Member Info for Castaway

Just LSE throwing a wobbler - it seems to do it from time to time

I think that is correct Pecten and not just an II if anyone holds over 3% they have a duty to inform the company

This concession we are working on is large and very close to the others that produced up to 16.9 million carats per annum at the peak of production 13% of the world supply in 2013

The then (2010) CEO's view of Marange: https://gregvalerio.com/diamonds/blood-diamonds/interview-with-andrew-cranswick-ceo-of-africa-consolidated-resources-on-acrs-concession-for-diamonds-in-zimbabwe/

For any doubting that our diamonds exist here is a Zim High Court document from 2013 stating there are 129,031.87 carats being held at the Reserve Bank of Zimbabwe.

This should not be read in isolation, this case went on for many years and is outlined in VAST/ACR RNS on website.

Basically Mugabe et al wanted Marange when they realised how big it was and all the hoods loaded up, beat up and killed people in the area and stole our licences. This was done by using the ZimGov, but we fought it in the courts and won every case until Mugabe et al parachuted in a judge who had no real jurisdiction on the case and he said we got the licences illegally as we did not have the companies we acquired the licences into, registered at the time (or to that effect). Trumped up charges!

So those who doubt the diamonds are still in the safe think again - they are evidence in the highest court in Zim and if they "went missing" there would be questions asked!

Plus the fact in the scheme of things it's peanuts and not worth the political/criminal risk to nick them IMO

Link: https://www.jsc.org.zw/jscbackend/upload/Judgements/High%20Court/Harare/2013/HH%20145-13.pdf

TBT - I would have thought that the fact AP infers we are pursuing historic claims means the ZimGov are happy with it.
As you said we would not want to upset them and that is why we have not done much since 2010 but RP always said we would go after them when the time is right - Anjin just got their clams back (more or less) they were in the same position as us (more or less).

I asked RP a while ago why we did not get the diamonds out of the safe and he said they are to be used in a future legal case and if we take them we cannot pursue the case - make of that what you will but I think we have a reasonable chance of getting something back from our original claim after discussing this with both RP and AP over the past 3 years.

schmoops that's interesting so diamonds in the safe is 129,000 carats the average price is around $85 per carat for Marange stones so around $11 mil? - not to be sniffed at!

superger I have never seen a sum for compensation mentioned - the original case was to repatriate the licences Mugabe stole - I presume as the claims are now bereft of most of the diamonds compensation would be the course pursued.

Taken at the full value for the diamonds extracted you would be talking at least a $billion, but I doubt if we won we would get anywhere near that. Even a few $mil would be nice right now wouldn't it?

I believe the diamonds in the safe are worth anything between $5 and $17 mil depending on the source but definitely worth getting our paws on.

There may also be plant that was taken as well, we did start mining the claims around 2006

Historic Marange claims - The way I see it, why pursue it (mention it) if it's a lost cause?

TBT I agree it is likely we should get a resolution to the historic claims that AP alluded to in the podcast today. However I believe the diamonds actually are in a safe in Harare - RP and AP have mentioned them. I did some research on this a few years ago and the diamonds are evidence in the case we brought against the ZimGov so it is unlikely Mugabe got his hands on them for that reason i.e. they may have to be produced as evidence.

I do not agree that just because the RomGov have no money we will not get compensated - we very well could, it will be a judicial decision and it may take a while to be paid if we won, but I am sure even the ZimGov have a few $million tucked away somewhere.

The initial licence areas could well be returned to us as well - OK much depleted but still of value.

No Mcfirth definitely not!

For those who are new or those who think our mine is uneconomic - IRR of 563% looks pretty "economic" to me!

Please read this:

http://www.vastresourcesplc.com/wp-content/uploads/2015/02/Romania-presentation-Baita-Plai-and-Remin-05.05.15.pdf

isas - I know ;-)

Just politely informing him of the facts

matlock - the mines in Romania were mothballed due to lack of investment after joining the EU not because there are inherently uneconomic - they are some of the richest mines in the world.

I am sure we will be there many times over the next year or so angus

Welcome back Balli

Well done AP - note, early not delayed on something he actually has control of!

From the Chairman's letter: "This debt, which was always in our capital
budget, represents costs incurred by Baita SA on the Baita Plai perimeter prior to our acquisition together
with some other debt incurred since. The total sum that becomes due immediately on the grant of the
licence is approximately $650,000.".

So this debt was due immediately on signing

From last Wednesdays RNS: "Embedded in the ANRM approval is the pre-agreed commercial contract with Baita SA the holder of the head licence which AFCR is now free to sign and which must be signed within five working days" - so 5 days from Wednesday is this Wednesday.

The licence gets signed off on Wednesday and Baita SA are paid.

Not the time to sell IMO

24.2 mil buy just showed up - that's why