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Just need to look through last few weeks, months, year or why not five years RNSs and presentations and you will soon see how many lies have been told or indicated. The resulting SP is clear to see markets reaction to company not achieving its stated aims or not needing any more placements which have been stated a few times over the years.
I sold 99% this morning. Same old Vast wrapped up in new paper. Took a loss (probably wiped out profits from last year's spike) but just once again confirms AP says one thing and does another. He just hasnt got BP mining enough ore. Well below levels intimated and figures to date show no real improvement against projections.
RIP Paul Watkins. I didn't agree with all he wrote but respected his passion for BMN and what they wanted to achieve.
He fought real hard and defied the doctors expectations. May he now find peace and heart felt condolences to his family.
I know prices havnt been good for some time. Likely to be a delay in receiving diamonds and then they need to be cleaned to check whether any gem quality in the mix which will be sold separately. I don't know diamond market but expect this would take a few weeks before going to sale. Welcome your thoughts on this.
The gem quality ones will make a difference subject to the minister not removing anything of value when he had his mits on them.
ASI yes I had the original valuation at $18m. It really doesn't mean anything until Vast have received them. Taking into account the free for all diamond rush which took place over Vasts diamond Concession as well as military mining I'd hope the company fights it's corner in respect to proceeds of sale but this is Zimbabwe and not expecting any concessions.
What we can hope for is an increase in diamond sale prices. To be honest if they can pay back creditors and get a decent concession in Zimbabwe most investors will be handsomely rewarded.
I believe in one of interviews AP gave after the news of diamonds he advised they were at least the value of Vasts market cap at the time (approximately £15m) . Would need to check this but that's my recollection . Of course this was a gustimate by AP based upon previous review of parcel by assors in London. I believe this was before the dodgy minister got his hands on them and then had to hand them back following Court order. I also expect taxes etc will also need to be paid on sale of diamonds. No idea what deal has been done on sale and I know Vast have previously offered up to 50% of sale price to government in years gone by. As always just conjecture on my behalf until diamonds received and sold. Probably still be non the wiser until Report and Accounts issued. Just the way with Vast and their transparent process :P
Just a change in terminology. Where Vast BoD are concerned they provide limited information. Agree they previously stated no agreement to minining Concession until diamonds handed over. It's coming upto to a year in a weeks time since the court ruling. I know things move slowly in Zimbabwe but this seems to be dragging on a bit too long even though I previously advised this would take months to resolve.
No real progress noted in RNS. Even the CEO states, 'Current production, having improved from low historical levels, is still not at the level we would like.' The truth is production is at a fraction of previous stated goals. Lots of investment made, introduction of mechanised mining and still production levels are woeful after years of investment. Without showing a business plan investors are better off not agreeing any new placement of shares. The SP over past 5 years shows the state of the company even after the positive Zimbabwe court case.
Has their been a change in language in respect to Zimbabwe ,'The Company retains a continued presence in Zimbabwe in respect of the Historic claims.' Are they no longer looking for a mining Concession? Unclear as normal.
Progress made in respect to new revenue streams but once again more detail needed. Company needs to demonstrate it can provide a return to investors and not just pay the BoD wages.
Initial drilling results have been very positive. Fingers crossed can be extracted generating free cash flow. If it's not commercially viable then cut your losses. The last few years plans have been dismal for investors in respect to BP. Just my thoughts as had enough of this dilution without any returns. All good being positive but you also need to keep an eye on the facts
He's got two-three months to build in a plan to call an EGM for approval for another placement if required. It's not as though we would have a choice if diamonds havnt appeared. Hopefully drilling results are good and loan repayment can be renegotiated but could be tight with timescales.
If drilling results are not as good as expected hoping AP makes the hard decision to close down BP as it's been a drain on Capital for years.
ASI why destroy his/her beautiful dream. It was nice and fluffy there. Let's just ignore the previous indications provided and latest updates by AP hinting at values. It would be nice to find a few gem quality stones in there which would push up the value.
I wonder how many more placements will be done before parcel handed over. Hoping this is the last one as this dilution is reducing the potential SP rewards.
Still surprises me people have an expectation that diamonds will enter a sale before it being announced by the company. I know Vast of BoD havnt been great communicators but even they would struggle to not announce developments following their statement last year:
'A further announcement concerning the physical receipt of the diamonds will be made on finalisation'.
Even if they do go straight to sale and not be physically in their position Vast will be shouting this from the roof tops to rectify their battered reputation in the market. Vast BoD have always been key to release positive news even if they can't subsequently back it up.
Horult, I hope you didn't buy to many originally. Think you have saved yourself a few pound by not averaging down over past couple of years. I'm hoping we are at the bottom but the same was said prior to last consolidation so who knows. The company seems to be getting its act together but with the sad loss of Commercial Director there could be a few unforseen headaches in management as they take up the work. Hopefully a new one is appointed soon.
Well there has been stay on execution! I had written this off but there are some signs of life. Hopefully some return for us long suffering investors if they can make this work operationally. A question of how much money is needed in view of gold produced. Has this now increased?
To me it now now sounds like a sale of company to pay off its debts. Results not issued by year end so can formally delist from AIM exchange. Will lead to orderly sale. Can only hope mine production has increased for some serious offers. Otherwise another case of debt being paid off and little else.
I've written this off but hope to wrong. The hope is that the lights are still on and mining progressing. informal agreement in place providing gold to settle debt. All speculation on my part. Just as much chance getting a RNS to confirm assets taken over. Let's go into the new year with hope.
But this is a high risk gamble and therefore potential high risk return. Vasts ability to continue as a going concern is based on it's ability to secure the return of the diamonds to pay off the debt. It's taken over a decade to get Zimbabwe high courts to confirm the diamonds belong to Vast. It's nearly a year since the decree was given but still no sight of diamonds. I want to know what other people's view is on this and when we should expect them. I'm invested but am slightly nervous on whether Vast can continue without further positive news in the short term especially as SP is close to nominal share value.
The production at BP has not increased sufficiently in my view to service debt repayment in full and therefore will be difficult to refinance. Will need drilling results to extend life of mine as probably only a couple years left based on previous guidance given. Results should hopefully be out by end of year but still guessing where Vast are concerned. Crunch time, we'll know soon enough whether Santa is coming or whether we will be crying and moving on to our next boom share.
OK we have had lots of fun (not so much for those invested in past year) discussing the appearance of these diamonds whilst BoD have issued equity to keep the lights on.
What are people's thoughts on when these diamonds will appear. My view is that Vast is in negotiation for a mining concession and Zimbabwe government are ring fencing the proceeds of diamond sale to be used in Zimbabwe. Vast of course wants to use proceeds to pay off debt. What other reason could there be delay in diamonds being released unless someone wants a back hander or if they just aren't there. Just putting everything out there.
My view it will potentially take another quarter before money being realised even if we are given news that they are released tomorrow. Things take time in Zimbabwe.
Welcome others views point.