Member Info for Castaway

2P I am sure AP will get the PR sorted, depends how the market views it?

Dodge I think we will get JV's on certain projects which may lead to a buyout of those, (Zagra?) but I believe AP wants VAST as a conduit to acquire develop and then possibly sell on assets as they mature - he has a 5 year plan :-)

I agree with you guys the warrants will come into play if we get much over a penny and they will provide about £2.5mil.

In a years time it could be completely different we should have strong revenues from BP and Manaila in Rom and Marange PP/Eureka in Zim, which puts us in a strong position to acquire debt funding for future acquisitions.

I just find it amusing that there is so much fear about BPPM licence delay after what the LTH have had to endure over the last few years - losing the nomad was bad, 450% dilution from death spirals of Crede/Bracknor was bad but the delays in the BP licence are just that, a delay - we are not about to be delisted, taken private or go bust - let's be patient and relax a little.

We are after all getting a mine with a conservative NPV of $100 mil for $6/7 mil - that's a good thing!

Marange will need investment for sure, but they have 90 mil headroom so we will have to wait and see how AP tackles it - debt funding probably?

The payback times on the Marange fields will be quick though IMO, so maybe we could start on a small scale and increase the size of the operation as revenues allow. If it is as big a field as our original claim, there will not be a problem financing it.

I agree angus - we will need some cash going forward but if we get BP and Marange and possibly a JV on Zagra as you say it will be at much higher than the current s/p.

They will ask for more headroom at the AGM next month definitely - I am sure we will be in a better position then.

angus we have been in this position for the last 2 winters at Manaila - it probably will be the same this year - has it caused major problems?

The RNS has stated when the DD period is over we can mine the claim, there is no bureaucracy at Marange.

They have 90 mil share headroom if the worst happens - so they will have to place - not sure what you expect - you seem to want all the potential and none of the risk AIM is highly risky!

If VAST's assets were de risked the s/p would be 5p+, you cannot have it both ways!

This is not as important as it used to be and whether we get it on Monday or a week on Monday will make no difference.

It is important as it will prove to some VAST can do business in Romanian - even though we have Manaila running licences for Zagra and the BPPM tailings, Blueberry, Remin etc.

It will affect the s/p cos the market has pinned VAST's reputation on it, but longer term it makes no difference when we get it - it will be soon though IMO.

jeffa - I agree with being realistic, however in reality, right now, day to day copper prices mean nothing to VAST.
When we are mining Zagra they will and it does affect sentiment to miners I agree .
However look at the articles re M&A - all the majors have underexplored during the slump and are now hungry for huge mines - I think we can help them out ;-)

angus - what's all the doom and gloom?

Manaila will always have bad winters, BPPM will be mining by Feb, we could be mining diamonds in Zim, we could have a JV with a major on Zagra - look what it did to Orosur nearly 10 bagged.

We have world class assets! Talk about half empty!

Yes ORT - if we had separate entities for each part IMO this would be the result:
BP £10 mil
PP/Eureka £30 mil
Marange £30 mil
Zagra £15 mil
Bluebery £3mil
Manaila £ 20 mil
other bits - Nkombew hill etc. £3 mil

Total around £110 mil or 2p now - without mining BP or Marange - when they arrive that should add £30 mil for BP and maybe £200 mil for Marange - then we should be at an MC of £300 mil+ or 6p+
Eureka on line should add £30 mil
Bring on a JV with Zagra and JORC that should start by adding £100 mil going up to a possible £500 mil + depending on JORC JV%
Total MC in a couple of years £500 mil or 8-10p
Possible not certain by any means, could be higher ;-)

All we care about is longer term jeffa - Zagra won't be being mined for a few years - copper is on the up in general over the coming decades, no matter what the current incumbent in the white house says.
BPPM is multimetallic (1,800,000 tonne copper-silver-zinc-lead- gold-tungsten-molybdenum ore body at 6% copper equivalent).

Manaila - Open Pit: (Indicated & Inferred) of 4.6Mt at a grade of 0.97% copper (‘Cu’), 0.32% lead (‘Pb’), 0.68% zinc (‘Zn’), 25.8g/t silver (‘Ag’) and 0.23g/t gold (‘Au’) at a 0.25% Cu cut-off.

Loads more ore at both when fully explored IMO.

Zagra is the daddy though and not all copper - this is half of it "Magura Neagra" "Romanian exploration teams, related to the porphyry style mineralisation have indicated an exploration target of up to 3,000Mt of ore to a depth of 600m, at grades ranging from 0.4% copper ("Cu") and 0.3g/t gold ("Au") up to 0.8% Cu and 0.5g/t Au. The Romanian exploration team surmised that at a 10% conversion ratio from exploration target to a mineral reserve, the reserves may total 300Mt of ore and place it above the current operations of Cuprumin at Rosia Poieni."

The other half "Piciorul Zimbrului" is potentially as big.

BP or no BP VAST is hugely undervalued!

They can still look like sells and be buys and vice versa but it won't be a PI on VAST it will be an MM/Broker etc. - you never really know and bear in mind a "trade" is always a buy and sell.

Hi Boz You can place an order on DMA on VAST but it doesn't work - it has to be a sets share with an order book like PANR - then it's great you can play MM's games (sort of).

The big buys and sells are some actually buys sells and some rollovers and closing then reopening T20's

http://www.namr.ro/wp-content/uploads/2014/03/MLaw_85.pdf explains it in English there is other info on the ANRM website: http://www.namr.ro/legislation/romanian-legislation/mining-domain/

ESM licence is the same type as Zagra nothing like BPPM which is an association of an existing licence - there is no comparison between ESM and BPPM.

There are no recent comparisons to the BPPM association licence it is unique.

The extra power line will not be started until we get the licence association so no!

I concur, ANRM is the process to establish if AFCR Romania is technically and legally able to be granted the association with the licence held by Baita SA - the RomGov have signed it off legally and we know ANRM have granted us several licences - so whilst they may take their time I am highly confident we will be granted the licence shortly.

piscio - the situation with gabriel resources and VAST are totally different - there is no way that giving VAST the BPPM association licence would have any bearing on Rosia Montana or set any precedent.

The minister has already agree to the licence association if there was a problem he would not have!

Sardy/B just putting things into perspective - we are getting upset about a deadline which if exceeded makes no difference in reality.

OK us, the market and in some ways AP has built BPPM licence into a company maker (or not) but VAST is totally different than 2015 when we acquired the mine, when it was a huge deal.

BPPM is now a smaller part of VAST and in few years time (if it all goes to plan), at full production it will account for the value of a few % of the company.

Right now the BPPM licence has a huge effect on our s/p and will do for the near term, but the licence is not a company maker or destroyer it will give all and sundry belief that AP can deliver- I am 100% positive we will get the licence and soon, whether it is in ANRM's legal term remains to be seen.

It has been 1278 days since we acquired 80% of the mine - say it costs $6 mil and the value of the mine and infrastructure is $60 mil NPV $100 mil (conservative).

Look at it this way- we have saved/earnt $53 mil*.8/1278 = $33,176 every day!

This mine would be a bargain if we had to wait 10 years

patien - I think you are being unfair on Andrew - he has explained the process in pretty full detail - the ANRM stage is the final sign off - they are not late in processing the joint application at this point.