Great news if its Vast diamonds but would think the company would be updating the market and shouting the news out. They clearly advised,
'Upon attendance at the RBZ, and in consultation with the bank’s internal legal counsel, the Deputy Sheriff agreed that the RBZ would confirm, in writing, the process that would define the procedure for the orderly and secure hand over the parcel to the Company, which includes the procedure for valuation for royalty purposes, export permits and Kimberly Process Certification.
Thereafter, the Company and RBZ will put in place logistics for the removal of the parcel attached by the Deputy Sheriff under the writ of execution.
The Company notes that until the process has been finalised and implemented there is no certainty as to the precise timing for the recovery of the parcel and will update the market as soon as there is a material development in this respect.'
With Vast BoD will they actually follow up with the release of diamonds before sale, I actually think 'Yes' as otherwise would leave themselves exposed to not announcing material news.
Tree Shake? Think the tree fell down a long time ago. You just need to look at the graph over 1 month, 6 months, a year...5 years.
This will only rise (sustained rise) on positive news. Market makers will continue to drop SP until this occurs.
Been saying the same thing for months. Hoping there is something behind this rise but very early to say without news. Could just be sellors out and a little upward pressure on buys and sells.
News will eventually arrive.
Apart from a few spikes the trend has been downwards in years due to mismanagement. The rescue strategy is in respect to receiving the diamonds parcel which has nothing to do with the debt occurred to date with mining activities in Romania. They have been unable to mine to break even let alone generating cash to pay back debts. It's been a life style company for many BoD for a number of years but there are signs recently it could be on the cuff of turning things around.
Until actual positive news is released this will continue to slide. It's a gamble with debt repayment being postponed every few months. I'm in the same boat and have averaged down recently and on a paper loss. Of course you could buy today and likely to see a loss tomorrow or by end of week without news. If in doubt look at the chart.
Copper produces in September nearly 50% down on prior month. Supposedly the strike the strike had little effect as per previous RNS, 'The majority of the workforce remain supportive of the Company and continue to perform their duties on site without impediment; as such the impact on operations at Baita Plai is expected to be minimal.'
So what's the truth , little effect in which case why the nearly 50% drop in copper production.
As always more questions than answers and feeling stupid for buying more shares.
Sandy Shore, I like the consultancy piece but currently we are lacking numbers and production details. It could well be the way to go but need to see what they are actually earning or are earnings being eaten up by trips to Tajikistan etc. Longer term the recent additional management services looks really interesting. Its about seeing the opportunity and getting it across the line profitably. Not Vasts strongest point to date or completing deals (as per Ghaghoo Diamond Mine). Let's watch this space as could lead to other developments.
The key part is BPPM as you have rightly pointed out. It's what I originally invested in. The latest exploratory drilling to confirm an increase to its measured and indicated resources. This is vital for any longer term debt finance, extension in mining licence and for any meaningful PE ratio going forward.
Zimbabwe is a very difficult country to work in as found in the past. Potentially huge rerating if mining starts again but could be be throwing away money here with any regime change etc etc. Think AP is chasing rainbows here and not learning from mistakes of the past. Short term could be life changer for many invested here if it gets going.
High risk mining jurisdictions is where Vast is focusing with potential high returns. Just my thoughts late at night.
Chairman at the time wrote to shareholders and stated, 'The main reason for the consolidation is that the number of Ordinary Shares currently in issue is now considerably higher than that of other companies of a similar size on AIM. Combined with the current low share price, the Company has been advised that the share structure is inappropriate for an AIM company and needs to be rectified. The Board also anticipates that the higher price per New Ordinary Share should, in due course, improve the marketability of the Company’s shares to institutional investors.'
Was just doing some further research on company statements and wrote a long piece with facts stated on being fully funded since early 2021 but pressed the wrong button and lost it.
Basic jist BoD have made many claims about being fully funded for a number of years and prior BoD Chief Exec said the same in 2017 to production and positive cash flow.
Just April 2021 reiterated statement of full funded for foreseeable future and then a placement in August 2021. We all know the story as a lot of investors have been here for a few years nursing their losses. I generally invest for long term growth but this share just doesn't fit the mould. One to make a quick gain on if you time it right.
For information I originally invested here a number of years ago and on computer still hold those shares (:( but have traded this profitably during the spikes. Was just going over my research to view comms from company and whether I should change my view. Without stats for a period of 6-12 months plus I think it's difficult to confirm whether company is at breakeven or even generating free cash flow as it may just be a good stope level of ore.
Welcome others views to make an informed decision on whether to increase my holding again. Purely speculative punt currently.
So whose applying this pressure? To date it's been unsuccessful when it's not been days, weeks, months but years since the diamonds were seized. The court ruling was months ago and still nothing even though this was just a formality to get them released.
I'm looking to buy some more shares but it's definitly not on the long awaited diamonds which the market looks to have given up on. I'm just waiting to see some actual data which demonstrates the company is generating free cash flow going forward and can pay back the debt due. Otherwise this SP will continue to drop.
No further meaningful comms in respect to reinstatement of shares since the 19th September.
Shares were supposed to be temporarily suspended from the 3rd July. We are well past three months and I don't classify that as temporary. BoD have shown total contempt for their PIs. I wonder if it's the same for their IIs and major shareholders.
General communications have been extremely poor and hope the next RNS is meaningful as otherwise it's not a share for me. Should have exited last year but there is a glimmer of hope they can sort out gold extraction issues.
Tajikistan - Current project. Receive a 12.25% royalty on sales. based upon 136 tonnes with average price of tonne of zinc 2377, lead 2084 dollars we are looking at around $35,000 for just over a years production. Am I correct as doesn't look right.
Will need to study next plans for Tajikistan
The big play here is that they recover enough money to settle some of the debt whilst having capital to get mining up and running in Zimbabwe. That's where you could see multiples of current SP. At present their mining activities in Romania and Tajikistan are just enough to keep the directors happy.
As you have noted the approval of share issue was in respect to 'authority is sought in order to demonstrate the ability to repay Alpha and Mercuria will only be issued in the event that the obligations to Alpha and Mercuria cannot be met out of the realisation of the historic claims referred to above.'
Approximately half used and basically been used to cover their costs and not for settlement of loans unless you want to include interest payments. I'm not aware this contingency has been used for repayment of loans. They need to cover their day to day costs and overheads.
For the past few years it's been a life style company for BoD. The BoD has the possibility to change this but not managed to do this to date.
The mine only had a certain life and therefore new drilling being undertaken to expand life of mine. It's only just broken even after a number of years and it still needs to confirm it can generate free cash flow. What is the all in sustaining cost of production? We need some forecasts and whether it's a viable mine going forward. The last few years have shown the incompetence of the BoD/ management team with their failed plans. It doesn't mean that this will continue to be the case but we need some numbers before I invest additionally again.
Don't get me wrong I have made decent money (for me) out of Vast in the past. It's been more luck than anything due to diamond announcement. Still keeping an eye on Vast to see if there is opportunity to make money in the future.
By the way I'm expecting another share consolidation in the future in view of the number of shares in issue.
Was there anything new in todays announcement?
A licence for off take agreement in Tajikistan has been expected since last year. It's in everyone's interest for this to be granted. Hopefully there's some decent income considering there should be stockpiles built up (announcement on mining 15/08/2022 and Trafigura agreement 07/10/2022 ) but generally should be a steady income stream. More importantly will this lead to further opportunities in Tajikistan.
Still no mention or updates of molybdenum concentrate production since August 2022 when quarterly production figures were supposed to be provided.
The lack of numbers is concerning. Will third quarter production break the past and provide meaningful numbers with a forecast going forward.
With the size of placement overheads are still significant in view of company size and supposedly breaking even.
No updates since 7th August in respect to diamonds except to say no progression. As there has been little progress on Diamonds since January, my view on uncertainty is that potential further expenses could occur with international litigation to recover historic claims.
This still leaves the issue of settling debt and therefore unless diamonds are released further share dilution will be required to settle the loans outstanding. I cannot see company generating significant copper sales to repay debt unless copper price increases.
Just my thoughts and welcome other views.
Another useless RNS costing money. It's pretty clear that there has been no progression on its Diamond claim, as day after day, week...to months there is no actual news. Just stringing people along whilst people talk of whispers they have heard, lol.
RNS just to prepare people for next placement as still need to cover their overheads. It could also be a fore warning on position on debt repayment. Company could be taken over and new owners benefit from any return in diamonds in months to years to come.
Unfortunately no news generally means another placement is being organised on a contingent basis. Overheads still need to be paid. Hoping diamonds turn up but looking less likely with each day, week...month going by. At least company at breakeven at BP so hoping a smaller raise.
Agree Wasarunner. There's no point in looking forward at gold prices when production was halted in first quarter and there's issue getting the gold out from the leach pads. It's been a couple of months so hopeful mining is back on track. Last year and 1st quarter 2023 have been frustrating and Emma needs to build back credability in respect to operations.
Let's see when we get a second quarter update and mining forecasts for second half.