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Think goes little lower yet
Waiting patiently
Target is 0.4p by end of August.
Got best sell price this morning and gradually getting walked down
Won't see as low as 0.17p-0.18p but got 5m and 15m chart looks to want to go lower.
Tick down by 4pm maybe
Goldm1ner, I'm not saying whether I consider these better or worse run companies than VAST, but here's five producing AIM companies with a lower mcap - I'm sure there would be others
BRD, WRES, EDL, ATM, SML
The key question,imo, is whether they are/will be profitable at topco level
Fantasy thankyou I could not have put it better. Baits must be an employee to have wriiten what he did.
GL.
If you don't like sticking pins in your eyes, you can stop at any point. Similarly, if you find Vast so painful, you can always stop being invested at any point if you are at all. we are about to have a production announcement very soon with Mercurial's offtaking what we have actually dug out of the mine at BP. As a miner with an MCAP under £30m that isn't too bad in terms of "delivery". Name another producing miner on AIM with a lower MCAP?
Think we see a pullback in the short term.
Bid lower than first thing in the morning
Funds ready if we see lower
Baits/MRRR,
Yes – I have no problem with placement in aim market.
People miss the point:
Placement with delivery = no problem
Placement after placement without delivery = not acceptable..
AP has issued nearly 7b shares and raised £13.2m – we don’t even have the production confirmation via RNS… :)
If you invest in an AIM company and are bothered about placings then this is not the place for you.As anyone in here had an AIM company share that did not do a placing at some time or other.Even an IPO is a placing and without there would be no shares.Anyone in here ever had a share that only went up and never went down.I am afraid that is the risk we all take at some time if you can not stomach a placing put your money in the bank and have a good nights sleep.
gkb: you are mistaken.
Morningsun wrote "Ran quite a few businesses myself and I can assure you", going on from there to set out a purely offhand negative view.
So to be absolutely clear, MS laid claim to be in a position to give assurance on the basis of his expertise.
That is what I am querying. *He* claimed to be in a position to "assure", on the basis of what he said he had done "myself" (i.e. himself).
Thus MS did make it about himself and now has no answers to give.
gemstar: we'll see about re-finance. In all honesty, I don't care either way. If Atlas got to work through the entire lot at 0.24 the company would have not debt to service. And the bid would be higher than it is now. Probably not what will happen, though, to the relief of traders.
Judged on their record, I have no confidence that this board will be able to refinance the Atlas $7m
I am expecting $3.5 to be refinanced by a yet further placing
And the other $3.5 by debt finance
'ever expect that level of detailed insight '
Normally I agree
But when the whole future of a company is dependent on a couple of paragraphs in an agreement, I would expect it to be properly spelt out
Morningsun: "This is not about me Sandy and you know it and that is why you ask."
You were happy to make it about yourself when you claimed to have personal expertise from which to form a judgment. It is reasonable to want to know specifics. Of course you don't provide them.
Sandy, I understand your approach as that is always the easiest to defuse a situation. Ask for other things than what actually matters.
This is not about me Sandy and you know it and that is why you ask. I have been very positive in the past about AP and you can check that in my history. However, I have always maintained that AP is a deal maker an not a CEO. That is exactly what is being proven here.
He should have never, ever made all l these promises that he has made in the many podcasts over the years. I realise many new investors do not have that history with AP, but I do. And yes, I believed it too, for a while at least.
If you have any experience in running a business this is not the way to go about it.
So, by all means measure AP on his delivery to what he has promised, promises at the moment and what he promises for the future, as he has not done much of that. But don't try to be a cheap shot and make this about me. A good CEO is measured by what he delivers, not what he promises, and if they don't deliver they go. That's the corporate way of things. Unless you think that the CEO of let's say RIO, another mining company, makes the same losey goosey promises with jam tomorrow and no delivery as AP does. Please show me where these corporate CEOs have done anything remotely like what AP has done with our money...
MS
Morningsun: "Ran quite a few businesses myself".
I'm interested to know more, as you offer this as a basis for what you appear to imply is a qualified basis to judge the CEO's performance.
What were the SIC codes of the businesses? This is non-identifying information but allows an understanding of the fields you worked in.
What was the HMRC tax classification of the scale of these businesses? Micro, small, medium, large? Again, non-identifying but relevant.
Where there any overseas subsidiaries?
What was your role when you "ran" these businesses?
Thanks in advance. I'm sure you'll understand my asking. Some naysayers like to claim to be experts in all sorts of things just to lend a moment's credibility to a cheap shot.
Assuming you are better than that, and open to a real debate, I look forward to hearing from you.
That is a funny one there Mijas.
Ran quite a few businesses myself and I can assure you that in a normal operating company AP would have been sidelined a very long time ago, mining or non mining.
But here that matters not as AP runs a lifestyle company so he can do whatever he wants.
MS
Ah, the green filter strip.
"This message has been filtered, please adjust your filters to view".
Nah, my filters are just fine thanks.
lol - why people are getting nervous, sweating and swearing... probably too hot... :) GL
caselogic: "if you guys are such brilliant investors and/or mining experts then why the hell are you bothering with vast.......if its such a pile of rubbish".
Their problem - which they've proven by their own remarks - is that they're very poor investors and don't actually know anything much at all about mining.
It's no wonder they make losses and it tells you all you need to know that their solution is to camp out on a BB ****king off all day.
It will become a lot harder to throw doubt on production when we're selling concentrate - but then I'm sure they'll find something else to **** over.
you gotta laugh
can you people, fanatsy and others who just berate the board every day with the same constant drivel please tell me why you are invested here......
if you guys are such brilliant investors and/or mining experts then why the hell are you bothering with vast.......if its such a pile of rubbish
the fact is that you could pick any Aim company over a period of years and trash the co and the BOD for a whole range of reasons.........
yes AP is crap but thats who's in charge so either suck it up or bugger off......
Place**.
Another one of his bs was when he done a placing a few weeks after the bp license was granted and he stated he wouldn’t do a placing at that level again which was .50. This CEO is definitely on a par with the prem and has zero trust in whatever he says
Spot on fantasy well said, that’s a very accurate description of how things have gone from a woeful BOD and CEO. I plan to go to the next AGM where’s there no hiding pave there and boy won’t he be coping it
castaway or 2pbyxmas - one of the vast crew.. you lot are disgraceful :)
world class assets but useless BoD and amateur CEO... haven't got a clue what they are doing, except for placement.
What AP delivered?
- BP licence, Mercuria Tranche1, Getting BP closer to production.. waiting for RNS confirmation
Why it will take time for AP to build any trust… Poor delivery vs promises over the last 2.5 years…
- Where are all the money raised going and what are people working for VAST doing?
- Expanded too fast and too thin. Wasted precious resources on “non-strategic assets” and ran out of cash. No strategic thinking, no risk management and no prudent cash management
- $1m raised for diamonds? Where did the money go?
- Money raised for Manaila trucks? Where did the money go or where is the truck?
- Headroom requested for one and used for others
- BP in production within 6 months of licence approval BS. Continued to be a liability – huge de-watering costs which was multiplied by finance delays.
- Mercuria 2 failure and Bergen saga.. All “ON TRACK” BS and eventual failure. We will not convert Bergen BS and Bergen did.
- Finance; we have option a, b, c and d. But couldn’t get any.
- Corporate Finance restructuring to balance books BS. Look at the shambles of current financial position.
- Sold PP at the wrong time, look where the gold price is above $2000
- When finance package was announced in Oct-19, AP said no more dilution in podcast (unless until he gets a lucrative concession... etc). VAST did a placement straight after.
-Remember the twitter of few videos in Dec-19, apparently China equipment was not needed but VAST using refurbishment equipment (false dawn on restarting mine)
- We are always on cusp of something.. cusp of signing diamond (not VAST’s fault), cusp of arranging finance, cusp of BP production, cusp of turn-around.. for only the cusp to disappear after few weeks.
- Placement, placement, placements…from 5.1b shares to 12.2b shares. Share price from 0.55p to 0.20p.
- More than 70% reduction in share price under his watch.. (While all along AP’s BP 20% is undiluted or unaffected)
- There is more to the list and I am sure people can add
3 things AP must do;
- Proper Debt Finance facility: Now that he raised more for further documentations, better deliver debt finance facility.
- Production by Jul-20: Progress had been made at BP for production in Jul-20. Need confirmation.
- Lay out revenue generation plan: (from slow start to ramp up of course). Deliver against the revenue generation plan. No point in starting a mine, if you cannot generate revenue.
Of course there is opportunity with BP mine – copper, gold, silver and molybdenum… fabulous grades which supports the historical data. And one of the reasons for me to buy VAST roughly 3 years ago. But if I had diluted from 5.1b to 12b shares whilst reducing by more than 60% reduction (from 0.55p to 0.20p) – I have every right to sceptical of VAST’s BoD.
DYO
Having said all that if the Diamonds are signed off this will easily see 1p +
Given the snails speed it's taken to get this ONE asset to production it's going to be a decade for the other assets.
But agree it's undervalued but only by 30 mil. Big deal.
I didn't state VAST was a mic cap, I was stating VAST is way undervalued. The company may be a mid cap in a few years with Remin mines, Zagra, Blueberry, Marange, Carlibaba. The potential is massive and VAST has copper, gold, silver, zinc, lead , molybdenum .
Way undervalued - look to the future.