Aminex Share Discussion Threads

[ngms27] 19/8/2016 17:15

Exactly stinkypeet which is why I offloaded some yesterday and hope to bay back 15% cheaper. Every little helps, though I got this methodology wrong with Ithaca on my last trade

[stinkypeet] 19/8/2016 16:31

Perhaps because if you been following AEX for any length of time you would have learned that it was unrealistic to expect the share price to contunue to rise without the ever present coterie of short term traders taking advantage of that rise by selling into a rising market. Plus what is there likely to happen before the NT2 results to maintain this upward momentum... ? A 50% rise on the week (at 2p) and a 100% rise over 6 weeks (from 1p) and it is hardly surprising that people would be taking some risk off the table. It could be argued that there is probably more short term downside than upside at 2p.... Not my view but I wouldn't be surprised for others to see it that way.

[bunbooster2] 19/8/2016 16:18

But why "take a profit", to coin a phrase, unless you expect the stock to fall? Something doesn't add up here. Maybe there are some issues onsite in Tanzania and it's leaking out (I have no formal proof of this but it would definitely explain the sharp spike down).

[888icb] 19/8/2016 15:37

Volume has now exceeded yesterday and now stands at 20 million. A pull back of 5% after yesterdays 27% rise is not bad. One could expect some profit taking on the 50% gain from the open offer and placing price. Yesterday AEX went up strongly at the end of the day and we still have 53 minutes of trading.

[bunbooster2] 19/8/2016 15:06

But surely if there is confidence that the price will rise it is better to wait and make more profit in the future (simple mathematics). I'm worried that there is some fundamental weakness, or rumour of one, causing the price to drop. We can't know for sure.

[ngms27] 19/8/2016 15:02

Profit taking, too much too soon is my guess

[bunbooster2] 19/8/2016 14:45

Anyone know why there has been a sharp fall today? I am worried there might be rumours doing the rounds.

[888icb] 19/8/2016 14:01

SP is holding fairly well today on high volume again. Yesterday we saw nearly 18 million traded and we are currently at 16.3 million. The highest price paid today has been 1.9785. It would be nice to see 2p at todays close or will we have to wait until next week?

[ngms27] 19/8/2016 12:55

N3 will be 2017 there simply isn't enough time to drill that given NT-2 isn't going to spud until October/November at the very earliest. N2 may even be 2017 given they haven't announced a rig contract yet

[proactivest] 19/8/2016 12:50

Shares rose to a six month high at around 1.62p, and are up 22% in that period. Shore Capital reckons puts Aminex’s net ‘risked’ asset value at 4.8p a share or £90mln.
Check out:

[proactivest] 19/8/2016 12:41

Big on the bulletin boards:
Shares rose to a six month high at around 1.62p, and are up 22% in that period. Shore Capital reckons puts Aminex’s net ‘risked’ asset value at 4.8p a share or £90mln.
Check out:

[...]

[stinkypeet] 19/8/2016 12:36

Oh and another reason was because AEX have only enough pipe and chemicals to drill one at a time.....

[stinkypeet] 19/8/2016 12:36

I cannot deny that the presentation makes your very point - I am just telling you what I was told at the EGM.... NT3 in the new year NOT 2016.

Time will tell but I won't be holding my breath.

[haggismchaggis] 19/8/2016 12:32

Not AGM, EGM.

[stinkypeet] 19/8/2016 11:15

haggismchaggis...

At the EGM JB stated that NT2 would be drilled in the 4th quarter (I am expecting 1st half of October. However they will NOT drill NT3 until the results of NT2 are known as the readings from NT2 may determine some fine details about NT3; and if the worst happens and NT2 is a bust then they may review the positioning of NT3.... Hnece the NT3 drill is unlikley until February at the earliest and possibly March. This to me is indicative of when they expect to get a result from NT2 - that is? Not until January.

[greyingsurfer] 19/8/2016 11:06

When drilling begins then another re-rating to 4p or more is a given.

I'd think 4p is unlikely at least until a successful appraisal result.

Peter

[blackgold00] 19/8/2016 10:32

1 August 2016



Aminex plc

Mtwara licence extension and Ntorya-2 Appraisal Well Update

The Mtwara Licence includes the Ntorya Appraisal Area where the Company has an existing discovery well, which tested at 20 mmcf per day with 139 bbls of associated condensate.

(Within the licence, civil work for the Ntorya-2 appraisal well has commenced and it is expected that the well pad will be completed within 10 weeks.)

The Company has a 75% working interest and is the operator of this well which is positioned approximately 1500m South West of the Ntorya-1 discovery well. The well will satisfy the Company's appraisal drilling obligation after which the Company intends to apply for a 25-year development licence subject to its success.

[haggismchaggis] 19/8/2016 10:14

Sorry four and a half months left, but still a start of drilling real soon.

[haggismchaggis] 19/8/2016 10:13

The most recent presentation dated 2 August shows wells 2 and 3 both being drilled in 2016. There's only three and a half months of 2016 left, so the drilling has to be planned to start real soon.

[steviedoesit] 19/8/2016 09:56

That was just for the pad 10 weeks

[slepy] 19/8/2016 09:48

Wasnt it 10 weeks ?

[flyingswan] 19/8/2016 09:46

Does anyone know the Spud date for the new drill? I think they said the drilling rig was already nearby?

[slepy] 19/8/2016 09:25

My price target is 6.3p where I will break even.
Only because it is my target doesn't mean it will ever get there.
AEX never goes up in a straight line. Actually it was always closer to going straight down. Let's hope that it has changed now.