Aminex Share Discussion Threads

[foolsandcows] 26/3/2015 14:44

Final Results soon?

Hummmm...

[theunluckyone] 26/3/2015 14:39

It does not seem a reasonable reply to me.It is about time they actually did something for the money WE pay them instead of leaving the shareholders and thereby owners of the business dangling in the wind not knowing who to believe.

[ngms27] 26/3/2015 14:22

They must be sh1tting themselves.

[last throw] 26/3/2015 14:14

Hi all

Emailed Jay yesterday and received this reply:

Dear Mr.

Thank you for your interest in Aminex. We monitor all press pertaining to the Company and are aware of the recent media report you are referring to. We do not comment on specific media reports but recommend reviewing all media with an air of scepticism as often things can be taken out of context or misquoted.

As a publically traded company, we are unable to update an individual shareholder on a standalone basis and we will certainly update all shareholders on material news when it is appropriate to do so. We appreciate your continued support.

Best regards,

Stephanie Vaughan
Office Manager

Seems reasonable!

LT

[jacks13] 26/3/2015 12:59

The rising tide story first appeared in February 2015.



This week's story credits the ministerial spokesperson with saying that the gas processing plants are 96 per cent completed and that they will be fully completed by November; the delays, she said, being a result of rising tides which are threatening to wash away sections of the pipeline.



I assume, maybe wrongly, that the erosion she refers to is that which was reported in February and which relates to erosion some distance from the plants. If that is the case then flooding within the plants and Ritson's reference to skids etc seems irrelevant because it is the pipeline which is compromised.

If she isn't referring to the February report then she must be referring to a second erosion site; which still raises a question as to the relevance of Ritson's comment.

[edgar222] 26/3/2015 12:13

We must all evaluate each piece of information and decide.But the reassurance is good enough for me. The erosion issue is not new to me. Building infrastructure there always had that issue. If they had not planned it properly, thereby causing a delay of many months, that would have been significantly bad news. But the "delay" is explained by the mis speaking spokesperson who, when she referred to November, meant the handover by the Chinese to Tz.So, for me, nothing new and a non issue. Feel free to decide differently.

[greyingsurfer] 26/3/2015 12:04

Jacks

The flooding news is not new. Can't remember where it was posted, but it was several months ago. There are erosion issues, and they are being dealt with. I'm quite sure that M&P knew about them when they recently confirmed they expect to start sending gas up the pipe in H1.

The concerns that some had about the recent post was the suggestion, almost certainly misquoted, that the gas processing plants wouldn't be ready until Nov. While I'm generally cautious about quotes from Solo, they can appear to be pumping things up at times, given everything else we know I'm inclined to believe this one.

Peter

[jacks13] 26/3/2015 09:45

edgar, the above (51944) quote says '..the gas plant components are skid mounted...etc'. The projected delay is related to pipeline erosion further down the coast and not to the plant becoming flooded. So it looks like the reassurance is no reassurance at all.

[warbaby43] 26/3/2015 08:11

Looks like a big Thank You is due to the as usually communicative NR and to Bigdouble for the e mail exchange allaying our concerns, and to Edgar for the spot.

[blackgold00] 26/3/2015 07:20

well, I'm glad about that. thanks edgar222

[edgar222] 25/3/2015 21:15

From bigdouble on LSE and I want to believe but no source or explanation of provenance



"Yes as suspected , there was a misquote. This has happened before. The formal hand over from the Chinese to the Tanzanians will happen in November, but commercial gas sales will start in late 1H2015 as we have previously announce. There is no flooding issue as the gas plant components are skid mounted and will be put in place when needed. All a storm in a teacup."


EDIT

Bigdouble says it was from NR. This is from the LSE Solo board.

[pj 1] 25/3/2015 13:14

Gas has been pumped at Bacton in Norfolk for decades with perfectly manageable erosion, and surviving 2 of the worst storms in history.

Maybe its a front for a government decision, who knows?

[larsson 2] 25/3/2015 13:03

Begs the question why build the pipe where sea erosion is highly possible. Even without hindsight you would think the construction of such an important pipeline would be buried way down to avoid both sea and rain water erosion in the first place. I am not an engineer but just blessed with some common sense so methinks something in this latest news leak has been misconstrued.

As for AEX they must be banging at the door pleading for the GSA to be at least signed off which would alleviate any creditor pressure (hopefully) as a massive step forward even if income is not going to be received immediately or indeed in the short term.

Plan B for AEX is getting nearer day by day to address the debt and clearly they must realise funds wont be coming to pay July deadline by now so I suspect tentative enquiries must be underway to agree a moratorium of sorts with possibly a pledge from Tanzania all will be signed . Maybe??

[impvesta] 25/3/2015 12:01

"warbaby43 25 Mar'15 - 11:27 - 51938 of 51939 0 0

Not that the BoD of Aminex has much, if any, credibility to lose anyway, and especially after the GSA farrago, but what little that may remain will evaporate entirely if they fail to shift any gas in H1"

Strange how we all view things differently. In my view the Board's credibility isn't affected in any way by something which is completely out of their control, in this case any delays in the pipeline being ready.

[blackgold00] 25/3/2015 11:33

Wentworth seem unperturbed, at lest their share price hasn't moved, not yet anyway.

[warbaby43] 25/3/2015 11:27

Not that the BoD of Aminex has much, if any, credibility to lose anyway, and especially after the GSA farrago, but what little that may remain will evaporate entirely if they fail to shift any gas in H1.

H1 2015, that is.

[jacks13] 25/3/2015 10:59

I remember reading that at the time it first surfaced . The headline cites rising tides but the photograph caption blames rainwater for the erosion. The article doesn't let a search for the facts get in the way of a story.

The quote by Badra Masoud says the plant is 96% complete and goes on to blame the pipeline erosion for a projected delay in its completion. Maybe there are other issues causing the plant to be delayed and the pipeline issue is a useful means of deflecting attention away from shortcomings in other areas.

[impvesta] 25/3/2015 10:33

The rising tide problem is old news:

hxxp://www.dailynews.co.tz/index.php/local-news/41469-rising-tides-threaten-mtwara-gas-pipeline

However the possibility of a delay until November is a new comment as far as I am aware.

[pj 1] 25/3/2015 10:27

No idea?

I have warned many times a bigger card game could be being played here.

Would you trust the Tanz Government?

Eh tu Brute?

[larsson 2] 25/3/2015 10:22

Clearly washing away the share price as well this news is very frustrating if true and in context. Surely AEX had an idea or even Wentworth!!!

[jacks13] 23/3/2015 13:54

I'm not too fussed who will own the meter as long as we own the padlock!