The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Simms - I have my motives here.. HAA to deliver finance or for goodness sake just go. Would be a good reward after many years of wait and no bother if TK isn’t secured. In which case, would want to see the back of HAA for good.
Simms - I don't think anyone is accountable to anyone on these BBs. You are allowed to post what you feel and think; so is ajs or I for that matter. Sure each of us have our own motives; doesn't mean they shouldn't post because their motives doesn't align with mine.. :) anyways...
Seriously it is an update in 2-4 weeks? I would expect finance to be closed out by end of Sep, which is what HAA had communicated before? If he doesn't, it is time he can give this to someone who is capable of completing this deal. Everyone here had waited enough IMO.
I had been critical for HAA in the past.. To some extent, this finance should have been closed earlier. Dragging your feet in every opportunity - this is what happens. If KEFI issues a RNS with the latest situation and there is no impact on KEFI at this stage, we will go down a smaller percentage and bounce back. I had been here when the full state of emergency happened last time. This time it appears to be significantly less, i.e., 6 months only for a certain region. Personally I am disappointed with the progress (finance should have been done and dusted by now), but not concerned about the potential delay. I can wait. Whatever is once choice - good luck! Hope it works out for you.
Firwood - you post a lot of nonsense, don't you? I don't need to follow what you do.. :) GL pile in.. vast about to take off... diamonds are on the way.. :)
"I cut my losses on AXM, DEB and GUN, a good few years ago when I thought (correctly) they were going to turn into bigger losses, never to post on their BB’s…."
Rick - here is my ramp for you.. I tried to improvise to help with the ramp.. hope it works for you?
To be fair, vast has never been in a great place..
- last year vast raised funds almost every month, but 2023 had been a complete turn around.. raising only every other month.
- AP doing a great job by offering various interviews to keep everyone happy
- great update on diamonds.. we expected it to be solved by last Friday.. we are making good progress
- BP again fabulous progress. We spent most of the money fixing the bridges, firing a mine manager and we are waiting to export more.. BP alone is worth 100x than the diamonds.. how much is the diamonds worth?? well we are not quite sure.. but BP is worth 100x the diamonds..
- finance… we are close to resolving all the problem.. IMF is queuing up to offer all the funds, as BP is important for the whole of Europe’s stability.
- Vast's BP mine just broke even.. we will see a profit soon.. imminent.. (different imminent to BP licence).. Profits from BP will help fund more assets.. we will buy Romania soon...
Plenty more to come and lots of news lined up.. buy till your head falls off.. and wait for vast rocket to take off (almost fuelled this time after IMF funding, this is just a start before the profits pour in from BP mine by which time vast can take over the world...) 😀
AP’s delivery - 98% dilution and 99% reduction in SP from 55p to 0.38p
What AP delivered?
- BP licence
- Mercuria Tranche1
- BP to production (lol, well mediocre so far)
- Probably more to the list people can add, but nothing significant for now
AP lost all the trust from SH - Poor delivery vs promises over the last 5 years
- Where are all the money raised going and what are people working for VAST doing?
- Expanded too fast and too thin. Wasted precious resources on “non-strategic assets” and ran out of cash. No strategic thinking, no risk management and no prudent cash management. Now Ghaghoo?
- $1m raised for diamonds? Where did the money go?
- Money raised for Manaila trucks? Where did the money go or where is the truck?
- Headroom requested for one and used for others
- BP in production within 6 months of licence approval BS. Continued to be a liability – huge de-watering costs which was multiplied by finance delays.
- Mercuria 2 failure and Bergen saga.. All “ON TRACK” BS and eventual failure. We will not convert Bergen BS and Bergen did.
- Finance; we have option a, b, c and d. But couldn’t get any.
- Corporate Finance restructuring to balance books BS. Look at the shambles of current financial position.
- Sold PP at the wrong time, look where the gold price is above $1500 for restructuring finance?
- When finance package was announced in Oct-19, AP said no more dilution in podcast (unless until he gets a lucrative concession etc). VAST did a placement straight after
-Remember the twitter of few videos in Dec-19, apparently China equipment was not needed but VAST using refurbishment equipment (false dawn on restarting mine)
- We are always on cusp of something.. cusp of signing diamond (not VAST’s fault), cusp of arranging finance, cusp of BP production, cusp of turn-around.. for only the cusp to disappear after few weeks.
- Placement, placement, placements…from 50m shares to 3.41b shares. Share price from 55p to 0.38p
- ~99% reduction in share price under his watch..
-Appointing mine and processing manager 6 months after initial start? Doesn’t have a clue how to run a mine..
-Appointed Marcus Brewster as GM in Jan-21 and gone or sacked in Aug-21.
-No raise for opex or capex in May/Jun-21, but raised in Aug-21 for covering Atlas and opex.
- There is more to the list and I am sure people can add
What AP couldn’t do this so far - Finance
- Proper Debt Finance facility: Now that he raised more for further documentations, better deliver debt finance facility (FAILED spectacularly)
Of course there is opportunity with BP mine – copper, gold, silver and molybdenum - good grades which supports the historical data & one of the reasons for me to buy VAST roughly 3 years ago. But if I had been diluted from 50m to 3.41b shares whilst reducing SP by more than 99% (from 55p to 0.38p) – I have every right to be sceptical of VAST’s BOD
Simple - yep, I had poor understanding of how a mine needs to be run.. I bailed out at 40p :) I didn't realise how competent the BOD and AP were.. With a fantastic leadership team, they turned around a revenue generating producer to an explorer in the span of 12 months. Excellent results over the last 5 years. :)
Yep agreed, vast has never been near breakeven... Do you know how much money vast spent over the last 5 years on BP mine? After 5 years the company is claiming to be breaking even. Great. How long would it take this lot to generate a profit, another 5 years? Great life style.. :) Keep you all excited with potential blast off... diamonds.. BP profit.. and the rest.. Over promise and under deliver...
"Come on - they've never been near breakeven before. It's a completely new situation."
Vast will be profitable next quarter. That has been the case for the last 3 years. Next quarter it is.. :)
"Its certainly odd that a production report such as the one rns'd yesterday was held back, as although it was positive, it lacked the detail necessary to ascertain wether Vast is profitable now or next quater or 2024..."