Member Info for APD708

Vast has next week (5 business days) to issue an RNS in regards to Atlas debt which is due on 29th Jan 2022 and release production figures for BP and below are the possible options in my view (there could be more):

Option 1. Re-finance with Atlas (assuming that Vast will be unable to secure a better deal and also assuming Atlas have agreed to re-finance)

Option 2. In conjunction with 1, a substantial placing (assuming Vast will be able to raise though placing)

Option 3. Re-finance with another lender on similar terms as Atlas or worst (we can't see how in the current rising interest rate environment which has just started and is expected to continue for at least a couple of years, Vast will be able to get better terms than their current terms)

Assuming that BP production figures and revenues are half decent and assuming no placing and re-finance agreed we can anticipate Vast's SP to definitely climb higher from the current position. Any placing will of course supress the SP.

Considering the above, on balance, do we think buying Vast at the current SP with a 5.88% spread (earlier in the week this was around 10% and higher) will return some profits in the next few months?

100%

Agreed eric, AP's shares has no wiggle room.

As Andrew Hall called it on the meeting, the elephant in the room is the Atlas debt, without Vast turning profit (which is at least 12 months away in my view) how will Vast settle Atlas debt, but also Vast needs lots more money to develop this mine further (please read previous RNSs related to mine plan where they have estimated development costs), what are their options?

Option 1 = placing (which I think is inevitable)
Option 2 = refinance with another lender which won't be on favorable terms for Vast
Option 3 = someone mentioned use funds from Zimbabwe settlement (do we know when this is likely to happen if it happens at all?)
Option 4 = someone will buy Vast at a dirt cheap deal (who will dare?), this won't be good for the shareholders I imagine as we would have no idea what the new company's plans will be with Vast.

AP needs to go as the CEO. If he wants to remain as a director then that should be fine.

I put a question to Craig on the meeting, why didn't they plan for 3 smaller rigs instead of the jumbo in the first place and his answer lacked confidence, and that proper thought and planning had gone into deciding the jumbo in the first place.

Vast are hiding a lot of their real problems is the feeling I took away from the meeting. Don't get sucked into investing in this share until after Jan 31 2022. Let's see what happens next.....

IMO - Placing is being priced in the drop in SP today after the presentation

I suspect the most likely explanation we will receive from the BoD is more debt is not needed at the present time (& debt needs to be repaid no matter whether the copper prices stay up or go down) but keeping shares at hand to raise money (we hope from existing or new institutional investors) in an unforeseen scenario like the stope collapse which may impact significant revenue over few months.

Good to read your comments Know0. I hope in 12 months RMM will be on a one-way trip to a much higher orbit. I suspect shorters will win from time to time but overall will be squeezed. Those holding RMM long term will be rewarded I hope.

Below is from RNS on Tue, 2nd Jan 2018 10:30. Can we ask him to read the 2nd Jan 2018 RNS and just ask him one question - what went wrong? How long before can he get VAST back on track (if he can)?

"It gives me enormous pleasure to present my vision and mission statement for Vast at the beginning of 2018, coinciding with my appointment as CEO. Before I go into details about how I see our company progressing during the next 12 months, I would like to thank my predecessor Roy Pitchford and wish him the very best of luck in all of his future endeavours.

"My appointment as CEO has occurred at a highly active and exciting time for Vast, and I am delighted to have been chosen by the board to take the Company forward. I have of course been involved with Vast for quite some time, and my involvement in the Romanian mining and metals sector goes back some 26 years. One of my first business ventures in Romania was in the early 1990s as a bulk iron ore and steel trader, a role I held for almost seven years before moving back to Australia to develop a career in the property and earthmoving sector. Having built a successful business in Australia, I returned to Romania in 2003 to apply the skills I had developed to this growing economy; my initial focus was to develop properties for the Romanian Ministry of Defence followed by private sector developments. Nonetheless, my heart remained attached to the resource sector, and having identified a number of highly prospective projects ripe for re-development, I joined Vast in 2012 to support the development of these assets into profitable mines. With a strong network of contacts, extensive experience in-country and sound corporate knowledge, I look forward to supporting the continued growth of our Company.



"It is with this experience and goal in mind that I have set out a framework of objectives for 2018, both corporate and operational, through which I intend to deliver real returns for our shareholders. One of my primary tasks is to implement a wide-ranging cost cutting and saving programme at the corporate level during our next phase of growth, and, when balancing this with increased operational performance at our producing mines, I believe I can substantially enhance our current financial model.



"Looking now to our operations, 2018 will see us continuing to focus on our core assets in Romania and Zimbabwe - namely, the Manaila Polymetallic Mine and associated Carlibaba extension area and the Baita Plai Polymetallic Mine in Romania, together with the Pickstone-Peerless Gold Mine in Zimbabwe. We have comprehensive work programmes underway at all of the above interests, aimed at directly increasing production, efficiency at every asset and move towards operational profitability in Romania in the near term. News announcements will be made regularly in regard to achievements, in addition to our standard quarterly production reports - the first of which will be delivered by the end of this mo

Cane and all the investors, we can relax now on the NOMAD point.

Let's hope Ince takes less of a hit next Monday as the effect of the new variant will become more clearer and will be covered by all news outlets including BBC.

I do really hope the December interim results are good which I feel like they will be as in today's RNS there is a mention of that :). Let's see....

Hi CaneToad, thank you for all your efforts and posts, I am sure many PIs reading these posts will greatly appreciate too.

Taking into consideration the RNS on 19th and 22nd Nov, does anyone know when is the actual deadline to appoint a NOMAD please?

As per the RNS on 22nd Nov, it says "Following the announcement of the suspension of the Company's shares from trading on AIM on 28 October 2021, the Company reports that steps to appoint a replacement Nominated Adviser are in progress.

Pursuant to rule 1 of the AIM Rules for Companies, if an AIM company does not appoint a replacement Nominated Adviser within one month of a suspension then admission to trading of its shares on AIM will be cancelled. Accordingly, the Company is using all reasonable endeavours to appoint a new Nominated Adviser as soon as practicable. A further update will be made in due course."

So then today is the last working day when Ince need to appoint a NOMAD as the shares were suspended on 28th Oct (28th Nov is out of question as it is a sunday), right?

If LSE is reporting correctly, the sells outweigh the buys today and yet the SP has climbed higher. Of course, we want to see Vast's SP to climb higher but anyone with an explanation on why the SP has climbed higher in light of sells exceeding buys today?

Good point JmcJ.

Adrian clearly said on the investor call (which was recorded) and I am sure many of us know he said no M&A with dilution and M&A with ££££ from profits/operations.

What I don't know if he is legally in trouble to misled the investors? Are there any legal folks on this board please who would like to share their view?

We all just hope they didn't acquire Arden to hide decline in Ince or anything of that nature. Let's see....

Is it going to be tomorrow they release an RNS that we have appointed a worthy NOMAD and trading starts. Last year, they announced interim unaudited results on 1st Dec, does anyone have a view if they will do so this Dec please?

sorry chopper, i quoted 7500 miles instead of kms, good spot.

Spot on Sandy. BP mine if it can produce at 2% copper without loss and the mine life can be extended then happy days. I have learned a lot investing in and following RMM which is in a similar but better turnaround situation and have recently sorted their finance (they are also planning to implement an ore sorter next year and hoping to put into production in H1 2023). They are getting there slowly.

Vast can achieve the same but will need lot more money and time to develop the mine and I hope they look after their employees (exist of Marcus Brewster after only spending few months with Vast doesn't fill us with confidence whatever the reason of his exit may be, someone leaving Vast is not a good sign) as mines don't operate by themselves.

There is a big difference between RMM's CEO and our CEO, their CEO is vastly more experienced, reputed and no past bankruptcy situation like ours.

@fools_nightmate, MIRACLES DO HAPPEN :), let's hope for all the shareholders who are under massively that in a year or two Vast starts turning around.

Fuku, you are good for the filter bin, my last words to you, I am not sounding like a 3 yr old, it shows your level of understanding. I don't have anger issues, I don't give s h 1 t to others and I don't take it. On your point about sense of humor, again you've shown you simply don't understand the difference between making someone's topic which is important to them into a joke and sense of humor, most sensible folks will understand what I mean, but you won't.

For those, who think research and then invest, they miss the point that research is not a one time activity, it is an ongoing process which one undertakes in light of changing economic, political and environmental developments.

I will avoid engaging with you from now on as you're useless to me in every way.

Dont' need your atb, keep it to yourself.

I started a topic, those of who who try to make a joke of it, got it back from me. So it wasn't me who first started, those who did know and I repeat I don't take **** online or otherwise and those who try to be fresh with me will get back. Do you understand?

Hi Fuku, I am entitled to my opinion and so are you, like I said online or otherwise I don't take **** from anyone, I find you lot insulting trying to make my topic into a joke but you didn't succeed. I bet most of you who had a joke at my topic haven't even considered.

Don't lecture me dude. I am wrong up enough to be your grand father's age.

Hi Lucan, indeed, it was in the news yesterday, I checked google maps as well as we are approx 7,500 miles from British Columbia where the floods were.

A couple of days ago, I started a Risk Analysis: Natural disasters and some of the naive posters on this board were making a joke out of it, they have forgotten about Covid & the impact its had on financial markets and many other areas and don't understand the increasing risk from natural disasters which are real. Anyways..........

@Bertiethebarrel, I am not actively looking for things to go wrong here, I bet you haven't even thought of risks due to natural disasters. It is easy to take a **** at someone else unfortunately for those of you having a go at me I won't have it and your responses are useless. If you lot don't have anything useful to share then SHUT UP. Just look at cornish's response, thank you mate.

I am significantly invested here and looking to invest more.

Recently, VAST acquired Ghaghoo mine from GEMD and it was shut and one of the reason was damage due to earth quake hence I thought about checking.

Thank you very much Cornish. Indeed, risk profile is low.

There were 2 earthquakes in Oct 2020 of magnitude around 2
1) 31 Oct 2020: Was near Corner Brook which is approx 228 kms away from Baie Verte (where our mine is)
2) 23 Oct 2020: Was near Lower Cove which is approx 349 kms away

There could be a risk from sea level rise in the next two or three decades I suppose but I don't know if our mine and mill are significantly above sea level and hence no risk or very low risk. And also, as per the investor presentation on 23rd July 2021 "Potential +20 years mine life based on internal company mine plan life" so we are ok.

Is our ming mine or our mill nugget pond on any earth quake fault lines? Or has earth quake ever been recorded around these two assets please? Is there a possibility of any other natural disaster around these two assets that could put the ming mine or nugget pond out of action? Any views from anyone please on this topic?

I am just considering these external factors as part of risk management as I am significantly invested here.