Member Info for ben1093w1

That was always the plan....get BP into FCF state then focus on the other income streams and develop them using BP

VAST generally churns through 1M within a month and half to 2 months so my opinion is that they just went for a big raise to see them through at least another month with some buffer room. I don't think we will have to wait till next year till first payment...
JORC provides no real uplift to the SP IMO, we know the general value of the asset, we just need the official document. The JORC is more instrumental to underpin the finance deal. Plus the first lot of placement shares hit before the JORC release so number 2 doesn't ring true. Atlas can choose to convert and its better to have the cash sat there waiting ahead of time as placements take a week or so to organise and sell.
I dont see us dropping below 15 not taking into account any further unfavourable news....
How long it will take us to rise out of the teens again is anyones guess....

VAST generally burns through 1M within a month and half - 2 months so i dont think it will be as late as Q1, my reckon is that went with what they could get away with because they'd rather have a bit of a buffer of cash till first payment received as placings cost money to organise.
Placing is coming in before JORC, the JORC doesn't really add material value immediately so I doubt the SP will see massive uplift from it anyway, the JORC will just help underpin the finance talks.

Apart from any unexpected news i don't see us dropping below 15

Can you use reply rather than starting new threads with the same title, quite annoying when catching up on the day

I dont think there are many shares out there with 13b shares in issue

Makes sense thought it would be the case

This may be a dumb question that someone may want to answer as I don't know what the end to end process timescales are but if we are ahead of schedule in terms of the amount of concentrate available to ship out by end of the month, why are we not sending a shipment earlier? I understand from an offtaker perspective the collection/transport costs means its more cost efficient to receive one large shipment than 2 smaller ones but if the intial 180 or whatever was promised is already ready i can't see why we wouldnt just ship this soon as to get the first payday

Yeah nevermind my mind is elsewhere this morning, was reading duration of Merc facitility not atlas...opps

One of the reasons alot of people have me filtered on here lol

I pulled that from the Flash note/SP angel broker note so it would already be priced in effectively anyway. If you take a look at the freecash flow numbers in them docs that accounts for servicing the debt so we would still very much be cash rich within a few months of production

Yeah i'm just unclear as to whether the standstill period of no payments applies if we are cash generative, if it does then thats great and I imagine that the VAST may opt to clear the debt early before resuming operations at MPM to release it from 100% Merc control

I'm also wondering when this will come into play considering current gold prices...

The Blueberry project is due to be listed via primary offering later in the year to provide
additional cash inflows and support asset development longer term.

So I did some digging, seems we owe 3m plus interest still to Merc, lets hope they have fair repayment terms

Credit risk
The Company is planning to direct $2m of the latest $15m (gross) convertible bond proceeds
to close the $1m SSGI loan and repay $1m of the outstanding $4m Mercuria loan. While
Atlas loan facility is convertible into Vast shares at an adjustable conversion price, we see
credit risk limited to the remaining $3m owed under the Mercuria debt (plus accrued
interest)

The Company had $5.5m in debt as of Apr/19 with $4m owed to Mercuria under the
Tranche A drawn in 2018 and $1m outstanding to Sub-Sahara Gold Investments (SSGI) who
between two of them share a roughly 50/50 security over Manaila Polymetallic Mine
(MPM). Post the drawdown on the $15m facility and repayment of SSGI loan, Mercuria will
hold a security over 100% in MPM through a 24-month standstill agreement.
The team is currently finalizing the $15m (gross) secured convertible bond with Atlas Capital
Markets, a UK based fund, offering development funding for Baita Plai and Chiadzwa as well
as refinancing $1m of Mercuria and $1m of SSGI debt. The Company secured nonconversion rights for the facility allowing to potentially replace Atlas notes with a cheaper
source of funding (see loan facility details below).

I thought we had paid off the outstanding on Manalia but maybe i'm incorrect, its been a while

All depends on the offtake deal which we have zero details of the agreement in place

People expect the SP to react like a normal SP, its not normal to have 13 billion shares in issue, this is one of the main issues for most moves being smothered

Legend has it that sonic and Darth Trader are still awaiting their 0.09 entry

several months? There was literally one last month

10th Sep 2020 7:00 am GNW Progress on asset backed debt financing and Placing to raise £1,683,000 before costs

Normally posted on here
http://www.oraclepower.co.uk/investor-relations/regulatory-news/
As well as an RNS to state its available

No it won't, a significant drop yes but side projects would most likely be fast tracked