Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Strummer we have all sorts grouped together. You can interact as little or much as you want. To be honest the majority over 80% I would say do not post at all. They are still committed and confirmed.
Hi Strummer, I can confirm the group of PIs grouped together represent a percentage of shares which should make it very difficult for company to be taken private. Not all have declared their holding but the majority have and we are now taking things forward and prepared to hold BoD fully to account.
As previously advised thanks for your support but there is only so much we can disclose on open LSE forum to ensure we are protecting the group and our interests. As always your welcome to join.
https://discord.gg/sYP6y62r
Hi
Muck165 the parcel of diamonds and mining in Zimbabwe are totally connected. Vast wants its diamonds back to settle its debts and to recommence operations as stated in recent podcast. The company couldn't be any clearer (for once) in recent commumications:
'In Zimbabwe, the Company is preparing for the release of its diamonds previously mined by the Company and preparing for their marketing. Upon the finalisation of the process the Company will recommence its focus on the finalisation of the mining agreement on the Community Diamond Concession in the Marange Diamond Fields.'
Diamonds parcel to be sorted first and then move onto diamond Concession. Talks have been held without a doubt but trust will be an issue in view of past few years dealings. Vast have been mucked about but Zimbabwe need competent companies to sort out their mining issues.
As always investors adding up 2+2 and getting to 22! Since ACR was mining the structure of diamond mining changed in Zimbabwe. Vast will need to act in line with recent legislation and has in the past agreed in principle a joint venture company between the Company and the Chiadzwa Community Development Trust (CCDT)) and Zimbabwe Consolidated Diamond Company (Pvt) Ltd (wholly owned by the Government of Zimbabwe) concerning the Chiadzwa Community Diamond Project. This still needs to signed and probably updated as was going to be signed in March 2020 (originally to be signed in October 2019 but date kept slipping). Hopefully a formality but things can take months/years or be just in a few days depending on who you know and political pressure.
I'll await an RNS confirming mining Concession award before starting timelines on restarting operations.
Time frames are not Vasts strong point or the execution of plans to achieve proposed outcomes. Just look back at previous plans, comments made by BoD and when anything has actually been achieved.
Hoping things come good this year but not holding my breath on anything AP states or suggests. As investor its the best position Vast have been in for a number of years so happy to hold to see how things play out over the year.
Good article from CNBC on copper and price predictions. Diamonds are great and could potentially see a rerating of Vast fortunes but currently Vast are mining copper and secured funds to get through to profitability in view of recent placement.
https://www.cnbc.com/2023/02/13/analysts-see-short-term-strength-long-term-generational-shift-in-copper-prices.html
If the Diamonds parcel pays off debts activities in Romania become very profitable in view of future copper prices. Vast would be worth multiple of current market cap based on increased reserves being confirmed.
Diamond mining is for the future even if developments start to be announced!
I love BB, the fun people post to support investors.
Anyway worse case is bancruptcy. Can I see this happening....nope. More likely in worse case scenerio is a doubling of shares raising £7-£9m. Enough to cover any outstanding debts which need to be paid now. Copper price has recovered from lows of 2022 and currently around $4lb which is where Rambler said they need to be to cover costs and payback of debt.
LME inventories at lowest point in past 5 years and if this continues for a few weeks we could see copper price increasing. Lots of views on supply and demand so let's see how it plays out.
one minute he writes, 'Why they not give them gold am confused at this part' and then follows up with ... is he the jolly jester of Rambler
Quality posts. it's like watching paint dry. At least the posts prove there is interest.
We are all none the wiser until Rambler provide an update on financial position.
Will go back to glancing over mediocre posts in the mean time about best time ever or it's doomed. The doomed brigade trying to get in a little lower for a quick trade and the best time ever brigade trying to mitigate their losses by talking up Rambler. No point at this time really as share suspended but hey keeps me entertained.
'In Zimbabwe, the Company is preparing for the release of its diamonds previously mined by the Company and preparing for their marketing. Upon the finalisation of the process the Company will recommence its focus on the finalisation of the mining agreement on the Community Diamond Concession in the Marange Diamond Fields.'
This is the real share price changer. This diamond parcel could small change.
Parcel of diamonds is the first step. Adds immediate millions of pounds (still need to be sorted, valued and sold) to Vast but the bigger prospect the The Marange diamond fields. 'An area of widespread small-scale diamond production in Chiadzwa, Mutare District, Zimbabwe. 'Although estimates of the reserves contained in this area vary wildly, some have suggested that it could be home to one of the world's richest diamond deposits'.[1] The hugely prolific fields are regarded by some experts as the world's biggest (in carats, not by value) diamond find in more than a century.[2] Production from Marange is controversial due to ongoing legal wrangles and government crackdowns on illegal miners and allegations of forced labour. In terms of carats produced, the Marange field is the largest diamond-producing project in the world, estimated to have produced 16.9 million carats in 2013, or 13% of global rough diamond supply. Marange is estimated to have produced 12 million carats in 2012, 8.7 million carats in 2011, and 8.2 million carats in 2010.[3] While some diamond mines produce rough valued at over $1000 per carat, average production at Marange is estimated at under $50 per carat.[4]'
This is the real prize and could produce hundreds of thousands if not millions per year. Most likely a joint venture as previously announced.
True, let's see how this plays out. We have both been following Vast for a number of years and it's an interested combination of interests and this diamond part came out of the blue in view of past news flow or lack of.
I think they do need to be evaluated but looking back:
'The court had, in an interim ruling earlier this month, said all diamonds from the Marange area in eastern Zimbabwe should be held in the central bank until ownership of two of the diamond sites had been resolved by chief justice Godfrey Chidyausiku.
The stones are roughly valued at about $18 million, according to diamond buyers in London.
Minister Mpofu, according to papers before the court, went to the central bank with a document purporting to be from the Supreme Court overruling that judgment, assisted by a senior policemen, and removed the stones from the bank as they were being catalogued ahead of being put into safe deposit.
Now Mpofu has been ordered again by Judge Chidyausiku to return the stones to the central bank.'
As noted roughly estimated and could be worth substantially more or less but gives us a starting point. Rather work with what's out there in Public domain rather than g estimates from Google :P
In 2010:
'The stones are roughly valued at about $18 million, according to diamond buyers in London.'
A good percentage increase in view of diamond prices today and there could be some valuable gems mixed up in there. Worth more than current mkt cap and doesnt take into account other activities in Romania and Tajikistan. In addition most valuable asset could potentially be mining areas as previously mentioned! No idea on current position of these....could be a very few interesting months.
Supposedly the diamonds were moved for valuation purposes but High Court directed they be returned. Expect a few to have gone missing!
I'm more interested in the two mining areas as that could multiple mkt valuation of Vast.
'
The Supreme Court case is an appeal by the government of Zimbabwe to over rule a High Court order last September which said that British company, African Consolidated Resources PLC was the legitimate owner of two diamond sites in the Marange district in eastern Zimbabwe.'
African Consolidated Resources is now Vast.
After digging around:
'Meeting with the Reserve Bank
In a separate meeting with officials of the Reserve Bank of Zimbabwe (Reserve
Bank), two representatives of the bank, Messrs. Manase and Chiremba explained
that as part of the court order, the Reserve Bank was requested to provide custody
for the diamonds in question during the dispute period. The bank received all the
diamonds referred to in paragraphs 3 and 4 of the High court order in judgment no.
HC 6411/07 for safekeeping pending determination of the appeal noted against the
judgment. In fulfilling this request, the Reserve Bank established a monitoring
committee comprising representatives of the following institutions:
1. Reserve Bank of Zimbabwe
2. Minerals and Marketing Corporation of Zimbabwe
3. Ministry of Mines and Mining Development
4. Office of the President
5. Zimbabwe Republic Police
6. Deputy Sheriff
7. African Consolidated Resources (legal representative)
The Reserve Bank further appointed Mr. Jamal Joseph Ahmed, a diamond valuator
from Premier Diamonds, a company registered in Belgium with offices in Antwerp.
Premier Diamonds was assigned to confirm the weight and value of the diamonds.
members of the monitoring committee were invited to witness the valuation and
sealing of the diamonds. The diamonds were placed in a trunk and one key was kept
by the deputy sheriff and another by African Consolidated Resources legal
representatives. The deputy sheriff also issued a receipt presented to African
Consolidated Resources. The Ministry of Mines and Mining Development has
informed the KP Monitor that its team is currently seeking legal interpretation of
the court order and the implications.'
Based upon the above there should be a good chance at recovery of stored diamonds.