Member Info for hugop

Seems strange to keep everything operational" In the absence of production, the company claims it has borne expenses of approximately 8 million lei over the past year just to keep the mine operational:" if there is no value or no plan?

Strand Hanson has considerable reputational collateral on the line here, it is their responsibility to ensure the company has taken reasonable care to ensure statements are accurate, complete, and not misleading. On the 12th Feb they signed off the statement saying the RTO was on track and debts would be paid (obviously with the usual caveats). We all know AP reputation (for inconsistent news quality) but I had hoped with the right guidance things might have change for the better. A couple of auctions in Dubai have just concluded, so let us hope that’s the catalyst for the positive news we are all hoping for and which was alluded to in the last RNS of the 12th Feb!

On 25th Nov 2025 the company reported

"The remaining unsold goods from the tender, comprising approximately 2,965.68 carats of higher-grade gem quality stones, are still being marketed and are expected to be sold in due course. It is anticipated that these unsold stones will be marketed together with the as yet untendered stones, which together are expected to deliver the majority of the value to shareholders and will be sold in an orderly manner."

In the absence of any subsequent notification about the above stones and given the Company's disclosure responsibilities should we assume after nearly 4 months none of these stones have been sold?

Suspension of a company’s shares because of a pending reverse takeover (RTO) does not remove its disclosure obligations while the company continues operating. The principle is the same: material information must still be disclosed to the market. There is no way the silence can continue.

Gordon, we should have the interims early next week, do you think RW will give us an idea of what is going on?

Gordon, good to see you and Roland are talking again! I suspect the lack of reply now is more of a "closed period" restriction than a lack of willingness to reply. Fingers crossed.

Appreciate what you are saying and good to see you are so sanguine about the current situation, but I can't remember a time when vast and delay have worked well together. All I can see in the absence of news is the Diamond sales being used to fund working capital at the same time risking the Company's ability to complete the RTO and pacify its creditors.

Sajad, fully appreciate what you are saying and I read your post with interest. You're right SYN are not currently selling their share to Selan, but have you considered that someone else may have entered the frame and value SYN's 50% higher than Selan do? That may be our background noise.

Morning Gordon, my guess is it's another buyer, too much rumblings for a simple Kiss and make up story. If indeed SYN feel their share of the asset is worth £75m and someone else agree's well that would explain some of the big buys going on.

Under the UK Companies Act 2006, the notice period for a General Meeting (GM) is generally 14 clear days this should Include the "correspondence allowance" (deemed delivery), so a 14-day notice period often results in a minimum of 17–18 calendar days between the date of posting and the meeting date. To meet the delayed backstop date and debt repay date we are already in that critical 17-to-18-day period. Silence is no longer an option.

Wolfman, I think you are right about developments in the background, this from the RNS on the 9th Feb suggest just that:-Synergia remains willing to complete the SPA, however, since the conditions precedent for the SPA have not been satisfied by Selan prior to 8 February 2026, Synergia intends to examine its options. I think it has been examining it's options for a while given the ongoing frustration with the Selan JV and suggest there is more to this SP revival than just the uplift in production.

Seems crazy to take it to the wire though

Muck given that the debt repayment is due on the 31st too, do you not think they will need the GM earlier so they can vote through and arrange a fund raise in time?

I really can't see a way back , if another deadline is missed, the ongoing narrative (of future glories) just becomes too difficult to swallow.

No news again this morning, and I am getting increasing concerned about the integrity of the deal. If we allow a week for the fundraise and 2 weeks for the GM notice, we are left with precisely 3 to 4 workings days to get the admissions document out and the GM announced, otherwise none of our financial commitments can be delivered (again). Meanwhile the continuing suspension has effectively neutered any action Shareholders can take for themselves.

I heard the same Gordon, fingers crossed there is light at the end of the tunnel.

Gordon it's been one hell of a journey, but apart from the interims, which are due soon, I think there may be some other activity in the background. Keep hanging in there.

It’s difficult, with each day that passes now I feel more uneasy, but at the time of the AGM, as I said, I felt quite reassured not just with AP answers, (he’s a good salesman as we all know), but also of the other board members. Just seems crazy that we are going to the wire again; I hope it is not beginning to unravel.

There was talk about the diamonds , but the answers were fluffy and limited by the “what we can disclose card” as I recall. Seems strange saying that now but at the time we didn’t really press on it. In hindsight of course!

I thought frustration was the default position for all VAST stakeholders not just the special reserve if shareholders!