Aminex Share Discussion Threads

[qackers] 13/8/2015 13:36

Couple of points from Wentworth conference call thats just finished.

GSA payment guarantee complex because there are a number of parties involved .Funds have cascade through various companies. They have to ensure that each transaction works in all circumstances.

They expect to deliver gas in Q3 and get payment in Q4.

When questioned about local Tanzanian newspaper about gas delivery early September they cautioned about inaccurate reporting but did not shout it down. They are ready to deliver when they get the go ahead.

Also said elections play no part in what is a vital infrastructure project

[edgar222] 13/8/2015 13:12

But a signed GSA subject to something is not a signed GSA.

[greyingsurfer] 13/8/2015 13:07

It is becoming clear, is it not, that Aminex are at exactly the same GSA position as Wentworth?

Noteworthy that Aex did not trumpet an incomplete GSA that does not contain payment guarantees, as Wentworth did.

It may yet prove that AEX are in effectively the same position as M&P - however, we won't know the answer to that until M&P announce that the payment guarantees are sorted and gas is flowing or about to. When that happens I'd hope to see an AEX GSA signed soon afterwards.

However, it is not true to say that they are in exactly the same situation. M&P have signed a GSA - subject to the payment guarantees - AEX have not done so yet. M&P know how much gas is contracted, and at what price. We don't. We hope (and expect) that sorting the payment guarantees will resolve the issues with both GSAs, but at the moment we can't be sure.

Peter

[haggismchaggis] 13/8/2015 11:58

I agree Edgar, 6p this year is very realistic.

[mycr0ft] 13/8/2015 10:09

Like we said months ago - the only thing that Jay B says he is waiting for is an iron-clad payment protection guarantee.

Without that AEX will not sign the GSA; and why on earth would they?

Arguably, a bit like gas, everything else is just hot air.

[edgar222] 13/8/2015 09:20

It is becoming clear, is it not, that Aminex are at exactly the same GSA position as Wentworth?Noteworthy that Aex did not trumpet an incomplete GSA that does not contain payment guarantees, as Wentworth did.Just a small point to bear in mind for the repetitive ones who sometimes appear here with their mantra of over promising and under delivering.Credit to the new board and Jay B in particular.

[edgar222] 13/8/2015 09:10

Great spot, Kwizza. Thanks for posting in full, Blackgold.What share price following GSA, loan re finance, drill rig booked for Q4 N2 drill spud and Solo taking up their full share of KN1.I will start.6p

[kwizza] 13/8/2015 07:35

WRL info this morning.. GSA payment guarantee discussions at advanced stage with delivery on schedule for Q3 2015

[warbaby43] 12/8/2015 20:59

With regard to funding for the Ntorya drills, this from the RNS of 4th June:

"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. While there can be no certainty that these discussions will conclude satisfactorily, the Board of the Company has a reasonable expectation that an initial part of such a facility would be available prior to the commencement of production and will not be conditional on signature of the GSA in Tanzania or commencement of production."

That this was being worked on appeared to be confirmed in the RNS of 25th June when speaking about the purposes of the $2.64m Placing it included this:

"expenses relating to the planned refinancing of the Company's corporate loan facility"

The GSA is also not the only important RNS awaited, so is one setting out the terms for the presumed Ruvuma licence variation from four explo wells by end of 2016 as well as the extension to the Ntorya Appraisal Licence. Have the variation and extension been agreed with TPDC and what pound, or pounds, of flesh have TPDC extracted for their latest forebearance?

[blackgold00] 12/8/2015 20:30

(Aminex "breached license conditions")

ngms27, they've been doing that the last 5-6 years, and guess what, Aminex are still there with re-negotiated PSAs to explore for gas/oil and this does not just benefit Aminex but also Tanzania as well.

So given that Aminex has already raised and spent/invested over $100m on seismic/exploration in the past and with significant success, I am confident that Aminex are currently re-negotiating the exploration/appraisal wells to be drilled on the Ruvuma PSA to a mutual beneficial conclusion.

[haggismchaggis] 12/8/2015 20:26

Over on the SOLO boards there is information from their AGM that is pertinent to AEX.SOLO have the cash waiting to pay AEX for the second 6.5% of Kiliwani, so the cretin on here is wrong again to shout "placing", something he is always doing and 99% of the time he's wrong. When the GSA is signed SOLO will hand over the cash. Kiliwani will then go into production and AEX can then get debt at much better rates to finance Ntorya-2.They are "on track" for drilling Ntorya-2 this year. The GSA for that would be much quicker and they could be in production by end of 2016 there. This would obviously allow them to increase production at Kiliwani next year to boost revenues, in the knowledge that shortening the lifespan of Kiliwani would not be an issue, because bigger Ntorya-2 production would be in the pipeline.

[ngms27] 12/8/2015 19:32

They have already breached license conditions as Ntorya had to be appraised by July 31st 2015

[greyingsurfer] 12/8/2015 19:09

Oh let me guess by placing as soon as they get a spike from a signed GSA...

Is that such a bad plan? The appraisal needs drilling, it needs funds. Placing into a spike seems a reasonable approach. Alternatives would be more debt or don't drill the appraisal and breach the licence conditions.

Peter

[blackgold00] 12/8/2015 18:52

ngms27 "Yes more dilution is on the way folks"

maybe ngms27, but if N2 is successful, how much more value do you think could be added to the stock? as always, nothing ventured nothing gained, you pays your money and takes your chance.

[ngms27] 12/8/2015 16:17

N2 by year end LOL. How will Solo and Aex fund this?
Oh let me guess by placing as soon as they get a spike from a signed GSA...

Yes more dilution is on the way folks

[edgar222] 12/8/2015 15:53

I did say a bit!

[edgar222] 12/8/2015 15:53

Ritson a bit clearer on timelines in the BRR media interview today on twitter. Cant link from this Spanish sun lounger.GSA remains imminent but N2 shortly after that and by year end.

[vike1] 12/8/2015 12:53

Pretty unimpressive AGM presentation from Solo. Looks exactly the same as their Q2 Investor Update from May - including the statement that GSA expected "within weeks".

[warbaby43] 11/8/2015 16:23

Herewith a flavour of the political backdrop in Tanzania. Edward Lowassa was the PM who was compelled to resign, back in 2008, over the Richmond Power Company scandal and who until a couple of weeks ago was a lead candidate to be the Presidential nominee for the CCM. Having, controversially, not been selected by the CCM, he promptly defected to the Opposition who swiftly made him their nominee for President, putting quite a few other noses out of joint.

It all does make our own dear Labour Party's circus seem rather tame, but with a little over two months to go and the CCM being pressed as never before, the political backdrop against which Aminex have to operate is going to get pretty inflammatory.

[theunluckyone] 11/8/2015 10:08

With over a 55% chance of making a profit after holding shares for just one day it is surprising the market is as dead as a dodo but there again that is caused by those greedy,manipulating,straight as a corkscrew Market Makers and their equally straight Regulators checking their actions.Someday soon - hopefully with their Christmas bonus cheque - another raft of the leeches will be receiving their P45.
I feel sorry for the family of any mug investor that believes the wildly deceiving article and its hint at overnight wealth generation and proceeds to gamble their life savings in the cesspit called The Stock Exchange.Shame on the paper concerned for publishing such rubbish.

[blackgold00] 10/8/2015 15:44

PJ1, just came across this article in the torygraph, made me smile a bit, after seeing your comments today. :)



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