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isas: I should say that I only raised it as a question - and I also allowed that it might be irrelevant. But the secondary market is being told exceptionally little, which doesn't instill confidence. That much is definite.
Sandy- your @ 14.32 on Friday sums up nicely the conundrum that is vast- It appears the position of Tucker and Prelea seems to be the issue with reputable institutions and spineless non-executive directors who couldn't careless is compounding the uncertainty.
Hi Sandy
The truth to your reply is so very simple each shareholder small or large has a say in how any company
should be run sometimes most private investors believe that it's BOD are running the show
Actually we had a AGM recently to vote 6th November 2020 shareholders choice
how many shareholders yet again fell in line to the bull shxt not to lose there investment @ 0.22p/@0.18/ 0.55/ averaged up or down
21 Billion shares so at that time its was 12 billion .
so in conclusion are the BOD worth there wage yes shareholders voted there the greats thing since sliced bread .
until reality kicks in and posters like " Qunit " come to terms this is a fucnk show and shareholders votes that counts
period .
Apparently, the first question that Warren Buffett asks when he looks at company is, "are the company's manager's competent and honest?"
And I guess we all know the answer to that with Vast.
IMO, good management can't save a hopeless cause, but it can make the best of an average set of circumstances. Bad management, however, can blow even a golden opportunity.
By the way, the share price of Botswana Diamonds (BOD) (Vast's erstwhile partner in Zimbabwe) looks like it is ready to blow next week. There was a big jump in volume today, and interest has picked up. In truth, it should have already reacted to the news from Thorny River that has come in over the last few months, but the market was strangely blasé about it - until now. Just a heads up.
Frankly this share price represents the potential assets of BP if there was a competent and professional BoD in place. It is held down by the lifestyle clowns in charge. It’s essentially last chance saloon - either Prelea’s last ditch efforts to have some real mining guys managing the show will work or it will go tits up by end of the year. Don’t bet against Prelea and Tucker taking this private either if they think it benefits them alone.
The 'explanations' become ever more bizarre
Mercurial - changed their financing policy at the last moment
Diamonds - missed signature twice by one day
Swiss Bank - silence
Tier 1 Bank - found - to their amazed surprise, after 12 months in depth due diligence, that the company had a subsidiary in Zimbabwe
Obviously, from Preleas point of view, it's job done, unloading an unfinanciable mine to be paid for by retail shareholders
buko: "And the company still can’t get anyone to re finance this amazing Aladdin’s cave with prices going crazy makes you wonder..."
Aside from the sheer joy of subtracting 6.1 from 4.9, and therefore realizing that refinance remains necessary, the point you make is also - IMO - a key consideration. Two banks, so far, one "Swiss" and one "Tier 1", have so far either walked away or at least not picked it up. Something needs resolving and all the market gets fed is vagueness about "Conditions Precedent" with a plural form that lacks any definition.
It's mid-April and we still don't know anything about where this process now stands. As my posts, I guess, make obvious lately, this is the part that I'm personally finding thoroughly unsatisfactory.
As for the new mining plan and mining management appointments, I'm all for that. Great.
But how will Vast stay solvent in Q3 and beyond? Bluntly.
And more bluntly still: would the banks rather see Tucker and Prelea go, whereas they refuse to? Or is this nothing to do with them at all? The secondary market is not being told enough to judge, which means the BoD is keeping this in gamblers' territory.
IMO.
Kidney
And the company still can’t get anyone to re finance this amazing Aladdin’s cave with prices going crazy makes you wonder...
"Increased demand and likely low supply are set to drive up the price from the current levels of around $9,000 per ton to $15,000 per ton by 2025, the bank said. "
https://markets.businessinsider.com/news/stocks/copper-price-outlook-demand-rise-goldman-sachs-sustainability-commodities-2021-4-1030304102