Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
@Oneshareatatime, I share your view on target 200p, by when are you expecting Ince may reach this target, just curious to know your thoughts?
@Fukurokuju79, may I please ask what is your average here? I like your comments.
@Monkeydluffy, apologies my comment was for spero. I don't smoke anything. If we look at the UK & US stocks and cryptos the market as a general unit (not individual companies of course) rallied from Nov 20 until April/May 21.
@Monkeydluffy, generally the stock market moved up from Nov 20 until April/May 21 (except some badly run companies like VAST) and RMM was part of that general rally imo. Therefore, I don't buy your view that 30p to 60p is going to move very quickly within weeks. I agree with antharry, SP will move on confirmation of the financing deal.
Believe me FTseinvestor, you are at the right place at the right time. If you have funds buy some shares here and you will be in profit. Lots happened in 4 years, please read past RNSs
Award of Rights Under SARS RNS was after the share consolidation which brought the total number of shares to 213 million. As per the RNS these 5 super heros awarded themselves 2 million shares each so in total 10 million shares with an exercise price of 19.8 p with Vesting condition which is in the RNS.
10 million shares out of 213 million share is 4.69% and if they sell 2 million shares each at 19.8p (if and when we get there) they will pocket circa £400,000 pounds. Basically, they awarded themselves a free cheque worth £400,000 each.
What have the BOD achieved to deserve 2 million shares each? I can see a case if they award themselves let's say 20,000 shares each (on top of their big salaries) to incentives themselves to an amazing job for us all shareholders.
Very well done AP and BOD.
I share your views QED and antharry. I often wonder who are the largest shareholders of Vast, we should all vote for AP to be sacked from CEO position, under his watch just look at all the lies and shambles and SP to where it is today.
Totally agreed who wouldn't want to share the name of the international bank as the conversations were at such an advanced stage with the international bank unless it was a condition of the bank like it was a condition of the bank that AP convert his BP stake and raise £5 mil. Who believes in this story? Blatant lies. AP must have support of largest shareholders to remain and continue as the CEO otherwise he would be out.
Ghaghoo is going to be Vast's biggest disaster and will sink Vast for good. Ghaghoo is not for a junior and inexperienced miner like Vast, it is a big project for a mid tier miner or a large miner.
Sorry, there is a typo in the 3rd line of my post, it should read since 2012 and not 2021.
@ Sandy, indeed, tpm never reached the planned 60k tpm.
James Campbell in the interview with Proactive when asked why are GEMD selling the mine and he was saying that this mine changed hands from Debeers and Xtrata (Major miner) to GEMD (Mid tier miners) to VAST (a junior minor) as the mine didn't fit into the portfolio of Major and Mid tier miners which after reading the GEMD RNSs, to me is completely false information. The truth is GEMD had endless problems with this underground mine and the sort of rough diamonds it produced didn't fetch a desirable per carat $$$.
Now AP was saying in the interview that Major and Mid tier miners have corporate overheads, etc. and hence it not viable for them. But as VAST is a junior miner it will be viable for us and he doesn't sound convincing at all as technical problems with a mine like watering due to an earthquake (and maybe the mine is not even suitable to mine after that earthquake in April 2017 - who knows), sink hole (which meant GEMD had to leave 300,000 tons of ore unmined), etc. are problems that any miner will need to deal with and it has nothing to do with a Major, Mid or Junior miner.
I think Zimbabwe is never going to happen and the reason I say is if we look at Vast's Website https://www.vastplc.com/about-us/our-team/ there is no mention of the Zimbabwe team. But if we look at Vast's website from 22 Jan 2021 https://web.archive.org/web/20210122170637/https://www.vastplc.com/about-us/our-team/ we can see the Zimbabwe team mentioned.
To me it feels like AP is super desperate and is worrying to death that Baita's results are not good (we will know in few weeks time) and Zimbabwe is never going to happen hence he is going for an extremely risky project like Ghaghoo.
Tue, 17th Mar 2015 07:00 - Full Year 2014 Results - https://www.lse.co.uk/rns/GEMD/full-year-2014-results-qm0fasi6h8pk
Tue, 15th Mar 2016 07:00 - Full Year 2015 Results - https://www.lse.co.uk/rns/GEMD/full-year-2015-results-k8k4ld99avioxba.html
Wed, 15th Mar 2017 07:00 - Full Year 2016 Results - https://www.lse.co.uk/rns/GEMD/full-year-2016-results-x96ygmbrhnzo194.html
Thu, 16th Feb 2017 08:16 - Update on the future of the Ghaghoo mine - https://www.lse.co.uk/rns/GEMD/update-on-the-future-of-the-ghaghoo-mine-8e0qe835fh5ri49.html
Tue, 12th Dec 2017 07:00 - Update on Ghaghoo sale process - https://www.lse.co.uk/rns/GEMD/update-on-ghaghoo-sale-process-lljy4jz6519hjoz.html
Wed, 14th Mar 2018 07:00 - Full Year 2017 Results - https://www.lse.co.uk/rns/GEMD/full-year-2017-results-dx6pw9wzom7xtm9.html
Wed, 13th Mar 2019 07:00 - Full Year 2018 Results - https://www.lse.co.uk/rns/GEMD/full-year-2018-results-ua73k1miwpi4q8e.html
Thu, 20th Jun 2019 07:00 - Sale of Gem Diamonds Botswana Proprietary Limited - https://www.lse.co.uk/rns/GEMD/sale-of-gem-diamonds-botswana-proprietary-limited-rcklzp1ioatm6fe.html
Wed, 11th Mar 2020 07:00 - Full Year 2019 Results - https://www.lse.co.uk/rns/GEMD/full-year-2019-results-ws1ko3t09bopnj2.html
Thu, 11th Mar 2021 07:00 - Full Year 2020 Results - https://www.lse.co.uk/rns/GEMD/full-year-2020-results-eiswxys2vsr27ta.html
Mon, 23rd Aug 2021 07:00 - Sale of Gem Diamonds Botswana Proprietary Limited - https://www.lse.co.uk/rns/GEMD/sale-of-gem-diamonds-botswana-proprietary-limited-uhx0akvwsygu2ir.html
Hello Everyone, after the RNS has anyone researched the history of Ghaghoo Diamond Mine? I spent several hours yesterday reading GEMD RNSs in relation to Ghaghoo mine and from the RNSs the summary is GEMD spent almost US $170.8 million pounds in four years since mid 2021 for Phase 1 development and sold rough diamonds worth circa US $25 million until the mine was put on care and maintenance in Feb 2017.
They also had an aircraft to service the mine (as this mine is very remote) which they sold for US 1.7 million after the mine was put on care and maintenance in Feb 2017. Vast don't have money for this sort of stuff.
GEMD annual care and maintenance costs for the mine are $ US 3.3 million or so.
As per their RNS on 14 March 2018:
"During the year, an earthquake of magnitude 6.5 with an epicentre 25km from the mine occurred. There was superficial damage to the surface infrastructure, however, the seal of the underground water fissure was damaged. This led to a large influx of water into the underground workings of the mine and dewatering activities were increased. Water levels are being effectively managed with continuous pumping.
In total, US$3.6 million relating to the once-off costs of placing the mine on care and maintenance and the costs associated to the increased dewatering activities due to the earthquake have been classified and reported as exceptional costs during the year."
Mine is currently full of water.
Mine also had sinkhole issues and wet issues. At least, one person lost their life as per the RNS.
In summary, GEMD decided to put the mine on care and maintenance as this mine was one of their biggest financial disasters.
Why do Vast who doesn't have surplus money from Operations at Baita Plai and need to keep raising funds through placing think Ghaghoo mine is a good project for them? In my view, this will be a suicide which will bankrupt Vast. Just read the GEMD RNSs below and you will see the picture clearly as well.
Tue, 29th May 2007 07:02 - Acquisition - https://www.lse.co.uk/rns/GEMD/acquisition-qc4oib0dyl3wn05.html
Thu, 25th Oct 2007 12:00 - Gope (Ghaghoo) Update - https://www.lse.co.uk/rns/GEMD/gope-update-mdad60fcgpyjhlv.html
Tue, 18th Jan 2011 07:00 - Mining license awarded - https://www.lse.co.uk/rns/GEMD/gem-diamonds-awarded-mining-licence-at-gope-upxvrng0tdcvpon.html
Tue, 15th Mar 2011 07:00 - Full Year 2010 Results - https://www.lse.co.uk/rns/GEMD/full-year-results-33juz5y5jizo8he.html
Mon, 18th Jun 2012 07:00 - Fatalities at the Ghaghoo Mine Project - https://www.lse.co.uk/rns/GEMD/fatalities-at-the-ghaghoo-mine-project-ngiq5drmuu4p34a.html
Tue, 18th Mar 2014 07:00 - Full Year 2013 Results - https://www.lse.co.uk/rns/GEMD/full-year-2013-results-odeiwwazkft1jn2.html
Fri, 5th Sep 2014 07:00 - Opening of Ghaghoo Mine - https://www.lse.co.uk/rns/GEMD/opening-of-ghaghoo-mine-s0irvicydd2ilhk.html
Did you not read the financing RNS released earlier this year?
@Onaplate, JORC from an independent company costs a lot of money. In the interview with Crux Investor, (last November I think) you will hear AP say an independent JORC could cost a couple of million pounds.
Craig is on the payroll and on the board, so Vast/AP got Craig to do the estimates and the best industry practice for an independent company to do the JORC.
Hope this helps.
Vast needs lot more funding (many more millions) to fully develop BP hence why they went to the "Tier 1 International bank" to consolidate the Atlas Debt and for more funding.
Vast's revenue from BP won't be able to cover all the future funding required to fully develop BP.
Many of us here may bet all they've got if next Monday Vast will release RNS saying they have signed the deal with the Tier 1 International bank and consolidated Atlas debt.
Yep, time for Vast to share production numbers. Do we think as the new mine plan was put in place in March 2021, they will release 1st production numbers as per the new mine plan in September 2021 as that will be 6 months & Vast have stated in a previous RNS that production numbers will be released twice a year.
They may release the production numbers early if they are very good.
AP wont be dumping his shares at the current SP level as that will incur a massive loss.
Results announcement for year ending 31 March 2021 is expected in July 2021. Do we think that is going to be the next RNS?
one good RNS and this share (this horse) will go from walking to canter.
Leaving short aside (which is definitely at play here), more importantly Dr. Bradbury took part in the placing [16,666,665 shares * 0.30 placing price = 4,999,999.5 / 100 (to convert to pounds) = £50k ] and invested £50k of his own money and as the CEO if he has put down £50k I think we can invest at the current SP price which is up by only 5p (after taking into account consolidation of course) and that means there is plenty of upside in the long term.
If you are going long for at least 12 to 18 months like me then this current SP level favours buying.
Dr. Bradbury took part in the placing on 15 Feb 21 @ 0.30, with this fact in mind, we don't need to worry about anything in my view. When he took part in the placing he would have planned for at least 3 to 5 years ahead as the CEO obviously.
The drop in SP is due to shorts. It is a widely known fact that after share consolidation shorters are very active.