Member Info for discopablo

Outlook

The Company has achieved much this year despite very significant challenges on multiple fronts. The reorganisation currently being undertaken at BPPM has significantly reduced cost and is allowing us to reposition the mine. The appointment of a new technical group subsequent to the period end has provided us with the necessary competency to realise our mining assets in Romania. We also continue to receive strong interest from investors at the project level and the Company is in discussion with a number of interested parties. The release of the diamond parcel was a notable success this year and the proceeds from sale are expected to significantly improve the Company’s financial position, allowing it to repay debt and, together with other measures in progress, ensure that the Company’s working capital requirements are met.

The Company has made good progress with its interest in Tajikistan with plant production at Aprelevka increasing 58% for the year. Much still needs to be done to realise the full value of Aprelevka but recent hirings have significantly increased both technical and project management competencies which should bode well for the future.

The economic fundamentals for the Company’s polymetallic business are strong. Continued demand for copper has buoyed prices, despite current geopolitical risks. The forecast global growth in electric vehicles remains likely to create, over the next decade, a shortage of copper as producers struggle to meet demand as a consequence of declining grades, water supply issues and community resistance holding back discovery and exploitation of new resources. Gold prices remain extremely well supported and we believe that this will benefit Vast in its new gold mining interests which provide diversification for the Company.

Good news ASI!

My head is spinning from all the numbers. A simple reconciliation below - please correct me if I am/ you think I'm wrong.

To clarify, 136k carats. 36k are known to be gem quality. That leaves 100k.

Sale is for 120. Could that be everything, in other words 36k gem quality, 84k additional rough and the remaining 16k waste/ chaff as part of the preparation process?

Thanks ASI - yes my point was that you described them as industrial in your earlier post rather than rough.

I'm glad you're still here posting by the way. It is clear you bring a lot of knowledge to the board. I note you have sold your holding. I do hope not for any kind of loss though and that you make it back either here or elsewhere.

The RNS says they are rough diamonds, not industrial grade diamonds, which can be very different.

Can you send a link for that please ASI? The failed sell I mean.

Probably via ixbrl so electronic upload which takes about a minute.

Just remember there's going to be a whole lot of people focussing on just the bad news from these accounts which of course in the main part reflect conditions of the company between 6 an 18 months ago. The period they cover being 1 may 24 to 30 apr 25.

They'll come up with all sorts of nonsense to get the SP down.

I agree with your calculations and post Legalease. I'm still cautious though. It would be wonderful if such proceeds were achieved.

I'm just re-reading the RNS. Money raised so that the company could receive diamond proceeds is interesting. Without securing this raise, why would the company not have been able to receive the proceeds? Presumably something in the loan agreement that would have given the creditor first refusal over proceeds?

That's not remotely unusual of course, just security offered for the loan. But more and more it reads (albeit to my tiny mind) that not only did AP have no choice to do this, but somehow it has been done for the genuine benefit of the company - in order to actually receive diamonds sales proceeds.

Anybody got any thoughts on this?

Whilst a figure that high would be incredible (and I do note you prefaced with 'up to') I doubt we'll get quite that much.

Diamond proceeds are not the only thing going for this company. I agree it's crazy for the company valuation to be 10m, but that's what sentiment can do and let's face it AP is not without fault.

Even a relatively prudent company value of 25m would be a share price of 0.50. Just saying.

What is with this fascination of needing results before the statutory deadline date else it'll be doom and gloom?!

Relax, they'll be out tomorrow.

They filed on 31st last year. No reason to suspect it won't be otherwise this year. Think you're trying to create an issue where there isn't one. Sp not low enough for you?!

Accounts deadline is 31st

We already are - just not priced in yet ;>)

That's great, thanks for sharing.

Can't see any new tweet

Absolutely all for this! Fingers crossed we get good money for the diamonds.

No worries! PS not necessarily.....

Under IFRS, adjusting events after the reporting period are events that provide evidence of conditions existing at the balance sheet date and require adjustments to the financial statements.

Agreed IQ157.

One note, your last paragraph refers to THE value of the diamonds in the accounts. I think it'll be A value. Do remember that Accounting value and sales proceeds can be very different, with usually the former being lower.