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Starting to ask myself why I bought in here, I like mushrooms but that does not mean I want to be treated like one. JJ
And as I just said, Fantasy, an update would make most sense when we have the refinance details, as that is a key element to determine the payback period.
PDF from Jan-19? :) well - put it this way, when VAST claims to start production in Jul-20 within a month - it would be good to get an update on timings and plans for the coming months (rather than looking at Jan-19 update). It will reassure shareholders.
GL
Fantasy: unless the ramp-up plan has changed, which we haven't been told, then it remains as at January 2019.
See 'Indicative Production Plan - Projections' at slide 6:
http://www.vastplc.com/wp-content/uploads/2019/03/2019-production-portfolio-29.01.19.pdf
Operational profit in 1 month from production.
Payback from 8 months of production (= 14 months from drawdown of finance).
I wouldn't be surprised to see an update once we can underpin it with a definite picture of the refinance, to clarify the payback timeline.
Thanks for your replies..
Look everyone has got an opinion what production number will look like and when we will achieve full production. To avoid all this, VAST need to lay out a plan. So far, VAST has kept shareholders in dark in regard to production numbers. Why? Commit to numbers and deliver. If you cannot commit to numbers, again come out and communicate - so the shareholders know the reality.
GL
I think MRK said first full month of production, not first month of full production. They are different
Full production not until November?
not 7000 in July, we only start production end July. So look for August as first full month of production. I look forward to updates on quantities.
maybe.......
but the kits arriving so we must start producing at some point..........possibly :-)
Fantasy, if you go back to the old videos you can see a lot of the old equipment was refurbished to assist with the startup. However in the video the staff at the mine said that a lot of the old processing equipment was substandard and led to the closing of the mine back in 2013. The new equipment is going in to increase the production capability of the mine.
something doesn't add up... VAST can start the production for 7000 tpm now, but chose to wait for Chinese equipment to ramp production to 14000 tpm? With Chinese equipment would we hit 14000 tpm from month 1? Time for VAST to clarify what they intend to produce.
biglad: production is due to start by end July. GL.
All, I`ve been here for 3 months and invested a few grand really on the opening of this mine in Romania. I`ve read all the bull that has gone on in previous years about stuff thats taken ages or has`nt happened, eg diamonds in Zimbabwe which quite honestly would be a bonus, although looking at this lot I wonder even if they`d get any out of the ground.
My simple interest having bought at .2 is when is news officially due on the BP production, I seem to think its the end ofJune. Is that right ? Is that assay results and do they expect to go into production in July. Obviously all these things will have a positive effect on the price. Any announcements on diamonds would be a bonus. Given I`ve bought in at a low price I`ll be out of here then as like us all I`ve been caught previously with stuff thats taken years, never materialised and paid the directors kids school fees before the ineveitable delist. This I actually expect to be better at least in the short term.
Fantasy: I can understand your point there.
I think if we had had an order before China locked down in January, and that order was then cancelled or put on ice, then all of that commercial news would have needed to be RNSed. (China is the key market, including for Mercuria.)
But the China lockdown happened while the finance was being finalized into January, so no existing orders got interrupted because we never *quite* got to the point of receiving first order.
I agree that a clearer sense of the impact of Covid would have been appreciated by investors. But to be fair to Vast, most companies are being as tight-lipped as possible. I can understand that too.
Sandy - understand your view point.. The way I see it is, decision on NOT to continue with 7000tpm is materialistic info and should have been RNSed?
Fantasy: the RNS phrasing remains true, I think. The *capacity* on the old equipment is 7,000tpm: they just didn't use it because they had no orders. Ramp up to 14,000 *after* new equipment is still the plan, per the RNS.
As for the market demand, that's not an "assumption". It's just a well-known fact about the metals market in H1.
Sandy - understand your reasons on covid, was that info RNSed by VAST or is that your assumption? If it is not RNSed, why not?
Fantasy: "What happened to 7000tpm with existing equipment?"
I believe the Covid lockdown created a temporary glut in proportion to the immediate demand, so we had no chance of selling product. Hopefully we can move relatively quickly to the 14,000tpm target, now that production will be with the new equipment in place.
How many more lies? Initial trial production is expected to be shortly. What happened to 7000tpm with existing equipment?
Vast Resources plc, the AIM-listed mining company, is pleased to announce the cold commissioning of Baita Plai Polymetallic Mine.
Over the past year (since the association licence was granted) the mine’s infrastructure required for the cold commissioning including the electricity line, tailings pipe, mills, crushers, floatation line and equipment has been either upgraded, refurbished or has been replaced.
Initial trial production is expected to be carried out shortly. The current cold commissioned capacity is up to 7,000 tpm and will be progressively ramped up after the arrival of the new equipment from China in January to 14,000 tpm in accordance with the project plan.
Photos and videos of the equipment are available on the Company’s Twitter Page and will shortly be available on the Company’s website. Both links are provided below:
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/cold-commissioning-of-baita-plai-polymetallic-mine/20191216070000H9319/