Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
"There’s big risks here. I recommend a study of the auditor’s statement on Vast’s status as a going concern in last year’s Report and Accounts."
In the past 5 years of annual reports there have been "going concern issues"mentioned
It’s nonsense to suggest that discussions on their release preclude any value for the diamonds in the balance sheet. To attribute no value to them at all is either an offence, if the Directors believe they have a realisable value and that they will be returned to Vast, or an admission that the Directors believe they won’t be getting them back at all. I imagine the auditors have allowed their exclusion on the second of these assumptions.
Since VAST won the legal case in FEB 23 they have never asigned any valuation to te diamonds in any report or in any podcast
The 15mm. shares that Mr. Prelea acquired last year were, surely, the shares issued to him under the Company's Share Appreciation Rights scheme? They vested in May last year and expire at the end of 2025. Was he actually required to pay anything for them?
HE PAID FOR THE SHARES
I notice that the most recent Report and Accounts attributes no value at all to the “historic parcel”.
VAST HAVE BEEN TOLD NOT TO PUT ANY VALUE TO THE DIAMOND PACKAGE WHILST NEGOTIATIONS CONTINUE
Relative to the total value of its owners’ shares, Vast has massive borrowings which are due for repayment on 29 February, large tax obligations to the Romanian authorities and a massive negative annual cash flow. A company cannot go on and on like this. The Directors and the auditors pointed out the material uncertainty of the company ceasing to be a going concern respectively in the most recent half-yearly Report and in the audited Annual Report and Accounts. For all we know, Mercuria may have a better use for its money.
THIS MATERIAL UNCERTAINTY STATEMENT HAS BEEN IN THE PAST 5 ANNUAL REPORTS
"The simple fact is, their debt is triple their Mcap (which is questionable at best) for investors that either means voting for massive dilution or pressing the spin the wheel button."
wrong again.
market cap is £4 million. Debts are not £12 million at all
They are $9.4 million which is about £7 million
Noteven double the market cap
I agree in part nevergonna but the reason why they are doing all of this is because they have failed to reach an agreement with their Creditors. Therefore they are going to have to dilute to pay them off and not just a 'lights on' raise as usual. The fact that the NOMAD appear to have washed their hands of it scares the hell out of me as the only times I've seen NOMADs do that, it's ended in disaster for the company. What's the chances of the NOMAD resigning and the stock being suspended before the GM? It might be for the best if they did as it would stop an awful lot of negative manipulation
Failed to reach agreement with their creditors ? what are you talking about ?
The creditors keep agreeing to rollover their debts month after month.
Nomad have washed their hands with VAST ? what utter nonsense
Restructuring of debt relies on dilution after consolidation and a loan for equity from the Swiss company is being offered by a further placing at 0.1p when after consolidation the price will be 0.45-0.6p with nothing stopping the Swiss company from selling those shares after the deal has gone through
WRONG
Any placing to the Swiss company will be a higher price that the current price (0.105p) after consolidation
"Restructuring of debt relies on dilution after consolidation and a loan for equity from the Swiss company is being offered by a further placing at 0.1p"
Wrong.
This is what the RNS said when the shares were 0.105p. I have put in capitals the word HIGHER so you don't miss it
Subject to the completion of the first sale under the Platinum Group Metals Agreement the owner of the Swiss investment Company owning the high grade PGM concentrate has indicated a firm interest in providing major restructuring finance to the Company, partly through debt and partly through equity to be issued at a HIGHER price than the current share price.
"However, once the consolidation itself takes place, it seems to me the share price, which ought to be roughly six times the current price, will weaken considerably. "
Why would the share price weakne quickly ? you trolls clearly have an agenda
Diamond news , restructuring of debt with the Swiss company (placing at above 0.1p says the RNS) will blow the shares northwards
The email I got from VAST was about the historical parcel. There is no other historical issue that VAST refer to
"How are they going to raise more than twice the current market capitalisation in a new share issue at anywhere near even the current share price?"
They won't raising what you say.
In order to show good faith towards repayment of the Creditors and to provide a possible solution to the Company in the unlikely event of enforcement of security in favour of the Creditors, the Company has agreed with the Creditors to request Shareholders for such additional authority to issue shares as will, at a margin to the current share price, enable the Company to raise up to US$9.4 million so that the Creditors can be repaid in full. The Company therefore is requesting Shareholders to approve the grant of authority to issue shares which, if issued, would raise sufficient to repay the Creditors should it be necessary to repay the Creditors by this method.
The Directors would like to stress that the authority is required in order to give comfort to the Creditors. With the near term prospect of receipt of the historic parcel and the benefit of current discussions with the owner of the Swiss investment company, and also with the expected rise of the Company's share price in the light of these developments, it is not expected that a material proportion of the requested authorities will be required in practice, or if required not at prices similar to the current share price