The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
So now we have a producing mine which has had its first commercial sale of concentrate produced, and possibly second.
We have got the Baita Plai Polymetallic Mine up and running at a fraction of the cost of starting from scratch. It did take longer than anticipated but in all fairness Romania is probably not the most efficient juristriction.
During the process of aquiring liscences etc to operate, from what I understand, we had to "cut the path" setting precidents for our company and future companies who want to operate in Romania. All this took time but now, with APs local knowledge and contacts we have made some real in-roads into Romania, anything we do from here, if we wish to, should be a lot smoother, and Romania seems to have a lot to offer commodity wise.
Commodities are only, seemingly, going to be in more and more demand for the forseable future. IMO, although this has been a long and frustrating journey, we seem to have landed up at the right place at the right time.
If a setup like this could be right for vast, you have to read to the end. They advise, finance and help manage projects they like.
https://www.mining.com/appian-ceo-on-principles-for-mining-investment/
One thing to consider Pecten11 is that the other day when we received the unfortunate news about the bank loan over 2 billion shares were traded, I have a sneeky suspicion that there were a few more buys than sells. Just my opinion - no facts to back it up.
Ideally we should be receiving confirmtion of the second sale of copper concentrate which should have concluded in December. Also we are expecting a schedule of their production and sales plans. Lets hope they follow through with these things to start trying to build a little confidence in the teamgoing forward.
Pecten,
the Company has today raised £4,846,579.90 gross through a Placing of 3,671,651,439 ordinary shares of 0.1p in the Company (‘Ordinary Shares’) at a price of 0.132p per Ordinary Share (the ‘Placing Shares’).
The Placing was undertaken by the Company’s joint broker, Axis Capital Markets Ltd.,
Going by this statement a total of 3,671,615,439 shares has been bought at a price of .132p per share. IMHO no person / organisation (who is not a charity) would buy something they did not think they could make a profit on,efore it is my thinking that whoever bought these shares looked pretty closely at our assets and thought is was worth the risk. Why else would they buy them?
A Public Report concerning a company’s Exploration Results,
Mineral Resources or Ore Reserves is the responsibility of the
company acting through its Board of Directors. Any such report
must be based on, and fairly reflect the information and
supporting documentation prepared by a Competent Person or
Persons. A company issuing a Public Report shall disclose the
name(s) of the Competent Person or Persons, state whether the
Competent Person is a full-time employee of the company, and,
if not, name the Competent Person’s employer. The report shall
be issued with the written consent of the Competent Person or
Persons as to the form and context in which it appears.
APD, this text from the 2012 JORK document indicates that the person issuing the JORC results can come from the co.
To your second point about the bank, on 23rd November 2020 APs 20% was bought out, if I understand correctly. It is possible that the bank would like to see an updated document reflecting this hence the need for "completion of certain corporate restructuring"
I could be entirely wrong, I am just trying to figure this out myself - these are good questions and I am sure there are a lot more intellegent people on here who have better answers.
The real question for me is, why are the sales details being kept so opaque, why was the sp smashed so badly on the news. It clearly states that there is money in the bank, sales have begun and copper prices are rising. If we get some good news soon then i personally think it was a "mates" top up time.
I cannot defent AP for his past peformance (nor his salary), I guess what I am really trying to say is that I think he is on the right track to get this bank loan. This IMHO could really be the beginning of an increadible run for VAST, the assets we have would start to take care of this - and it is JORCed.
In a way it will take a certain amount od disipline and focus on the boards part to complete this restructure and they will more than likely monitor peformance if granted - something like a big brother, maybe AP needs this.
"the Company has been informed by the international banking institution “the Bank” that the credit committee is unable to proceed with the approval of transaction until the completion of certain corporate restructuring at which point the Bank will reassess the transaction"
So to me (glass half full type) this copied and pasted text from the RNS does not mean "no" get out, close the door behind you and NEVER come back, but a" not at this time, go away complete your corporate restructuring and then come back". Big difference IMHO
Likewise JJ, I am just muddeling through this. These are my thoughts.
Firstly we have a JORC for Baita Plai "Thu, 29th Oct 2020 12:30 Baita Plai JORC Resource & Reserve Report". To my mind this means we have an independant report of Baita Plai's assets, not hearsay from A.P. - it is fact.
We need funds to keep going with our mining until we are profitable. There seems to be a number of ways of doing this. At the moment we have Atlas, from what I understand Atlas = share dilution. Another way is to go to the market to raise funds, again this = share dilution.
The third way (and in my mind the best way) is a loan from the bank, for the following reasons. Firstly there is no share dilution, we get an asset backed loan of X which we have to pay back at X + interest. At the moment interest rates are historically low a big + for us. Secondly as our assets increase in value (the price of copper, silver etc. has and will continue to go up (IMHO)), out financial loan will remain static, this means that as our assets become more valuable our loan will become less and less significant. In short in times when assets are increasing in value the more debt you have the better. If AP can get a bank loan (the bigger the better - as long as it is used in the correct way) and stop the share dilution, get the production working properly (nearly done) and the price of copper keeps going up (huge expected demand) this comapny has one very bright future.
Why will copper prices keep going up (IMHO), well the world is trying, needs to electrify and for this you need copper, lots of it.
Very encouraging, I sincerely hope he means what he says, good clip jimb2.
Think mirror.
My thoughts, my opinions. Lets hop the facts of the USA election come out. Going through all the evidence it seems it was the will of the people that Trump serves another 4 years. People have strong feelings about Trump based on what media outlets you listen to, I guess somewhere in the middle is the truth.