Aminex moves into construction phase at Tanzanian Ntorya gas project

Aminex plc ( (GB:AEX) ) just unveiled an announcement.

Aminex plc reported that 2025 marked a decisive shift from planning to execution at its Ntorya gas project in Tanzania, with the Ntorya-Madimba pipeline now under construction and key civil works, drilling preparations, and processing facility contracts advancing. Supported by a fully funded position to first gas, a debt-free balance sheet after an October equity raise and loan conversion, and a substantial carried work programme, the company sees Ntorya as a multi-decade, nationally strategic gas development that could scale production in phases and transform Aminex into a long-term cash-flow generator.

Operational progress includes completing most route clearing and around half of welding for the 35km pipeline that will link Ntorya to the Madimba plant and Tanzania’s gas grid, with completion and commissioning targeted for September 2026 and initial production expected from the Ntorya-2 well shortly thereafter. Despite a 2025 loss driven by asset impairments and warrant-related charges, Aminex emphasised that remaining carry funds and tight cost control underpin ongoing field activity, while the phased development plan—ultimately targeting plateau output of up to 280 MMcfd—positions the project at the heart of Tanzania’s domestic gas strategy and offers material long-term upside for shareholders and the host country.

Spark’s Take on AEX Stock

According to Spark, TipRanks’ AI Analyst, AEX is a Neutral.

The score is held back mainly by weak operating performance and persistent cash burn, despite a comparatively strong low-debt balance sheet. Technicals are supportive with the price above key moving averages and positive MACD, but momentum appears stretched (RSI > 70). Valuation is constrained by a negative P/E that reflects ongoing losses and no stated dividend yield.

To see Spark’s full report on AEX stock, click here.

More about Aminex plc

Aminex plc is an oil and gas exploration and production company focused on the Ntorya gas field in onshore Tanzania, where it is transitioning from a development-stage explorer to a revenue-generating gas producer. The group’s strategy is centred on monetising Tanzania’s growing domestic gas demand through its interest in the Ruvuma Production Sharing Agreement and associated midstream infrastructure.

Average Trading Volume: 3,706,716

Technical Sentiment Signal: Buy

Current Market Cap: £96.11M

See more insights into AEX stock on TipRanks’ Stock Analysis page.