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portfolia
it's very difficult to get properly funded,in the mining sector,via bank type loans
few manage it.
but once the comp,can prove,it can mine profitable,thenthat could change
failure rates are high,that's the problem,with this sector
Portfoilio
it was on another website,where a load of traders hang out.
out of 15 of them,that were posting on that day,everyone was throwing the kitchen sink in,thinkit was around 0.30,although i think,it did go a tad lower
then when it hit just over 2p,they started sell,so i did the same.
i was already in here,so i didnt have a kitchen sink,but managed my grans piggy bank.lol
then last week,they piled into eqt,on those high vol days and sold a few days later
Calm down, Firwood. I've just said that I expect Vast will navigate it's way through the May payments. Plus, you are bundling different posters together (some of whom are not even posting at present, e.g. ericeric) and suggesting we all said the same things. We didn't.
Relax. Feel free to talk facts. It's a *discussion* board.
@Troajan
Similar to you, and I noticed you getting in around the 0.45 area as I did, and I reckon you also banked a tidy profit well above the 2p+ range when the Davy Jones locker RNS landed :-)))
I did the same.
Also grabbed a few in the 0.65 range recently and then sold at 0.95 as I stated that i didn't want be battling against the sellers.
Both proved to be decent strategies.
As yet, not seen enough evidence to support the notion that VAST will prove profitable as a long term hold.
Usually a profitable mining operation would have no issue securing all their working capital requirements from their off take partner.
I can post an example if folk are interested for a working mine valued at 175m Market cap so folk can see what would actually be required by way of production level and ouputs to see this 10 x bag or more I.e. Joeys predictions.
oneplate....eric?yeah,i remember him well,from solg,whenit was 1p,many moons ago.
Portfolio: "I really don't think so, as the loan to value is already over 80% of this Romanian property value".
Actually, it isn't. The $8.27m is an aggregate of two debts - the new finance + Mercuria. They are separate. So The refinance bullet payment is $4.8m (at 20%, as you say, included) which is only around 50% of the collateral value.
And I think the first on record in profit. Well done Tro
If Eric was here, you’d get a fancy tie. He’s been wanting to give one out for a few years pmsl
Mate you timed it very effing well then! *doffs cap*
oneplate
i never thought i'd say this....vast is my best performing share,this year
by a country mile
there,i've said it.lol.
Firewood - when entering a deal, there are generally terms attached. Do you believe in terms?
Nobody said everybody was down 90%, but again, you must also believe you were not the only one buying at 10p, well over 90% away from here. It follows that some may be over 90% down, no?
I do accept there will also be a small amount of people in profit, but not one has popped up here yet, have they?
@Firwood
Good to hear that you are in profit here.
Hope your strategy works out if deciding to hold your full position in VAST long term.
GLA
Oh Come on, this new ‘May cash cliff’ stick your waving is akin to the old ‘atlas will seize the company’ drum you lot were banging before AP secured the loan you were saying VAST would ‘never get’
And as for people going on about being 90% down, well that’s not the case for anyone who bought in the .2/.3 area now is it.
You lot, phhhh
I have been wondering about the potential for a refinance here.
So with 3 mortgages over the mine the lender demanded additional security by way of the Romanian real estate we are told was valued around $9.9m (from memory)
The debt has a present interest roll up of 20% added to the loan which is required to be repaid in a single bullet repayment of $8.25m ahead of the maturity date next year. Or they default and its all called in and game over etc.
Seen some folk suggesting that the lender may just roll the loan over for another year?
I really don't think so, as the loan to value is already over 80% of this Romanian property value which is incredibly generous for bridging finance so the chances of them saying "sure just add another 20% interest onto the loan for another year" taking the total debt in excess of the value of the security for the loan is fanciful in the extreme.
If VAST can't repay, they will take it away and take a look at the additional condition of the loan agreement as to who ends up with the ownership of the mine in the event the Romanian property getting called in.
Let me know your thoughts on that?
Portfolio: I very much doubt they'll bank clear profit to pay the $8.27m in mid-May. But Mercuria have the option to buy shares, so they might offset much or all of the Mercuria debt that way *if Mercuria chooses* to exercise its option.
And if they can prove profitability from Q4 22 or Q1 23 figures, then they can probably reschedule or refinance with a lot less time and pain than previously.
The May debt cliff is definitely an issue to watch but - if production really does ramp.up - I think the company will survive it by hook or by crook. Just an issue of how messy it gets.
IMO.
Here's hoping that isn't a nod to a vision of the future SP here with weekly selling still dominating ahead of the Q2 figures announcements.
Could the market really drop that much on bad news?
Well this was trading at circa 1m market cap only a few months back, so a retracement to those levels would see a -90% SP fall.
Surely Q2 figures can't be that bad?????
Unless of course it becomes clear that there is literally no chance of VAST generating the $8.25m they need in cash (not revenue) to be able to repay their debts as they fall due in 10 months time.
They are already well behind the required run rate based on Q1 figures.
That run rate is going to keep climbing higher and higher so the required sales needed is moving up as each day passes now.
"Down 90%. gave me a heart attack"
I know what you mean. I did then go onto calculate how far I could average down. :)
I suspect there are many who are down 90% here..
Just noticed Vast down 90%!
Down 90%. gave me a heart attack
Looks like someone just made a big mistake selling some Vast... put one too many 0's in the price! Eek!