Member Info for Castaway

Yes Krazy, AP played blinder on that deal, he does on them all IMO

looks like a typo/autocorrect for Shrewd

2P the history of Baita Plai is long and complex - from what I understand AP group acquired it before AP was employed by VAST - VAST took over 80% for little capital compared with it's NPV, IMO it is fair we pay the dewatering etc., when the licence finally arrives we benefit the most.

If you look at the assets AP brings to VAST, (i.e. everything bar PP/Giant) we are getting a very good deal IMO.

Let's face it he could have gone out and got a major to JV Zagra and he would have made much more than letting VAST have it. At the time we got Zagra (during suspension due to nomad resigning) it helped save our bacon.

Glad your happy ian (though impecunious), hopefully we will all be a bit better off via VAST soon.

I am told money does not bring happiness, but would really like to find that out for myself ;-)

Like you I thought AP group owned a bit of manaila but the VAST website say we own 100% http://www.vastresourcesplc.com/operation/manaila-polymetallic-mine/

AP group (Andrew is the major shareholder with 50% from memory) hold 20% of BPPM - I cannot see anything re. Manaila being partly owned by AP group it states VAST own 100% and I think he has 15% of the Zagra licences.

He did mention recently that when the time is right he will convert these assets into VAST shares with the BoD and shareholder approval.

I would welcome this as it totally aligns Andrew's interests with ours and we get 100% of the revenues/profit.

As Mustang mentioned, AP did say in a recent podcast they had been in a closed period all year due to the numerous projects introduced.

From the VAST website AP has 18.5 mil VAST shs currently.

Well done in SOLG DG1 - that was exceptional - no reason why VAST cannot do the same.

Yes a roll

Well DG I am certainly not wavering - I have been critical of previous management decisions and always give my honest opinion good or bad.

I am at heart cynical and mistrust until I know better.

I am however a (realistic) risk taker and I have over the past few years got to know our CEO and he is IMO at the most productive time in his career, (well entrepreneurship) to make him/me/us serious money - note the him bit - that's important!

I have met Andrew several times and I like him - from my discussions with him I believe he cares about his shareholders and that is noble, but the bottom line is, he is aligned with us and we are mutually beneficial if he wins we will and he will win BIG IMO!

Me too - it's certainly possible

Far from it WH I am the most positive about VAST ever due to the opportunities we now have.

The PP thing is a legacy issue which IMO was mishandled by the previous management. I would rather get out and plough the money into pastures new and there seem to be plenty in Zim right now.

The futures very bright IMO - sorry if I gave the wrong impression and I appreciate your kind words.

I agree Pepco - better to get cash now for much bigger ventures than hang around in PP/Giant/Eureka where we have little control and may not see revenues to VAST for years.

If we got say $10-15 mil for our share we could make much more from that than we will hanging around in PP.
$15 mil would go a long way to setting up the diamond mining on our new Marange concession.

If it is similar to the original concession then it is a licence to print money 17 million carats at its peak and that was downplayed - our concession is potentially larger.

No 2P we in effect pay to have control of operations as we do not have a controlling interest (or rather get less profits) but we only hold 23% ish, so in effect we don't have control.
It is not like Blueberry where we will provide management and expertise - PP is run by the very good Zim team via Canape.
I have been unhappy about it since SSGI got involved and took 50% for $4mil FFS!

Yes that's how I see it Giant will be next for capital injection and no revenues again for VAST and right now we need cash.

If we get the diamonds it will make no difference - however if we got a buyer for our share and that was put into further projects in Zim, (or the diamonds after the DD) we could benefit immensely.

I share your sentiment dsmith but it's not (just) the last 2 RNS that dented confidence it's all of them - this was at 50% over IPO price and since the start there have been delays failures to workover existing wells failure of the partner to come up with drilling costs delay in drill date by a year and now failure of the drill for the reason the company was set up, to go for the Djeno sands and potentially 5000 bopd.
They are at the last chance saloon - when the rig is re-sited there better not be any problems or they will find it very difficult to raise more funds if this goes wrong.
Let's hope they get something right!

The holders of Eureka are the same as PP - so we are all putting in cash to build Eureka and we will all reap the rewards proportionately.

Personally I would like VAST to get out of the PP/Eureka setup, I think as a minor shareholder we do not have the sort of control we should. Surely we should have seen some revenues from our massive investment in PP over 10 years and whilst it is difficult to get funds out of Zim we seem not to be getting any benefit and never have.

SSGI and the other investors may just keep investing in further assets and we may never see any rewards.

Right now we could do with some cash, I wonder if anyone wants our share and what it may be worth?

OK (just for the LTH and cos I am sad) by my computation we are proportionately 11/1273 or 0.8641% away from the licence based on the total number of days from acquiring BPPM to the 18th September (1273) divided into the remaining days (11).

If it is signed off by the 18th we have less than 1% of the time we have been waiting for it left and of course it could be less - not long now then!

I thought it would be a pint of heavy or maybe an Irn-Bru ian ;-0

Not if we get the diamonds angus it will mean effall in that case.

The reason the RomGov took an age was that they kept "renegotiating" the deal between Baita SA and VAST.

ANRM have a simple task - to approve the association.

It is obvious VAST would not sue the entire government but they will sue ANRM if there is a delay.

I doubt there will be a delay however due to the fact the minister is backing the association (having signed it off), but who knows?.

pepco, there is a major difference between ANRM and the RomGov.
We will have to see but I doubt they will take longer than "legal term"