Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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If breaks 032 I’m out
Strong Sell if you see 032
Just want to ask, are we at the bottom yet? There comes a point when there is nothing more that can be sucked out of a company. It has to put some news out that is selling assets, or making some profit somewhere. Right?
Has anyone done more research than me, who has sifted through the torrent of RNSs to see some milestones?
Are we all really waiting on these diamonds that are now 16 months since legal ruling, still to see absolutely nothing. Even a nudge to say they're out the country.
Please, anyone?
Is he honest or corrupt ? Does he have a loaded gun against his head, or a big fat brown envelope in his pocket ? If so, who is the more corrupt - AP or the Zimbabwe Government ?
Is there ANYBODY honest in business now, or are we condemned to open globalised institutional corruption - perhaps we are already in such a world !!!
How sad !
The UK scored 71 down two points from last year so give it a few more years and they go hand in hand
Zwartkops: why would Mr. Prelea be “in a sleazy South African bar”, when the Victoria Falls Hotel has reportedly been his preferred lodging while in Southern Africa? And I dare say he’ll prefer the more delicate flavour and tenderness of Thomson’s gazelle.
5. Bribery and corruption
Zimbabwe scored 23/100 in Transparency International’s Corruption Perception Index. A country’s score is the perceived level of public sector corruption on a scale of 0-100, where 0 means highly corrupt and 100 means very clean. There are instances of politically connected individuals being awarded large state contracts or being allocated state-controlled resources such as foreign currency. See the UK’s anti-corruption strategy.
Bribery is illegal. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world. It should be noted that UK bribery legislation also applies to UK registered companies and UK nationals committing acts of bribery wholly outside the UK. Read more information on our Bribery page.
Under the UK’s Global Anti-Corruption sanctions regime, Zimbabwean Kudakwashe Regimond Tagwirei was sanctioned (asset freeze and travel ban) in 2021 for profiting from misappropriation of property when his company, Sakunda Holdings, redeemed Government of Zimbabwe Treasury Bills at up to ten times their official value. His actions accelerated the devaluation of Zimbabwe’s currency, increasing the price of essentials, such as food, for Zimbabwean citizens.
Paul I'm in the same boat , bottom draw , jam on the diamonds tomorrow,,, stranger things have happened.
Castle
A complete SCAM. What a mistake I made buying here. WIth an average of something like 2-3p entry looks like I have lost my money
He'll be in some sleazy south African bar now eating springbok steak and drinking cristal champers at our expense Twt
SO IT'S NOT PRICE SENSITIVE TO ANNOUNCE THE EXISTENCE OF THE DIAMONDS BUT IT IS TO MENTION ANY DEVELOPMENTS?
FKN CON ARTIST
I have had the same email repeatedly over the past 12 months from Susie at Stbrides. The diamonds situation is a farce
Messaged VAST earlier and surprisingly I received the following reply:
Thank you for your email and I understand that shareholders are eager for further news regarding the Historic Parcel. The Company is however limited in its ability to provide ad hoc updates and will adhere to its regulatory obligations regarding the dissemination of price sensitive developments, whilst observing the strict confidentiality clauses which guide the process in Zimbabwe.
Best regards,
Susie
ATB LTH
Todays rns mentions another Tajikistan revenue stream , wonder what the Taj price is per ton ? The average price of fluorspar in the United States reached an estimated 430 U.S. dollars per metric ton in 2023.
https://www.statista.com/statistics/1051742/fluorspar-price-us/
Talco/Takob site has two fluorspar/flourite 30k and 40k ton operations, 10% of that would be a nice little earner, at US prices $430 a ton
https://talco.com.tj/en/about/talcogroup
What’s happened Here. Did we ever get the diamonds?
Rainbow chasers - asimpleinvestor !!!!
And you are here as a registered charity presumably ??
Feel it has the right to go silent on the diamonds ? Have the forgotton they are OURS ? Call this shower of crooks out now or tell us why we are not being told that they exist ? !!!!!!!!!!
It is what it is. Honestly, I didn't expect anything different, although there was a noticeable absence of figures outside of debt. Nevertheless, the production update isn't anticipated for another two weeks. I see the talk of diamonds has run out of steam so we may get some better updates going forward and less over promising of updates surrounding the bag of gravel. Looks like the rainbow chasers will finally have to look for pastures new or moan about something else if stuck here underwater.
Santiago ,, I never sell at a loss , not in a rush !!
Massive drop with hardly any shares sold ludicrous..
Castle
The diamonds were probably a lie to get this far so no chance of the diamonds appearing the company needs to take them out of the equation all
I am happy with everything to be honest, I think the future here is massive. I am still confident of ZIM diamonds, and financing
@ Hawaii I agree .. Vast is pretty much worthless as a company.. of course it could go completely out of business.. like so many small producers its got its self in a debt death spiral..
Its a punt as you rightly say.. the diamonds are really an urban myth.. the main thing here is to get production up and stable and keep trying to fend off the wolves that would seek to liquidate the assets.
Time will tell indeed.. but at this point its a gamble for sure.. Binary really ..
No point selling my shares they are so far down the spectrum , bottom draw and hope for the diamonds, stranger things have happend .
What do you mean no point? you will lose it All
I was pleased to see such a wide-ranging update. Obviously it leaves out a very great deal of detail but the overall sense that the different work streams are still trundling along is clear.
Regarding diamonds, I said at the outset that it could be years, just as it was getting the BPPM licence after a favourable court judgment. Governments can take an eternity. But I am pleased that the company is finally laying to rest the narrative that the 'historic parcel' will solve things and is working more specifically on re-financing.
As to the re-financing itself, this is work in progress. See what happens.
The whole situation is a reminder that Vast could have had top tier re-finance back in 2021 if they had been willing to re-structure in such a way that would have partially kicked the African Adventure.
From the RNS of 7 January 2021, when they had been hoping to finalize top tier re-finance:
"Vast Resources plc, the AIM-listed mining company, announces that, following the announcement made on 16 December 2020 regarding the final credit committee meeting focused on the asset backed debt facility, the Company has been informed by the international banking institution “the Bank” that the credit committee is unable to proceed with the approval of transaction until the completion of certain corporate restructuring at which point the Bank will reassess the transaction. The Company has been given to understand that this decision is unrelated to its current mining activity and is not a negative reflection on the Company’s Baita Plai Polymetallic Mine.
The anticipated development of certain aspects of Vast’s wider portfolio has prompted the evaluation for a restructuring and rationalisation of Vast’s corporate structure that will enable investors to have a variable exposure to different elements of the current business, both commodity and jurisdictional. Details of a potential corporate restructuring will be provided to shareholders in due course."
Those details of a potential corporate restructuring never were circulated. Vast walked away from that high-level credible re-finance to keep its African Adventure in play. They even dreamed up a crazy Botswana scheme. The whole effort came to nothing - and has cost three and a half years of staggering around.
Let's see if AP can finally sort something proper out.
Post from the Hive:
#vast
These are the interims. Look at the cost of sales. They need to fill a good chunk of margins even before they make a profit. They need to up production and up grade. We now no they haven't been producing as much in this constrained period. So how much loss have they made.
The debt will pay off the debt
The debt will also have to fill this hole as per accounts for this quarter
The debt will need to get them to profitable production....will it?
Debt to pay debt is never good. This is how companies get themselves into a mess. Copl is a massive case in this. Not saying vast will go that way but it is in material risk stage and has been for some time. Should any one of the financing arrangements not be extended then what?
What the senior lender did at copl was nasty. They allowed debt to be taken on because they knew their balance wasn't being paid and hence they could then seize the assets at a given time. Debt is a scary beast and one we have to track.