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Well hope you are right as lth ate moment I am seeing a trend of lower lows testing support levels I did not think possible......
Hey no probs Fantasy. That is how you see it and OK by me. I should have made the tenth point so they were in tablets of stone. Never mind. They are my reasons for investing in Vast but I have invested at these low prices so I can appreciate others who have invested at higher prices and may not feel so positive. The company seems to be turning a corner and if they continue this path we may well be on the start of a journey with considerable upside. The key is to start producing and generating revenue, as Sandy rightly pointed out. This is an actual producing mine so the wait for things to turn around imo will not be too long.
I ompletely agree that it is an extremely low price with huge potential. Due to historical issues there is a lack of confidence and an opportunity for AP and the BODs to reinvent Vast to a major copper producer with some sprinklings of gold and hopefully sparkle of diamonds. I firmly believe Vast are an excellent investment opportunity but patience will be a virtue.
Dave - should have added 1 more point and claimed it as vast’s 10 commandments..
There are 2 things as far as Vast is concerned 1) Jam tomorrow and 2) BS...
Based on what you have written, please see below how I see it...
1) yes, but jam tomorrow
2) jam tomorrow
3) BS
4) jam tomorrow
5) jam tomorrow
6) BS (mother of all BS)
7) BS
8) yes but jam tomorrow
9) BS and jam tomorrow
Nothing against you Dave.. GL :))
Point 6 had me fall off my chair laughing.
maybe the banks will change their tune now vast are generating some real revenues........as you say hope springs eternal :-)
i'd like to see some real revenue numbers before i buy any more
Dave: yes, I'd basically agree with that. I don't think Atlas really want to be saddled with a mine so, despite holding it as security, I too suspect that they would lean to renegotiate. But as you say, far better not to come to that at all.
Anyway, these sorts of issues are IMO good points for one's own risk awareness and risk tolerance. This is a very, very low SP and hope in Vast springs eternal. (As do its custard pies in the face.)
Ty Sandy for your informative response regarding the company's cash position. Whilst a refinance is obviously high on the agenda, I maintain imo that a part settlement with Atlas in Jan 22 is likely to suffice with new t&c's highly favourable to Atlas for the remaining outstanding amount. It would, of course, be better and more favourable to Vast if they get a backer prior to Jan.
Hi Dave: refreshing optimism and I agree (at least somewhat) with a number of your points.
But the company has itself already set out a more sober cash position.
RNS of 30 March 2021: “Net operating cashflow forecast before debt, tax and new capex: $4.9m 1 April 2021 – 30 April 2022”.
RNS of 24 October 2019: “The [Atlas] Bonds are issued at 90 per cent of their par value, bear a coupon of five per cent per annum and have a maturity date of two years from the date of each issuance”.
To date, only the first issuance has occurred because the other three are ring-fenced for diamonds, which haven’t happened. The first issuance was January 2020 and the par value is $7.1m.
On the good side, I think I was wrong in some of my recent posting, where I’d misremembered and thought that Vast received $7.1m and owed an extra 10% premium (about $7.8m total) to settle. On re-reading, this appears to have been a mistake on my part. So Vast would repay $7.1m (not $7.8m), having received about $6.4m (not $7.1m).
Of the $7.1m, Vast has repaid $1m principal (and sundry interest).
Needless to say, and this point that I’ve made still stands, $4.9m in net cash before debt, down to 30 April 2022, is not enough to cover the Atlas bond, which expires in January 2022 – and all of which, by now, could be converted if Atlas were to choose to.
So the continuing search for a refinance remains very important. They did not get the "Swiss Bank" in 2019, and did not get the "Tier 1 Bank" in 2020. (Before anyone digs up Mercuria B as well, forget it: a thousand times over, not Vast's fault. But the two banks, definitely concerning.)
The challenge here is that they really do need to deliver a proper cash settlement - and no amount of crowing about copper prices will change that. Perhaps the mining plan and professional mining management team now appointed will get it over the line...
GL holders.
Ty. We will have to wait and see.
Hi guys. Here is my first post. I have been following this BB over the last month. I have a significant investment and just topped up again today. Whilst this is currently an out of favour share, the time to invest imo is now. There are several reasons for this :
1 The price of copper will increase significantly as demand outstrips supply to replace oil with renewables.
2. This company is implementing an automated approach to mining, significantly reducing labour costs and have now employed experienced managers to oversee the smooth running of such an operation - the cheapest copper producer in the world.
3 The Atlas loan, which is relatively low, as well as the Mercuria loan will be paid or extended as production increases and copper prices rise - the new oil according to Goldman Sachs
4 Vast remember are sitting on previously mined copper that has not been processed which will certainly provide an additional cash boost.
5 Vast are a producing mine at BP that will ramp up operations over the course of the year- no ifs, but or maybes as some mining operations.
6 AP and other BODS have shown great vision to implement an operational plan at very low cost.
7 No danger of running out of cash as there is a guaranteed market with rising copper prices.
8 Vast have other copper mining tenements in Romania other than BP.
9 There will be some positive news regarding diamonds in the near future.
I believe Vast is currently turning the corner from past difficulties and are restarting at rock bottom prices with all the signs that everything is going in the right direction with potential for high returns for those willing to take imo an excellent calculated risk.