In a newly released note, Shard Capital has significantly upgraded its 12-month price target for Aminex PLC, citing the company’s transition from speculation to execution. With construction now underway on the $50 million Ntorya–Madimba pipeline, the path to production is clearer than ever.
🧱 It’s No Longer “If”—It’s “When”
Shard opens their report with a bold shift in tone:
“It is no longer IF, but WHEN…”
That sentiment reflects the milestone announcement on July 7, when Tanzania’s TPDC confirmed investment in the pipeline, connecting Aminex’s Ntorya field to national gas infrastructure.
This development transforms Aminex’s narrative—turning a high-risk frontier explorer into a tangible energy growth story, linked to the rise of East Africa’s economy.
🎯 New Valuation Target: 3.25p–3.70p
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Previous target: ~2.3p
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New 12-month target: 3.25p to 3.70p
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Low-end: Assumes Ntorya production ramps to 280 MMscf/d by 2036
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High-end: Assumes plateau is reached three years earlier, by 2033
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This revaluation reflects faster expected development and improving investor confidence.
🔍 Peak Valuation: 6p–7p Based on NPV
Shard goes even further with its long-term outlook:
“We currently estimate a peak NPV/share value in the range of 6p to 7p as the company reaches its peak production.”
This figure factors in full plateau production and future field development (Phase 2), making Aminex particularly attractive for long-term growth investors.
⚙️ What Will Drive Short-Term Re-Rating?
Shard identifies two key catalysts that could drive further upside within the next 12 months:
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Visible progress on the pipeline
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Successful drilling of the Chikumbi‑1 (CH‑1) well
Both are scheduled to occur before mid‑2026, aligning with Aminex’s roadmap to first cash flow.
📣 Final Takeaway for Investors
With pipeline construction confirmed and the CH‑1 drill now scheduled ahead of first gas, Aminex has entered its most investable phase to date. Shard Capital’s latest analysis reflects this turning point, offering institutional-grade endorsement of the company’s trajectory.
🔺 Target Range: 3.25p–3.70p
🚀 Peak Potential: 6p–7p/share
For investors aligned with East African energy growth, the case for Aminex has never been clearer.