Aminex Share Discussion Threads

[ngms27] 09/9/2015 17:17

Have you been smoking ganga?

[edgar222] 09/9/2015 16:54

Look at that spike up in the AEX share price at the end of day.

See it on the Google Finance graph.

That looks to me like a spike on an RNS being lodged for tomorrow. One might say an imminent RNS. Or is it a fantasy RNS ?

Gibber.

[gerryjames] 09/9/2015 10:20

There actually is such a lady. Well stage name.

[brad44] 09/9/2015 09:23

either way gerry, made me laugh. what a surname, can you imagine how much bullying she got at school

[skinwalker] 09/9/2015 08:46

Thats it - its all over. Not a flicker of life from the patient in over 48 hours.
Expired, deceased, gone.
We can all go home now

[gerryjames] 09/9/2015 08:39

Fair point Brad, add hard of hearing.

[brad44] 09/9/2015 08:02

was it bug or rug?

[ngms27] 09/9/2015 07:54

Argo only got warrants that are currently worthless, Gemini always take shares look at their website.

Still a very very bad loan though and stinks of desperation!

[gerryjames] 09/9/2015 07:24

Just read this on the BBC while waiting on the GSA RNS, the BA plane that went on fire in LA,

"Eyewitness Reggie Bugmuncher said she was waiting at a gate for her flight when she heard people saying: "Oh, my God""

I hope Reggie sees it.

[blackgold00] 08/9/2015 18:16

17 January 2013

FINANCING AGREEMENT



"Aminex PLC ('Aminex' or the 'Company'), a London and Dublin premium-listed oil and gas company with assets in the emerging hydrocarbon province of East Africa, today announces that it has agreed a US$8 million loan facility with a fund managed by Argo Capital Management (Cyprus) Ltd., with which the Company has had a long standing relationship. The loan will provide working capital, particularly for the Company's Tanzanian operations. The Company intends to repay the loan facility from proceeds of the proposed sale of its US assets which is currently under way. In the event that the loan is not repaid by the sale of US assets before 31 December 2013, Aminex has agreed to raise additional equity to repay the loan facility and to provide for the Company's ongoing operations."

"The loan facility carries a 12.5% coupon (rising to 15% per cent from 1 July 2013) and is repayable by 30 June 2014. It is secured by fixed and floating charges over the group's assets. Aminex has also agreed to grant warrants to the lender representing 5% of the existing issued share capital of the Company at a price of Euro 0.06, being approximately a 6% premium to the closing market price on 15 January 2013. 32,226,579 of these warrants will be issued now and a further 8,706,337warrants will be issued subject to the approval of the Company's shareholders to increase the authorised share capital in a general meeting. The warrants are being issued under a disapplication resolution approved by shareholders at the Company's AGM in May 2012. All warrants will be exercisable for up to three years from 16 January 2013. The warrants are subject to anti-dilution rights at the same exercise price"

[ngms27] 08/9/2015 18:06

8% I believe from memory

[blackgold00] 08/9/2015 18:05

ngms27, do you know what interest rate Argo is charging for the loan?

[greyingsurfer] 08/9/2015 17:56

Better than Argo, dream on!

If new funding is agreed after the GSA then I'd be disappointed if the terms weren't better than the Argo deal, whoever the lender is. Better still would be a good farm out deal, but I doubt we will see that yet.

Peter

[ngms27] 08/9/2015 17:37

Better than Argo, dream on!

[blackgold00] 08/9/2015 17:14

maybe, but what ever it is, it has to be better than Argo and better than doing nothing.

[ngms27] 08/9/2015 15:52

Or they might have to grab any deal as nothing else is available.

[blackgold00] 08/9/2015 15:36

warbaby, "but whether IFC, Gemini or whoever it will be the participatory percentage and the accompanying terms that will determine the market reaction".

yes agree, and Aminex might well be playing one against the other for the best deal.

[blackgold00] 08/9/2015 15:08

still flat-lining skin get the defib

[warbaby43] 08/9/2015 15:08

Here again is the IFC financing para from Orca's announcement of 15th June:

"IFC has received approval by the board of World Bank for an investment by IFC of up to US$60 million in the Company’s operating subsidiary, PanAfrican Energy Tanzania Limited. The investment is currently contemplated as a subordinated, income participating loan with flexible repayment terms and a maximum tenor of approximately 10 years. Completion of the IFC financing is subject to final agreement of specific terms and the negotiation and signing of definitive documentation. Initial drawdown of the facility will be subject to a number of terms and conditions, including satisfaction by IFC of the sustained payment performance of the Tanzania state utility, TANESCO, in respect of ongoing gas deliveries by the Company."

"Income participating" as with Gemini, it would seem, but whether IFC, Gemini or whoever it will be the participatory percentage and the accompanying terms that will determine the market reaction.

[skinwalker] 08/9/2015 15:03

This all seems irrelevant. Patient about to expire.

[blackgold00] 08/9/2015 14:32

well I suppose it all about the level of risk which will reflect the loan that's achievable by Aminex, the interest rate with the Argo loan was extortionate but at the time Aminex was financially desperate and their Ruvuma assets far less de-risked than they are today, but now things are some what improved, with KN gas due on-line soon-ish, and having the Ruvuma prospects de-risked by the new seismic interpretations, should go towards achieving a better financial deal. in my books anyway.

[ngms27] 08/9/2015 13:50

Not without trawling through old RNS's no, but trust me I have a long memory they don't stop at a pound of flesh

[blackgold00] 08/9/2015 13:09

ngms, "Gemini charge extortionate interest rates and take shares as well"

can you give some examples of their other funding's.

[ngms27] 08/9/2015 12:31

Gemini charge extortionate interest rates and take shares as well. They are the lender of last resort.

[blackgold00] 08/9/2015 11:59

I thought Argo was a branch of Wonga Wonga : )