RE: Vast to auction diamonds10 Feb 2024 16:28
Mcadder. Sadly, as we get closer to the end of February and the lender's patience running out(?), the RNS could also read:
"Alternative Investment Market (AIM) listed Vast Resources has today requested the suspension of its shares on AIM pending clarification of it's financial position".
Of course I'm not saying this will happen and hopefully it won't! It's purely an alternate possibility to counter the rampy posts that might dupe some into taking a very high risk punt. But they're cutting it ridiculously fine and considering they've not secured them in 10 years and 1 year since the court ruling, does it really seem likely to happen in the next 19 days? How long will the lender's patience last? And if the sharerprice is still under 0.1p they can't even raise emergency funds to show some goodwill and pay back part of the loan. They also won't have time to hurry a consolidation, convene an EGM and issue before end of the month. Of course some will say this means he's supremely confident they will arrive soon, maybe so. But unless they find the diamonds, some other solution or the lender extends yet again (which can't keep happening indefinitely), then they won' be able to continue as a going concern.
Of course, for balance, we could also get:
"Alternative Investment Market (AIM) listed Vast Resources is pleased to inform shareholders that the company is now in receipt of the historic parcel and will be sticking them on eBay as soon as AP gets a 0% selling fees email"
But it's getting a bit hairy isn't it. The phrases not for widows and orphans and only gamble what you can afford to lose have never been so apt. Very much a binary bet now, multibagger or nothing and that's what anyone buying has to accept.
Anyway, just my opinions and musings and a dose of reality. I've personally been here before with situations like this, albeit not as bad, and lost a lot of money. It's very high risk but potentially very high reward. Personally I've decided to stay away, having been fairly bullish before, just because time is running out and the last RNS kind of suggested that the extension to end of February was specifically to pay the lender off, yet we still don't even have the diamonds. There'll be opportunities to trade it if the diamonds do arrive, but I know it's always nice to get in at the lows.
Aimho, dyor, etc.