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Wasn't Katanga one of the baddies from James Bonds 'Live and Let Die?' One of my favourite bond films of all time and one of my favourite baddies. If Vast (Katanga) sign's with ZCDC and it turns out to be as good as or better than the Red Mercury concession AND the finance is not too dilutive or they can pay it back in good time and sort the legacy debt/warrants with Mercuria and/or resume delivery of the take off arrangement of copper then it is going to be A Beautiful Day, A Beautiful Day. (Queue Flute playing...........)
Years ago when vast were AFCR, they pretty much discovered Marange but were booted out by mugabe n his cronies, so whoever was at the ceo helm at vast stood a pretty good chance of getting back in there. If you look at the last 21 months or so since AP took over there has been quite a few schoolboy errors and a lot of unanswered questions. The question is, can AP now turn this ship around and actually make some money for shareholders? I bloody well hope so because any more serious **** ups and laying blame on the past ceo won't cut it this time.
If you listen to the start of last weeks proactive podcast, AP called it a debt facility and then quickly corrected himself to calling it a finance facility. Does this mean it won't be more of a debt facility or it is and he accidentally let it slip? Hmmmmm
I have been critical of vast, mainly due to past **** ups. However, I do actually think the diamond deal will be signed and very soon. Zimbabwe is pennyless and is desperate for foreign investment, they cannot afford to hang around any longer. They have very good reason not to delay
One would think if the diamonds are that good followed by BP why would they consider more funding to expand Manaila. The proc plant was going to cost $1.8m if u remember plus what's need to get carlibaba going. Would have thought they can eventually be self suffucient
It was not always the plan to build the processing plant castaway, they opened the mine ploughed money into it, got into over $4m debt then shut it again as was uneconomical and then later just called it a proof of concept - VERY EXPENSIVE PROOF OF CONCEPT. Yes with Carlibaba and the proc plant it should be fine.
I think that's a little harsh considering the decimation in share price from mid 0.60 down to 0.11 (priced to go bust), missing trucks for Manaila, getting into bed with Bergen and gambling Merc T2 would come in time but didn't and saying there was a plan B and C to stop them converting but there was no plan, starting up Manaila then shutting it down as it turned out is was making huge losses and then they had the cheek to just call if a proof of concept!!! We've had NO reasonable explanation from management for any of the above errors. In view of the above anyone with half a brain cell would agree that all the past criticism has been rightly justified. However, that is all in the past and if we are to believe AP on the recent podcasts we may be turning a corner here and those that bravely got in at 0.11 ish well well done you for taking the risk. Maybe AP is for CEO after all. I am sure if finance is achieved on acceptable terms and we get the diamond license we can all start afresh. Fingers crossed
Not good guys today, I sold out a while ago, not because I didn't believe in the business but I needed the money. For those suffering today, you will get through this. It's devastating when you loose a shed load of money, been there got the T-Shirt and the depression and sadness that went with it sadly. But there will be light at the end of the tunnel, maybe not todya, this week or next month but try and take it on the chin and at the end of the day think why you invested in the first place, probably for a better life so at least you gave yourself a shot and who knows this may come good one day if you don't sell. Hang in there.
Please tell me what 'successfull' massive projects AP has delivered to date which he hasn't either A. Sold off for peanuts/nothing or B. Shut down or put on care n maintenance? P. S. You can't include BP as we don't yet know if it's gonna be a success or get into production (at least while share holders will benefit)
Does that come from AP? No 1. makes me laugh because AP was 'confident' Mercuria was going to come through with T2 and look what happened. The word 'confident' does not give me confidence 2. Didn't we hear the SRK report was late due to far too much data but we are confident it will show what we believe BP to be? Yet this states it arrived on time??? mixed messages...
Yes if course I know the diff between casflow n profit and I know you can hedge and lockin Cu prices but the main point of my question was the longer finance takes the more chance that AP will be behind with getting BP into production and if no finance at all then sp drops below nominal on news the news, we're snookered, can't raise more money.