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so do we think we will get a RNS on monday confirming term sheet . I also assume that if funding doesnt arrive until January, and we are 3 months from profit, who is paying to keep the mine running if the monthly payments do not cover the costs. B
I hope your spelling was better in their publications ... Not there !
ben: yes, I agree. Despite some hurt feelings, he is right about the effect of IIs on an SP.
same for the petrodollar then. Trust me, I lived and worked in Australia on behalf of BHP Billiton & Rio on there publications for a few years so I think I should understand a little bit about mining.
I agree with the timeline sandy and wouldnt be surprised on the update that the mine is running in profit, seems like an easy win.
I also didn't mind the IG interview, PI's getting peeved that AP wants II involved need to realise they are small fish in a big bond. II buying power can push the SP closer to its true value compared to large PI buys which is what he was getting at.
B3NTL3Y: pricing is always $, unless otherwise specified. LME quotes in $ and Vast accounting is in $. Very standard for mining.
ben, buko: yes, we have a very good basis for assessing the ballpark, and my numbers are similar.
Regarding tonnage, RNS 22 October:
"The Company also wishes to update the market that it is on track to surpass its initial copper sales delivery target included in the project production and associated operational cashflow forecasts announced on 7 September 2020 and expects to complete the initial production of copper concentrate by the end of October 2020, and deliver between 350-400 tonnes of copper concentrate to Mercuria as soon as possible thereafter.
The Company looks forward to updating the market upon successful completion of this concentrate sale to Mercuria."
That is the sale just confirmed as having happened this week.
So, in the interests of caution, I would run my estimates on 350 tonnes. Anything over is upside.
We also know that operating profit at BPPM is expected to be hit in 2-3 months. Again, in the interests of caution, call it 3. Third sale presumably late January.
I suspect the BoD will want to update the market in some way when operating profit is reached.
I thought the IG interview was good, btw.
What currency’s that buko?
“ £/$ PER TONNE VALUES BASED ON TODAYS SPOT:
FIRST SAMPLE
Copper Concentrate:
35.2% Copper (Cu) at 88.2% recovery
$7215 @ 35.2% = $2539 @ 88.2% = $2239 / £1675
IMO. Sold to Mercuria at 85-90% Value. + Stockpiled Zinc/Lead “
between 600-700k is also the number i came to based on a conservative estimate of the Merc % cut
ben109
Thanks for the reply
Based on the figures
Shareholders on this platform
Have used the accurate information
And put figures out
Including and from
600k to d3nl3ly 1.2 million based on
350 to 400tonnes
All a bit bollxcks really
I work it out at 750k minus shipping and smelting 15%
So around 700k if it’s based on 32% copper...
Buko ofc its price sensitive for both parties involved, but given that we have released the figures in a previous RNS with the next 2 years estimated earnings and todays RNS states that it was completed in line with that then its not hard to deduce a somewhat accurate estimation of how much they got paid for the shipment.
The financial conditions of the company
So has shareholders
I and you need to no what after today and the coming months the financial conditions are ongoing with the company we own
Yes own
A/p group have 20%
We hold 80%
Let’s get rid of the monkeys
I’m looking into how to vote out the board
For the Agm
Has a vote of no confidence without be able to attend the meeting
Gla ...
Price sensitivity is crucial to the definition of inside information. A company must ask: would a hypothetical ‘reasonable investor’, out to maximise their own economic self-interest, be likely to use the information in making their investment decision? Information that will usually be considered relevant to a reasonable investor’s decisions includes that affecting:
the company’s assets and liabilities;
the performance of the company’s business, or expectations as to that performance;
the company’s financial condition;
the course of the company’s business;
major new developments in the company’s business;
information that has previously been disclosed to the market.
A commonly used rule of thumb is to say that a price movement of 10 per cent either way is ‘significant’ and so information
Kraft
So you know what vast are selling the shipment to mercuria do you !
Anything above a certain price makes jack shxt
Oblivious it’s at totally shxt price
Otherwise the dxck of a ceo would be shouting it load and proud
Interested he’s playing the fcuk you card
Has obviously it’s not a great price at all
Mercuria can not govern what price has been paid to vast Plc and then say you can’t tell your shareholders
It’s totally price sensitive to all shareholders
And the market needs to be informed
Or A/P is holding back price sensitive information form
1/ shareholders
2/ the market
3/ and it’s illegal
Investors can not buy into any shares
Without prof and concept of earnings and losses ..
thought the trigger was getting BP producing....now its the refinance, then it'll be the diamonds, then it'll be cash flow, then it'll be getting other assets onstream..then it'll be....then it'll be......then......oh whats the phrase...oh yeh...jam tomorrow......
still holding, still hoping, still no clue whats driving the sp ..someone said it was the spot price of haddock at grimsby....quite possibly....
Key Points
* Baita Plai Profitable within 2 or 3 months of production
* Life of mine 15 to 25 years for Baita Plai
* Anything over $4300 is added value .. at $4300 Copper price the mine was attractive
* Finance will be Term Sheets end of month and Final Approval Dec and Hopefully Drawdown
* Finance is Refinance Package + Expansion for Romania
* DIamonds ongoing and confident will conclude
* Copper is in Demand and just with Baita Plai AP says 4 or 5 times undervalued
* Looking at now attracting IIs
* Rerate is coming soon - trigger could be the refinance package
Yes, if he can get institutional investors then all well and good. No reason why not, once the finance confirmed.
All in all a good day, and although not reflected in today's SP.
If it makes you guys feel better I grabbed a few of these today. He now has 1 more PI to worry about, jokes on him.
Thanks krazy
Thank you for the update
Decent translation antharry, sounds like he'll be talking less now, b0ll0x or otherwise, so no news is now good news, on track as per the production schedule. I'm intrigued now to see where this goes as the shareholder base moves away from the lowly PI. It's ok being treated with utter contempt if the SP rises.
thanks krazy........... B
How is the recent price changes in metals affect Vast?
We are a low cost producer for concentrates. Originally we did a feasibility study and even when copper went down to $4300 a tonne it was still economically viable (to pursue). Anything over $4300 a tonne is upside for us. It has accelerated out programme of wanting to increase volume. That is what the price of metals has done for the company. Now we have a high and EVs (Electric Vehicles) the primary driver for Copper Price and the European Directive to change to Electric Vehicles and we need the infrastructure to be able to power the electric Vehicles so we believe there will be a high demand for Copper moving forwards. So we are accelerating our expansion process in the country for Copper. So it has driven us ahead and because of the additional profits due to the increased prices it will allow us to achieve our goals a hell of a lot faster.
How do you see your operations expanding in Romania?
With Baita we are only mining 1 of 16 Skarns in the license area. I think about 5% of the licensed area is being mined, so there is enormous room for expansion possibility within this high grade copper skarn deposit which also comes with other mineralisations. We have Manaila which we mined for several years and have on care and maintenance temporarily. We have increase the JORC up to 5.6MT at 2.4% Copper Equivalent and a further exploration target of 15MT from historical data. Will look to reopen that in the next couple of years. Problem is the processing plant is 30km from the open pit and so 30% of production costs is transport and so became not cost effective. Will be reviewing this and re-looking at that. We also have another 2 prospecting sites which we are moving into exploration next year as well (Zagra?)
All this will be driven by the profitability of Baita which will allow us to move into these other mines which are potentially T1 assets. A lot on the plate in Romania but the main driver will be Baita.
Whats Happening in Zimbabwe? Does it take a backseat now Baita is open?
Not at all. We divested Gold assets in Zimbabwe last year due to arrangement with partners who were a minority shareholder. We couldn’t see any feasibility on taking dividend even though was a successful min because on the position of the structure that was inherited. Focus is on Diamonds which VAST originally discovered in 2006. Lost the diamond assets but with change within government we re-engaged with the government and local community as its a community driven project. We almost signed this last year but there was changes on the ground and internal community issues which have now been resolved and delays with COVID. We are still very confident and believe in starting that project relatively soon. We are focussed in Zimbabwe and its a separate management team on ground highly experienced in Diamonds sector. We will be pursuing this and strongly believe we will be continuing with that project.
Vast Resources sells first copper 26 November Transcript of IG Interview PART TWO OF TWO:
Link: https://www.youtube.com/watch?v=QGkx6g75_ak&feature=emb_logo
Looking at the share price at 0.17 approx £30m MCAP what do you see priced in at these levels?
Absolutely nothing. Is still believe just on the Baita asset alone we are close to 4 to 5 times undervalued. We have quite a few shares in issue and we have been criticised for that but that is what brought that asset into production. Getting debt is difficult we have had to prove concept which we have now done and is giving us the ability too refinance with a T1 banking institutions. I think this will be the driver the change in finance will help the share price. We have the mine in operation will be near term profitability, probably 2 or 3 months of production and we will be in profits. That is the base case in moving forward and we will have a re-rate. The issue is we have no Institutional investor and most are retail. We are planning at the moment to change our shareholder base and believe that will be the driver to discover the value of the assets.
What does 2021 look like for the CEO of VAST?
The company is the cleanest it has ever been. When we issued the last year results was first time in history no red flags on the accounts. We are reasonably low debt and will be a low cost producer of several commodities which are in high demand. I do believe we are due for a massive rerate shortly and are highly undervalued and are now a copper concentrate producer and hopefully a diamond producer within 2021.
ENDS
#AIM #DYOR
Vast Resources sells first copper 26 November Transcript of IG Interview PART ONE OF TWO:
Link: https://www.youtube.com/watch?v=QGkx6g75_ak&feature=emb_logo
Explain the significance of this milestone?
Only Producer in Romania that is not state owned.
This is the start up phase. Obtain license in 2018 and finance earlier this year. This is commencement of production. Will be growing production end of this years quarter and into first year quarter 1 2021. This will be and ongoing producer of copper concentrate and lead and zin concentrates with Gold and Silver Credits as well as Molybdenum and Tungsten in the future. ,Its a high value mine and will continue growing.
How did you get the mine so cheap?
We bought the mine when it was in bankruptcy and so we acquired it very cheap. Did spend quite a bit of money on care and maintenance. Mine was built and shafts sunk in 1960s and operating until 2014 so there is $60+ million of infrastructure in there… and prob over $100m if you was to replace it today. Realistically under $15m including the recent CAPEX. Brining a Copper mine with a resource of up to 5 million tonnes (of what we know) it is only the top of the iceberg on the exploration. It has 15 year + Life of mine and potentially 25 (years). For $15mln is quite an inexpensive cost. One of the lowest cost producers of Copper Concentrate in the world.
Whats happening with finance?
We started due diligence for refinance and Further funding for the expansion of the mine in March this year. We received first credit committee approval in October and waiting on the final term due which is due end of this month and then final committee approval during the course of December and plan to do the drawdown. That will be a milestone as its a Tier 1 bank and a great name to attach to the company. We are still confident of that proceeding.
Whats it like working in Romania?
My Family origin in Romanian and I was born and raised in Australia. I class myself as a bridge builder between cultures. Romania is an EU country and fifth largest economy in Europe pre WW2. Always been abundant in natural resources going back to Roman times and is a highly educated population. Overlooked for a number of years and not an easy jurisdiction to work in. We are the only private operator in the country other that the government. This is a milestone not only for vast but also for the country to get a foreign plc to invest in the country and get mines into operation. We do believe this is the first of many investments in the country.
PART TWO FOLLOWS