Member Info for TarryBreeks

From Twitter: #SML Directors Alan Broome & Jeff Harrison currently at our Cobre Magnetite operation in New Mexico conducting a safety audit & reviewing progress at our SMG subsidiary https://t.co/lgCkYWKU0a https://twitter.com/SML_Minerals/status/1051733598406107137?s=19

The untested zone at Kiliwani doesn't sit all that well with me blackgold. It was seemingly missed by the original drilling team and post well analysis. Then missed by 2 CPRs. Missed by the board's own internal review and then miraculously discovered in August. That doesn't sit quite right with me. However given we now do know about it I'd like us / TPDC to get fingers out and get production approved & restarted.

That doesn't explain Kiliwani though blackgold and given we submitted the development plan for Ruvuma over a year ago they've had plenty of time to work out how to protect the Tanzanian people. We've know about Kiliwani issues for ~2 years and were no further forward it seems and in many respects worse off in relation to Kiliwani. So much so in fact that Bounty decided to abandon their stake.

Yes cperkin & Drewky in an ideal world I would agree get Kiliwani and Ruvuma up and running first. Hopefully that will happen soon. That said at what point do we make a move? We really need to get out from under the Tanzanian government shadow and diversify, the sooner the better. What if we are delayed by another 6 months? All our eggs are in the Tanzanian basket and we're being hamstrung because of it.

Cash is needed to expand outside Tanzania and personally I would support that. If we are being consistently prevented from progressing any of our projects we need to explore opportunities outside Tanzania. That was one remit we expanded team that has failed to materialise I suspect due to lack of funds itself due to lack of progress at Kiliwani.

I certainly don't want to fall out with anyone. In many respects I need your unflappable positivity Drewky because while on most other stocks I can be objective Aminex has become personal/emotional for me. It was one of the first I invested in 8 years ago. Perhaps the BOD do have their hands tied but ultimately they are in charge and while we cannot and would not want to know all the machinations of Tanzanian government proceedings and approval hurdles I do feel we are kept in the dark more than we should be. I disagree on Kiliwani being a red herring: if we're not allowed/trusted on such a small component of gas infrastructure that must translate to Ruvuma. Sometimes new management can bring a whole new approach and goodwill. Just look at Solo. Despite much of the groundwork being laid by NR it is the new BOD who are getting praise and bringing new hope to shareholders.

I'm sitting in a paper loss boat too gmcc. Unlike other shares where I may have cut my losses I really believe in the BOD: they are hugely committed, positive and capable of managing 4 concurrent projects with all now in a position to provide massive upside from 1.35p. I am certain we will continue to release positive updates for Redmoor, LCCM, Cobre and with luck Hanns Camp. GLA

Indeed Drewky: we certainly are not controlling the shots which leads to an uncomfortable conclusion. Should the self-imposed November deadline for the farm out conclusion fail to materialise what then for the shareprice? We cannot begin actual remediation of Kiliwani without permission and that should be entirely unrelated to the farmout deal. In this context the only effectual remediation would be reperforation of the well which would warrant an RNS. It is extremely frustrating and disappointing to watch the sp consistently fall. Some see this as an opportunity and they are braver than me. I see Kiliwani as a barometer of how Ruvuma will play out and until that is resolved I will remain extremely wary of committing more funds and critical of the BOD. A BOD who seem paralysed by their belief that the other side is wrong and unable/unwilling to chart a course towards a swift resolution at Kiliwani.

You make a fair point Drewky, so in that context: Why is the Ruvuma project being held up at ministerial level: getting in the way of the industrialisation of the whole country over a couple of million?

Interesting perspective highlandmatt. Just curious though: given the Zubair Corporation already hold 30% of Aminex and have done long before the farmout deal why have the wheels not been greased before now? And why are we still waiting, 3 months from the initial farmout announcement, for any of the Zubair Corporation clout and fantastic relationship we allegedly enjoy with TPDC to take effect? I suspect the TPDC are an immovable object on the disputed trade receivables and our BOD instead of saving us all a huge amount of time and financial loss (paper for most) are sticking to their guns. Perhaps waiting for demand to force the TPDCs hand but it hasn't worked so far and it's pi's who are caught between a rock and a hard place. I don't fancy our chances of Bhattacherjee is playing chicken with TPDC.

Value that's now all but evaporated Drewky. It's all very well to base a salary review on a previous years performance yet an entirely different matter to award it in the face of a wholesale loss of income, expansion of staff and significant delays to all areas of our operation. You don't/shouldn't award a salary rise in total isolation of these facts yet that is exactly what they did.

Nice to see you are becoming a bit more open minded to criticising the board Drewky - for a while there I was starting to think you felt that the BOD was beyond reproach under any circumstance including but not limited to the following statements/commitments/assertions which have proven incorrect:

NT3 will be drilled back-to-back
Ruvuma will be self funding (while we were still operator)
Kiliwani should be a simple fix (2017 AGM)
Kiliwani valve should take a few days to fix (early September 2018)
EGM circular will be out in September ....
Performance based pay for the BOD ....

Are the BOD just hoping that the Tanzanian government will award the license before mid-November? It doesn't look like the TPDC are in a hurry to approve remediation or even the Mtwara license while there is still a dispute going on over receivables. I can't see any movement until that has been resolved and these have been disputed for quite some time now I seem to recall reading these in the 2017 half year report.

Looking at the list of trades there are ~ 7m buys compared to 1.5m sells and we're still down 7%?? Anyone have any idea why that might be?

I wonder when we'll actually hear any news update of any substance and how low the sp will have fallen when that happens?

We don't need approval to replace a valve smudger63 - a valve we were told would take a "matter of a few days" back at the start of September. No updates, no news, no tweets - nothing.

Some would say let them get on with it but 20 months from NT2 we've run down our cash position while our only source of income has evaporated. We have no diversification and no revenue streams that are not entirely reliant on the TPDC. All our eggs are in one basket. We're told frequently of the great relationship between us and TPDC but that never seems to translate into any positive movements on the ground. Indeed we're actively disputing payments with them and have been for several years. Makes you wonder what we could achieve with a change of leadership.

Look randomaxe - Bhattacherjee is probably on the golf course and then he has a 7 course lunch to get through. We simply cannot expect him to care about PI's we are are a mere distraction once a year and he will be annoyed that with an EGM he'll have to pretend to listen to us again for an hour or so.

I know the market is down overall but seriously another 7% down?!

I hope the BOD announce a 5 year extension to Cobre and early production at LCCM a cobalt/nickel find at HC and even higher grades at Redmoor and the sp jumps 200% and everyone who is selling misses the boat .... and you know what it's not even a far fetched a prospect.

Well the good thing is that we're cash accretive and we have had great newsflow recently with lots of great updates from a confident and self assured CEO to help reassure investors that everything is on track. The BOD have leveraged their well known and lauded fantastic relationship with the government to fast track our multiple developments and ensure that pi's who took a rhuge risk to help develop the country's resources are being rewarded with a ROI. ... oh wait ... wrong board again sorry!

The good thing is that we have a really committed BOD with enormous integrity who have stated many times that they are concerned about Pi's and the sp and will take steps to bring fantastic ROIs to investors. Oh wait sorry wrong board.

I have to say I am increasingly concerned about Kiliwani and the lack of any meaningful progress nearly 1 year from being shut down. Cash is king and without any income and large costs we are in a very precarious position with dwindling cash reserves. I find it incredible it has taken so long to remediate Kiliwani pressure issues - who is causing the delay. Certainly it's worked extremely well for Zubair Corporation - are they the cause of the delay? We already have a licence for Kiliwani so I don't see why/how remediation at Kiliwani should be contingent on anything happening at Ruvuma. I also don't see why we can't focus on both projects. We need Kiliwani production restarted PRONTO!