Lessons you learn28 Oct 2021 14:10
Hi All,
This is my first post on LSE in a very long time, some of you will remember me as lord chilston on twitter, you may also recall the videos i did on vast last year. I sold my entire holding at a 50% loss at 8.4 some months ago. I thought i was foolish at the time.
I have been monitoring your posts periodically just out of curiosty i guess and do get into to the mindset of PI's when things are not going well.
My reason for selling at the time was 3 fold, i didnt see good news round the corner, they had failed on re-financing and economic uncertainty made me have to re-evaluate my position. I know longer invest in AIM stocks.
I often reflect on what ive learned from the vast episode and walking my dog this morning, wondered if i would invest back in here at the current level, and this answer is still no.
They cannot re finance using a credible bank, they have not delivered and the CEO is still happy to take a massive salary. Im looking at financing for jobmove as im a ceo too, yet i will not be interested in a high salary until the company proves itself. I could say that AIM has taught me that its a good way to pay myself with no risk, for that... i applaud the Andrew, yet its just not my style.
Finally, i dont blame vast, whenever situations like this arise and i make a loss, i simply look at myself and judge my own actions and hopefully learn from them.
I feel for LTH's and sympathise with your losses and i truly hope you see a reversal, as for me, i will not be investing even with the current mcap. Mature miners could buy VAST on a credit card yet they are not remotely interested, banks wont finance them, they're not interested either. I agree that the BoD lacks experience and has lost all credibility to the point that it doesnt really matter what positive spon on an rns they pull, there will always be doubt on their credibility.
Anyway - i just thought i would come back, say hi and all that, and wish you all luck.