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APD, jimjam, chrishutch, Fantasy thanks for your commiserations.
After 5 years I would have thought my investment would have at least come good or broke even but hey now the traders are in there’s very little hope left for me left to see a ROI. Unfortunately just like you fantasy, I have nothing left to average down and it’s been the LTH and hard earnt savings that has supported the company through placings/ positive developments / reduce its liabilities / pay for the JORC ( As an international standard of accounting it appears it’s not worth any company doing by proving its value or resources) which is shown by the MCAP / SP) & supporting the company into production.
- If reviewing the equations of the JORC value and looking at previous years liabilities (2015+) through all of the interim/financial results and looking at the timeline of the respective sp/market cap. The major reduction in losses & liabilities / ‘The Market’ has only declined the MCAP / SP further than having a JORC compliant resource and an operating mine in production (unlike many shares) regardless of the additional shares in issue.
This is where I appreciate what has been necessary by the Vast Team / AP & AH et al. / And the company is finally beyond the crossroads.
Having started with nothing in life and made my own way, unfortunately time looks like it’s soon to run out and with my portfolio practically worthless and no reserve to draw upon It’s the team I work with I feel most for.
. I would just like to finally say well done to Boris for levelling up the country. (Reminds me of that bulldozer he was driving with the ‘Get Brexit Done’ slogan!!
Having a bad week this week, but I am usually ever the optimist and try and instil positivity into the lives of others. Rather than taking the easy ‘default’ mode everyday / I would use the stairs and make positive steps for myself and others. Maybe this weekend I should just play the lottery.
All the best.
B3NTL3Y
@B3NTL3Y, so very sorry to hear about your situation.
@kingsley16, I see it the same way as you :). I feel even in 2nd half of this year, Vast will improve significantly. And by next year (if not this year), the extended exploration target and JORC would have been confirmed either way, if then find more goodies or otherwise.
Stating the obvious, we need BP to generate as much revenue as we can for the rest of this year (we really need the next results update to show BP has generated revenue beyond the estimates produced by Craig Harvey & market WILL respond to that) and this cash be used to restart Manaila if Vast's BOD see value in it, and start Zagra as a JV, etc....
Cash is king and we need so bad at Vast through revenue and not through more placings.......
GLA.
Another couple of years and all will be good :)
Its been a long hold for a few here Fantasy !!
B3NTL3Y - sorry to hear about your situation. I am also one of the long term sufferer, I mean long term share holder of VAST. Have an average of 0.42p and I have not added or not bought VAST for the last 2 years. I don't have to de-ramp VAST, that job had been done by VAST BoD for the last 3 years - through various failures.
Hope your personal finance situation gets better. Good luck.
Best Regards, Fantasy
Ps. Fantasy and Others. Please be mindful and show some empathy to all the long term holders here who have stood by this company to support it to where it is today. As it is 10 x the company it once was, and the SP has been decimated in reverse to where it once was by the market even with all of its positive developments / JORC / proven resources / assets and reduced liabilities.
Just a shame that personally for me having stood by Vast and my investment, my own company is now potentially going under and I am potentially facing bankruptcy. So I may never recover or get to see any return from my 5 year investment in VAST or any of the hard work or money I have put into my own business, which supported my own team, suppliers and many others.
Best regards.
B3NTL3Y
Sounds like an agenda to there Fantasy.
I have been here 5 years. Almost lost everything I put In here. Partly that the market cap is in no way a reflection of the company’s assets or worth.
Not only that, but my business is also soon about to go under due to covid. But hey, not even I would be able to recite all of the detailed timeline in your post with such clarity there Fantasy and I have been here a lot longer than you. Sure your not a Market Maker with a notebook?
Well the interim results were before vast started production (upto 31st Oct). So old news.
Since then Vast are now in production and producing revenue and are one of the lowest cost mines/producers in Europe. - What is long term holders have stayed and stood by the company for. I still have my trust and faith in AP and AH. Personally, I look forward to consolidation of the shares and reducing the liquidity - making the company a lot more attractive for future II’s
Although I have suffered significantly. With all that has been necessary to shore up the balance sheet, eradicate losses and limit the liabilities over the past few years - which is clearly been accomplished,
Vast has now turned the corner into a cash flow positive company with a revenue producing mine which should shortly be ramping up production. The next set of financial result will Clearly show the above.
In the near future I can’t see why we can’t just pay off the Atlas finance outright with the revenue from 2nd or 3rd or 4th shipments and funds raised from the recent placing.
Following that, have the additional option of preferred finance from a Tier1 bank or institution to propel the company forwards. My research and experience would suggest the likes of the EBRD (European Bank for Reconstruction & Development) would suit quite nicely along with Europe’s 1.4 trillion stimulus package would suit quite nicely.
All the best LTH’s.
B3NTL3Y
For all the newbies.. Reasons for why - we are here today at 0.11p? 3 years of failures from VAST BoD...
What AP delivered?
- BP licence
- Mercuria Tranche1
- BP to production
- Probably more to the list people can add, but nothing significant or strategic for now
Why it will take time for AP to build any trust… Poor delivery vs promises over the last 3 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 $1500 for restructuring finance (??)
- 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 20b+ shares. Share price from 0.55p to 0.11p.
- More than 80% reduction in share price under his watch..
- There is more to the list and I am sure people can add
What AP couldn’t do this so far - Finance
- Proper Debt Finance facility: Now that he raised more for further documentations, better deliver debt finance facility (FAILED spectacularly)
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 20b shares whilst reducing by more than 80% reduction (from 0.55p to 0.11p) – I have every right to sceptical of VAST’s BoD.
This is my view or opinion only based on last 3 years with VAST. Please Do Your Own Research before buying or selling.
Fantasy