Member Info for Castaway

The problem is the potential of a placing lets have the facts as of today:

1. we currently have 90 mil share headroom
2. at the AGM next Monday the BoD are asking for 850 mil headroom for the whole of the year from that date.
3, The Mercuria deal tranche B is now available after the signing of the BP licence (up to $5.5 mil)

We need cash to get BP going and start the diamond mining - we know AP is reluctant to place and will use the cash wisely - We may not need any for say a couple of months depending on what is required at BP and Marange. IMO we won't get a placing for a while as we will be getting tranche B soon - that is providing the $650k is available to pay Baita SA on wednesday which I assume it is or we would have used the 90 mil headroom to raise it and IMO there is not enough time now for a placing.

I think we are safe there timbo ;-)

Resolution 11 is for II's to be able to take shs at the right time - it gets my vote, as ian says they will be "sticky hands", and good for the reputation of the business.

I agree with you B, it's just a process, you can see why some don't though.

we went up from .3 to .7 a year ago that was on the news that we were close to getting the licence - delays are not good and sentiment is still obviously low.

We should seriously take off soon though with all the current prospects IMO

B, so was ANRM ;-)

schmoops - I am not an accountant (though I have worked in an allied profession) but I would think cash in escrow would have to be reported in the accounts as an asset? The accounts in any case were to 31/3/18 so don't show current position.

As I read it the Chairman's letter states the $650k to be in addition to the sum originally held in escrow for the main payment to Baita SA and if you read the letter it is mainly regarding where the future of the company lies and where future placing funding will be used.
http://www.vastresourcesplc.com/wp-content/uploads/2018/09/Chairmans-letter-28.09.18.pdf

I agree ORT - VAST is in the strongest position ever

ORT - I think the reason there has been a sell off is partly due to the traders selling on news but more likely the fact they need $650k before Wednesday to pay Baita SA.(see Chairman's statement)

From the Y/E accounts they stated they had "Cash balance at 25 September 2018 of US$0.632 million in the Group"

So you get the idea!

Anyway if no placing by Monday and I think we can assume they picked up the cash from elsewhere (short term loan?) as it would be getting too tight to place and raise the cash before Wednesday after Monday IMO.

A placing is certainly looking less likely now.

Sandy I was trying to explain the position I am in - you are accusing me of something I cannot disprove - I could accuse you of the same thing and you would be in the same situation.

I am just saying - no nerve hit ;-)

Well it depends what you call modest I have less than many posters on the BB probably and more than others.

Anyway you called me out and I tried to explain my position - if you choose to disagree that is up to you, but you have no clue what I actually have or do and that works both ways so to start accusing me of manipulating VAST's s/p is ridiculous - it could equally be you couldn't it?

isas - I think AP knows what he is doing - he will want to secure it ASAP

The thing is Krazy the majority of shareholders do not post on or even read this BB and some of them will trade VAST - I find it amusing that people seem think we are the entirety of VAST shareholders.

I have a fairly modest holding which has remained about the same for 4 years and am not as angus put it a "day trader" and never have been - I do occasionally have a punt but it is occasionally, I now tend to trade leveraged products like CFD's rather than actual shares, but over months not days.

I know some here go on about a 3 mil trader - well that is certainly not me, to be honest I don't think it's anyone in particular, it's just the market, which is actually regulated BTW.

Obviously disappointing - I didn't expect a massive rise, but a bit more than we got from yesterday's news, probably down to market conditions right now - I feel much better though at least we know finances will be sorted for Manaila etc.

I have always thought the s/p will build as we head towards production and obviously when we start the diamonds it should boost it massively.

On another point it is unsurprising and human nature but if things don't go as well as you hoped you look for a scapegoat - today that would appear to be me and Lee.

I have always held a decent amount of VAST shares (for 4 years in any case) from .6 to 2.25 to .1p

I do not know why some think Lee and I are arch traders but I do know that I do not hold anywhere near enough shs to influence the s/p of a £30 mil MC co. with 5,5 bn shs in issue.

If it makes you guys happy to blame someone - feel free :-)

OK, $2 billion is possibly way too optimistic but our market cap is just over £30 mil.

However you start earning serious revenues in Zim and every diamond concession owner will be queing up to get VAST to mine theirs.

Moving on there are the abandoned gold and polymetallic mines that need financing in a country starved of investment - you have to say Zim is risky but the rewards are off the scale!

I agree Todd - since we started to acquire BPPM in Dec 2014 the company has evolved - BP is not such a big deal now but the market was judging our CEO on it. The licence opens up everything Mercuria tranche B can be taken and we are pretty well assured of a profitable company in the near future.

The revenues from BP/Manaila will also allow debt funding of future projects.

For me the diamonds are the game changer now, we should not underestimate the size of our new concession and it's potential, which could be as large as our original licence area, which produced around 50 million carats according to Wikipedia, though I doubt many know the true amount produced as many went "missing" .

50mil carats at an average of $85 per carat (going rate for Marange diamonds) is $4.25 bn - OK we have a JV so maybe 50% to VAST - only $2bn ish?

DG. I never doubted we would get it eventually .... well to be honest I was getting a tad concerned, I could see no reason why ANRM would not approve it, but they sure took their time!. AP did the business though, I have faith he will build a mid tier miner out of VAST and make us all a lot better off.

scmoops apparently the Russian resource system was very robust they not only sampled and drilled but actually dug mine tunnels to test the resource at depth (as in Zagra) - BPPM is not fully explored from memory there are 7 pipes and only 3 have been mined and not to anywhere near their full depth, from memory (again) the gold concentration increases substantially the deeper you go - I am trying to find the geological data on BPPM if anyone has it maybe they could post it - I think smasher may have posted it but cannot remember exactly?

The RNS is here under the heading "RNS" on the exchange site: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VAST/13823716.html

It was just as much an RNS as the PME's and they are shown

I think you need to change your "sauce"

Please vote in favour of all resolutions at the AGM - we need the headroom to do the diamonds and other great projects - no reason why 5p should not be on next year if the projects go to plan - they need funding and it is better for us if we fund them than give half of them away for peanuts and regret it in a couple of years - we paid the dues - we deserve the rewards.

Nearly ian - next big news diamonds - then we should be!

2p by Xmas - I may be right this year ;-)