced so even a 30% rise, while very welcome, is still well below many LTH averages. More of the same for a few more days followed by a licence award and spud date for CH1 would be very welcome.

That's more like it! Just had a pint, wonder if that's related to the sp rise?! Might have another to test that theory out ;)

I'm on holiday. I'm not trying to knock the sp, just trying to get an ROI and like many increasingly frustrated. Also, you *may* be aware but you and cperkin are listed on the top 100 rampers list: http://www.pumpedordumped.com/rampchecker/rampchecktopramper.php 35 & 54 respectively. Congratulations, I think?

Dear oh dear, 1.48p and not a peep from the BOD. No updates on Kiliwani which should be independent to Ruvuma. No update on the EGM. No word on the licence. It's starting to feel like a Tory Brexit: brinkmanship to the 11th hour. I just hope that the Aminex deal/drill works out better than the direction Brexit is heading. Tick tock

Killer whales are not whales: they are the largest member of the dolphin family and called killer whales not because they are whales but because they kill whales. Just FYI ;)

Good news, that should give us enough time to figure out how to open up this valve at Kiliwani. Have they found the WD40 yet? Might ask them to put that in the FAQs.

Delays have come at the decimation of the Aminex share price and our cash reserves so while, if true, blackgold it may suit our BOD, Zubair Corporation and TPDC it most certainly does not suit the majority of Aminex shareholders. If anything it makes us more vulnerable to a reverse takeover by Zubair Corporation - that may still come hot off the licence award.

Yep, further details on NAE board changes here https://www.proactiveinvestors.co.uk/companies/news/207027/new-age-exploration-makes-changes-to-the-board-and-management-207027.html. Thanks for flagging this up Cornish.