Member Info for Castaway

"Legal Term" ends on the 18th (next Tuesday) according to AP - so we may not find out until Wednesday.

However if it is delayed I am pretty sure he will issue an RNS to explain why.

MMaF - 1277 days from the date we acquired 80% of BPPM - we both know it will be worth it - good things come to those that wait ;-)

:-) Dunno MMaF T-5 and counting!

tom why does it matter - he is expressing his opinion, there is no rule about posting if you only hold shares.

First off to be clear ( some have mentioned this), ANRM have not delayed any sign off. Legal term as AP confirmed is 18 September they have until then to complete the job.

As Sandy mentioned Rom bureaucracy is very slow but they are under an obligation to deal with it in "legal term" - I still think this will happen as they do not have the power of the minister.

I do not understand AP's timescales either - I think he is just a very positive person which is great in many ways but giving timescales which never seem to be met is not a brilliant idea, even if the relevant person in Romania assured you of the date as they simply do not abide by them (or it gets lost in someone else's bureaucracy on the way!).

I am not sure what the point in calling an EGM is, the company can do nothing about deadlines they have no control over? We should get the AGM next month in any case.

So fingers crossed then!

So far........

Yes Badge IMO could be any time 7am - 6pm - there is absolutely no possibility of a leak - ANRM will inform VAST when they have approved it and they do not leak - no one in the company has any info before that.
Though it will hopefully before the 18th which we have been informed is the end of "legal term".
Not long now and ANRM is not the same as the RomGov!

Really Bladey - VAST is leaky is it? and what do you base that on?

MM bought some ;-)

If your a Scot a trip to Blackpool is like going to the Med isn't it ian - the heat of tropical Lancashire :-)

Good post - VAST is probably waiting for the ZimGov to align diamonds and platinum with other resources with gold etc. and no indigenisation - hence the RNS stating we will give "at least" 25% to the local trust if the law changes - looks like this will actually benefit all - I am really glad VAST will benefit the local community.
Looks like we could be on 75% profits by the time the DD is complete.

angus, look at the big picture, our CEO will own a serious percentage of VAST - skin in the game for all to see!

We in effect will probably be better off, as they will settle at a discount IMO

Sorry to correct my last post - it makes no difference to the value of our shs - the company is diluted but the MC increases proportionately

angus CEO's cannot sell shs in post (unless they want to destroy their own investment) - AP won't and it makes no difference to the value of the company, we get diluted but our assets increase by the same value as the dilution it is neutral - we do get 100% of profits though rather than 80%. and we know those shs will not be sold!

angus in the past I know some of the directors have deferred their salaries and sometimes even bailed the company out.

I think we have a BoD which actually are interested in moving the company on and some will only take remuneration when it is possible.This is not just for altruistic reasons, we need every penny right now to expand.

On 2P's point re. AP Group converting their assets into shares IMO they will do this soon after we finally get the BP licence - they would think it is unfair before that as in effect they won't have delivered BPPM.
We will just have to see what happens, the diamonds may get in the way (hopefully!).

Pepco - I was thinking maybe Q2 2019 at the earliest to be mining Marange - mining equipment may have a 6 month lead time.

I was just inferring the RNS states we could start after the DD period.

I suppose we may start some small operation earlier if there is suitable equipment available?

We will need mining equipment and a means of financing it - so it may take time to organise that - the BoD have known about this for a while though (obviously) so one can hope this will be in place by completion of DD.

Pepco - from the RNS "Having already agreed the principal terms of the future Joint Venture with the MZ Community Trust, we have confidence that once the Due Diligence Period is complete, subject to final results, we can move swiftly in building a valuable diamond arm of our business, which is mutually beneficial for all stakeholders"

So yes we can start mining as soon DD is completed

piscio - I agree about the MM's, obviously profits will be good, but I feel the market mistrusts the company until the licence for BPPM is acquired.

IMO that will be a watershed moment if we can get the licence they will believe we will get everything else.

There is also the Marange diamond field concession which is probably huge, 17 mil carats per annum were extracted from our original claim at its peak and there is no reason why our current claim could not be as large.

Only another 6 weeks or so of duedil to go and we can start on it.

Well all this is conjecture we will have to wait and see what happens