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If, and when, we get the diamonds should have far reaching implications not only for Vast but for Zimbabwe and its future economic plans. Plans many of which are predicated on the return of foreign investors. The government is apparently trying to establish its creditability and encourage foreign investors to return after the disastrous Mugabe regime. So the implications for Vast and potential business investors, both old and new, is critical for the future economic growth of Zimbabwe. If they can be seen to deal as fairly and openly as possible with Vast, and do it in a legal and transparent manner, they stand to gain enormous credablity and favourable publicity, not only in the eyes of many investors, but the governments of other countries. I am convinced that many businesses are watching and waiting for the final outcome of what appears to be a battle about democracy, the actions of the government of Zimbabwe, respect for the rule of law and the outcome of Vast's legitimate claim for the safe return of its diamonds.
I find it strange that neither the court nor anyone from Vast can actually say that they have been to the bank and have seen the diamonds. Surely a court official and a lawyer for Vast could go jointly and at least prove the diamonds do or don't exist. The court order in favour of Vast is meaningless if the court hasn't bothered to verify that the diamonds exist. The whole matter has become increasingly unreal and incomprehensible.
It's now almost 5pm in Zimbabwe. Vast must know by now whether there's any possibility of the diamonds being available tomorrow. The company should release the RNS this evening. What's the point in delaying the agony until tomorrow....
I know full well the responsibilities that await me as I enter the doors of the Diamond Vault and I'll strive unceasingly to try to fulfill the trust and confidence that the shareholders in Vast have placed in me your CEO and the things in which I believe. And I would just like to remember some words of St. Francis of Assisi which I think are really just particularly apt at the moment. “Where there is discord, may we bring harmony. Where there is error, may we bring truth. Where there is doubt, may we bring faith. And where there is despair, may we bring hope.” And to all the investors, be they large or small, may I say this, that we get together and strive to serve and strengthen the company of which we're so proud to be a part.”
The lack of the 'imminent' news about the diamonds is exactly what is causing the sp to fall. The up and down girations are making loads of money for the MMs who are very happy as long as the 'imminent' news fails to materialise.
23rd July 2023. To refresh your memories. Just around the corner!
Galileo Resources PLC (AIM:GLR) said it has moved a step closer to being able to offload a nearly 36% stake in the Glenover asset in South Africa, which is host to phosphates and rare earth metals.
hTTps://www.proactiveinvestors.co.uk/companies/news/1009823/galileo-resources-inches-closer-to-glenover-exit-zimbabwe-results-please-1009823.html