Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Cheers Julian, that's fantastic of you to share this exchange on here, although I'm still at a loss to work out if that means BOD are in or out!
JC retweeted a podcast today (recorded in September) where he was describing projects from least active to area to the most active. @ 23:20
"Vast and Botswana Diamonds have yet to conclude final terms with the zimbabwe government. We hope it is imminant and then we can really get cracking. We have planned exactly what we want to do and we are kind of standing at the starting line waiting for that gun to go".
https://open.spotify.com/episode/1rocsOjQFNl3Q3UWQBMrgG?si=d2iWa9tQQoe8-zQR4vTRrA
What do you think?
Has everyone forgotten that Botswana Diamonds (4m marketcap) has an agreement with Vast to share 13% of the diamond concession and were involved heavily in the planning of it all? The next few months are going to require lots of exploration expertise and as far as i’m aware the deal hasn’t changed... Six months ago the MD of BOD was in Johannesberg with Vast planning the bulk sampling, check out the video @ 5:25:
https://m.youtube.com/watch?v=bHSetSxA0Jw
The details of the joint venture can also be found on Vast’s website:
https://www.vastplc.com/operations/marange-diamond-fields/
I’m amazed BOD seems to have been forgotten here, particularly as there was an exclusive interview/article published on 29/09/19 with rough and polished which mentions the Chiadzwa community diamond concession and JV....
https://www.rough-polished.com/en/exclusive/115166.html
What is your interest in the Marange project that your partner Vast Resources is involved in?
As previously announced, Vast has exclusive access to key diamond concessions (Chiadzwa community diamond concession, formerly Heritage Concession) in the Marange diamond fields of the Chiadzwa region of eastern Zimbabwe, through an agreement with a community organisation. The terms of the agreement are as follows:
• A Special Purpose Vehicle (‘SPV’) between BOD and Vast to develop diamond resources in the MDF.
• Initial shareholdings will be BOD - 13.33% and Vast - 86.67%.
It seems likely to me given the recent tweets from the Botswana Diamonds MD and the exclusive article in rough-polished. https://www.rough-polished.com/en/exclusive/115166.html
What is your interest in the Marange project that your partner Vast Resources is involved in?
As previously announced, Vast has exclusive access to key diamond concessions (Chiadzwa community diamond concession, formerly Heritage Concession) in the Marange diamond fields of the Chiadzwa region of eastern Zimbabwe, through an agreement with a community organisation. The terms of the agreement are as follows:
• A Special Purpose Vehicle (‘SPV’) between BOD and Vast to develop diamond resources in the MDF.
• Initial shareholdings will be BOD - 13.33% and Vast - 86.67%.
• Vast will contribute up to US$1 million as initial funding.
• If any additional funds are required, this will be via an equity raise.
• BOD and Vast may contribute to any future equity raise on a pro rata basis. If either party does not take up its allocation, the other may.
The concession… is 6,913 hectares in surface area. The property contains several targets for modern alluvial diamond placer deposits. The grades of the known modern alluvial placers which drain the Marange diamond fields range in grade from 50-500 carats per hundred tonnes (cpht), most typically 100–200 cpht. There is also potential for remnants of the basal Umkondo (conglomerate) unit in the concession, which runs at grades from 100-3,000 cpht elsewhere in the Marange Diamond Fields.
Nope, I think I've maybe got it wrong again. After seeing the exclusive rough and polished article on 29th September I am pretty sure that BOD will still retain their 13% share. The MD is drawing way too much attention to it if not. Why commission / reach out to rough-polished for an exclusive article which re-affirms the deal if not? Also note that the RNS text has been updated to include the new name of the Chiadzwa community diamond concession. I can see a lot of profit taking in Vast flowing straight into BOD when the market realises! GLA whatever you decide :)
What is your interest in the Marange project that your partner Vast Resources is involved in?
As previously announced, Vast has exclusive access to key diamond concessions (Chiadzwa community diamond concession, formerly Heritage Concession) in the Marange diamond fields of the Chiadzwa region of eastern Zimbabwe, through an agreement with a community organisation. The terms of the agreement are as follows:
• A Special Purpose Vehicle (‘SPV’) between BOD and Vast to develop diamond resources in the MDF.
• Initial shareholdings will be BOD - 13.33% and Vast - 86.67%.
• Vast will contribute up to US$1 million as initial funding.
• If any additional funds are required, this will be via an equity raise.
https://www.rough-polished.com/en/exclusive/115166.html
Well it looks like you will get both! My thinking with Vast was that once it showed a profit, a decent p/e ratio and a pipeline of assets and expansion opportunities would keep investors happy and enable the company to keep growing. The marketcap should also grow significantly to reflect this in due course, particularly if we are fully funded with a run of good news up to production. You are right to be cautious but I think the momentum will keep this sp rising for a while yet. GLA :)
Cmon Fantasy, even you must be close to accepting that the company has turned a corner. I mainly invested originally on the basis that a) Carlibaba expansion doubles profitability at manaila and cuts 30% transport costs b) BP should be cashflow generative c) Zagra and Magura Negra are huge d) Romania is potentially on the path to re-opening some of its historic mines and e) sulphides should double Pickstone Peerless profits and that Giant might be developed in the future. We lost Pickstone along the way but if AP is right about the diamonds then the company is in a better position than ever. Remin expansion, Zagra and Diamonds were always the potential news items that would send the sp into the stratosphere, and it looks like we will have a diamond deal done and funded by the end of the week. This will keep rising from here IMO so I am happy to be back in again.
Cheers Sandy, you too! I think you did well to hold during the difficult times and keep faith in the company, so I hope your patience has been rewarded! Hopefully we've turned a corner and I can't start getting optimistic again about the future. It's all to play for once Vast receives FCF, particularly with a cleaner balance sheet and decent sized finance package.
Well I have to say AP has played a blinder here. I still think he is a massive arse for making my life a misery these past two years but I have to hand it to him, if the finance and diamond agreements are signed then this company really is back on track. I bet a huge chunk of the zimbabwe startup costs will be funded by the diamond sales, and the rest of the finance will bring BP online and pay off mercuria. The way I see it, we are kind of back where we were two years ago when I paid 0.60p. With 30m marketcap and lots of potential growth from here. With BP operational and FCF from diamonds next year, Vast should be able to fund the new mining plant and carlibaba expansion, and perhaps even make a start on Zagra / Blueberry. Well done to all that had the courage to hold here during what had previously been a very disappointing 2019!
To be honest the only thing I got right recently was the timing of the accounts landing. The accounts were much better than I thought and the market reaction to diamond news has been insane. I can't see BOD getting a % of marange because a) they haven't been mentioned at all in any of the recent Vast RNS's b) JC hasn't been over to Zimbabwe in a while and c) there was no JV announcement. I hope I am wrong on this as it is bloody annoying! I was expecting BOD to rise massively on diamond news as well. Anyway I am back in Vast now until the excitement fades so I hopefully should make some money back as news lands. Well done for being right, maybe 2p by christmas isn't so outrageous after all given the volume in recent days!
Regardless, wouldn’t any sane investor actually want to see an audited set of accounts published to companies house prior to completion of any deal? I think it will land today and will probably buy the dip when it happens.
As for BOD’s share of Marange my guess is that this is no longer on the cards despite the gentleman’s agreement. The company structures in the Vast RNS leave little room for BOD to take a piece, plus as far as I’m aware JC has not been back to Zim to look at the “new coordinates” which seems odd. I could be wrong though
Where's our RNS? We signed a JV with Vast to share profits on Zim diamonds so presumably BOD will benefit too?
Well this will still go much higher on official completion RNS next week so it's a question of whether people want to get in before or after
Well this will still go much higher on official completion RNS next week so it's a question of whether people want to get in before or after
New company formed, official announcement due first week of October!
https://www.lse.co.uk/rns/VAST/chiadzwa-community-diamond-concession-sb34a9x2ll6aeh7.html
#vast OUR TIME IS TO CLOSE TO CALL AT #vast BE IN TO WIN
#VAST rumours on the ground in Zimbabwe that the Marange Diamond deal could be close to closing. As good as done?
The inside word is that news is imminent
Rumours were flying around yesterday that the Diamonds deal was verbally agreed and that we were just awaiting signoff and announcement...We wait to see RNS release.
#VAST ITS ABOUT TO POP GUYS
#VAST Seems like #vast s ready for that multi bagger news, the brain is engaging and people are getting in fast
#VAST tick tock = rerate
#vast i believe SID, the ones that don't will miss a best of 2019 multi-bagger here
The first positive RNS from #Vast will create a domino effect which could see this 10x Bag by year end...
I am sure that these tweets are all sincere and deeply held views, but you might wish to also consider that:
a) most people have lost huge amounts of money on this company to date
b) the company is still insolvent with no cash-flow
c) The company has a history of not delivering on its promises and IMO misleading shareholders
Feel free to take a punt, but remember that the company will ultimately go bust if it cannot raise money, so please don't screw your life up if the company fails in its endeavours.
Hands up on that one! I agree we should keep the squabbles to the Vast board. It’s been a good day chaps so we can celebrate a rise together for once!
It's the downside potential of Vast that worries me! The annual report is due this month and should make for grim reading.
2p by Christmas Castaway? :P I'm still wiped out by my Vast investment but it's nice to remember what a rising share price feels like.
Wow, she's zooming up today. Had to top slice £1k for cashflow reasons but got 0.67p! Exciting :)
- JC is spending a lot of time at Thorny River / Marsfontein and seems to be showing people around the site. We should probably expect some initial exploration results from Marsfontein at some point
- BOD has already identified a suspected kimberlite blow at Thorny River following trenching and drilling. For obvious reasons they will be keeping quiet about the significance of this until the sampling license is in hand, which could land at any point.
- BOD recently raised 250k at 0.5p to spend on exploration / bringing Marsonftein dumps and gravels into commercial production.
- On 18th July BOD announced first diamond sales expected by Q4, i.e. next month
- The Sunland licenses have been extended, this could potentially unlock news or a final JV agreement on the Sunland project, and we know from twitter that BOD has setup an exploration camp there. Perhaps they are showing a new JV partner what they have found before announce something more publicly?
- Vast could have news on Marange diamonds at any point. They recently raised £655k from an institutional investor for Zimbabwe projects.
- A new liquidator at BCL means that we might finally get news on sale of BCL's stake in the Maibwe JV. I'd wager JT and JC are in discussion with them about it and it could be an easy win for the liquidator. Heck we might even get the chance again to buy the BCL share.
So whilst there is seemingly a lack of news I think BOD are in a great position overall and have topped up accordingly. We should hopefully get some positive news on one of the above before Christmas, which should take the sp higher IMO. Due to the lack of liquidity it'll be very hard to buy anything once news lands.