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Hopefully others will learn by our mistakes... if its for your pension stick with FTSE 100
I'm astonished we're still in business; both this and LVCG seem to be in a similar predicament, dependent on an elusive investor for rescue. I was uncertain if I still owned PREM shares, suspecting I might have sold them during the last surge for a minor loss, or perhaps that was UKOG. However, upon checking, I realised it was UKOG I sold; I still possess PREM shares, albeit at a 20.88% loss, which is not as severe as the 67.88% downturn I'm facing with this investment, yet still better than the 79.91% loss with LVCG. On a brighter note, the remainder of my portfolio is performing well, which is surprisingly strong compared to its performance over the past few years. Hopefully, this upward trend will soon extend to include both this venture and LVCG. Time will tell.
If the mm's are stupid enough to not have noticed, but they have chased away pi's who will never return to this cesspit - THAT THEY HAVE CREATED !!!!!
Well they haven't suspended and administration yet so I guess it's a positive
Give it until end of June and 0.10p
This and PREM must be the biggest scams still going on AIM
Hope you all have a wonderful day. Please don't get wound up by posts on this bb.
Good luck. JJ
What assets? There is neglible value in assets at BP in view of their current use. There is also debts to be taken into consideration. Licence up for renewal at BP.
Copper in ground is worthless unless it can be commercially extracted. To date this has not been the case.
Love to see your calculations.
Sandy - I'll take your word for it on the flip flops; you have more experience with AP on that front than me!
On the Swiss, I think you're right insofar as we have nothing (except perhaps the continuing delay in fund transfer) to suggest they're no longer in play.
On the re-organisation, it's certainly plausible this might have been required by the Swiss, but I'm less convinced of that. I think the driver there was to protect Vast against unsecured creditor actions, particularly from ANAF, and that blaming it on the strike action is a bit of a smokescreen.
Ultimately we're all just left guessing.....and hoping.
I just see this as a 10/1 shot just like the horses. Oh and now a free bet thanks to Clon
Muck: thanks for the reply. AP has had both hits and flops along his route with BPPM and Vast. So I can't predict either way whether licence renewal will be problematic or not. I'm assuming for now that the finance is still pending, as I haven't seen anything that I think the financier wouldn't have known about. Indeed, the voluntary restructuring approved by the court might even be a requirement by the financier, as a result of due diligence on that party's part.
It's a bit of a wait and see, for me.
Agree Sandy - if the Swiss are still interested they are likely waiting for the licence renewal. We could, therefore, get a bumper RNS confirming both.
Alternatively the Swiss may no longer be interested regardless of the licence, or we may have problems with the renewal, particularly I think if there’s a concern about worker safety.
If the Swiss don’t show up, it’s either alternative finance, a raise, or continued patience from current lenders.
We’ve heard nothing about alternative finance discussions, and personally I think there would be a very small pool willing to lend (if any) and, even if we could secure it, I suspect terms would be harsh.
A raise would be eye wateringly dilutive and to get anywhere near enough to cover Alpha Vast would, given the current SP, have to breach the undertaken given not to issue more than 2bn (we’ve already issued 280m).
And it seems Alpha have run out of patience given the payment plan we agreed.
So for me everything would appear to hang on the Swiss, at least for a half decent outcome. Or I suppose the diamonds….
Time to buy;-)
GLA
I sensed a bit of hope yesterday in the sp…
I expect the costs to pursue in international courts would be prohibitive. It is likely to cost millions and even if successful chances to recover money minimal as would need to seize assets.
Whatever happened to the parcel of diamonds that were due to us? From memory had a value of £15m or thereabouts…. Sufficient to solve the company’s debt issue.
You think that should they exist and there is a chance that the company might get them or receive financial address for their loss the company would pursue through the courts…. Maybe I’m missing something….
Agreed. What a scandal. Complete and utter crooks. No hope in thiscompany.
Option 1). 0.11
Option 2) 0.09
Option 3) Buy whenever you want
SandyShore: re the “Swiss investor”, what kind of premium are you expecting him to pay for his investment in Vast? I agree with you that it would be advisable for him to wait for the documentation to be agreed formally, as outlined in your post. However, it’s taken so long already for any news on his involvement to materialise, that one wonders whether he’s just another diamond geezer to add to the existing historic parcel. Where are we on that, by the way?
He does a massive placing, Swiss investor actually invests, or curtains for vast? That about right
The 4 June RNS noted:
"The licence extension documentation for the mine was finalised and submitted by the 12 May 2024 deadline."
I believe this is subject to the standard Romanian turnaround rule of 30 working days (though extension is possible), so in theory 6 weeks. 12 May was Sunday, so probably filed by Friday 10 May. 6 weeks takes us to Friday 21 June. In practice, notification could spill over to week of Monday 24th. The public holidays on 1 June and 23 June fall on weekends and Romania doesn't ordinarily do weekdays in lieu. Monday 24 also public holiday, however. So notification could spill to Tuesday 25th or slightly after. Later if the process is extended. Sooner if not - though we're almost there now anyway.
If I were a prospective strategic financier, I'd want that process ticked off before handing over cash.
Mermillions one of the RNS also then said ‘Whilst the Board is reassured by this confirmation and is hopeful of the release of funds, of course there can be no guarantee that this funding will be secured.’
It was in an RNS with AP saying “in writing from Swiss Investor”
Either AP needs to reconfirm or it’s untrue which is a very serious issue for AP
I dont know what im waiting for to be honest
Absolutely Bridgedogg1