Member Info for Castaway

No idea Bestmate - not expecting too much, but that's the key to Remin - AP hasn't been discussing the BP licence for the last few years solely we have an MOU re. Remin http://www.vastresourcesplc.com/operation/romania-remin/

BP licence association is the start.

Badge I have never doubted he will get the BPPM licence - he needs it more than anyone on the planet - because he owns more of it!
Apart from that he is the most focussed entrepreneur I have ever met - stick close he will make us some serious cash AIMO of course!

I agree stringer it will take a few years, but with the average NPV of a Remin mine being around $300k you don't need many, if we get a % of Marange that would get us there pretty soon, Zagra is potentially the largest copper deposit in Europe, etc., etc.
I am not saying it will happen this year (far from it) but IF we get Remin mines and or Marange diamonds it will start and 2-5p is a possibility - that would do me in the short term. (4 years so far, so not that short!)

I agree pepco a $bn co. takes time but the current assets are undervalued in the MC of VAST - once the licence comes the rest will follow and the market will see the potential and IMO we will get a decent rerate up to a few pence hopefully this year.

Depends italione:

Diamonds could be not far off a $bn depending on historic claims and new exploration.

Remin mines - 5 have a NPV of $1.6bn (AP stated) so if we have 55 to go at?

Zim gold/multimetallic mines

Zagra

Other Rom assets - greenfield sites like Zagra and gold mines?

One of those is potentially worth an MC of a $bn in a few years - all of them - many $billions.

It's certainly possible VAST could be worth several $billions in a few years and if it is to happen it will start this year.

Pepco - interesting post.

Re. Zagra believe it will be pretty expensive to build the mine and processing plant, so we would need a JV after JORC, I am sure AP has enough data to get a big mining co. involved now and I bet many want a way into Rom and AP is the only way currently. This type of JV is usually on an "earn in" basis so an ever increasing % depending on capital spent. IMO AP will keep Zagra all the way to mining then maybe sell the remaining %it to the JV partner and use the funds to start other projects. It could all be done in a few years, and would make VAST maybe a $1bn that way. AP has stated he wants a JV before the JORC so could happen in the next few months as drilling will commence in the autumn.

2P I agree warrants will generate over £2mil before next July when they expire but that is not guaranteed and we will need funds until BPPM is profitable IMO (early next year?) - so a JV will be needed for the JORC for Zagra and if it was with a major what would that do for our little company! (not little for long IMO)

AP has loads of other projects also in Zim/Rom which will be hungry for cash and the diamond exploration with BOD in Zim will cost as well.

Re. getting cash out of Zim - it is possible now with agreement from the Reserve bank of Zimbabwe. I am not sure how much cash we actually have tough as it is being invested in Eureka at the moment - and by the time that is up and running there should be decent profits payable to VAST topco from PP and Eureka - the ZimGov should have normalised cash flows in and out of the country by then. I think AP will use it for other acquisitions though with SSGI.

I agree with Badge about the election - the opposition have always complained after Zim elections and with good reason probably, it won't last long especially if the Croc gives the MDC a bit of a say in the government (as he has said).

AP did state earlier this year he wanted to build a $1bn company in 5 years - I think the potential has grown somewhat recently, it could be several $bn if it all works out. We will know shortly and IMO it will pay to be patient.

I know the BPPM licence is highly important and it has been highly frustrating, but....another few days make no difference to the overall plan and hopefully it will be a small part of a big company going forward.

The whole point about BPPM it is worth the wait, it will be the key to unlocking the potential in Romania and Remin and VAST will acquire it at 10% of it's true value.

The other benefit is that AP has spent so much time with the minister and RomGov, he was is now acting as an adviser on a government committee re. mining in Romania.

Highly frustrating but in the end it will be worth it IMO.

millimetres

Yes I think Zagra is worth a few $bn - it will become clearer next year after initial JORC, when we get the facts in full, but my workings were total B*****x

It is impossible to work out accurately without recovery rates etc

I think we will get a JV partner before the JORC as it will cost a few bob but they will be on an earn in depending on how much they spend presumably - we could still end up with a decent percentage at production though.

Yes I think that is correct 2P - $27bn not 2.7bn - my mind can't comprehend anything that big :-0

pepco - just to be certain,the figure was from the RNS and was based on 10% of 3000mt of ore in total, but 300mt of ore within the .3-.8% copper/gold band that is the estimated mineable ore.

So 300mt/9.5 = 31.57 times larger so KAZ mine worth $900m * 31 = $2.84bn ($28,413,000,000) for just Magura Neagra

It's the history dv - based on anyone of several projects happening, soon we will be 5p+

Doubt it angus - it will be a BIG mining co - they will need the expertise - based on the published figures, Zagra is likely to be in the top ten largest mines on the planet

Drilling will be in the autumn (and presumably JORC next spring) - he mentioned the drilling in a recent interview

Pepco there was a typo 21=31 but I think the totals are correct 31*900,000,000 = $2.79bn

The value of copper is unimportant on the comparison basis the KAZ mine has similar grades but not quite as good so I just compared the value paid by KAZ, and the ore estimates

Trump cannot put tarrifs on it can he - perfect timing for the biggest copper mine in Europe to get funded :-)

Dead right Pecten it's at the heat of the world's largest market - the EU

The thing is with all these assets they have been explored by the RomGov historically and the old Russian system they used was as good, if not, better than JORC estimates - they just need converting which involves a bit of infill drilling as the original drill cores were probably lost and they are needed for a full JORC estimate - it won't cost that much and AP stated he is getting a JV on that as it is way too big for VAST right now - but I bet we get a 50% free carry on it - or close!

He says they will be drilling Zagra later this year - should add £100 mil to MC at least and every year it will add more to production unless we sell out at a huge profit.

Thanks Pecten just half of Zagra, the Magura Neagra Polymetallic Licence compares very favourably

From the RNS 22/12/16 (link below):

"Initial estimates, by the 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."

So as RNS - 300mt at a higher grade than the KAZ mine and that has only 9.5mt - based on that ours is worth 300/9.5 = 21 times more - so 31*$900mil= $2.79bn

P.S. that's for half of Zagra there is the Piciorul Zimbrului Licence area which is supposed to about the same size would double that to say $5bn - undervalued VAST? by several $100 mil right now - no one gets this except a few VAST investors.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=VAST&ArticleCode=w3ervz0v&ArticleHeadline=Expands_Romanian_Mineral_Footprint_Through_Acquisition_of_New_Licences

Pepco ANRM have "legal term" which is 30 working days for RomGov but I doubt they will take anything like that time.
I doubt the meetings every day were just about BP either - Remin more likely took up more time!

Next few days IMO - though I have been wrong many many times in the past ;-)

ORT is spot on also IMO.