Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Do we roughly know how much more $$ we need to actually get BP into production as AP states the raise before the last one was supposed to be enough to see us through till finance, so we DON'T have enough money to get into production do we?
So once mining starts in December (as AP promised in yet another timeline) as I understand it BP will not turn a profit till say 8 months or so after mining commences, that begs the question if finance is not forthcoming, what is vast going to live off during that period? Also I guess monthly Opex Will go up too as more employees will be needed and transport. Could it be that financiers are playing a waiting game regarding the china/US spat and ultimately whether or not Vast can repay the loan due to either worsening Cu prices (trade war escalates) or better Cu prices (trade war sorted)
IMO Merc did not **** us over. If we had met the offtake deliveries and repayments on time there probably wouldn't be an issue but perhaps they were unwilling to lend is yet more money after bad. I think they intended to do T2 but maybe someone higher up at Merc who has final sign off saw we had not paid much or if anything back and said No thanks.
Which begs the question why they started mining at Manaila at all in the first place? The production forecasts (presumably produced by Craig Harvery - same chap who did the BP one's - Yikes) must have been way out.....And who reckoned the trucks would double production without increasing OPEX, I know AP said it but where did this come from?
Yes I was uber positive about Vast around 0.6 when I believed what AP was feeding us about being a mid tier miner and all the rest of it but I had my finger on the sell button when Bergen was announced but AP's assurances about having a plan to prevent them from converting was for me the last straw.
In answer to your post, I do see a future for Vast, if a very slim one and yes my holding has shrunk considerably. What pains me is (and just take al ook at the posts below) is the constant ****s ups by management, missed timelines, miss information etc... and I'm told they read the chat boards so I sincerely hope they are taking this all in. Some have been trading the hell out of this and some are massively down but then to come on here and sing Vast's praises in view of the dire share performance the last 18 months? Well isn't that a bit disingenuous? If the likes of Lee and Castaway shut up then probably so would people like me who wish to point out that everything is certainly not all roses.
If Merc cash in the billions of warrants Lee and Castaway would still be in love with Vast and it's crew, in their eyes they can do no wrong, despite the horrendous **** ups in the last 18 months. They give no solid reasons for the failures I point out, they just skirt round the issues. Come on Castaway and Lee give it your best shot. Why did AP state in the Vox Podcast around xmas last year about having a plan B and C to stop Bergen converting but actually they had no plan and simply let bergen convert and then they issued more shares out of the headroom we stupidly authorised to pay Bergen off, that ain't no plan. Also explain the why they started mining at Manaila, took on huge debt then shut ut down again and pretended it was a proof of concept. Like I say assets are good, management erm... not so.
I don't doubt the assets, I just doubt the management. They got the Manaila projections Completely wrong, reckoned the trucks would double output without increasing opex but then still didn't take delivery n shut it down leaving us $4 to $5m in debt and the potentialof Merc cashing in billions of warrants, Lied about having a plan to stop bergen converting. AP who actually said and I quote 'we'll be mining BP by Xmas.... And that was Xmas 2017 by the way. Also the man that stated in an RNS after being in the CEO role for months that Eureka was a great asset and will add Considerable value to shareholders. But no you rampers keep on defending the board. They have no clue what they are doing so, they jump from one thing to the next without giving too hoots about shareholders. 10bn shares in issue soon no doubt. We'll done vast team
When a share price is in free fall I really don't think it can be classed as deramping whatsoever, rather making valid commentary, however when someone such as yourself has been droning on and on on this board about 2p this 5p that for several years while the sp remains at all time lows it is you who really sounds quite silly at the moment castaway. Perhaps one day your 2p comments will come true, whether that's after a share consolidation remains to be seen.
Exactly my point Dodge, Vast have, courtesy of AH, have Said they are in NDA via a quuck tweet. Hilarious, not even bothered to do it by official channels as in an RNS, so what about all the investors who dnt use twitter?
Hilarious, yes I talked up vast as a good investment, mostly before another 3 billion shares were issued, we went backwards from Producer to explorer and an 80% drop in sp, yeah? Get it? I will not stand by and see investors loose money by being led up the garden path with mindless ramping and out of date factually incorrect posts such as like Piker just pointed out. You have to question why (looking at the sp) anyone would defend the Vast board at this moment in time. Yes there is a chance they will turn this around but everything is very very late and surprise surprise, behind schedule