Aminex Gears Up for Transformative Year in Gas Development

Aminex plc (GB:AEX) has released an update.

Aminex PLC has reported a successful year with significant advancements in its Ntorya gas development project in Tanzania, including the completion of a major 3D seismic campaign and the selection of an optimal drilling site for the Chikumbi-1 well. The company has also secured a $3 million funding facility from its largest shareholder, ensuring sufficient working capital beyond 2024. With the anticipated issuance of a 25-year Development Licence and a signed Gas Sales Agreement, Aminex is poised for a transformative year, aiming to commence revenue from Ntorya gas sales soon.

For further insights into GB:AEX stock, check out TipRanks’ Stock Analysis page.