Member Info for 1nvest

I've been amazed at company share predictions for this share over past few years. The SP taking into consideration share consolidation would have been over 4p last year. History has shown the company have been unable to get BP mining profitably over the past few years. Management plans have failed. On the plus side copper price has increased substantially since BP mine plan was put into place and it's possible mine could breakeven in the short tern. Of course there will be issues if copper price starts to fall.

In respect to any increase in SP this will be dependent on what Swiss Investor wants in return for investment. To date BoD haven't been bothered about their existing shareholders and will do whatever it takes to keep the lights on. I'm expecting a significant share dilution to existing shareholders which will limit any increase in SP. In addition any finance loan will be at advatages rates to investor. I expect the terms will more harsh than currently in place as Alpha want out.

Does anyone realistically think SP will be multiples of current SP considering Vast financial issues?

Rather his posts than made up ficticious emails suggesting Vast diamonds entering an auction!

I believe AP was stating NAV of $200m was just for BP and therefore couldn't understand why market was under valuing SP. Unfortunately he just doesn't understand the market. Investors want to see a return on their investment. Not money disappearing into an endless money pit with no returns . He even agreed this latest placement was to keep the lights on. Shows the value of $200m asset.

Vast need to actually demonstrate they can generate returns to investors before this SP starts to do a rerate. It needs to increase approximately 300% to get to pre consolidation price.

It's been the same story for past 10 years plus with Vast with new projects replacing old abandoned projects where they could not get off the ground or were just unable to generate any profit or working in jurisdictions where they were taken for a ride.

Sounds great but what's the deal? Is it a new loan and what's the terms. Will the company have any spare cash to continue development is is the case that all money will be spent servicing debt. To date the loans arranged have been really detrimental to shareholders with share placement s to settle debt or keep lights on.

Will there be debt repayment via share placement. What will be the share placement price. I can't see it happening at a premium to 0.6 as previously advised. More likely around this current SP or even lower. Any investor is going to look to maximise their holding. It's not as though other finance companies or miners are interested in acquiring these assets. Millions spent developing mine but no profit shown to date. Based on previous projections the company should be generating significant cash but placement today shows real position .

Lots more we can talk about but company needs to show it can generate free cash flow before this becomes a viable investment. Currently a life style company as a previous CEO described Vast operation.

This can sink a lot lower in real terms if the Swiss investment cannot be secured at a premium. I do not expect this will be a premium to 0.6 Vast talked about but a premium to current SP. Vast have obviously had to offer a substantial discount to get this small placement away.

Theres been no updates in respect to BP and whether a new JORC compliant Mineral Resource has been produced increasing indicated and measured reserves. Have they even submitted documentation for licence extension or is it all about other projects going forward? We don't even know whether BP has broken even after all this investment and copper price increasing substantially. If it can't generate free cash flow substantially below current copper price then all projections by company have full of BS.

Vast in a very precarious financial position and it's now a waiting game. Can they actually get a project generating free cash flow or is another book being closed and focusing on another project?

Another one taken in. Whilst there's investors like these Vast will continue to limp along to the next placement 😉

Other company BoD have some integrity and know it's in the shareholders best interest to put company into administration. In Vasts case it's all about keeping the lights on and to do so they just consolidate shares every few years so there is always the opportunity to do a share placement at a discount. Not a thought for shareholders who have no chance of recovering their money invested. Mind boggles on the percentage increase required for those invested 2, 3 and 4 years ago.

Great relief to see result. At least still trading, only a £1,000 plus invested here but after a few other horror stories I have been in its a welcome change. Been on a losing run past year after some good years looking at turn around miners. Only small part of portfolio but still hurts when you get it wrong.

Better than I was expecting. Had fully expected to right this off so to see them keeping the lights on is a great relief. Thought this would be another crooked AIM company being taken private. Looks like their is some fight and people trying to do the right thing.

Not going to be easy to turn this around but possibility there.

Hopefully finance terms can be agreed. Expecting mass dilution to shareholders but a bit of something is better than nothing.

Goldstone should be flying in current climate but unfortunately the reality is that the company has been unable to extract the gold in any real commercial quantities. It's now whether they can put in place a mining plan which lead to free cash flow as well as servicing debt.

Looks like the 4 Islamic terrorists accused in Moscow are citizens of Tajikistan. They have appeared in court accused of carrying out the massacre.

Could be repercussions and possibly even more civil unrest. It's a country known for its problems. Hopefully the situation doesn't deteriorate any further.

Doesn't look this share will be doing anything until release of news, good or bad. The amount of traded shares is extremely low in view of shares issued. Currently no appetite out there.

Even if the Diamonds turned up tomorrow a placement would be required to pay for ongoing costs. The diamonds will not be sold within a day of being released. It's going to take a while to sort. Currently outside of Zimbabwe government/bank officials no one knows when these diamonds will be released. AP definitly hasn't got a clue with his days, to being close statements. It's been over 13 months with no transparent details on their release.

Company unable to balance the books and therefore this repayment on every sale of concentrate means even more placements going forward diluting shareholders position.

Interested to see if AP addresses PI concerns and actual puts some forecasts out there for 2024. I also would have thought there would be an update on indicated and measured reserves following drilling programme which started over a year ago.

Yes their is a payment position on any sale of concentrate but it does not alter position of repayment being due in full. There is obvious repayment issues and Mercuria agreed a payment plan in the interim whilst this saga continues. They obviously no longer trust Vasts announcements and put in place mitigation to reduce their exposure.

ASI, in my view a new off take agreement was to be expected. The surprise is moving to Trafigura considering Mercuria have been supportive of Vast in the past and delays in repayment of loans. Raises a few concerns in respect to whether Mercuria is now fed up of jam tomorrow and wanting their money back. You would think things will be clearer in the next few weeks but transparency is not Vasts BoD strong point.

Companies willing to replace debt with equity in company at 3p well above SP. They were actually willing to do so at double this price at one stage when SP was higher but Market makers have pushed this price down. It's clear AIM market is clearly not working currently. There wil be an adjustment in the future it's just a question of when. Price of vanadium is not helping but the business has more assets and production in place which was not the case when SP was previously this low in the past.

We've seen the China position on battery storage. Just a matter of time and bit of world economy growth and I believe this SP will increase significantly.

I think Philip is more stating facts of when first invested and what his shares are now worth. Unfortunately a lot of investors sucked into story delivered by AP. Constant dropping of SP following placements tells the true story.

Struv, I agree. That's why I sold majority of position when news first broke. Could only see SP going one way immediately after announcing GM.

Think AP has been incompetent in respect to activities to date especially in view of BP.

Unfortunately for those still invested there was only one option or lose all your money invested. Not sure if this was the same decision for those invested prior to last consolidation as those shares are only worth 1-2% of original investment.

Shareholders had no choice as only way to keep lights on.