aminex agm presentation, page-10

Some interesting comments by an Aminex shareholder that was present at the AGM:

Nyuni - much talk about the reserves, contingent and prospective - see slides - KN1 is the intended hub and locality (2 - 2.5 kms from the plant and thus pipeline) very useful - a decent map of the island was shown including the airstrip. SW10 raised a potential query which was the right by Aminex to use the pipeline. There proved the benefit of the directors intermingling with analysts and shareholders for Didier Murcia was seated near me which meant that as the meeting closed I was able to get confirmation that the AEX rights are contractually safe and not only that "government guaranteed"

Also whilst there had been the comment by BH that with regard the planning permission impasse, that had arisen because a regulator had been appointed who was doing a particularly thorough job, out of say 100 highlighted initial problems that needed to be resolved, it was now down to one and that revolved around an arbitration clause and venue (Switz, USA etc).

There again Didier M was useful in that he is a former lawyer and he advised me that the point was an" in case point should say an arbitration be needed 20 years down the road". DM said that the board had indeed hoped as late as the day before the AGM that they might have positive news on the point for shareholders at the agm but alas that was not to be. BH had said in forum that the news could come next week, the week after etc. and he could not put a time on t but that the matter would be resolved in the interests of all parties. Indeed it is difficult to know when luch might be n Tanzania. DM also made the point to me that AEX was being protected by the regulator but that was not said as if AEX were getting special treatment - just that the company is not being forgotten.

http://www.stockopedia.co.uk/content/aminex-agm-9-june-2010/42393