Member Info for Kewben71

So as VAST moves into Christmas what is on the wish list??

T2 sorted and 5.5mm funds
BP started utilising T1B
Operations improving through efficiencies established as new assets come in
DIAMONDS. Positive update
Possible additionally 1.5mm from T1B conversion
And a partridge in a pear tree?

Certainly by 31st Dec

Short term loans come at a price..... YES..... and that has been taken all upfront.....£170k plus 68 million shares.....

I don’t see an issue in converting these as long as the operations update, T2 news, BP movement or diamonds gives a boost to the SP to .0059.

I am firmly of the opinion that the first tranche from Bergen will convert.

My reasoning is
A) set up fee of £170k
B) 68mm shares issued
C) deadlines mentioned for T2B- beyond conversion of T1B

This effectively secured an additional 1.5mm funds. Even if T2 lands I think most believe there will be a need for another fund raise and some point in 2019. Dependant on the SP ( ideally as close to .0059 as possible)
If the SP isn’t substantially higher then take advantage rather than paying additional fees /wArrants on the next fund raise requirement????
Conversion of T1B at £0.0059 means 222 mm new shares (circa 4% dilution)

Okay if T2 news prompts an SP lift over .0070 then maybe not worth it but below that I would think AP will keep the cash ( why waste the fees?)

Re point 4. There is reference to proceeds from 68mm shares. Just not clear how the proceeds are calculated

1. The proceeds for the issue of the new 68,000,000 Shares and the
Convertible Securities will be used by the Company for long term lead
items on Baita Plai Mine, initial expenditure on the Heritage Concession
for diamonds in Zimbabwe and general working capital.
Okay so BP understood ...This funding allows these projects to commence immediately..... good to see reference to diamonds also.... wonder what cash is required there(to receive official confirmation

2. “ The second Convertible Security will have the
nominal value of US$1,575,000 and is expected to be issued within
approximately a week of the date on which the Company obtains authority
from its shareholders to allot Shares and to grant rights.........The Company
expects to seek such approval from the shareholders not later than 31
January 2019.”

Will be interesting to see how quickly they convene such a meeting for approval... if not convened by 10th Jan is the conclusion that T2 resolved and the second tranche from Bergen ( which I will call T2B) will not be necessary OR that AP is leaving it late and T2B will be needed ( and T1B will therefore convert)

3. Not sure why......
Company may elect to repay each tranche in full within 90 days
Doesn’t the conversion settle the liability to repay...is debt for equity??? Why on earth wouldn’t Bergen convert at first opportunity??

4. the Company has issued to the Funder 68,000,000 Shares at par to "collateralize" the investment.
So T1B gets a fee of £170k. What consideration is made to VAST for the 68mm shares?? This at these prices is worth over £200k. Is this an additional fee?? What does “At par mean” par to what?

Any thoughts on any of these??

It is in Bergen’s interest to have a low SP if their faculty converts. If it doesn’t then there are risks in such a play. AP could close T2 tranche and we could see a rebound as the Bergen facility is repaid. Official news and clarification on Zimbabwe diamonds with that news could give the SP another boost... of course they have a few shares to play with and can hedge. But at this point early in the 30 day period it does seem to make sense to short the company (YET)

Tigers assessment of potential dilution yesterday showed a potential 20% “worst case” with the drop on Wed and Thursday looks about right for pricing in bad news regarding the bridge facility.

Worse I guess is T2 isn’t resolved and the company hasn’t got 5.5mm but only the proceeds from the bridge. Diluted SP and still a need for additional funding.

Interims will give a bit of an update, later cash raises post period end. Confirmation of any draw on bridge. Production update ( nice to see stable?)

I haven’t got clear in my head about the release of the current charge due end of 2018 and requirement for new charge on the Romanian assets to support T2. Reference to cost to release, and subsequent charge back to Mercuria. Is this atop of the £5.5mm. Need to read again. If anyone fancies spelling it out for me would be appreciated!

Sure a loan shark will use all resources to push potential conversion price down but AP we hope has some ammunition. Formal offer from Marange. Progress on BP. Operation figures.

Interims will show so much. Additional comments will be interesting

Mercuria wants Romanian assets as a collateral.
We have to pay around $1.5m to release Romanian assets by December from SSGIand I think when these are released Mercuria will go ahead with T2 as it will be re-charged to mercuria. Deadline for this is 31st December or earlier
I have thought the last £1mm placing was towards this?
Perhaps they spent it on other requirements and now the need for the bridge

Makes a bit of sense
Certainly will be an interesting week and hopefully the T2 monies will allow the company some breathing room to get on with operations

AP using a bridge facility.
AGAIN
Last time worked well and paid off with minimal issue.
He presumably believes T2 will be resolved in 30 days.
Local administrative issues holding up. Any speculation as To what this could be???

As a backdrop potential positive news on Marange to give a filip to the SP but this is seemingly held up whilst official confirmation is released

T2 clears and bridge paid.
BP moving
Interims due in next 10 days

High risk indeed. Can AP manage?
It is feared not...

Good luck all. Took a few today as feel recovery will be swift if it comes. Happy to risk this. AP certainally testing the metal of his PIs.

Perfect time to consolidate , raise more.

Perfect time to consolidate , raise more.

We have pesky Nevada rock which doesn’t want to give up the goodies. YET

AW said he was going to sell.... so I expect continuation until he has a position he is comfortable with.

Each 6mm would suggest a TR1. So will see.

Wonder how that core is s getting on?

I sincerely hope you are correct. Just a feeling??

I think a point has been made last week.
Expecting some sells News would be nice

The company has hired a chief Geologist who specialises in copper and gold. He will be focussed on the M2 and M4 drill results and look to develop a strategy for the company going forward.
Sounds like a board who are aware they need expertise to develop and have acted accordingly.
Impact is of course a salary to increase the cash burn and I am fully expecting a few share options to sweeten his remuneration. Whether he is looking to purchase a stake at these levels. Who knows. Would be great to see an RNS stating he had.

M2 and M4 then looking at next stage. Likely funds will be needed at some point but I would hope the company is not considering raising at these levels.

M2ST core 042 has been slowly and carefully drilled. Ensuring all experience from previous drills is utilised. Sounds like a board who are cautious and aware that they should not replicate issues they have previously encountered.
2/3rds to targeted depth and update to shareholders ensuring transparent and keeping updated on the on going operations. Not great news, not the strike and cheer many would hope for BUT an update and met the criticism of lack of comma. Sounds like a board trying to ensure they have listened.
Although caution was posted regarding timelines it was by no means a failed drill. Still encouraged and focussed on completion. What the drill will unearth however is speculation.

Institutional investor in Sandersons holding 4%. Not sure what to make of this. Certainly looks like they are under water and I guess not happy. Will be looking to benefit from next placing I guess. Would have loved them to be buying at these levels but I don’t suppose that is their style. Perhaps they hedged?

The CEO spent £26k not long ago buying 2mm shares at £0.013p. This and the options they hold are seriously under water. Can’t see the board will want to settle for a loss on their investment

The SP reaction to the recent RNS was odd. Especially as it seemed that volume increased prior to release. Is this to be levelled at the board or others who were aware of the news. I do not know.

A significant stake held by AW who looks to continue to hold. Who has recently posted disappointment but also that will likely hold for the next few years. I don’t suppose there is any stakeholder in Gwmo who is not disappointed.
That all said the SP is at a beneficial price if minded to accumulate and I for one am happy to hold whilst the company works towards their targets. I understand and have some agreement with the criticism levelled at the board but believe they act with integrity and are striving to build value.

Watch with interest.
Kew

042 has been cased because of lessons learned on 041.
This is reason progress slow
Good ops.
Weather come in hard for depths. Day drill now only
Bad ops
100M left. Who knows whether can progress to depth before cold snap. But asked for comma and got an update. Funny it wasn’t what some hoped for and wasn’t rampy. But it was an update on the operational drilling that was demanded.

Would be nice to know what cash held
Would be nice to know strategy for next drill especially with new hire
Would be nice to know if any minimalist toon in 042 identified

Slow progress to get to Cu in fairly inhospitable locale. Who knew!!

Recent selling at these levels to be expected if holders think no chance, being had over by corrupt board or need cash
Recent buying to be expected if prepared to believe in potential results in future

I hold all mine and have recently purchased 2.5 mm new.
Average back down to 00.0052. We shall see

Clarification of expected. Tender to provide robust process for potential future action and transparency

No expected funding planned

Frustrated but compliant and confident in approach taken

SEPCO internal sign offs delaying not GoT changes to process.

Happy to hold. Disappointed with SP.

Are the mast shares due to list today?
A small matter of 5mm extra?