Member Info for Castaway

Well the timing was dreadful but if you're prepared to hold a little longer I feel you will be rewarded - what's done is done.

I think you could be on the right track with Remin Sandy, AP has spent a lot of time in the ministers office as he stated - I wonder if they had a chat about Remin at the same time?

MS, IMO the BoD/nomad agreed to do this for financial prudence. They probably didn't take account of the low s/p and it is clear AP was as unhappy about the timing as us. Andrew made it clear the licence association was very much on and expected is soon - let us see what happens. At least we have a CEO who doesn't blame the shareholders for any s/p drop - thats progress!

Just worked it out Pecten as an average of 55 kg per month over the last 12 months though it is rising it was 65 kg per month the last quarter

Pecten it was just an off the cuff comment a rough idea for those who did not know VAST - that's a rough idea

AIM investing is never easy ...never ever...

Mercman - we have been told Manaila will have a good Q2 (due to presstrip of overburden over the winter) and PP is doing record production as well and just about to hit the rich sulfides. We probably won't get the Q2 figures until end of July. The cash required is for the costs due to delay of BPPM licence association and the need for better dumpers and diggers at Manaila, together with the cost of DD on future potential acquisitions �1.65 mil is peanuts if we get the BPPM licence soon.

IMO the BoD/nomad feel that for prudent financial reasons they need to have some headroom if necessary (it is their responsibility as directors/nomad to ensure a company has enough working capital) - we have Mercuria part 2 in July but that is mainly for Carlibaba processing so I think the BoD wanted to be safe and have shs to issue if required. There is obviously a need for new equipment at Manaila and this should pay for itself soon with a 50% increase in production. I think AP probably feels he needs to justify a potential placing as he has stated in the past that there will be no placings unless it is for acquisitions or advancement of the company. From what he said they are doing lots of DueDil and this should lead to future acquisitions - I got the impression he was not happy about the timing of the RNS either. Based on the fact AP said placing will be at a premium to current s/p (if indeed they do place) I give this share a strong buy rating right now - shame I have no funds ;-)

AP - "we won't be placing at this level most definitely"

Fantasy - He mentioned the diggers and dumpers in a previous podcast ages ago, I think the current ones use loads of diesel and are inefficient I think he can make Manaila very profitable now with this new equipment even before the plant build at Carlibaba (50% production increase is massive) - you have to speculate to accumulate though I wish it had not been announced right now - but hey ho ...que sera sera

Fantasy - the Mercuria deal was to fund Manaila processing plant and repay SSGI - based on an offtake from Manaila - BPPM is nothing to do with that and was never to be funded by Mercuria

Jam tomorrow is why we invest jeffa - it will be a small placing if voted through - I am really pi**ed off about the timing of this RNS - great for LTH who support VAST (NOT!) the damage is done now and I hope we get the BPPM licence very soon to mitigate the losses we have all suffered over the last few months. I still cannot believe the BoD agreed to do this RNS right now!

No cash NH and all these cheap shares

I think it will be much higher FAHP - just a great buy in for those who have some cash (unlike me)

Morning NH - not a good one though!

This RNS could not be at a worse time - OK it does not state they will actually place more than for �1.65 mil which is peanuts, but the effect of the announcement at a relatively low s/p is a disaster for LTH who have stuck by the company. I am still highly confident VAST will multibag soon but this sort of announcement does not inspire confidence that the BoD understand the needs of its shareholders.

prem - obviously it is everybody's choice but I personally do not believe now is a time to sell VAST shares. Those who have chosen to sell (mostly) have and we are due plenty of positive news soon, so good luck!

Herbie - you hit the nail on the head. Getting good assets is never easy, if it was then someone else would have acquired them. We know in romania that things are delayed but all the comments from the company indicate there is no problem apart from the timescale extension. There is also a possibility they could be discussing other assets apart from BPPM, the law in Rom is due to change this year (probably) and AP said he wanted to have an advantage over the competition by acquiring some Remin mines first. We apparently still have an MOU with the RomGov regarding the Remin assets and if we are to do anything with them it will be before the mining law changes IMO.

Thirded ;-)

Re. Zagra - there is a timetable I believe, certain prospecting has to be completed within a required timeframe laid out . I think from memory it includes work every year for around 3 years - yes that looks correct here's the document if anyone can be bothered to read it - the prospecting licence is only valid for 3 years and is not renewable so we need to do the work within a 3 year period from December 2016 presumably - I haven't read it for ages though so please DYOR. http://www.namr.ro/wp-content/uploads/2014/03/MLaw_85.pdf