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Robbo, when the share price is languishing, there is always a sonic whispering doom and gloom, they don't ever predict a massive rise - before sonic we had Fantasy, he moaned all the way down from .6p to .1p - we went back to .5p in a couple of weeks and all the moaning stopped and then it was how great VAST was.
If you really understand the history of VAST, (back to 2006) you will know why the company is where it is and also the massive potential.
I am not sure why people dis a share all the time, maybe they have several motives, personally I sell up if I don't like the way a company is going.
VAST is always waiting for some government to give them something, it's frustrating and takes years, but when we get BP going and the diamonds and with more dilution the s/p will be several pence - this should happen in the next year/18 months.
Currently the s/p is a bargain IMO, (MC just £15 mil) now it may be a few months before it rises much, or it could be next week?.
If you don't mind waiting VAST is a great investment, but after CV, so are many FTSE100 companies and they are practically risk free!.
https://www.bbc.co.uk/news/business-52331443
A year earlier, Mr Rihan led an audit that discovered Dubai's biggest gold refiner Kaloti had paid out a total of $5.2bn (£4bn) in cash in 2012.
Mr Rihan argued it was evidence of money laundering - but EY didn't report the activity to the authorities.
I wonder which other fraud they failed to report?
high of 24.4p not 2.4p of course!
Grim it was going up this morning, a high of 2.4p shs do not just go straight up. It takes time for a share to recover - trading at 18p early this month, now 22p with a rise above 25p on the way. Give it a few weeks and it should be 30p+ IMO.
Well Grim, maybe they were correct - look at the company and make your mind up. I think 30p+ will happen soon but then I did do some research instead of moaning at a load of rampers!
YE, "What I will tell you is that you are unlikely to find any useful information or knowledge " - I agree with most of your post, however you will get useful info from a BB, provided you apply the correct info filter. Share trading is about sentiment as much as fact. Trump tweets s/p rises - no basis in actual reality of supply and demand the POTUS can raise oil by $5 on a tweet.
From what I have read viruses become less deadly the longer they remain in the population - makes sense - no point in killing the host if you want to transmit and survive.
Anyway looks like this oil deal will shore up the markets near term.
Latest presentation from Dec 19: http://botswanadiamonds.co.uk/wp-content/uploads/2019/12/BOD-Presentation-Dec-2019.pdf
One problem with BOD assets - it's complicated and there are many!
Worth wading through though there is real value at current s/p levels IMO.
https://www.brrmedia.co.uk/broadcasts/5e3c00ae397af40afa52b473/botswana-diamonds-video-update-from-cape-town-2020
Whilst I am bored out of my skull, I thought I would add a video link to JC talking in Feb.
He talks about the new Marsfontein drilling at Thorny river (now complete and awaiting results of bulk sampling) and drilling later in the year in Botswana. I will try to find other relevant content to post over the next few days if any others want to join in, be my guest - BOD is sheltered from the ups and downs of oil and CV to some extent and is very cheap to buy right now with the assets we have. I hope everyone is enjoying the bank holiday weekend as best they can, under these adverse conditions. GLA
Rastuss I agree. The administrators are tasked to recover the maximum amount of debt for the creditors, so in this case it is probably better to continue the business (politically and financially). You sack the old BoD get in the new (who bring cash), this will be to pay off some of the loans and they agree that a certain amount of debt will be taken on by the in effect new company and the rest written off. There still could be a bit left for current shareholders, but only if it's cheaper to do this. If not they may keep the business private or relist?
adzy, FTSE100 is not my cup of tea, I like moderately high risk, so was in at about 7 quid, just CFD's for a bottom feed. I didn't think it was as bad as has been exposed however.
I feel for the investors who have lost serious cash, I have been there a few times. Unfortunately, it's part of investing.
I agree Echo, potentially BOD could mutibag in the coming year, however in the current environment there are even FTSE100 shares which could potentially multibag and are far less risky.
Exploration shs like bod remain static until progress is made. If you are prepared to give it 6-18 months I think BOD could be worth 3p+ and potentially much higher.
James Campbell is a safe pair of hands and he is a very honest and incredibly knowledgeable Diamond expert. He has delivered in the past and will do so again IMO.
It's potentially a great share, your money would lose money in the bank with inflation, so if you can afford to lose it why not invest?
I't's good fun as well (mostly)!
I think this is the best way for creditors to go, the business is worth far more as a going concern than the assets sold off under duress.
It probably won't help current shareholders much though, why would the banks want to give anything away. There may be a chance that there is a massive debt for equity swap where current shareholders get a few pence per share under the new arrangement as it may be less expensive to do this than start again with an entirely new entity. This happens on AIM far too often.
Mrd - I think that was just wording - the FCA forced it IMO - they did the same with FIN, said they were asking for suspension, but in reality they were told to.
FCA ****up IMO - all for an orderly market - what complete ******
Well that's a possibility, unfortunately it's unlikely from my bitter experience of administrations of UK listed companies and I have been ain many over the years. the administrators will try to get as much cash in but Shetty and his mates will have sent that money out via FIN and it will be already laundered and legitimized and impossible to trace.
Mrd - the shares only have value if the company has value, the debt means that the company is probably worth -$5bn. there is no value and whatever value is left will go first to the banks and other creditors - sorry to say it but common shareholders are at the bottom of the pile in administration.
Mrd if you want to project your anger at someone I think Shetty and his co-conspirators are better than Rastuss, he is just giving his opinion. He has a point if we weren't in a limited company the shareholders would be responsible for the $6.6bn debt as well as losing all the value in the shares.
Mrahman - the banks have had time to consider the situation, even as a profitable going concern the business would probably not be able to service $6.6bn of debt and IMO after looking at the accounts the profits do look large for a healthcare business, as MW suggested. Maybe the banks have reports which also suggest this?
Bank's are not equipped to run businesses, they just want as much back as possible and to move on.
Sorry Mrd - i don't see anything for shareholders - the lenders will take all the value and even they will take at least an 80% haircut, I doubt there is much more than a $bn in the assets in an admin fire sale, if the true indebtedness is $6.6 bn, the outlook for all is grim - well except Shetty!.
Rastuss there were many posters informing this BB about the risks, but at the time it was not clear how bad the situation was and the company had hired Freeh etc. in an apparent bid to clear their name - so it was either a problem the company would recover from or a complete fraud! - it turned out to be the latter, how many FTSE 100 companies have been complete frauds? and the s/p was very cheap if it wasn't a fraud.
I was aware of the risks I have been in a few shs like NMC and I have usually done well bottom feeding - you have to understand you could lose your complete stake when trading this type of situation.
Even the great adzy eventually went (cautiously) long !