London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Great to hear MS... Good luck..
Fantasy, your part post:
" if I don’t trust the “management team”, doesn’t matter how good the remaining parameters are “I won’t be buying that share”.
This is exactly what I have learned and I rigorously adhere to it now.
Guess where I had the pleasure of learning that...
Indeed, here, with Vast and it's BoD.
QED - your detailed posts had been spot on...
When we research companies - we look at management team, financials, underlying fundamentals that makes the financials, assets, location, risks/reward etc.. for me one big learning is that if I don’t trust the “management team”, doesn’t matter how good the remaining parameters are “I won’t be buying that share”.
Leadership is key to success...
V111JAS - I hold less than 5% of my initial holdings... IMO it’s insignificant and have written it off... I have lost money in vast - we win some and lose some... I accept that. What I don’t accept is “misleading” from vast BoD. I have recovered most of my losses elsewhere.
Got to bring BoD accountable for their actions..
reasonable to assume I am unlikely to make money in vast... hope this helps.. GL
Yes maybe I should have baled out sooner but even I never thought it would be as bad as this as I was expecting some decent figures out of BP and the loan to be sorted by now, just proves what a useless bell end Prelea is.
gkb47 , Fantasy and some others :
I am a little surprised to see that you have retained a material interest here .
I know that over the years you have consistently questioned the integrity of this business and its officers through balanced , well considered and detailed research information .
I hope that you can find an acceptable and satisfactory conclusion to this appalling situation .
I just dropped in for old lang syne and the fact that for some obscure reason I still have about 100k shares here. That's about 10p worth.
Which I am about to donate to whatever charity it is that ii supports with zero value shares.
Just look at the share chart and compare it with the RNS over the last few years and you will see them for the "terminological inexactitudes" they are.
I saw Prelea in action a very long time ago at a presentation in London in the days of the two Roys (Pitchford and Tucker). The unconsolidated sp was about 1.3-1.5p, I had bagged and was expecting to make a lot more. Prelea made such an impression that I sold the next day.
What has happened over the intervening years has been the legalised criminal annihilation of shareholder value. There may or may not be anything in that thar mine, but if there is I am confident I know whose pocket it will end up in. And that is not anyone's on this BB.
Good luck all - you need a miracle.
Actually the deeper I dig with Vast, Prelea and Tucker the less I like. Bit of a giveaway that they never did a proper independant JORC and a PFS or DFS, which is what most proper mining companies do before moving into production. The way they hid the production figures until they had to admit them. The way the bank set conditions precedent which when met made no difference to actually getting the loan.
The way some Zim minister was going to sign up with Lucy but missed the bus or something. 18 months later he's still at the bus stop apparantly. In my opinion it's all been a big con hidden by smoke and mirrors.
The only question left now is do Atlas convert or call in the loan? Or will there be one last hurrah with a huge consolidation and placing and restructuring with promises of a new beginning and one of their other assets used as the next rainbow?
Thanks. Im really not sure? I can imagine the answer is in plain sight, only I cant see it. It was just a curiosity I had.
I do have this horrible feeling however, that we may all discover that Baita Plai isn't all that it has been made out to be.
The company announcements have become incresingly vague and secretive, that when I think about it, I don't really know what it is we actually have at Baita Plai.
Given that, It worries me that Andrew Prelea may/could have just potentially dumped a poor asset onto Vast Shareholders.
Using my example from earlier, if the 'Tribe' can dump a poor asset onto Vast Shareholders for an over inflated return of £1.4M, and that return is far higher than its worth, or could be gotten elsewhere, then surely it must be worth the tribe dumping the asset.
If the Tribe already know that the asset they've dumped isnt that good, then the Tribe would also know not to expect a return from the locked-in 60.52% and can therefore effectively discard it. At that point the tribe no longer have the drive, or the incentive they previously had (pre-acquisition) to actually steer the company.
Providing the tribe can maintain their secretive stance, and limit the information being released, shareholders can be dragged about paying salaries for what could later turn out to be a poor asset.
This is obviously all just a 'worst case' theory, but given what shareholders have witnessed over the years, perhaps there maybe some potential.
I believe we are still waiting for confirmatory drill results to prove up historic drilling done at Baita Plai.......I guess that's when we will know if the asset was worth the Tribe dumping or not? Or they could, like zagra drill results, drag them out too.
I'm not sure what it is with this company, but it just seems that the more research you do, the less you know.
Anyways, thanks again.
imo its no coincidence he got his claws into this fantastic asset in daddys back yard with all his connections over there. I posted a romanian article some weeks back that alluded to prelea sr having judges on side in romania
FAHP - Ditto.
Fantasy - Ok I'll add to my list of people and companies to be avoided. I'm tending not to invest in AIM listed Mining (or Oil & Gas) companies now anyway unless I can see a crystal clear route to earnings and a history of integrity and competence at board level. There are too many crooks masquerading as CEOs/CFOs etc. on AIM in my view. Mark Twain had them susssed years ago.
If you want info on bad companies to invest in I am your man. My previous investments include :/
To name just a few
I sold GGP at 2p, EUA at 4p too
As you can see I know my stuff on how to invest in crap haha
gkb47 - glad you didn't know them... RRL = Range Resources Limited; check out Peter Landau (not 100% sure of the spelling).. GL
Fantasy - RRL? Sorry who/what are they?
As I understand it, they have a lot of information and several larger shareholders backing the GM
They also have a lot of daming information, that the BOD would not want to be in the public domain
They also have very deep pockets to fight this, as well as bringing on a very high profile investagative journalist
Gkb47 - it is not impossible to prove.... Check out RRL's history and its CEO.. :) GL
rob - a lot of the evidence you need is in the RNS announcements made over the last few years. It's a case of comparing what they said in those announcements with what actually happened. It's pretty clear in my view that what I regard as misleading (to market) announcements were made. I support what you're doing but don't have any 'under the water' information that would help, maybe others have? The problem with these things are the time and costs of proving anything in a court of law, really the regulators should be handling that but they are especially useless in the UK. Too many vested interests in the City of London laundromat to really get a grip on things.
I do wonder who took part in all the placings last year????? Vast has convinced them. They can't be all fooled into placings. Or perhaps those who took part in placings are extreme risk takers and sees a HUGE HUGE potential in Vast like 10x+ returns.
Honestly, doesn't make sense that through out last year there were many placings but then the 2nd last RNS says Vast has not produced as per the expectations (estimates done by Craig Harvey).
Whichever lens one looks at Vast they must come to the same conclusion that the CEO needs to go as he had 3+ years at helm and have driven the SP down year on year.
I can give you some info too if needed Rob, I was in Vast for years :/
I'll email you
QED message me at robertsaunders99 @ yahoo com
QED Message me on my email robertsaunders99**********
We are building a case against the Company and would welcome some more input
Haha, I did over do it a bit looking back but I was so convinced by AP's lies that I just ignored all the warning signs.
If you can trade Vast like I was and make money then do it but be very careful and dont do what I did and over invest then get left holding the baby. Its taught me not to be so foolish at the very least but has cost me tens of thousands. I am the only one who knows, I havent even told the family this :/. Perhaps this board is a way to be honest with myself and all of you and hope I can at least help others not do the same.
All I am saying is open your eyes, look back at all the promises and ask yourself, how many have actually happened.....
I agree with gkb47, handcuffs should be used here.
It tells you all you need to know when FAHP, a previously well known uber advocate of VAST, so much so that I actually thought at one point he was Prelea or a close relative, but even they gave up and sold out.
I mean come on, when they got the licence they said 6 months to get BP into production, they then take almost 2 years to design the mine and plant, bought all this gear from China and yet 3 months after starting production it's all pants and needs to be automated?
Reminds me of Manaila - if we get those Trucks it will be profitable. BP - If we buy some more equipment it will be profitable.
Maybe those handcuffs should be real not imaginary the next time?
Great summing up of this shambles here.
Also VAST are now at 21 billion shares, good grief. Defo consolidation on the way IMO.
Such a shame as noted, I really believed in AP and this ****show, lost so much it hurts to rhink about it :/