Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
https://www.petroleumnews.com/pntruncate/291085275.shtml
I especially like the directors comments regarding Merlin 1 results, stating that these were the best to date. Looking forward to the next drill run. I hope they manage their time better this time round and include Harrier too. Previous RNS has left that open for 2022, so with a bit of joy we could be drilling at both.
Would I be right in saying that we are still expecting the Phase Two of the geochemical analysis program on the side-wall core trims results and the the preliminary results of the Volatiles Analysis Service (VAS)? Or have they slipped these in without me noticing?
100 is a bit much in my opinion, this share is not worth 10p as the company stands it should be by 10 instead as 1p would be a more accurate reflection. If it goes to 10p it will never see £1, but 1p we could see 10p plus. The only good thing about consolidation, is that once done the SP will respond better to good sentiment rather than moving like a dead slug. I think I may vote against too.
I was not pleased one bit with the raise of 4.8m on the false dawn of financing. However they do appear to be putting those funds to good use since then, what with the new revised plan, new equipment and appointment of new experienced staff to push the plan into fruition. I am starting to view things with more positive eyes too. At least that 4.8m does not appear to be going to waste. If we had not raised those funds we would still be going no where. Now there appears to be hope for a brighter future. We just need to get rid of this Atlas debt financing which is like a heavy weight around our necks. How that plays out only time will tell, but this new plan looks like a step in the right direction. I am inclined to agree with Sandy though regarding whether the revenue will be enough to clear the debt in time. They will probably need to address that in some shape or form before the end of this year. GLA
Back when we drew down for Atlas I was under the impression that 1 million of that was to pay off what we owed to Mecuria. Do we still owe them 3 million? where is the proof of that outstanding debt? Was it Detailed in the financial report?... if so can someone point to where, I’d be interested to see the proof for myself, Cheers guys, Hippy :)
Their previous RNS stated they would update us by the end of March with their revised plan. This was not the update we were expecting for sure. We all want to see facts, not waffle, so from that point of view I would agree with you, but March is not over yet by a long shot. They could still RNS the details later. Will just have to see how this plays out.
Ah smeg it, my previous comment just does not sit right with me. Sorry Starvest, but the optimist is getting the better of me. The statement you quoted previously before is in fact to open to interpretation for me to agree with your pessimistic views on it. The more I think about it the more it sits true with me that Vast have already drawn up their plan, if not why would they have gone ahead & purchased the equipment. They are obviously there on site to push this into fruition. You can say all you like about it not about gearing up and that it will be along time before we see a noticeable effect on production, but I don't think that's true either. We are in production now & have been for a number of months. If we get new equipment how is that not going to have a positive effect on our near term production. I just does not make sense to agree with you so I'm retracting my previous comment.
Agreed Starvest that statement they posted is very open to interpretation. No real details about the plan, nothing set in stone. Reading back at their previous RNS it states they have bought the new equipment to prepare for the enhanced mechanisation under the revised plan. They obviously have got something in mind, but it sounds like they still need to sit down a plan it out properly. I'd like to think we'd be a little further on than that. However with VAST's previous track record I'm not overly filled with optimism.
It all depends on how’s it’s delivered if the company keep us well informed over the next two weeks and injects some excitement into a positive turn around for future production, then sentiment may swing in our favour. If it’s tea & biscuits and death by PowerPoint then we maybe in trouble.
Don’t ever buy into the idea that just because we’re below the threshold, that the company would not find away of raising the cash at our expense. If the company wants to stitch us up, they will find some loop hole to do so. However I think it would be in extreme poor taste to make shareholders pay out for Atlas again going forward. They just raised 4.85m not so long back on the false dawn of new finance. That to be honest left a bad taste in many mouths here. Reading between the lines of that RNS, was like them almost saying “Oh well we did not got the finance, but on the up side we raised 4.85m at the shareholders expense, so all’s good in the hood here at Vast, don’t worry we’ll spend that in the meantime, we can always raise more later when we try again” That in my opinion was a pretty low moment for every holder here and the company owes their shareholders big time for that slap in the face. The least they could do is I make some kind of contribution towards settling the Atlas debt out of their own kitty. It’s been about 4 months now since we started shipping to mercuria... even if they are not hitting the expected output, they must at least be breaking even to cover the cost of the mine. They are supposed to be updating us shortly regarding their new plan, hopefully this will bring some clarity as to how we are progressing and whether we are any closer to becoming cash flow positive. Sorry if my post seems a little negative, but the company needs to be reassuring their shareholders that there is good reason to remain invested here, rather than taking them to the cleaners at every given opportunity.
Fair point gkb47, I’ll admit the past has not been so rosey for vast, but things are starting to look interesting now we are finally in production. It’s still awaiting game though as always.
Ant thanks for the history lesson. Miss timing indeed. It is easy to trail through other people previous posts, looking for something you can use against them. However it does not make my current opinion any less. The only difference between then & now is that right now would have been a much better time to have invested IMO. GLA
At least she has got some good energy to bring to the board, when was the last time you ever contributed something worthwhile about vast gbk47? Hope is Sarah’s call sign and right now there genuinely is Hope that this company is finally on the move up. The SP may not reflect that yet, but given time and good news flow momentum will build. I am happy waiting patiently on the side line. I’m not concerned one bit about the SP dragging it’s heals & neither should any other LTH. GLA
1. We start seeing revenue coming in
2. We re-finance a long term deal that significantly reduces risk
3. The diamond deal gets signed
Till then we ain't breaking a sweat... Jorc results might be worth a good spike, but other than this is a waiting game. Only 1 of the above looks very close at the moment, but you never can tell with AIM. GLA