Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Finally, a believable take:
“Aminex (AEX) announced a strategic and corporate update. It’s cutting the fat and intends to reduce gross general and administrative costs by 30% this year from 2020 levels, with an additional 25-30% reduction in 2022. The Board is being reduced from five directors to three and from some of the negative commentary, the "cost reduction process” appears to include some of their paid PR. Objectives now are to capitalise on Ruvuma, maintain discipline on expenditures and pursue strategic initiatives. It’s starting to look like a decent bet.”
https://**********************/2021/01/ujo-rbd-bpc-88e-copl-blvn-aex-eco-adme.html?m=1
Farm down Kiliwani and Nyuni to Zubairs. Only way we’ll get 3D seismic in those assets while they’re in the neighborhood. And yes I mean K-south. K-N1 is a write off IMO if they can’t even get govt approval for a bag of sponges
FWIW, Malcys blog is meaningless. His comments today are simply code for "AEX has stopped paying my influencer fee" and therefore has no more use for them. He's basically a one-man show proactive investors marketing board. Buyer beware with that one.
Blackgold, we SHOULD still keep negotiating those rights. They're just paper assets though until we develop them. Some nice window dressing for our future partners.
If we're cutting costs by 2/3rds by next year, we won't have anyone on our payroll to do anything. Perhaps that's a knock against the argument that we'll merge with WEN -- they don't have any operational resources either.
At this point, I'd like to see Zubair Corp pump some more investment into the company -- we can be their UK based public vehicle for whatever they want to do.
Well that was a damp squib. What strategic initiatives? We're clearly a shell company now. Turn the lights off and keep this one in the shelf until Q122.
I'd say a tie-up with WEN or other is a foregone conclusion after this announcement. Hopefully not until after the CH1 drill though. Would be a waste of value to do anything beforehand.
Yes, assuming all resolutions are passed. Which they will. Because we're an Ireland based entity, there's now an extra step needed to ensure trades are electronically cleared (settled) in the EU. Welcome to your red-tape Brexit.
It's not their business model to take big bets on wildcats. fees, fees, fees is what they care about.
My view is no one will buy in here until license is (again) renewed and 3D is completed. Why pay cash for an asset beforehand? Their share of these costs will nearly bankrupt the company but can probably swing it. Paying their share of a CH1 is a non-starter IMO. The dilution alone to raise another $5m would wipeout most upside. Ruvuma sale, I think, is an H2 story.
Of all the things mgmt should be focusing on, tarting up the website is right near the bottom.