Member Info for Castaway

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

Gives an idea supergar - BP/Marange diamonds/new projects -

To be totally correct it is 6% copper grade equivalent - or 10g/tonne gold - but it is a polymetallic and a very rich mine with loads more pipes to go at

Tranche B from Mercuria is for the plant at Manaila tranche A is covered by the production from Manaila. Mercuria cannot convert any warrants unless we fail to meet the payments which we are doing. Mercuria will not stand in the way of VAST - why would they?

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VAST/13823716.html

:-)

Thing is the loss was caused by a one off write off of PP loan - another problem with VAST - it's complicated ;-)

Bine spus

angus - as far as I am aware the concession VAST is currently doing DD on is a brand new site that has never been mined by anyone other than artisanals - I think they know what is there from the past surveys they have between them, (us and BOD), because as you say it would be difficult to survey an area that large in 2 months - they are probably waiting for a change in the indigenisation law before signing the agreement to ensure the SPV is entitled to 75% of the revenues

AP is insignificant. should be BP not AP, as he is a bit significant :-)

Dodge glad things are improving.

I cannot see why we will not get BP licence association - it has been approved at the highest level and IMO will come soon.

However if it doesn't come soon there is are plenty of assets which should come good - the market is far too focussed on BP - we cannot get away from it but that is a fact.

If we don't get BP soon it will be a drawback but if we start to mine Marange which is clearly not included in our MC then AP is insignificant.

What would you price an MC on a company with a 50% holding in a Marange 1 alluvial mine (which produced maybe $2mil of diamonds) - IMO a damn site more than £30 mil - current MC

Honestly it's not that bad S/P still way too low ;-)

As I understand it the mining law does not need to change for us to progress the licence which from memory is about a 3 year process and we have a couple to go - this is the prospecting licence that we have to drill in the next 3 months.
Next year we have to progress it further.
I cannot understand why you are maning ip problems which probably do not exist - this is not BPPM licence it is a normal one just like EuroSun who are still working away to get to the mining stage - why would they if they thought they couldn't mine it?
Your making problems up that do not exist at this point - anything could happen - nuclear war with Russia - will it? unlikely!

Pepco - do you not think this will have been considered - honestly you are pulling apart something that is in the very early stages and that you know nothing about - what about the licence area that EuroSun are working towards and have spent stupid amounts of money on? is that going into care and maintenance? - it will be years before we start mining the law will have changed by then (probably)
Do you really think AP would have acquired the licences if he could not mine them?

I can't see any housing and Dracula's castle is nowhere to be seen ;-) just lots of trees.

I did look when it got announced and saved this map.

As I understand it the licence areas are the mountains to the NE and land to the NNE of Zagra basically in a line on the map east of Fiad in the north and Parva in the south - you have to say its not a populace area

https://www.google.com/maps/place/Zagra+427385,+Romania/@47.4994455,24.3780918,5316m/data=!3m1!1e3!4m5!3m4!1s0x4749e0dfdcce69a5:0x11040354040f02b1!8m2!3d47.326025!4d24.2758369

FTB I looked at Zagra on google earth - most of it is a big mountain covered in trees and there is very little housing or agriculture - I don't think land will be a problem

Sorry Badge I misread your post - your talking about Red Mercury and the current heritage concession - presumably we got it as we are acceptable to the ZimGov and have access to the capital/expertise to develop it.

I did ask AP if this was a form of compensation for our previous claims but he said it wasn't and presumably compensation for the original licence areas is still being pursued

Badge, if you watch the section from 26 minutes in you will understand they didn't give anything away - they applied and were not successful in acquiring a concession as it was never signed of by Mugabe!

We have been successful!

The thing is he had no axe to grind - BOD didn't have a concession at the time and he states he didn't expect to get one, so I think he is being honest.

One throw away line was interesting bearing in mind BOD could have got just 25% share of a concession! "if this comes just start buying the shares, simple as that"

This old presentation is now more relevant with the JV announcement: https://www.youtube.com/watch?time_continue=1814&v=wstSdwsRyDA

John Teeling from March 2012 - the section regarding Marange is from 26 minutes in and is well worth a watch.

Some of his comments from the presentation:

There are 15 diamond concessions and 4 had been awarded at the time - he said those 4 concessions will produce more diamonds than Botswana which was/is? the largest producer of diamonds and Russia

Grades between 1500 and 8000 Carats per 100 tonne

Payback period on capital - 3 weeks (he mentioned $10 mil input being paid back "easily in 3 weeks")

He does mention the fact the diamonds won't last forever but it does give an idea of the potential of the current JV with VAST.

I found this a couple of years ago and it now seems more relevant: https://www.youtube.com/watch?time_continue=1814&v=wstSdwsRyDA

It's a presentation from John Teeling the Chairman of Botswana Diamonds from March 2012 - the part pertaining to Marange is from 26 minutes in and it is very interesting and well worth a few minutes of any VAST shareholders time.

Some of his comments re Marange from 2012:

There are 15 concessions and 4 had been awarded at the time - those 4 concession will produce more diamonds than Botswana which was the largest producer of diamonds and Russia

Grades between 1500 and 8000 Carats per 100 tonne

Payback period on capital - 3 weeks (he mentioned $10 mil input being paid back "easily in 3 weeks")

He does mention the political downside (well we know that!) and the fact the diamonds won't last forever but it does give an idea of the potential of our current claim.

This is one reason why I am positive right now!

I would add Zagra has to be drilled this year for the licence process, so it will be.

Put succinctly FTB - couldn't agree more.