Aminex falls as US sale plans delayed further
Aminex, an exploration company focused on East Africa, fell after it said a planned sale of its US assets had slipped back into 2013.
Aminex, an exploration company focused on East Africa, fell after it said a planned sale of its US assets had slipped back into 2013.
The firm also said talks over a $15m loan, repayable from the proceeds of the sale of the US assets, were ongoing and were expected to be concluded "in the near future".
In the first half of 2012 Aminex announced that it had launched a marketing programme to sell its US assets so it could use the capital for exploration activities in Tanzania.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
However, it subsequently suspended the marketing of the US properties and now expects to resume it in January 2013.
It had originally planned to complete the sale of the assets in the fourth quarter.
Chief Executive Staurd Detmer said the firm's plan to focus on Tanzania was an ambitious one that would help it become one of the leading companies in the East African region.
Shares slipped 6.8% by 09:45 on Monday after the announcement.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Global equities that should weather the stockmarket's storms
Opinion Alex Illingworth of Goshawk Asset Management highlights three diverse opportunities in global equities despite a turbulent landscape
-
8 of the best houses for sale with dining terraces
The best houses for sale with dining terraces – from an Arts & Crafts property in Great Missenden, Buckinghamshire, to a duplex apartment in a garden square in Kensington with a decked roof terrace