Member Info for Castaway

The other positive from this letter is that we are closer to mining Marange - you don't look to debt finance something unless it is actually happening IMO

This is NOT dilution of 3.8 bn as I read it

1) 1bn for Bergen we knew about - that will never be issued as it will be voted down

2) 2bn is for collateral for a loan to do the diamonds and will only be used on default from RNS "The unissued shares used in this way would not fall to be issued except in the event of default. Shares would only be actually issued pursuant to the authority to extent that this is not achievable."

3) 800 mil for general working capital FOR A YEAR - that is reasonable.

Basically this is asking for 800 mil shs to be issued and used - the other 3 bn are for collateral!

Castaway has not cast off and is not a happy bunny - I hope AP will get Merc B by 21st Jan but this is a precarious situation - I still believe AP will get it done (or some other bridge) but if not it will seriously damage the s/p.
If he gets Merc B and the diamonds we will multibag - if not we are in for a hard year in 19'.

I have always given my honest opinion and I still believe we could multibag next year, but it has become more risky with the failure to secure Merc B on a timely basis for whatever reason.

Unfortunately due to legacy issues AP has had numerous problems to deal with and has had a steep learning curve as an AIM CEO, that and a severe bear market.

I believe AP will do his best and I have the utmost respect for him, but the way things are it is very difficult.
The way I see it, if we get Merc B by 21st Jan, AP has pulled off a masterstroke, if not we are in a bad position.

However there are many positives and I think we are way undervalued at .3p - balls of steel are required right now - AP is a gambler and we trust him or bail - I trust him, but it could go either way.

BTW - I have decided to post less for many reasons and it is not s/p related - I was all over this BB at .1p - remember that?

As you are aware I rate him very highly - lets see what unfolds over the next few months - I am very confident

Fantasy - if you had done any research you would know that SSGI have first refusal on any loans on assets in Zim - so I doubt very much they would announce that this loan was concerned with anything in Zim - DYOR

Let's see - if we get ZimGov approval - we know what the funds are for and if we do it will be 100 times worth it!

Fantasy - not to keep lights on to get diamonds - ZimGov probably wanted to see some cash in the account and without MercB we need a short term bridge

Here's why he sold on 31/10 "Sale of sufficient ordinary shares to meet tax and national insurance liabilities as a condition of the ALTIS vesting, plus sale of a further 3,000 shares."

He bought 3,645 back today

He hardly "dumped them" did he?

Call it what you like Fantasy - what I have postulated is entirely possible - instead of calling me a child maybe you could explain why it is not possible?

Your very strong on insults very weak on any research or any factual evidence.

Fantasy we have nothing officially - do you understand how share investing works? - you buy a share because you believe it will be worth more in the future, if you know all the facts then there is nothing to gain as the s/p will be = to MC

So to make money you have to speculate - something you seem to have a problem with!

look at the past production from entities that have had little experience of mining diamonds and the production they managed from areas smaller than the Heritage concession we can potentially mine - production peaked at just under 17 million carats in 2013, from several concessions but if we could produce 10% of that per annum from our concession then it is worth $140 mil per annum.

Perhaps you could give me your prediction of the s/p in 12 months?

Rob I understand your POV re. AP and the way it seems with the assets - I just wanted to give you my opinion.

Many of us have been on long journeys in shs - me and you, us all, with VAST, I have multibagged and multiunbagged.

I am like you a value investor (ok I do a bit of trading and bottom feeding for fun) but generally look at potential and judge management - I spent a year weighing up AP - I naturally mistrust people, like us all he has faults, but IMO there is no one on the planet right now in a position to exploit assets in Romania and Zimbabwe as AP can, he has it all.

Rob, If you get a chance to talk to AP at an investor event he will give you the full history of VAST from his POV (as he has to me) it is a long story! - I think you will have a different POV if you hear it.

Rob AP was not employed by VAST when he brought us BPPM - he and AP group gave us 80% for peanuts, he gave us 80% of Zagra for nothing, without AP where would we be - OK it's mutually beneficial - he didn't have the access to the cash to develop the assets, but he had the contacts and knowhow to get them.

He could have got involved with a major directly with Zagra and made millions with no hassle, but he chose to put it into VAST at a time when we were in dire need!

He got us Marange (hopefully) and that cost nothing and he got nothing out of that. IMO he has been very fair and without him we would not exist IMHO

Sorry I was incorrect in my last post - Zim is one of the largest diamond producers on the planet now and it could be much bigger as only a small part of the Kraton in Zim has been explored

Rob I am not talking next week I know we need 1p first! - I am and always have talked about potential with current assets.

If we are one of "the four" - I doubt funding will be a problem!

We will probably be the only London based/Western company able to mine, explore and JV co's for diamonds in Zim - Zim is potentially one of the largest diamond producers on the planet and is largely unexplored, this could be very good.

No Fantasy you are missing the point - BP development plan will be good but when we get mining BP and the diamonds $5-10 mil per month profit - that is not BS that is an MC of $250mil+ and that is what I am referring to.

S/P increase has always depended on events - don't belittle the potential due to your prejudice!

No Adam I don't think Merc B has anything to do with diamonds - it's about funding Carlibaba and BPPM

No reason why we could not use a few mil and pay it back though Marange could be mining in a few months

Fantasy - 2p/5p is not "BS" based on the potential of the assets it's a entirely possible.

What would you value an AIM listed mining company making say $8mil profit per month?

We don't need a backer Adam - we need a few mil to buy mining equipment - so we need a short term loan or cash from Merc B.

IMO a $3mil investment could generates several $mil a month profits, we pay off debt and expand operation from profits or further debt - if you look at payback rates on Marange fields they are weeks to a few months

Fantasy - speculating about future s/p is natural and with the assets we currently have 2p is very conservative, 5p is more like realistic (if we get Marange mining and BP running). $250 mil MC as our CEO said recently is possible within a year and he should know!