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Tj67,
hopefully we’re good to go now, Thr recent leak shows the wash plant is running, also having the guts of 300 miners ferreting away can only be seen as a plus,
We’ll just have to sit tight and wait for the update buddy.
in the mean time……
No news is no bad news….
Best
F
Firwood, I agree, also prepared to wait it out. Managed to average down to acceptable level. No doubt the bashers will continue to bash for a variety of reasons.
I would have thought staying afloat now is not an issue at all Sandy, Many of the development hurdles are cleared, unforeseen problems dealt with, (sure there most likely be more as with as my business) we are mining, producing, storing, selling,
Making money, actual profit as from this month so looking forward to the coming months,
This is the quiet period, quiet but busy and there’s a few months to wait until we get the news,
I’m lucky I do not have a timeframe with this and patience is something that will pay off here massively IMO,
I have my quota now, with some dry set aside so sitting this one out and watching the shenanigans of the BB unfold. I expect all the usual spacemen and their followers will be back here soon enough filling the place with nonsense, on the plus side the few that are here now will be long gone,
Happy Sunday
F
Firwood: mmm; if they can stay afloat, then maybe.
Sandy ‘Whatever is wrong with Vast, which is plenty, neither the asset itself nor the price paid for it are on the list, IMO’
Surrey this is the top and bottom of it bud ?
Fantasy and Sandy thanks for your input here, Plenty to follow up on, I do think Fantasy some of the points you make in your post are only to be expected within the development, I was sidetracked when following up as I came across some recent articles on Euro Sun and the eye watering costs they are expecting on their gold-copper asset in the area,
But they have put the figures out there, I am assuming investors here feel buttered up in times gone by, but benefit of doubt I am giving and not doubting my own decision to get in as I do not see much to make me think otherwise, things do come up and do not always go smoothly, best laid plans and all that,
Oh and also anyone who has ever had people under them (most of us I am sure) has told only what needed telling at the time for the greater good, that’s business eh….
So Yeah, Thanks guys, I appreciate your replies.
Firwood: "Was the value put on the mine back when AP took charge in comparison to the value today ?"
Prior to JORC, it was essentially valueless in accounting terms, or a net liability due to costs even if they did ascribe a nominal sum. So when AP became CEO, the issue of valuation had not really advanced.
Historically, a group of people who were informally AP Mining Group, and who later incorporated as such, had bought up the mine and approached Vast. Vast initially said "No", then wanted a little bit of work done first, then bought 80% of it off the informal AP Mining Group for the insanely cheap, token sum of about 600k euros - effectively to cover what AP Mining Group had spent on it. Hence the deal that Vast, having picked up a huge mine for basically nothing, would shoulder the cost of developing it. A very good deal for Vast, and remains so, whatever anyone has to say about dewatering costs (which all underground mines have, btw).
The recent JORC is the first basis on which to assign a value that can meet any serious accounting standard. As you know, that's nominally $104m and only reflects a limited part of the mine.
Whatever is wrong with Vast, which is plenty, neither the asset itself nor the price paid for it are on the list, IMO.
Hope that helps in some way.
When AP took over...
Sp - 0.55p or 55p
Market cap - £35m
Producer in both Romania and Zimbabwe jurisdictions.
PP, gold asset in zim
BP mine was probably valued close to nothing when AP took over.
Bp after AP took over; huge dewatering costs, become a liability.. money spent on upgrading resources for documentation and funding, haven't produced much.. Due to incompetent board, not much value added.
market currently values BP - well less than £10m, based on current SP. Huge potential but a useless and incompetent board. 10x0 comes to mind..
BP shambles... AP mime show...
- dewatering costs
- resources upgrade documentation costs
- bridge issue
- operational issues and haven't produced as planned
- revising mine plan after start up..
- delay in recruiting key resources, failed with original mine plan and then recruited mine manager and process managers..
- failed to secure funding
- add opportunity costs on over 2 years delay since licence was awarded..
And finally we are all waiting in hope to see what the production numbers will look like..
GL
Was the value put on the mine back when AP took charge in comparison to the value today ?
Grown up answers only please….