Member Info for APD708

Doc says in 2 to 4 weeks there will be some news from what he has heard. Let's see.

"Corporate Restructure takes time and lots of money due to legal costs. I suppose the plan must be to float out other co assets but is anything other than BP worth a bean ? Nobody would touch it if AP was involved.

Sorry, all just wishful thinking."

Eric, I am very curious if you know from reading or if you know from your experience what are the estimated legal costs and time frame for corporate restructuring????

Mark, I have understood and realised you are a senior citizen so I am not going to have a dig at your posts. Let's hope Vast goes up from here, if it goes down there is no coming back I fear....

I think there is another way which is better, sell Blueberry and Zagra (find a buyer, AP has contacts). Another £6 million placing at the current SP 0.12 will be another 5 billion shares. Looks like the shares from the lasting placing haven't churned yet. After the placing the SP will be what between 0.06p to 0.08p.

Who will be willing to take part in the placing after the recent bank news?

Sarah made a bloody good point a couple of days ago I think - why didn't AP raise all the cash needed to get BP into production straight after getting the license as per RNS on 10 Oct 2018 and at that point the share price was 0.60. Vast/AP could have easily avoided all the placing last year.

From the RNS and activities Vast undertook between 2018/19 it is clear Vast/AP focused on too many projects with no free cash flow and profits like (of course one needs to build a pipeline of assets but first you focus on generating revenue from cashflow from one asset):

1. Manaila (fair enough this was a producing mine and as per AP 30% costs were attributed to transportation as flotation plant was far away) now on maintenance and care.

2. Blueberry: drilling results were released as per RNS on 22 Jan 2019 and as per AP “We remain on track to crystallise the value of this asset for shareholders through the IPO of EMA, with this scheduled in 2019. I look forward to updating on progress as we move towards rapidly expanding production at our Romanian assets and establishing Vast as a leading mid-tier mining company in the region.” What is happening with this asset, not returning any profit and the market is not pricing this in looking at the current SP. IPO?

3. Zagra: as per the RNS on 27 Feb 2019 "Core samples are currently being submitted for testing and the Company expects the final drilling results within six weeks." After this date I can't find the drilling results RNS. Did I miss it? Does anyone know if the drilling results were released. Again, IMO the market is not pricing this in.

4. Chiadzwa Community Diamond Concession: we are waiting for how long now to see what is going to happen with this?

5. BP: we are in production, let's hope this is the fortune cookie we are all waiting for.

6. I am sure I have missed one or two other projects like the gold project in Zimbabwe where we wrote off the debt and walked away from the JV.

It looks like AP is like a little child whose attention span on one specific thing doesn't hold very long. My advise to AP is sell this other assets like Blueberry and Zagra at the least (if there is a buyer out there), I don't know how much we will get for them (I am hoping with Gold/Copper prices at an all time high we will surely get more than we paid for them) - from this sale repay Atlas/Mercuria, retain Manaila if there is substantial minerals which we can mine in in the future. Progress the diamonds concession if there is any value.

I am sure AP you will get a chance (once BP starts returning profits and the SP is up) to buy other assets in the future with your contacts and that kind of news would actually boost the SP.

Right now, even if Vast buys 5 other assets (I know they can't) the market won't react to it positively.

AP, we need a road map for Vast before it is all too late.

ok @xcoder, if that is true then it is re-assuring a little. Thanks.

As per https://www.jobrapid.ro/companie/vast-baita-plai-sa-p-l-baita-plai-bihor-189961.html all the jobs posted for BP have expired (please translate in english in Chrome) so this means that either the hiring is completed which is +ve news or jobs withdrawn which is -ve news or no one applied and they expired but that seems unlikely in the current environment.

Let's see what is in the next RNS whenever it comes.....

Agreed @gbk74. I think gbk47 has stated in a post yesterday it is this drip feed info which is super worrying and suspicious like

1. AP had to sale his stake
2. Bank wants us to raise
3. Then bank says about restructure.

So why should we trust this RNS @ fingerscrossed is all I am asking? C'mon it is becoming increasingly obvious this guy AP is not an honest bloke. How does he sleep at night?

Do we know AP and Roy had 20% stake in BP? I ask as I invested recently in Vast, did read all the RNS going back to 2017 I think but I couldn't see at what point in time did AP and Roy own 20% stake in BP. If anyone has this information I would be grateful if you could please share?

@Sarah, I agree with you, this bank thing was just a smokescreen for AP to convert his stake, until we see a bank deal we can't help but think this was fake news. Does anyone know what are the rules on AIM RNS? Do they have to be factually correct? I imagine so as they affect the share price.

As per an earlier Atlas Non Conversion RNS, Atlas agreed to not convert until 1st Jan 2021. So if they convert THERE WILL BE AN RNS as that increases the shares outstanding.

Aren't we all amazed that in the last RNS there was no mention about Atlas??? If the bank deal had gone ahead AP was going to draw down in December 2020 and pay Atlas.

IS HE REALLY QUALIFIED TO RUN VAST AS A CEO????? Or he was picked as he had contacts in Romanian government.

I am in no doubt if there was another CEO running Vast for the last 3 years, the fate of Vast and its shareholders would be totally different in a good way.

Most will agree that another deluded ramper is RobSaunders. No facts just baseless stuff comes out.

If any company could do this it is Vast, copper prices at an all time high and Vast at an all time low. Incredible!!!! The entire BOD should work for free for a year. Have a look at Kavango (their senior team don't take any salary till they find what they are looking for in their assets). May be Vast should have a call with them and learn a few things man........

@hoffy, as per the RNS on 29th Oct 2020 "Vast has completed a mineral resource estimate at its 80% owned Baita Plai underground mine, which has been refurbished and is currently producing. This mineral resource estimate is based on the recent completion of an underground diamond drill hole programme, which was executed during March–September 2020. The mineral resource estimate has been prepared by Craig Harvey, MGSSA, MAIG, on behalf of Vast and in accordance with the principles of the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves, the (‘JORC’) code."

Is it a standard and industry best practice that the JORC is done by someone in the company? I don't know hence I am asking. I would have thought this needs to be done by an independent company. Is this a reason why the SP didn't even move on 7th Sept 2020 "RNS: Baita Plai Project Production and Operational Cash Flow & Baita Plai General Mine Update" and on the RNS on the 29th Oct 2020.

Wouldn't the market go big on Vast on the 7th Sept as the RNS says circa $104 million in 3 to 4 years revenue (of course not bottom line)?

Lastly, do you trust the recent RNS which says the bank will reassess the transaction??? The chit chat with the bank started in March 2020 and as per AP lots of due diligence was completed so one can't help but think what kind of due diligence was being done? The bank didn't know about Vast's corporate structure. Seriously??????? I am sensing this is an outright lie. I don't know the AIM rules related to the accuracy within the RNSs so I am only saying this is an outright lie based on my feeling.

The way the company is being run presently, one can't help but think that the BOD is in AP's back pocket.

I eagerly await to see further RNSs and what is Vast planning to do next to take this company on free cash flow and profits.

Happy New Year Ince Investors!

Just wondering if you have any price targets for 30 June 2021 and 31 December 2021?
I am going to hold for the next 2 years at least.

GLA.

As per the RNSs since March 2020 the asset backed debt finance was linked to BP. The negotiations with the bank were based on finance linked to BP. So what really happened between the bank and Vast we can only guess. One thing is becoming clearer day by day we cannot trust AP until he delivers results and the SP start rising up consistently.

I researched into some of the companies on AIM that has high shares outstanding and I came across Syme which had its IPO on 23 March 2020 (as per google) and Syme has 32.57b shares outstanding currently trading @ 0.58. I can see there are some institutional and professional investors and of course it operates in the FinTech sector.

LON: SYME
Market Cap: UK£197.185m
Shares outstanding: 32.75b

Is Vast's dilution a genuine concern if somehow AP or the next CEO re gains the trust of the shareholders with current 20 billion shares outstanding. Any thoughts?

@Chris, indeed I started investing in shares 2 months ago. I primarily invest in properties. Yep, I always learn the trade I go into so I don't shy away from asking what the acronyms like MM mean :)

In terms of my advise, I only started warning others not to invest after the recent placing and RNS and my advise says don't invest until further RNS.

Others here have asked me same why I am telling others not to invest but I am holding my 5 figure investment. And I have reminded them to read my posts, I am saying dont invest until further RNS which is clear and has an action plan to turn vast around.

Why I invested in Nov in Vast is because after researching and even knowing AP's past I thought the worst was over and then came the placing and so on..........

Chris, we need to remind ourselves about Karma: what goes around comes around. I strongly feel others should not invest until further RNS hence my advice. Of course, one needs to do what they think is right.

@caselogic, please read my post again, I have said don't invest until further RNS and what is AP's & Vast's plan to turn this company around.

Simply saying don't invest is meaningless and I am not saying that.

This will sting a bit to some I know. Who here knows the history of Pacific (or whatever it is called) Property project that Senior Prelea and his son were involved in. Looks like son has learned well from his dad and following in his footsteps.

3 years at helm and the SP has tanked, tried whatever he wanted in 3 years but nothing significant worth value to the shareholders have been delivered. How do you go to sleep AP? And apparently he was once a trader himself and in his own words he totally understands why folks invest and the need to deliver value to the shareholders.

I see your point @caselogic & I understand it. Because we don't have facts I am assuming. I quoted Vast's estimates done by Craig from 7th Sept. I didn't make those numbers up. If I did, then that would be foolish.

As you say, we don't have details on the sale figures as that will be commercially sensitive for sure.

yes, I am holding and warning others not to buy because I don't want to lose my capital and I don't want others to lose their capital. I suggested others don't invest until further RNS which outlines what Vast is planning to do next to restore the trust and get the company on the growth trajectory.