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qd22 - good luck in whatever you decide to do.. :) hope it works out for you. Best Regards
Hi Fantasy. Why did I think you were not a holder? I interpreted "Before anyone starts, no plans to buy, not touching vast with a barge pole" as you not being a holder. Looking at your other posts I do see that you hold, from a long time back. Well, I wish you good fortune. This could I suppose explode [either way], but yesterday I did something I have never done before: quickly sold what I had bought, at a loss. I hadn't done my research properly, didn't realise how dicey the management is. I have held companies to the bitter end before, with dubious management, for a story I believed in, and lost the lot. That's OK in a way, but it's simply a gamble, risk/reward that goes the wrong way. There's an element of that in every investment, and sometimes they go the right way. But do I need to do it with a BoD I have no confidence in? It makes it only about money, and I don't want to be like that. I don't want to be simply gambling, for the money. I invest in things I believe in, and I think that should include the management team as well. There's enough alternatives out there not to have to sit in what feels to me like a muddy pool. I realise some people won't think much of this, but all the best anyway! Best wishes to you all: I hope it does well.
QD22 - where did I tell that I am not a holder of vast shares? Unfortunately I hold - albeit very small and have written it off awhile ago.. haven't bought vast in the last 24 months.. GL
The reason they do not want to publish quarterliy result is because they are abysmal! They think by not publishing them it will allow the mc to stay up but what they fail to take into account is investor confidence and mistrust by not publishing the result and be transparent they are adding fuel to fire and hence sp at 0.0825p a far cry from where it was even two years ago. The countless placing when taken into account doesn't make it a cheap operation, maybe for new investors. LTH who are still holding probably shoved to the bottom drawer and whether they buy more is another matter......
Hi Sewing Machine!
Speaking as somebody who has just done very well off RMM - there are two big difference between the two companies.
1. RMM have refinanced and wiped out their debts.
2. RMM have credible proven management.
IMO, Vast have no future under the current CEO and board. They are proven failures - AIM lifestyle directors of the worst sort. Leopards don't change their spots.
Fantasy thank you for all your time putting down your views, given that you are not a holder. Others too. You certainly know the history, and it's appreciated. At the moment this is exactly what I see a BB as being for: differing views, expressed with the reasoning, and without slanging. Usually the opposing views are few and far between, and tend to get shouted down. So thanks to all.
It's one to watch like a hawk...
Seems a fair assessment. I read through the investor presentations since 2015 y'day. Projects appear and then just disappear from the list until all they have is BP. Last chance saloon.
People like a cusp though and so more people will be drawn in.
VAST feels a bit like RMM. VAST sh have been suffering longer and deeper though.
RMM had a complete change of Mgt at the top. VAST has recruited at the mine level.
If they have a mine I suspect the people now in place can make it work.
If only the BoD were brave enough to publish Qrtly production numbers
Before anyone starts, no plans to buy, not touching vast with a barge pole
For all the newbies.. Reasons for why - we are here today at 0.08p? 3 years of failures from VAST BoD...
What AP delivered?
- BP licence
- Mercuria Tranche1
- BP to production (lol, well mediocre so far)
- 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 0.08p.
- More than 80% reduction in share price under his watch..
-Appointing mine and processing manager 6 months after initial start? Doesn’t have a clue how to run a mine..
- 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 21+b shares whilst reducing by more than 80% reduction (from 0.55p to 0.08p) – 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 b