Aminex Share Discussion Threads

[thecynical1] 24/8/2015 11:01

at which interest rate??? let's face it......given their "past performance" in relation to the financing arrangement that is in place at the moment. do you seriously think that the next lender is going to give them an easy ride.......??? if you do, you are kidding yourself imo.

[haggismchaggis] 24/8/2015 10:49

Aminex have already told you that they won't have a problem. Stop trying to hide the facts in a pathetic attempt to fool investors, you're no good at it, we can read and understand RNS."The Company is currently in discussions with a substantial financial group which has indicated a willingness in principle to make loan finance available to Aminex which will allow the Company to pay down its existing loan obligations and continue to develop its Tanzanian licences, especially the Ruvuma PSA."

[ngms27] 24/8/2015 10:42

Consider this:

I'm asking banks to borrow £200,000 to buy a House, but I do have some equity.
The banks expect me to pay Interest on the Loan and pay off the Capital in X years.
The problem is my salary plus 10% extra is already consumed by outgoings.
I tell the bank that this time next year I'm going to be loaded.

Would any bank give me a mortgage?

[greyingsurfer] 24/8/2015 10:16

That may be the case but once you have income you can borrow on the strength of it

You can, and it certainly would put the company in a stronger position by increasing the range of funding options, but like any other funding option there is a balance of costs and risks to consider. Debt would prove better for shareholders if any drilling funded is successful, and if the company doesn't find itself short of cash to service the debt for any reason in the future - OTOH the future risk to shareholders is clearly higher, than with a farmout or placing.

Peter

[edgar222] 24/8/2015 10:11

I like this update.

It smacks of focus. Egypt sorted at no cost and some (presumably small) income stream.

GSA on the way. The fact that we have been saying that for 18 months does not detract from the evidence. Wentworth's complete GSA and the payment protection system set up by Tz for the first time.

It seems to me (FWIW) that the real news is post GSA signing.

A N2 drill (whether sidetrack or not) targeting the 1TCF (approx) that they think is there by the end of 2015 would be very good news.

[c31161] 24/8/2015 09:28

That may be the case but once you have income you can borrow on the strength of it

[ngms27] 24/8/2015 09:18

c31161,

Seems that you haven't looked at the accounts.
The monies from the KN-1 gas won't cover the running costs of AEX at present if my calculations are correct.

Therefore it remains my view that further dilution is all but a given and I'm expecting it to happen on any price strength such as the signed GSA.

For the record I own AEX shares bought around 1p and will look for an exit on any price rise following the GSA completion and may return for Ruvuma drilling at a cheaper price. Well that's my plan.

[thecynical1] 24/8/2015 09:01

"can be concluded"............ clever wording...............strange that they don't say "will"..........?????????? but hey, you put put an RNS about what is basically a meaningless exit from Egypt ( with a royalty due somewhere probably a long way down the road - the company liable to pay the royalty only has to do so once a certain level of revenue has been achieved ) and know that you have to say something about the GSA......so you bull"€&t.........clever move...........all adds to their credibility imo.

[greyingsurfer] 24/8/2015 08:50

Interesting, and I suspect significant, wording in this mornings RNS

Tanzania Petroleum Development Corporation advised us late last week that our Gas Sales Agreement ('GSA') for Kiliwani North can be concluded in the near future, enabling gas from the field to be sold into the pipeline system soon afterwards

Interesting that TPDC are now being quoted as saying the GSA and production are close. I've not see it stated in that way before. And the statement was presumably made soon after M&P had agreed payment guarantees.

Peter

[thecynical1] 24/8/2015 07:54

"to be concluded in the near future".........credibility of that statement ? ? .....how often have we heard that before.....?.? when did they first plan on "concluding" the deal??.???

[c31161] 24/8/2015 07:40

Well Aex said on June 25th 60 to 90 days, that's was 60 days ago today.

[gerryjames] 24/8/2015 07:40

That's probably the shift work for you BG.

[paulhgreen] 24/8/2015 07:37

Delay what delay oh you mean the last 12 months


lets just get it signed and get some cash flowing

[blackgold00] 24/8/2015 07:36

hadn't noticed

[gerryjames] 24/8/2015 07:27

Yes apparantly there was a "long delay".

[lfdkmp] 24/8/2015 07:22

One might almost say that it's imminent.

[gerryjames] 24/8/2015 07:10

They have answered your question Edgar and...

"Meanwhile, in Tanzania we can report that good progress is now being made in concluding payment protection terms for gas producers after a long delay and the Tanzania Petroleum Development Corporation advised us late last week that our Gas Sales Agreement (‘GSA’) for Kiliwani North can be concluded in the near future, enabling gas from the field to be sold into the pipeline system soon afterwards.”

Nearly there..."good progress" "near future" "fish" "soon". Almost.

[c31161] 23/8/2015 20:13

If GSA is complete there will be no need for dilution as Aex would have no problem in getting credit on the strength of their new income

[ngms27] 23/8/2015 18:00

I disagree, 12p only if they are producing from multiple wells on Ntorya so a few years away IMHO if at all.

This will get harder due to dilution which is imminent IMHO

[edgar222] 22/8/2015 13:43

Warbaby

1TCF to AEX proved and with a pipeline to connect it is the answer. That would justify 12p

[warbaby43] 22/8/2015 12:02

greyingsurfer, Orca gave some detail on this in its IFC financing release:

[warbaby43] 22/8/2015 11:57

With regard to sp, while pence per share might be what matters to us, the currency of the industry is dollars not sterling and any really big near future value is going to attach to AEX only via success with N-2 and that being followed by an actual takeover or the market getting all juiced up at AEX becoming a takeover prospect.

So, assuming no more major Placings, edgar 222's magical 12p would be the equivalent of AEX having a notional (very notional as at today) value of $360m = £240m @ $1.50/£ = 12p per share at 2bn in issue. So what would N-2 (and N-1S?) need to turn up to justify a perceived $360m or even $180m for 6p?

What also becomes a big factor for AEX shareholders both with calculations like the above and with income from gas production is dollar strength, so lets just hope that the greenback stays strong against sterling.