Aminex Share Discussion Threads

[bunbooster2] 11/5/2015 11:24

The real clue is the timing of the message. 3:58. 3+5 = 8. 88.

What is 88? Two racing tracks.

What goes on racing tracks? Cars.

What powers cars?...

I think some significant news is being hinted at.

[blackgold00] 11/5/2015 11:17

DFGO "a very supportive lender mentioned at 3.58 minutes"

warbay / GFGO, I think when JB made that statement (we have a very supportive lender) he was at that time of the interview referring to the present lender Argo.

[ngms27] 11/5/2015 11:14

I've heard Jason's got involved, along with his Argonauts.

[bunbooster2] 11/5/2015 11:13

Quite a few rumours doing the rounds today. Or should I say chinese whispers... ;)

[larsson 2] 11/5/2015 10:52

Only two hours and forty odd minutes in trading today and volume higher than usual daily trading. SOLO not reflecting any possible rumours as it remains in the doldrums so is this rise AEX specific.

[dfgo] 11/5/2015 10:39

a very supportive lender mentioned at 3.58 minutes

[ngms27] 11/5/2015 10:34

What's this the talk it up to short brigade arrived?
or
Talk it up to allow Management to get a placing away?

[duxy786_2] 11/5/2015 10:28

Rise to 6P imminent here, the spike and traders will take it to beyond but I expect it will stabilize around the 6p mark after touching 8-9p.

Ravoooooooooooooooooooooooooooooma

[ngms27] 11/5/2015 10:27

LOL, the rampers back

[jacks13] 11/5/2015 10:05

Was it a liquid lunch?

[liquid millionaire] 11/5/2015 09:55

City lunch last week for AEX....there is seriously MAJOR news on the way from AEX if not this week then next. AEX will re-rate back up to 10p+

[warbaby43] 11/5/2015 09:44

blackgold, you can test my memory at your post 51697.

I'm just off out so haven't been able to view the Malcy interview again

[blackgold00] 11/5/2015 09:06

interesting warbaby, has any one got a link to the last JB interview, I can't find it myself at the mo. thanks

[warbaby43] 11/5/2015 07:54

Vike1, if I recall correctly, in that interview he didn't refer specifically to Argo by name but just "a very supportive lender" and then added words along the lines of "who want to help us grow the company."

While the probability is that it was indeed Argo he was referring to, the presence of Tommy Mack on the Board and their modus operandi did make me wonder whether it was instead Gemini who was the "very supportive lender."

All will be revealed soon (next week?) - it's gotta be!

[dontsweatit] 09/5/2015 19:40

when is the defaults date very soon i think

[foolsandcows] 08/5/2015 20:17

I think we may find out soon...patience anyone?

[vike1] 08/5/2015 20:09

For what it's worth, in Jay's last TV interview, he stressed what a good relationship they have with the lender, and that Argo is very supportive of their activities. With the $3m we've paid already, plus the whopping interest payments we've made, Argo's probably not far off from having already recouped their principle. Why would they chop the head off their golden goose? I'm sure Argo would be happy to keep lending out at 15% for years and years.

Worst case, they pull a Solo and hit up the market for a couple mill - dilutive, but it keeps the lights on.

[warbaby43] 08/5/2015 18:33

jacks13, quite agree with you re the implications of the Argo warrants, however looking at the 2014 AR, the exercise price does seem to have been re-negotiated at the time of granting the loan extension. Would be interesting to know what this has been reduced to - a question for anyone going to the AGM?

[jacks13] 08/5/2015 15:52

Don't forget Argo, apart from being a creditor, do have their own stake in the company. They'll want their pound of flesh but they're unlikely to send the company under whilst their investment remains likely to prove profitable. Only if the gsa doesn't materialise and/or the licenses are revoked because of non-performance is their assessment likely to change; in my opinion that is!

2013 HALF-YEARLY FINANCIAL REPORT (29 August 2013 page 21 of 22):

'On 17 January 2013, the Company agreed a US$8 million loan facility with a fund managed by Argo Capital Management (Cyprus) Ltd which was fully drawn down in the period. The loan facility carries a 12.5% coupon for the period (rising to 15% from 1 July 2013) and a repayment premium rising from 103% to 120% depending on the date of repayment. The loan is repayable from the proceeds of the sale of the Group’s US assets in the first instance. Under the terms of the loan, the Company will seek new equity to repay the loan if disposals of assets have not repaid it by the end of the current year. It is secured by fixed charges over certain of the Group’s subsidiary companies and a floating charge over the Group’s assets.
The Company granted warrants to the lender representing 5% of the existing share capital of the Company at a price of Euro 0.06. The cost of these warrants falls within the scope of IFRS 2 Share-based Payment and is recognised over the term of the facility. All warrants will be exercisable until 31 December 2015.
The warrants are subject to anti-dilution rights at the same exercise price. The Company has calculated the fair value of the warrants at the date of grant at US$1.37 million using the Black Scholes model which has been included in a Share warrant reserve in the Condensed Consolidated Statement of Equity at 30 June 2013, with a corresponding amount offset against the initial value of the loan. The key assumptions used to value the warrants include a volatility rate of 60% and a risk free rate of 0.33%.'

[foolsandcows] 08/5/2015 15:37

Interesting times ahead.

My prediction. Within two weeks transformational news out.



Good luck all.. ;)

[warbaby43] 08/5/2015 15:30

Just a reminder for those holding via nominees that the AGM date, 20th May, approaches so anyone wishing to vote will need to make contact with their nominees within the next few days.

For matters to be determined, herewith the Form of Proxy:



With Brian Hall up for re-election, that should be among the interesting results to look for post the AGM.

[ngms27] 08/5/2015 15:01

Yes I got the dates the wrong way round.
June the 30th is the deadline to drill the Ntorya Appraisal so failure to do so risks losing the Ruvuma license.

[haggismchaggis] 08/5/2015 14:13

Well done blackgold for correcting his mistake, although one would expect him to know this already as he's been actively following this stock for so long.

[blackgold00] 08/5/2015 14:05

ngms27 "June 30th they have to pay back $8m and they don't have it."

"the final repayment date of 31 July 2015"

Final Results

"The agreement for a disposal of 6.5% of the KNDL since the year end gives the purchaser an option to acquire a further 6.5% for $3.5 million within thirty days of the GSA being signed. Although Aminex's interest in the KNDL would be reduced to 52%, the exercise of this option would enable further substantial corporate debt repayment prior to the final repayment date of 31 July 2015"