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Well that last we heard "officially, a BG has pointed out, is 15% - BUT - as you may remember, when this was discussed at the last AGM, TW and Sultan stated that they were expecting 20% -perhaps included or clarified as part of the recent GSA.
But yes RJ whatever it is will affect both ARA and AEX pro-rata but a 20% dilution of assets is not to be sneezed at! Though I do not think it will stop the sp rise over coming months with successful completion of various milestones - simply moderate it.
Well jshute, I said that I would top up when the sp reached 1p and, when it did about two weeks ago, so I did.....
ICB you reference the FT/IC site - could you be a bit more specific - I would quite like to take a look at that.
Thanks
Not before the EWT - you heard it first from our own BoD....
Just offered 1.425p for 1,000,000
And SELLS at 1.4975
Indeed gents now 1.40 -1.50p with BUY trades at 1.48p
I do not expect anything now until after the Energy show is complete largely because before we get an RNS and, as emptyend pointed out, ARA will need written confirmation of the 25 Year Dev license completion before ARA can release the news to AEX and AEX can release that RNS. With so many "prime movers" at that show/conference I suspect little will move until everyone is back "at their desks" - plus there is the issue of the RNS "approval" before release.
Though as Edgar says and I agree, it is only a question of when and not if we will get it. I am also sure that it will have a positive impact on the sp - though quite how much of an impact is likely to depend on what, if anything gets announced with it? As emptyend has pointed out it could come with a slough of additional activity or pointers to the timelines for such activity. Anything will help - with the possible exception of confirmation of the execution and extent of any uptake of the TPDC's back-in rights. That could have the effect of a considerable dilution.
Sorry RJ obviously I meant when NT3 became CH1 !! ;0) Sorry.
By the way RJ just to point out that NT2 would not have been an exploration well as NT1 effectively "found" the reserves that NT2 would be drilling into - NT2 was to be an appraisal well. When NT2 became CH1 (drilling into the Jurassic targets) it reverted to an Exploration Well as it was "exploring" a target that had yet to be discovered or proven to exist. Now that these targets are no longer being explored it will revert to an appraisal well. NT3, 4 all the way to #8 will be appraisal wells; they will be appraising what they already "know" to be there. Only once they go outside of the fan basin that they have "proven" will those drills revert to becoming exploration wells.
At least that is my understanding.
Basically Umaz an Exploration license gives the holder the opportunity to go and find gas or other resources with the expectation that, once they find it and enough of it, they can then apply for permissions and terms agreed with the Tanzanian Agencies to "exploit it". Exploiting it requires whole raft of additional requirements and obligations - to agree a plan for a work programme that drills or otherwise extract the asset, an infrastructure to get it to market and planning permissions, compulsory purchase orders and compensation for people affected by it etc etc
RJ you say "...back costs to pay in one form or another would they not?" Yes absolutely, in principal BUT reality dictates and the TPDC would be highly unlikely to dip into their, very empty, coffers; I would fully expect their contribution to historic and future costs to be funded from their share of future income streams. TW alluded to this back in July.
RJ you say "Ara and Aminex are in partnership with TPDC." - that presupposes that the TPDC have exercised their back-in rights to the Ntorya License (which has long been expected) but if so it has not been confirmed anywhere to my knowledge - maybe as part of the GSA but as no-one has seen it how would we know?
I have not been following the board or the sp this morning but see that the sp had fallen below 1:00 on the bid. Thankfully now back up at 1.05 - 1.15p and with BUYS going through at 1.15p. I really hope we see this stabilise above 1.00p before the RNS comes out.
Yes emptyend, understood and accepted. We can but hope :0)
Any further information re future work programme and timings would of course be good news emptyend but the last we heard ARA had not even signed a rig contract, so to what extent that timing information is currently available is questionable methinks?
Good morning emptyend - and will that RNS require the TPDC (or similar) to run their eye over it first?
Happydazes I would agree with your assessment but for one thing - I think that raise will be at 1.25p and would not be surprised to find that it is already "in the bag"....
Morning Rojo, yes you are right having looked again it is more than £55k! Never ben too good at mental arithmetic - well not after a few beers anyway :0
I don't think anyone doubts the Dev License is a "done deal" but if the sp is to continue its upward trajectory we rather need that RNS - and quickly, methinks. I am a little disappointed that we haven't seen it already albeit NOT surprised, for reasons expressed yesterday.
Whose new avatar is this "David6576" do you think? Their style of ramping looks very familiar - Neil777, CODEFRED ?? What do you reckon RJ?
Wonderful though isn't it for months, if not years , we see no action ands no new posters here and all of a sudden, the price ticks up and they all appear out of the woodwork! Aminex afficionados, providing all and sundry their opinions and expectations gleaned from their extensive experience and knowledge of the company, when most have been here for all of 5 minutes. Rainbow chasers and chancers!! Laughable.
5p on official confirmation of the Dev license and similar tosh. Thankfully most here have been around for too long to be taken in by the BS - I only hope that some of the newcomers don't get taken in by the hyperbole and embellishment.
I note that having kept a low profile by the experience of the last two years haggismctripe is back and in full voice - We can only hope that his current predictions are a little more accurate and believable than they have been proven to be in the past.
Anyway upwards and onwards, it has been a great day (I am about £55k better off than yesterday! :) let's just hope that this is a sign of things to come and not yet another false dawn; confirmation of that Dev license would be good - and the sooner the better.