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Three shifts - operating 24 hours
'In this context, a new spontaneous protest takes place at the Baița Mine, and the employees refuse to enter the mine on the second and third shift because the salaries have not been transferred'
https://adevarul.ro/stiri-locale/oradea/protest-spontan-la-mina-baita-minerii-refuza-sa-2301900.html
Apparently its been happening regularly since they started there, so not a new issue, I'd imagine just cash flow from the usual slow payers, as nearly all business suffers nowadays - but clearly production effort well up since last update so I would imagine factoring ought to now be available to them also
Definitely shift work now in progress
'The miners from the second shift are in the yard of the company, refusing to work because the owner of the company still did not keep his promise made at the beginning of the week, namely to transfer wages by Wednesday, September 20'
https://www.bihon.ro/stirile-judetului-bihor/protestele-continua-la-mina-baita-400-de-persoane-refuza-sa-munceasca-4403785/
Yes concur with that Regvarny (love the mystic reg readings btw 😊) the only possible point apart (sling your hook we are too busy) for Mondays RNS was to make it clear the diamonds were no longer pivotal in vasts short to medium term needs (example loan settlements 29th September)
But I felt they’d already made that point pretty clear in the 1st September update that they’d already made firm arrangements to settle the debt with or without the diamonds
Yes absolutely agree Hasiba it’s all about trust - and despite the high probability vast now has (discounting all other assets) a profitable copper mine with substantial longer term upside there’s little trust at the moment
I’d say most of the diamond hunters are now flushed out - so with the right news landing shortly a chunky rise to at least bottom line levels is on the cards
DYOR
Is that a cross ramp for Clon ASI ? I thought you didn’t ramp 🤣
Picking up on your earlier
‘BP update due shortly. Price is dropping nicely. JV on the cards. to sort out debt. Will be buying big later once its bottomed out GLA’
Anyone might think you ‘neglected’ to mention the reason your desperately trying to keep the VAST Sp down - is to buy time for you to get out of your other stock still trading ‘CLON’ that your so deep and underwater with - was it 1% or reaching 2 to 3% you now own - TR1 soon 😉
Ouch 🤣🤦♂️Ok I’ll leave you be - GL everyone else !
ASI it seems you are illiterate as well as arrogant
From todays RNS re BPP - ‘The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes’
Maybe stick to advising folks on your other two great investments LVCG and Clon
I’ve needlessly bitten my tongue and humoured you for quite a while now because the chips on both my shoulders are well balanced, I also don’t need an extension of a certain part on my body
God bless and have a nice day 👍
Yes it was almost like an eff-off and stop bothering us, we’ve got more important fish to fry RNS
I believe investors should focus on the following
Copper Ore Current Price is USD 8349.13 per ton up from USD 7981.84 one year ago.
Average price Growth Rate 6.49%
The now profitable BPP mine potentially has up to 5.8 million tons x $8349.13 = ?
Also worth noting the Chinese have been aggressively buying up lands and commodities all over Romania in the last 5 to 10 years and we know they have a major thirst for Copper
DYOR
This is the part I Love about the now profitable BPP mine
The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target.
The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes !
Looks like Gsa Capital Partners Llp opened a 0.51% short on vast 7th Sep 2023 - so that will account for the large trades and slow walk down on little volume over the last few days
Up to you lovely folks to decide whether a £1 bil company with a 0.5% short has better insight / inside info than the 7.2% holding the £11 bil capstone currently have
DYOR
Yes waste of time - if they needed the SP to go up to get a placing away they would be ramping and podcasting it to the stars as all AIM’s do
IMO it’s all quiet because there’s big news to come, which in VAST case is common with the last 2 massive spikes
DYOR
Nice one ASI that’s me guilty of not thoughtfully DYOR attention to detail (Ive eaten eat my words) !
Always wondered why a prolific £11 billion company would have offices in Zim - yes exactly the bigger picture as steward1 point
Either way balance of probability suggests they’ll be insiders, as firstly had to be well informed to take such a risky punt buying up the 55p placing, and secondly they’ve only taken stock during placings which may explain why they haven't averaged down outwith placings, another TR1 now would suggest to me that they just retail punters like us
Good weekend everyone ! 😊
Exactly Steward1 - It’s obvious the current lenders are very amicable patient and trusting that’s why they’ve been so relaxed about extending payment deadlines - so if VAST didn’t have a firm method to settle this - why were they so pleased to set a payment deadline for September 26th ?
Yes there’s always going to raises at some point, that’s the whole purpose of every stock market listing !
DYOR
Theres NO possibility VAST will be intending / wishing to settle the outstanding £8 million debt with a placing.
Why ? There simply isn’t enough headroom to do so unless the SP was substantially higher - example 0.8 plus
The debt will be settled either by refinancing with existing lenders - commercial financing due to the £200 million valued BPP copper mine now operating profitably - or by the much desired release of the £15 million valued Zimbabwe diamonds. Capstone have offices in Zimbabwe, so they will be in the know and IMO insiders
Vast current mkt cap £9 million DYOR don’t listen to idiots
7 Aug 2023 07:00
Company Update
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
7 August 2023
Vast Resources plc(‘Vast’ or the ‘Company’)
Company Update
Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022, the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.
As announced on the 16 May 2022, the totality of the debt owed to Mercuria and Alpha was due to be repaid on or before 30 June 2023. The Company is currently concluding documentation regarding an extension to 29 September 2023 that will allow further time to finalise the settlement of its historic claims outlined in previous announcements.
1 Sep 2023 10:00
Update on Debt Funding
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
1 September 2023
Vast Resources plc(‘Vast’ or the ‘Company’)
Update on Debt Funding
Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022 and the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.
Further to the announcement made on the 7 August 2023 the Company has now concluded the legal documentation regarding the extension to 29 September 2023.
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So the latest official information we have regarding the diamonds is -
‘that will allow further time to finalise the settlement of its historic claims outlined in previous announcements’
If this situation had changed we should have been told this in the 1st September update – so logic says they must now at least have a back up plan to settle this debt
DYOR
Copper is the third most-used metal in the world, and experts believe demand for this important commodity will rise in the coming years on the back of a tight supply situation.
https://investingnews.com/amp/when-will-copper-go-up-2655227629
ASI some good points there, but picking up on your -
‘and hope it isn't as hard ball as the intelligent amongst us anticipate’
Does this statement assume Capstone are in the intelligent, or not so intelligent amongst us ?
Yes it’s all a bit of mystery because the usual diamonds text has been omitted from the RNS, my feeling is they are trying to tell us via the firm settlement date that the diamonds are now sorted but they are unable / unwilling to make this public knowledge at the moment
Perhaps due to the current election fraud claims it’s a political negative for Mnangagwa to let £15 million worth of diamonds leave zim with inflation running at 78%
Or perhaps it’s simply the fact the diamonds are now on the back burner and they have already secured commercial financing with the now profitable £200 mil valued BPP mine ?
For me it’s extremely positive either way for a £10 mil mkt cap company hence why my holdings are getting closer and closer to those of AP
Either way DYOR
Nah the only leak going on is the reality that this stock now very much derisked and worth considerably more than £10 mil mkt cap without any diamonds, though it’s quite likely people’s also buying in with the zim elections just 2 days away in mind.
It’s my feeling that the next diamonds announcement will be timed to come after the election is settled but only my opinion
DYOR