Member Info for APD708

Thank you very much djryan for the information.

Thank you Cornish. This is great information which will reduce the production costs once the contractors have done what Dr. Bradbury and Co. need them to do.

Hello All, does anyone have information or views on why we are using contractors please? Is it to ramp-up production along side the full time miners we have working in the company? Or is it because we don't have enough full time miners working in the company?

And by what % the production costs have increased due to use of contractors vs mining by our full time miners, please share if you know?

One last thought, for how much longer will we use the contractors?

Hi Sandy, I agree with you, it will be sink forever or sail into pacific :)

But the risk is massive here due to AP's track record & poor reputation hence no one is buying (I have no doubt if it was another CEO we would not be in this situation), buying will resume here on positive news.

Vast's main problem is still the same, they don't have money, I wouldn't be surprised if they will have another placing in the next 8 weeks, in fact, I am expecting another one in circa £2million range.

When the SP was around 6p, I forecasted it will be in 2p range and we were there in 3 to 4 weeks.

Let's hope for all of us shareholders who are under, Vast knuckles down and delivers....

Are there any shareholders on this board who has actually made any profit? Please don't share your profit if you are uncomfortable but it would be good to know if someone did make a profit..... I suspect day traders would have with the recent 10% rise...

What, did you add £5?

If you are really that confident why don't you declare details of your positions?

Hello both, thank you for your responses. I am sure many other shareholders will agree Ince has no plans of going private. Have faith in your investment in Ince. We are in a situation none of us want to be in. Let's hope it is soon over.

I think appointing a new reputed and credible NOMAD could be seen an opportunity as well for many reasons.

Hello Everyone, does anyone know from experience or from following other companies how long does it take to appoint a nomad please?

Hi Littledabbler, so sorry to hear about your position.

From my view, one of the below scenarios will play out with Vast (I don't have any experience to think of a timeline for the below scenarios but assume the timeline will be in months) and I think scenario #2 is the likely outcome:

#1. BP won't be profitable and Vast won't secure funding and will go into administration and trading suspended. Retail investors will lose their money.

#2: BP will be profitable and Vast will secure funding (not from Tier 1 banks but other lenders like Atlas who are willing to fund for a higher return for the risk they will take with Vast) to pay Atlas and eventually the SP will rise and will even pass 10p but this could take time probably up to 4 quarters (as Vast has said in their recent RNS they will release BP figures every quarter). With every positive quarterly update market will gain confidence in Vast. The opposite will be true as well.

#3: With the copper prices high and with the assets Vast have on their books, it might become a takeover target, no idea who would want to buy Vast and if so what price they will offer Vast. This is an unlikely outcome but a possibility for sure.

What is your investment horizon with Vast? Are you able to risk it all and hold Vast for the next 12 months knowing scenario is a very real possibility as we really don't have any meaningful production number from BP? We know it is producing but was it just the long hanging fruit/copper that Vast was easily able to mine and cash in.

We also know market sentiment can change quickly. Let's hope for the sake of most of the share holders who are under Vast start going into Green from past 4 years being in Red.

Let's see.

Hi @wcbham, so sorry to hear about your loss, it is very sad to see genuine investors losing money, what was your average? when did you buy? Just wondering whether your circumstances allowed you to hold the shares for longer so at least you were even?

Ince is not a speculative investment like many others on AIM so we really need positive RNS and progress from Ince to see more retail/institutional investors buying Ince.

Sure Rob and antharry, I totally agree with you the BoD has not done anything to boost the SP since AP joined as the CEO in early 2018 and one of the most important jobs of a publicly traded company is to return value to its shareholders and investors in Vast have stumped the money from time to time with all the placings but is it really practical to replace the entire BoD in one sweep is a question one needs to deal with?

I suspect the entire BoD can't be replaced in one sweep. This kind of change will need to be implemented gradually.

Let's see. If copper prices maintain at current levels or even drop off 10 to 15% and if Vast can turn around in the next 6 months then surely the new investors buying Vast at this price will at least make some profit but all at the expense of long term holders.

If emails released on https://vastresources.co.uk/ are true then AP's integrity and trust has been compromised & ERDB and International banks don't want to do deals with Vast with AP as the CEO.

Of course, in terms of strategy Vast can try a few things from this position (of the chess game so to say) to save Vast and eventually turn it around over next few years but the one I think might be a distinct possibility is AP might step down as the CEO and they might promote A Hall as the CEO as in the recent RNS A Hall was promoted to the Board. This to me is a signal of this probable move. AP can remain as a Director.

Or Vast needs a new CEO ASAP. But will someone want to join Vast as the CEO? Hence my thought that A Hall could be considered.

Let's see what happens next. Whichever the route ahead for Vast it is full of challenges and the long term share holders (those holding for the last 6 months and before) have truly been destroyed.

What do we think about this acquisition?

Any my message in the other thread "Outlook" about M&A earlier today was very timely.

This was traded Over-the-counter (OTC) or off-exchange.

As per yesterday's RNS (on Page 4 - https://www.rns-pdf.londonstockexchange.com/rns/1360Q_1-2021-10-25.pdf),

"Until the full effect of the friable ground had been assessed the Company believed that it would be able to maintain its statement made in the previous announcement of 10 August 2021 that it was on schedule to meet accumulated net operational cashflow projections to April 2022 in accordance with the revised mechanised mine plan announced on 30 March 2021."

So in future if more of friable ground(s) are discovered/found then that would lead to massive reduction in the net revenues. Are you serious AP and VAST? How can the market trust and invest in VAST with these sort of RNSs?

Okay, the market appreciates that VAST can predict friable ground(s) but when found that can't lead to a reduction of 66% in net revenues. Sorry.

Let's assume the worst case ff the above happens again at least once a year then VAST is not investable as BP will never be profitable.

Let's just hope that this friable ground is a one-off.

Hi Pecten, I agree with you but just adding the below from my post yesterday

"Vast is in serious trouble. It has only 2 options as I see it, find new financiers to fund BP and Manaila restart and pay off Atlas or raise money through more enormous placings assuming new/existing private investors will take part in placings."

Vast can refinance if anyone is willing to lend money to it for BP and Manaila, this would be non-dilutive but keeping AP's track record in mind in regards to placings and his own words in the interview with Proactive investors in August that "they haven't done a placing in while" was his response to one of the queries from Proactive investors, I feel there will be another placing.

Thanks damofarl. I also think there is little downside from the current SP. Let's just hope they are generating enough revenue to cover the operating/company costs and no placing is required which Adrian has confirmed on the last invertor meet won't happen.

If they pursue M&A let's hope that won't be at a cost to share dilution.

Edit: That is ""66%"" (and not 34%) reduction and EBITDA for year ended April 2022 is expected to be circa £ -2.6 million.

As per this RNS, Net Revenue for 21/22 is expected to be $6.0 million (lower value) from $17.2 million which was released in RNS on 30 March 2021. That is 34% reduction and EBITDA for year ended April 2022 is expected to be circa £ -2.6 million.

Where will the money come from to run the company, operate BP, restart Manaila and fund Ghaghoo?

Okay, as per today's RNS,

"the Company is pleased to update the market that it is now actively engaged in several financing discussions focused on both Manaila and Baita Plai. It is the Company’s intention that on conclusion of these discussions, its existing finance creditors would be refinanced and the restart of production at Manaila would be supported via a non-equity linked finance structure, such as royalty finance."

But, Vast was in talks with the International bank for 12 months last year and as we all know in the end the International bank offered no-deal.

Vast is in serious trouble. It has only 2 options as I see it, find new financiers to fund BP and Manaila restart and pay off Atlas or raise money through more enormous placings assuming new/existing private investors will take part in placings.

And we need the copper prices to maintain at the current levels or around $6,655 per ton which is what Vast has used to forecast their figures.

What's with Ghaghoo and Zimbabwe? Get out of Ghaghoo please Vast. It makes no sense.

https://vastresources.co.uk/ is being kept up to date.

After the RNS today, it now says "TODAYS RNS ... WHERE HAS THE £7M RAISED IN THE PAST 18 MONTHS GONE ??? .... What did the investigation by a leading City Broker REALLY find out.... Why have the AIM regulators not looked into VAST"

and

"WHY CANT THE BOARD BE TRANSPARENT WITH THEIR INACTIONS ? - WHY ARE PRELEA AND TUCKER STILL AT THE HELM - WHAT DONT THEY WANT OUTSIDERS TO KNOW !!"

Is this whistle blower behind vastresources.co.uk?