Member Info for Fantasy

Castaway - for how long VAST had been waiting for BP licence? All along VAST has not forecasted for BP cash needs if licence is not recd? Not every 3 months, but every 6 months I would have.. Coming out now is showing, how poorly cash needs was managed by VAST

Dodge - "When the SP is over the 1p + area, AP can raise, if profits are as big as predicted then he may not need to raise at all." AP should already know what the current cash levels are, what profits we are making and what the spend levels... So after knowing, AP chose to raise... If AP doesn't know - god save us all and VAST :)

Well - you have budget it castaway, thats prudent... not budgeting because of delay is not prudent...

let me say this - irrespective of what SP VAST is, if AP places anything less than 1p that he uttered in the webcast - my reaction will be very different... so either AP keeps his mouth shut, do what he has do or just do what he tells he would.. you can't have both ways....

Lee - "What about Eureka , mercuria Prepayment OT funding" - so AP needs funds to do the DD and rest of the work.. Fair do.. Now, DON'T UTTER words such as "no dilution" etc in pod casts or in webcasts... Keep that option open, if AP needs cash. I am not against for raising money. Most CEOs in AIM lose faith/trust from share holders, when they say one and do another - thats exactly what AP has done. Lets face it - AP had done a stellar job, but certainly tarnished his fine reputation for eating his own words

Castaway - I understand the need for cash and assets... I don't necessarily agree with the timing on this. Not doubting AP intentions, but poor execution/timings... couldn't have been any poorer...

"prudent" cash management? - If VAST/AP were prudent with their cash, this need to raise at this level or at this stage could have been avoided.... What AP has done - with this one potential placing is, nearly wiped out all his good work... :)

Lee - If this money is required for DD and other legal costs, I would have not approved it. This can wait.. If the opportunities goes, so be it. VAST/AP should have planned the cash needs accordingly. VAST need to walk first before running...

If AP comes out and places at this level.. I would be very very disappointed..

SP reaction suggests that stocks are being forward sold.... is it? or is it not?

Lets wait for what AP does - but as an investor I am aligned for VAST/AP to place at this level, they may still do so..

Lee - why did VAST end up with no cash??

Lee - thats a surprise.... If VAST raises for working capital needs... AP should have spelt it out clearly, that we are short of cash and hence the raise.... If AP raises at current levels or anything below 0.8p, AP would lose a lot of credibility. For me, cash raising had been in the background for AP/VAST over the last 3 months... check the share price reaction at the same time... Some talk of mid-tier company is laughable at this stage, where we couldn't get $2-3m sorted.. Walk before you run comes to mind....

1onic - bond and financing cost should be covered from this placement though? £3m from £7.4 required is for financing/bond listing costs... we may need further working capital costs, not this year - probably next year. As you said, we will be much higher hopefully (otherwise we are screwed) Best Regards

1onic - historic liabilities were not huge, or am I wrong? KEFI's financials wasn't really that clear, interms of cash available and how much is needed to make all those deals. HAA kept changing his targets, interms of financial needs.. kept kicking the can down the road and ended up making this huge dilution at critical juncture.. well we are where we are... can't change that.. lets see where this leads in to. Good luck all Best Regards

what is the basis for new valuation? if its dilution, then fair enough.. :) 10p is his new target price is it?

couldn't buy any this morning.... could sell a few million though...

Daisan - totally understand. Not all shares issues for fees hits the market straight away - agreed, mostly does. But when you know the company inside position - not everyone sells the shares straight away. Best Regards

Cherry - They would have been informed about this placement, I am sure. Some of them may have subscribed to the placing... we never know, but I am sure such a placing happens to "grease palms" etc... May be the syndicate has agreed $30m last week, with this in the backdrop.. These things are largely interconnected IMO

Agreed Cherry - expecting to tank today. But also, recovery will not be far off. People who are taking part in placing know what is coming, so not expecting this new shares to flood the market. Disappointed with more than 25% dilution... was expecting this placement after the bond issue+debt approval RNS... with higher SP... But HAA chose to treat himself a bit after all the hard work... I don't doubt the project... I expect it to progress now..

Cherry - agreed... totally disappointed with placing, especially with all the progress made... This is usual AIM thing, placement just before big news - HAA taking care of himself and his partners before debt package.. HAA putting his own money at a heavily discounted SP to see it multiply. I don't see any risk in debt package approval but disappointed with HAA's usual antics. Best Regards

Castaway - not only mercuria deal and eureka.. AP had done well including JORC, BOD/diamonds.. I am sure there are few others lined up and why he needs the funding.. no doubt about it... markets, as i see it - setting expectations and in AIM, over deliver it. What has caused the SP to where it is today? below the last placing price? why?

Castaway - no ones is perfect... but you got to learn quick in AIM... FFS... :) 5 months of CEO and same issue cropping up "on timings".. If only AP doesn't promise the world!!

Killerpidgeon - hit nail on head... If AP had to place 400m shares, without BP.. short term, next 6 months.. VAST may not move much... short term sentiment on the shares will be ruined.. will still come good in medium/long term... all ifs and buts at this stage... speculation based on details in RNS..