Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
As far as AGM went, it ticked the boxes and showed positivity for future in view of employee numbers which is increasing and number of stopes being developed. On track and finance c details to follow.
Looking at in excess of $800,000,000 in respect to measured copped based upon conservative $8,000 a tonne. Going forward I think prices will be at a premium. Gold is multi million pound bonus! Market capitalisation of just £43m. Its just a question of when the market will wake up, not if!
Totally agree Propinquity. Taking out the green renewables revolution which is expected to drive economies for next 15-20 years plus there is not enough copper mining in view of current needs as well is existing change in consumer behaviour. Take into account government commitments to reducing carbon footprint as well as companies going green, demand will out strip supply for the foreseeable future. The lack of investment and exploration over past 5 years will lead to a short term spike in copper. Coppers the new oil show in town. There will be fluctuations in copper prices but in my view there will be upward pressure in copper prices for some years to come. This bodes well for RMM investors, short, medium and longer term.
An RNS - video on mining. Seriously never seen anything like it recently when not backed up with figures or new news. What would be confined to Facebook pages or company websites is being put out as a RNS pointing to YouTube video. I wish all long term holders good luck and hope this communications spectacle helps the SP.
I'll keep an eye on Vast but this really has made me think twice about investing. Basically BoD need to provide proof about what is happening at the mine. Hopefully it may build some some confidence which was shot.
Good luck
Atlas converting would be a good thing for Vasts survival as those debts will not need to be repaid. The extra cash can be invested into Vast to make it a success. Currently share price looks to be on endless downward spiral, no matter the communications from BoD or Vast communications team. Need to draw under this saga.
Currently in the process of doing just that and I'm saving the money to do so. I could also quite easily take out a loan at a good interest rate but then end up paying a lot more for it. I'm also keeping my options open to purchase another property whilst retaining the one I have to rent out. This would also involve a loan but once again having a good credit record and money behind me is going to help. If I had a bad credit record I doubt banks would loan me what I need at a price which is affordable. No different to Vasts position. They need to build up credibility to ensure they can profit from increasing price of copper. Yes they potentially need funds to do so but its how they go about doing this what matters.
So rather than developing mine off profit BoD have already put out there they are looking to raise further debt. This off a mine they are still in the process of turning around. In addition they are not paying the interest off a debt they have already have in place with Atlas. This really does the opposite in respect to inspiring confidence with current BoD. Hoping there may be a change in BoD pushed by debt holders as unlikely from shareholders based upon past experience.
By profit I mean money being made at Vast. Hurrican was/is making approximately £10m a month in free cash but bonds to be paid back and therefore current plan being proposed.
At vast the mine still needs to turned around to profitable production and current share price reflects this and outstanding debt issue. If it gets it right could transform company but currently a lot going against it, especially current BoD. Hopefully they can execute a successful plan.
Djg, you got a lot guts to be investing in Hurricane. Well beyond my risk appetite but believe your probably sitting on a 50%plus profit in two weeks, wow. If bod change is executed and a plan put in place for next two years with drilling you*ll be laughing all the way to the bank.
For you info a sold out of Hurricane in Feb based upon BoD not having a clue. A loss but something I could live with especially in view of current price.
Similar situation with Vast but less of an idea on profit being made and debt once again a real issue. Don't want to burnt again and yes if there is a board change I would jump on board
I see no point in emailing board members who you are looking to remove. They have not responded to CA in the past, they are not going to respond to you so stop wasting your effort there. If I was in your shoes pursue FCA, get signatures to a letter to the Judiciary as well as to the media. This may help in bringing an EGM to fruition.
Good luck
There's someone even there mocking Vast in respect to diamonds! Will stick to that being off the radar and if something ever materialises a bonus. I believe Atlas have committed funds to the venture when, if, it materialises.
My reading is therefore based upon the last 20 days trading the company can purchase shares at 90% rating therefore approximately 7.65 based upon 8.5p. Why purchase at 26p when they can be purchased significantly below this price. Correct me if I'm wrong
Sam that really makes no sense. You convert low so getting more shares than if you converted high. You them keep your shares whilst price increases (like your suggesting they will) and you sell at a huge profit as your no different to any other shareholder. Why would you convert when price has increased?
Atlas could not convert previously as price they would have made a loss on conversion. This may be a possibility with consolidation of shares. Once again if this is the case why would you buy when conversion by Atlas is likely.
Sam the only reasons Atlas to wait until later in the year to convert
1. Expect the share price to drop further and therefore receive more shares
2. Expecting another dilution by Vast to continue turnaround and therefore once again receivingore shares before converting
Other reason not to convert:
Atlas no longer believe in Vasts turnaround and therefore wants the money back and as a lender has first right to recover money
What other reason can you see for delaying. I really want to know as was looking to invest but cannot currently see a reason to do so whilst Atlas debt hangs over the company.
Sam, are you really trying to mislead people to try to get them to invest. Vast may not need any more for developing mine but this doesn't take away the FACT, Atlas has the ability to convert the money its owed by issue of equity which would substantially dilute existing shareholders. Hopefully it doesn't come to this but if I was Atlas and seeing increasing Copper Price I know what I would do!
That's been the story of this share. It just goes down and down. Been on this downward spike for months and years. Dilution after dilution and incompetent board has just made matters worse. Trying to get a mine back in order during a pandemic when you have not visited was a disaster. Following this failure by AP and the board have now got a mine manager and a new plan in place. There could now be light at the end of the tunnel but Atlas debt and BoD instil no confidence. I have now decided not to invest recovery confirmed and Atlas debt resolved. Yes I will miss the bottom but who knows what the bottom is. The way SP is going Atlas may be able to convert and own most of company diluting SP. Will continue to keep a close eye. I still have a tiny holding here which I'll keep in as gambling punt.
I have sold my holding earlier this year but if I still had a significant position I would be looking to engage with shareholders to put in in a civil claim against the directors in respect to not fulfilling their duties (being negligent) in respect to running the company on behalf of the owners.
This whole business looks to have been a last thrown dice but what has the BoD done to justify their positions in the past 12 months.
Wall Street natural resource investment house Goehring & Rozencwajg Associates confirmed their place in the superbull camp this week, predicting a copper price north of $30,000. Looking at $15 a lb. There are still more bears than bulls in respect to copper price predictions but there is the potential. How would that transform RMM share price. I like to dream on weekends.