Member Info for Castaway

I don't think they are issuing licences for diamonds - they are auctioning off some mines from ZMDC: https://www.zimlive.com/2018/11/zimbabwe-set-to-announce-winning-bidders-for-zmdc-mines/

They are shortly due to announce the new diamond policy which may affect the indigenisation % etc.

I don't really think we can trust any figures regarding production at the mines. From various accounts diamonds went missing and I should think they would not have been put ito the production figures or it would be obvious.

I used a high number of CPHT (20 CPT to be precise) as an example as I presumed VAST will mine the areas containing the highest density of diamonds first to get the investment back ASAP especially if a small plant is used.

Over the whole concession the grades will most likely be much lower, we will find out in the next few months hopefully.

Mullaney it won't cost much for a pilot plant doing 20 tph to start with Marange - you start small and use revenues to acquire debt funding.

Sure and if we got a 250 TPH plant running 24 hours 20*250*24*$85*7 = $71,400,000 per week :-)

In the real world this is ridiculous - grades will be lower, there will be problems etc. I was just pointing out that a pilot plant running a few hours a day could make some serious revenue.

On "bulk sampling" - some of the areas (actually complete mining concessions) at marange produce on average over 20 carats per tonne.

I am sure we will target the richest areas first.

We can bulk sample at 20 tonnes per hour with a small and low cost processing plant, so on an average valuation of $85 per carat over an 8 hour day that's 20*20*$85 = $272,000 in revenue per day. Well over a $million per week!

OK the areas we have will probably be less rich in stones, but AP has assembled a great team in Zim with all the people who know how to extract the diamonds and have done it for years. We also have James Campbell on board via BOD who is an expert on alluvial and conglomerate extraction and processing - IMO we can do better than any other entity has done before and we have the backing of the local community who will receive 25% of the profits.

It will be spelt out when it's ready - the problem is that we will take time, those who DYOR see it earlier i.e. we will be "bulk sampling" - actual translation "small scale mining"

Some want it in capital letters, on a plate carved in rock!

Sure, but bear in mind a VAST share will cost you 3p by then possibly!

This is all starting to look very good for VAST - come on market - get with it!

Morningsun - if you look at the size of the complete Marange field, I would say less than 10% has been exploited (and very little has been explored due to the nature of the alluvial nature which is random) of that 10% only the alluvial diamonds have been removed - there are still the conglomerates which have to be processed to extract the dtones - alluvials are just dug up and sieved out.

IMO there is at least 95% of the Marange diamonds still in place and there are probably several Marange sized fields in Zimbabwe to be discovered - hence BOD/VAST database cooperation.

So far around 50 million carats (official - many mor in probability) have been mined

I will not speculate on the possibilities for VAST in Zim but if you research it you can imagine!

https://bulawayo24.com/index-id-news-sc-national-byo-149262.html

Thanks Jayfella - same article with authors name on a different sit

This could be one reason why we may get another diamond concession or two - The Croc is getting fed up with inefficient and corrupt state companies and handin the assets out to private companies.

https://zoomzimbabwe.com/2018/10/18/mines-ministry-diamonds-firm-splash-on-luxury-vehicles/

"Zimbabwe Consolidated Diamond Company (ZCDC) after its directors’ decision to purchase several top of the range luxury vehicles for themselves worth more than $2 million despite a clear directive by President Emmerson Mnangagwa for government and all parastatals to cut on spending."

https://bulawayo24.com/index-id-news-sc-national-byo-149176.html

Meanwhile, the Zimbabwe Consolidated Diamond Company (ZCDC) has extracted 2,4 million carats (almost 0,5 tonne) in the first 10 months to October — and ploughed over $7 million back into the community.

VAST can do better IMO - we could do a tonne next year ;-)

I agree jeffa, no one likes a placing - we need some progress on the diamonds BP Zagra etc. AP is in Zim and it is a one man show VAST and AP is killing himself to get all the things we need sorted - I just wanted to clarify VAST is not short of cash right now

All AIM co's have similar overheads - it costs to be on AIM

$2mil overhead is $166k per month not $500k

jeffa but that wasn't cash burn - if you look at the accounts we made a gross profit of $7.2 mil overheads were $5.2 mil - there were large loan write offs $12 mil for PP and a tax charge of $3.7mil - total loss $16.9 mil - but that was paper loss the loan to PP was from 10 years ago!

To sum up there was not a "cash burn of $500k per month" either

Jeffa - I don't think VAST are "burning" £500k a month it's being used to invest in assets BP diamonds etc.

Can you explain how you justify the "burning £500k a month" statement? - I cannot see where it says anything like that in this letter.

http://www.vastresourcesplc.com/wp-content/uploads/2018/09/Chairmans-letter-28.09.18.pdf

Jeffa we got a £million last week - what short term cash flow do you refer to?

Morning all, NH

Good luck to you also DG1, I hope it works out for you!

pretty good volume too 135 mil - I hope we start to get an improvement in the s/p tomorrow.