Aminex PLC Reports 2024 Results and Progress in Tanzanian Gas Project

An announcement from Aminex plc ( (GB:AEX) ) is now available.

Aminex PLC has announced its audited financial results for 2024, highlighting significant progress in the Ntorya Gas Development project in Tanzania. Key achievements include the completion of a major 3D seismic survey, securing a 25-year development license, and signing a Gas Sales Agreement. The company plans to construct a 30-kilometer pipeline to the Madimba Gas Processing Plant, with production expected by mid-2026. Despite a loss of $5.30 million in 2024, Aminex maintains financial prudence with reduced overheads and a funding facility to support operations until gas sales commence. The Ntorya project is seen as a catalyst for both national transformation in Tanzania and growth for Aminex, with plans to double gas production over the next decade.

More about Aminex plc

Aminex PLC is a company operating in the energy sector, primarily focused on the exploration and development of natural gas resources. The company is involved in the Ntorya Gas Field project in Tanzania, which is a significant part of its operations and market focus.

YTD Price Performance: -2.27%

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Technical Sentiment Signal: Buy

Current Market Cap: £45.36M

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