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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%
Average Trading Volume: 2,997,384
Technical Sentiment Signal: Buy
Current Market Cap: £45.36M
For detailed information about AEX stock, go to TipRanks’ Stock Analysis page.