The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Https://www.thezimbabwemail.com/business/british-mining-executive-flies-into-harare-to-recover-diamonds-from-rbz-after-12-year-dispute-thanks-mnangagwa/
Vast Resources says it is finalising the recovery of a parcel of 129,400-carats of rough diamonds in Zimbabwe after a 12-year dispute.
The company successfully sued the country’s Mines and Mining Development ministry early this year and now plans to sell the diamonds through a tender.
It surrendered gems from the Marange diamond fields amid claims it had exploited them on claims previously owned by De Beers.
In an update issued Monday the company said: “Andrew Prelea, the company’s chief executive officer, is currently in Zimbabwe as the company finalises the recovery of the historic parcel of 129,400 rough diamonds held in safe custody at the Reserve Bank of Zimbabwe pursuant to the High Court Order in the company’s favour.”
Vast Resources says it is finalising the recovery of a parcel of 129,400-carats of rough diamonds in Zimbabwe after a 12-year dispute.
The company successfully sued the country’s Mines and Mining Development ministry early this year and now plans to sell the diamonds through a tender.
It surrendered gems from the Marange diamond fields amid claims it had exploited them on claims previously owned by De Beers.
In an update issued Monday the company said: “Andrew Prelea, the company’s chief executive officer, is currently in Zimbabwe as the company finalises the recovery of the historic parcel of 129,400 rough diamonds held in safe custody at the Reserve Bank of Zimbabwe pursuant to the High Court Order in the company’s favour.”
The gems have been held in the custody of the RBZ since 2010, pending the determination of an appeal against the High Court’s decision in 2009. Vast resources began formal legal action in the High Court of Zimbabwe in December 2022 which came to finality this week after production of a court order bringing the matter to a close.
“The order should allow for the start of a lawful and transparent release into its custody of a historic parcel of 129,400 carats of rough diamonds, held in safe custody at the RBZ. The stones will be independently cleaned and valued for the purpose of selling through a tender process.
“Vast Resources PLC shares rose Thursday after it said that the High Court of Zimbabwe has granted a default order against the country’s Mines and Mining Development Minister, relating to historic diamond claims. The shares went up at 0,2 pence, or 25% at 1 penny,” said the company.
The signed High Court order is expected in the coming days and once the processes are finalized, Vast can refocus attention back to other opportunities in the country...
Buda_
That is actually good news.....
Typos sorry....corrected
We will all be ballotted and voted as to how long we may be allowed to live. Even this futuristic scenario can take on an eerie outcome as our old-wisened and creaky bodies are sent on huge journies to colonise new found exo-planets.
MrTriumph....
...in real life, something is always imminent. We are always a bit closer to the next major event or news !
You can ride a bike and use gas for many years befor they become obsolete. Likewise with changing trends in rare metals, manganese will still retain many industrial uses.
Even lithium has many uses.
No matter what resources are in vogue, their will always be those that claim other resources will takeover.
Might as well say "we won't even need electricity soon as everything will be generated by nuclear bursts from space and our own sun.
And in years to come we will all be kept alive by artificial blood and will live for hundreds of years. Air and oxygen will be scarcr but we wont need oxygen or even food anf water.
We will all be ballotted and voted as to how long we may brcallowed to live. Even this futuristic scensrio can take on an eerie outcomr ad our old-wisened and creaky bodies are sent on huge journies to colonise new found exo-planets.
Some may live on in other dimensions and meeting and reviving long-gone relatives and ancestors. The ultimate future brought to us via time travel hmmm ??
I would say Zimbabwe are a gross incompetant country that world wants to ignore but are leagues behind other cruel regimes like N.Korea, Iran, China, Russia because they grab foreign business to help keep cash flowing but are totally incapable of running a fair health and legal system and are also unable to wage WAR on any civilised country (or uncivilised).
Was it Einstein that said when asked how WW3 will be fought, he replied....."Not sure about WW3 but WW4 will be fought with knives, spears and sticks n stones"
SANTIAGO....I have seen VAST come back from near eXtinction so msny times in the past
. Only once about 3 yrs ago i caught it just before a steep rise but always escaped and on not much news. That is why i hold Vast ....sometimes forgetting them until the eXpected bounce occurs. I actually did quite well back then.
As for the diamonds...i hope they are held in a vault awaiting final court's decisions.
ÀP is not giving up and will somehow squeeze this poxy Govt throug legal means to save some integrity or be ostracised by international traders. Imo
Rns yesterday 6th
https://www.investegate.co.uk/announcement/rns/bezant-resources--bzt/update-on-projects-/7737593
Bezant (AIM: BZT) is pleased to provide information on further positive results of Phase 2 metallurgical testing carried out by Wardell Armstrong International ('WAI') on a sample from its' 100% owned Kanye manganese exploration project in Botswana. The primary objectives of the testwork were to optimise the leaching conditions to achieve high manganese recoveries at more economical conditions relative to the previous phase of testwork and to benchmark the project against other manganese projects.
Https://www.voxmarkets.co.uk/articles/andrew-prelea-of-vast-resources-we-are-the-most-undervalued-stock-on-aim-24e8ba0/
Andrew Prelea, CEO of
Vast Resources
discusses progress at Baita Plai and the Zimbabwe Court settlement over 129,400 carats of rough diamonds, which when combined he believes could mean they are the most undervalued company on AIM, hence why he took part in their placing to raise £2.38m.
HIGHLIGHTS
Vast Resources plc, the AIM-listed mining company, announces that it has raised £2,382,500 gross through a placing and subscription (the ‘Placing and Subscription’) of 433,181,818 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.55p per Ordinary Share (the ‘Placing and Subscription Shares’). The Placing was undertaken by the Company’s joint broker, Axis Capital Markets Ltd (‘Axis’) in addition to participation from Shore Capital Stockbrokers Limited and Andrew Prelea, CEO of Vast Resources PLC.
The net cash raised from the Placing and Subscription will be focused on the ongoing drilling programme and the production ramp up at the Company’s Baita Plai Polymetallic Mine in Romania (‘Baita Plai’), as it continues to move towards realising name plate capacity of 14,000 tonnes per month in H1 2023 following a strong Q4 2022 production and sales performance.
Article from Feb 2023...
So, what went wrong????
Vast Resources Plc
VAST.L
Vast Resources Plc
GBX 0.265
-0.005 (-1.85%)
Last updated 15:46
Placing to raise £2,382,500, Baita Plai Update and Director Dealing
6th February 2023, 07:00
TwitterFacebookLinkedIn
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
06 February 2023
https://www.voxmarkets.co.uk/articles/andrew-prelea-of-vast-resources-we-are-the-most-undervalued-stock-on-aim-24e8ba0/
Placing to raise £2,382,500
Baita Plai Update
Director Dealing
Vast Resources plc, the AIM-listed mining company, announces that it has raised £2,382,500 gross through a placing and subscription (the ‘Placing and Subscription’) of 433,181,818 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.55p per Ordinary Share (the ‘Placing and Subscription Shares’). The Placing was undertaken by the Company’s joint broker, Axis Capital Markets Ltd (‘Axis’) in addition to participation from Shore Capital Stockbrokers Limited and Andrew Prelea, CEO of Vast Resources PLC.
The net cash raised from the Placing and Subscription will be focused on the ongoing drilling programme and the production ramp up at the Company’s Baita Plai Polymetallic Mine in Romania (‘Baita Plai’), as it continues to move towards realising name plate capacity of 14,000 tonnes per month in H1 2023 following a strong Q4 2022 production and sales performance.
The Company is seeking to prove up and obtain a Mineral Reserve as well as increase its Measured and Indicated Resource, with particular focus on confirming the enlarged Exploration Target of up to 5.8 million tonnes with grades of 0.50–2.00% copper, 0.20–0.80 g/t gold and 40-80g/t silver that formed a part of the historic NAEN code Resource. The resource expansion project will be split in two phases: the first focused on confirming Resources for exploitation in the near future to support production ramp up, and the second focused on resource expansion and to identify additional mining areas for the future, to enable the underground access preparation.
The funds will also be used to ensure the Company can clear its current corporate obligations as well as reduce its creditor position, including a debt reduction payment to Mercuria Energy Trading SA (‘Mercuria’) in line with the terms of the intercreditor agreement between the Company, Mercuria & Alpha Credit SA as announced on 16 May 2022.
Baita Plai Update
Vast is pleased to confirm that production at Baita Plai continues to exceed projections and the Company is on track, based on current commodity prices, to achieve name plate capacity in H1 2023 as previously announced on 4 January 2023. The Company also continues to make improved regular monthly sales of concentrate.
Directors' Dealing
Andrew Prelea, Chief Executive Officer and a Director of the Company, participated in the Placing in the amount of 15,000,000 shares for a total consideration of £82,500.
The table be
Feb 23 2023
https://www.voxmarkets.co.uk/articles/andrew-prelea-of-vast-resources-we-are-the-most-undervalued-stock-on-aim-24e8ba0/
Andrew Prelea, CEO of
Vast Resources
discusses progress at Baita Plai and the Zimbabwe Court settlement over 129,400 carats of rough diamonds, which when combined he believes could mean they are the most undervalued company on AIM, hence why he took part in their placing to raise £2.38m.
HIGHLIGHTS
Vast Resources plc, the AIM-listed mining company, announces that it has raised £2,382,500 gross through a placing and subscription (the ‘Placing and Subscription’) of 433,181,818 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.55p per Ordinary Share (the ‘Placing and Subscription Shares’). The Placing was undertaken by the Company’s joint broker, Axis Capital Markets Ltd (‘Axis’) in addition to participation from Shore Capital Stockbrokers Limited and Andrew Prelea, CEO of Vast Resources PLC.
The net cash raised from the Placing and Subscription will be focused on the ongoing drilling programme and the production ramp up at the Company’s Baita Plai Polymetallic Mine in Romania (‘Baita Plai’), as it continues to move towards realising name plate capacity of 14,000 tonnes per month in H1 2023 following a strong Q4 2022 production and sales performance.
Article from Feb 2023...
So, WTF went wrong????
Roger ...
.lol
Ffs...lol
Passiton
Good posts...thanks
Or the Diamonds finally arrive, debt cleared and the Market will like it even more 😉🤑
The market invented the saying
NO PAIN , NO GAIN 😂
I invented the saying ...
No worry, No cry
Just as likely to go under 0.39p to 0.4p ..ramped up to 0.45p then back down again. Lol
They're all at it...naughty people
https://www.dailymaverick.co.za/article/2020-10-31-president-mnangagwas-wife-and-son-fingered-in-gold-smuggling-syndicate/
They were advertised on ebay as being as big as small marbles.
Vast Resources expects to receive the diamonds in October 2023, after completing the necessary regulatory approvals and operational preparations.
Not sure I believe any of that.
If true then why not...sounds ok to me
☹ "And finally, we wish to reassure all shareholders of our complete commitment to see the Company make application to recommencing trading of its shares on AIM in Q1 2024"
" ....and the goal posts that i am trying to sell at a reduced price are still up for sale after 5 years, on ebay.
No takers ...and i will use them for a few more years..mmm lol "
They need to 'set up an interview' with a specially appointed interviewer to catch CP out on camera ....madness how he is allowed to keep investors money from Lionsgold from 5 yrs ago...
I will never understand the legitimacy of 'legalised fraud'