Member Info for leemorris

Suk agree but more to the fact its about getting the real story out to investors from other investors view point, after hours and hours of research and comms.
Thanks Lee

Thanks Sandy , just trying to put realistic honest perspective on Vast, I am comfy and happy looking forward to see what materialises.

4. Could you also please let Vast or EMA know this as I am sure with your information they could save themselves and us investors £250,000 and give us a maiden JORC Figure.
I look forward to your input and I will update all the exact drill data I have complied for Blueberry, please feel free to shout out rather than putting incorrect info to shareholders and looking for another negative spin. I must also say TBTT you are not alone in the miss use of information looking through the BB etc recently so many individuals miss quoting factual information, this is un-helpful to new investors and clearly defines hidden a gender’s by individual posters. I have called these individuals out in the past and I will continue to do so to give investors a true and honest opinion based on FACTS.

SUMMARY OF GM & COMPANY POSITION MOVING FORWARD ( my own personal opinion only)
1. Vast has had some troubled waters to navigate over the last 2 years, yes I am equally frustrated and have lost large amounts of Money during the process but when you dig down and get a good understanding of the Business along with the headwinds AP and the BOD have faced you become a little more understanding of the dire situation Roy Pitchford left this company in.
AP has made some mistakes over this period but he was a new CEO who has now finally got Vast in a position where his planning is now un- interrupted from Legacy issues, the future road map should be visible to all investors.
2. I thought the GM was positive by the BOD, they clearly have a vision to deal with the current situation to ensure vast will be successful in Mining the Diamonds and bringing BP into full production.
3. There is a dogged history within vast which has taken longer than anticipated to clear, but with the Focus heavily on sorting out the Balance sheets and Debt ratios of the company and some strategic planning I see no reason why the following should not happen very soon.
A, Final release by the Zim Gov stating we are now able to go mine the diamonds officially.
B, Final agreement of OT partner once the SSCG issue is resolved.
C, BP operational , my realistic time line for this is we will be fully operational beginning of September.
I hope this summary of my thoughts will help some of the investors who don’t have the time to perform detailed research in their understanding of Vast. All of the above is my opinion only and should not be used in any way as financial advice.

Diamonds are the single biggest GDP factor in the Zimbabwe recovery, for Ap to have struck this deal really a company changer ( agree once its signed sealed and delivered to the Market).
So the investor says yes Diamonds , but how do you fund them? , read my comments above regarding PP and it seems pretty obvious to obtain the funding final signing SSCG need to be out the picture. See the link to my Diamond presentation on the expected run rates and historical Diamond pricing. https://pbs.twimg.com/media/D1cryZ8X4AA-Ohc.jpg
4, AP was then asked about Eureka , its clear some investors don’t fully understand the situation with Eureka which we requires $30Mill capex. When you listen to the answer and investigate more, clearly the new policies in Zimbabwe are favourable to Diamonds , platinum , Zinc etc not gold production. ( this is all about the Zim $ and US$ which is not helping the gold situation in looking for finance etc. So my take on Eureka is that Funding will be virtually impossible and it would suck any profits from PP and be 3 years before operation. As an investor this asset is of no Value currently to Vast Resources.
5, BP mine discussion 11:35 -12.40 , the six months into production has already began this started soon as they had the guys on the ground , Andrew clearly states he is still focused on the 6 months but long lead time items which is subject to Financials Eg OT (these are the only reason I can see vast missing the 6 months ). listening to AP discuss his decisions during the timeslots11;35 -12;40 re finance etc ,I feel there has been some burnt fingers and harsh lessons learnt regarding be proactive rather than being a fire fighter, we have had some disastrous funding options taken over the time in Vast and I for one am happy with the attitude of the BOD towards this issue.
6, Pre payment OT , Nothing has changed we are still in discussions and the list of OT candidates is growing , It’s about what is best for the business long term not just jumping because it suits now.
AP knows the OT is critical for Vast not least a big answer to short term cash problems, I guess we sit back let this unfold because it doesn’t seem long before we will be updated via RNS.
7, Manailla is currently on shut down and restart operations in March as per previous comms.
That is the GM covered , all feedback appreciated .

Bulletin Board – Twitter – Telegram
Tiger By The Tail , I read your comments regarding Blueberry on the BB, could you please clarify and back up with evidence that Blueberry. You Quote “We have seen the drill results for Blueberry. They are very ordinary and do not suggest a commercial gold deposit - and I know of what I speak here.” ,
From your quote Blueberry is not commercially viable , could you please tell me how you have worked this out?
1. Do you know how many samples have been taken so far ?
2. Do you know what area has been drilled of the total Blueberry area for exploration ?
3. What is the ave

. Now look at this realistically how was Eureka ever going to be up and running in that timescale , Eureka needs an injection of Capex to the sum of $30 Mill we own 23.7 % which would be a cash injection from vast of approx $7mill. Where does that sort of investment come from within Vast? Precisely NO- WHERE.

My opinion on the matters regarding the relationship between SSCG and Vast resources is that as soon as this partnership could be ended it should with immediate effect. WHY? You ask?
1, Vast has never taken a penny out of the PP gold mine , the relationship and the way the deals are structured seems like vast is a small incubator to develop the assets for SSCG with our % of asset ownership. Eureka was obtained after it was shut in 2000 for economic reasons (Gold price etc) with our interest enough to ensure that once PP had moved onto the sulphides and Eureka was starting its capex expenditure would come straight from PP with a % buy in or dilution. The same story will then migrate over to Giant Mine where future capex will be on the same terms, fund your % or dilute you.
If you listen 3:50 - 4;30 you will hear my thoughts echoed through AP. https://www.youtube.com/watch?v=LPJ0Npario4
It does not take Einstein to work out as per the GM that these discussions are now priority for the BOD. We need debt finance for the diamonds and BP , we need our new OT announced but with the strangle hold of SSCG this is difficult. I personally get the feeling that we need to sell our reaming share in PP, which would allow vast to:
Free up the Romanian asset base , allowing BP , Manialla and Zargra as security.
Open up any future financing without giving SSCG first refusal.
REMOVE THE $40 MILL DEBT ON THE BALANCE SHEET ( this is not a vast debt but intercompany loans etc, but is shown on Vast balance sheet). This will then open the door for institutions and cornerstone investors.
ALLOW VAST TO MOVE ON THE DIAMONDS ALONE WITHOUT SHARING THE CLAIM WITH SSCG.
AGAIN THESE ARE JUST MY THOUGHTS ON THIS ISSUE, IT WOULD BE INTERESTING TO HEAR THOUGHTS OF OTHERS REGARDING IF WE SHOULD SELL PP OR NOT.
3, Ap was then asked about the Diamonds and would we be in the same position with our profits ?, Clearly as per the answer Diamonds its totally different and new offshore accounts are been processed and vast is in the process of this which would allow vast to use the profits freely as they wish which is new rules stating a minimum 50%.
“ the ability to move funds out of Zimbabwe for Diamonds is very Fluid” ,” as and When the Diamonds come through we will be in control of our own destiny”.
My thoughts so far on the Diamonds are, We a strategically placed with Chiadzwa Community Trust (Red Mercury) to take full advantage of our new heritage concession, Vast has demonstrated to the Gov and the community trust that value will be transparent and shared with Red Mercury community through funding schools etc with real benefit to the community. Diamonds ar

two resolutions. A very important point in having to selected Bergan, for Vast it was impossible to get non convertible debt funding as we had to give first right of refusal to SSCG and they get 60 days to decide.
2, Ap was asked directly about why don’t we just get a loan instead of issuing shares etc .Andrews answer back is yes Debt is a possibly so was equity, listen from 2 mins in until 2:59 mins. https://www.youtube.com/watch?v=LPJ0Npario4
BUT if you break AP’s reply back to the investor you will clearly understand there is clear reasoning for Vast having to go through the funding channels it has had to take over the last 2 years. AP stated clearly that there have been some historical legacy issues that have caused the problems over the last 2 years gaining proper debt financing; the BOD is now in discussions with our Financiers and strategic partners to get the Balance sheet issues corrected.
For those that have looked at the company balance sheet will have seen the $40 Million debt, for me this is where the misunderstanding amongst some investors sit!! How on earth would any private equity, Debt funders cornerstones look past this, clearly they wouldn’t hence the reason for the struggle to find real debt within the Market.
After listening in detail it’s clear to any investor of Vast that the SSGI deal which we sold 25% for $4Mill was like putting vast in a straight Jacket. (Now this is a clear legacy issue of the old CEO Roy Pitchford). See link for explanation of this deal as per RNS. Part of the deal also entailed a $4Million loan with scheduled repayments over 4 years which without the ability to take money from PP or without BP operational this would be impossible to service.
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/non-convertible-debt-facility---disposal-of-non-controlling-interest-in-pickstone-peerless-gold-mine-and-giant-gold-mine-to-raise-us-8-million/20170130080033H4211/
When you break the deal down this was always going to be an uphill struggle to get finance. SSCG as part of the agreement covered themselves in the following thanks to a shocking deal by RP.
1, SSCG hold security against all the assets held within Romania, (this makes dedt financing against these assets impossible, and you cannot secure any debt against these assets because of the SSCG security)
2, SSCG hold securities for first right of refusal on any future funding, ( basically if Vast went to the market and got any finance approval SSCG would have 30 days to match it) proof as per RNS https://www.investegate.co.uk/vast-resources-plc--vast-/rns/matching-terms-for-us-10-million-investment/201708180700033462O/
On 20 th April 18 we obtained a 23.75% interest in the Eureka Mine , Months later through NON Vast news channels we heard this would be operational within 3 months or so. Many questions during General Meetings have been raised about Eureka and the thoughts it will be up and running generating cash. Now look at

All Vast investors
After attending the GM on Monday and meeting some of the other investors MB, Sammy , Fools Nightmare and others , it was great to get some of the thoughts and feelings re- Vast and interpretations on the company strategy etc moving forward and historically.
I will share those thoughts and what was said in the Gm, but also reading the BB and other social media posts there are some people clearly on a mission here to disrupt shareholder sentiment. Unfortunately I will be asking some of these posters to quantify their post’s with facts, it is super important that the correct information is available to all old and new investors. It will not all be positive (or we would not be in this position) but it should be factual and a clear understanding of Vast and the intricate navigation AP and the BOD have and are still having to perform to ensure clarity and vision to grow the company.
Fools Nightmare. Thanks for your update on the BB after the Gm really appreciated, but we must also say that some of the information you quoted were informal discussions in small groups and will have been top level group discussions that could be interpreted in many ways with personal opinions attached. This is important again as the negatives will cling onto this and cause disruption where possible.
General meeting.
The feeling of certain individuals on social media and individuals who have contacted me with concerns, that they were not filled with any confidence from AP and the BOD. Each investor has their own interpretations of positivity and negativity, but when broken down here are my thoughts and opinions on the GM and near team goals of the BOD.
1, Resolution votes. During the meeting it became clear that many investors thought the resolutions were for more headroom allocation. The fact is that these resolutions were not for further or new head room these we solely re application of prior granted headroom. Bergan were paid of using the pre approved headroom for General working Capital as per General meeting, see link for confirmation of this:
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/letter-to-shareholders-and-notice-of-general-meeting/20190115070000H4046/
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/termination-of-convertible-securities-issuance-deed/20190222070000H9226/ (Bergan Paid RNS)
So with the passing of resolution 1&2 on Monday, the BOD now have not got back their headroom for General working cap, progressing B.P and Diamonds etc. My concerns are the understanding of this amongst some investors, Bergan was a stop gap to fill Merc which unfortunately never materialised ( whatever reason , we need to accept and move forward as a business) the BOD then acted correctly in removing the threat of any further death spiral from Bergan IMHO. Now if headroom is required to help deliver the Diamonds and progress BP to production in 6 months then I am highly delighted with the passing of these two

https://audioboom.com/posts/7176043-andrew-prelea-ceo-of-vast-resources-and-russ-mould-from-aj-bell

https://audioboom.com/posts/7176043-andrew-prelea-ceo-of-vast-resources-and-russ-mould-from-aj-bell

White shirt blue jumper , second row pal

Thanks Latino , we need to ensure we get rid of the rubbish that is spoken on here solely to damage the sentiment.
You guys know I like healthy factual debates because that is what helps investors make decisions, not the posting of utter rubbish .

To all shareholders who have spoken about the GM I would like to set the record straight yet again , I was at the meeting and also recorded it .
Let me clearly state , AP did NOT say his family where buying at these levels at all , In fact he stated as did RT they bought much higher in the .6 range . So can all the scare mongers and seemingly people going out the way to discredit vast and AP please ensure they have factual information.
Secondly during the meeting it was never said they will not raise at this level , what was actually said was they would only raise at this level if it was necessary for the business based on timing . Now in my opinion it does not take Einstein to work out that is the Bergan timing issue .
So again everyone let’s keep it factual and take personal agendas away from the situation, 3 times in the last week or so I have had to provide facts to people with agendas on this bb until they stopped posting incorrect facts . , I will continue to back up my post with facts until those people realise we are an educated group of investors who will not sit back and let such nonsense be of any detriment to our investment.
It was great to see so many at the GM and meet genuine investors who care about their investment, maybe more should do the same and come away with facts .
Lee

FTB. No they are ring fenced for diamonds only . Hope this helps .

Rob , unfortunately what you have stated is incorrect AP cannot use 2 billion shares willy nilly, . The resolution 1 which was for 2bn was duly passed today , resolutions 2 which was also passed means AP (vast) have to use the 2 billon only on the diamond claim , but with resolution 2 he can go straight to finders and issue the headroom without offering it to shareholders first .
This is because of the disapplication of pre exemption rights . So it is ring fenced solely for diamonds .

4kandles Teacup was never abused by myself , in-fact quite the opposite. He requested info on BP which i gave , i then asked for the same from him regarding his comments today.
I notice his posts have been removed!! so have mine , i am all for open sensible discussions and opinions and will talk to anyone who places facts rather than forcing opinions.

No problems Teacup , glad to be of assistance

Hello Miz , unfortunately I have no idea when we will get the answers. The QA is critical in my opinion with the resolutions in the GM , we need the information as shareholders to make the correct calls for our investments .

Fhp all questions were compiled and submitted to st brides on time as I promised .

Teacup and all posters who posted during the disagreements over Bp asset class , having read all the arguments and tea cup asking for evidence . I have been through lots and lots of historic announcements regarding this and came across a copy of the 2014 AFCR Romania presentation and found the following snippet that will finally put this debate to bed .

1.2 Ore reserves
The Romanian National Agency for Mineral Resources (ANRM) has published the following Resource of 1.88 million tonnes at a copper equivalent grade of 6.2% or gold equivalent grade of 10.7 g/t (Russian Reserves and Resources Reporting System). At current processing capacity of 120,000 tpa, this gives a 15 year mine life. The Resource is confined to the Antonio 1 ore pipe and comprises ore panels within the current mining areas on levels 16 to 18, plus depth extensions to approximately 130m below the base of the mining (Level 18), down to about level 21, according to AFCR consulting geologists (personal communications with ANRM staff).
Romanian estimation methods are estimated in the A, B and C1 in-balance classes in the Russian Reserves and Resources Reporting System, which are approximately equivalent to JORC Measured and Indicated Resources. A brief explanation of the system and a comparison with other international standards on the Russian Reserves and Resources Reporting System is included as an appendix.
There are likely to be tungsten-molybdenum credits, but they are undefined at this stage.

Category A The reserves in place are known in detail. The boundaries of the deposit have been outlined by trenching, drilling, or underground workings. The quality and properties of the ore are known in sufficient detail to ensure the reliability of the projected exploitation.
Category B The reserves in place have been explored but are only known in fair detail. The boundaries of the deposit have been outlined by trenching, drilling, or underground workings. The quality and properties of the ore are known in sufficient detail to ensure the basic reliability of the projected exploitation.
Reconciliation of Russian and International Reporting Systems `
A broad equivalence between the classifications may be presented as:- Russian International reporting Code, JORC, etc.
A,B Proved Reserve / Measured Resource
C1 Proved or Probable Reserve / Indicated Resource
C2 Probable reserve / Indicated Resource / Inferred Resource
Category C1 The reserves in place have been estimated by a sparse grid of trenches, drill holes or underground workings. This category also includes reserves adjoining the boundaries of A and B reserves as well as reserves of very complex deposits in which the distribution cannot be determined even by a very dense grid. The quality and properties of the deposit are known tentatively by analyses and by analogy with known deposits of the same type. The general conditions for exploitation are known.
Factual evidence, BP is a monster guys !!!!!!

ee Morris Q & AToday 12:15I have not posted for a while due to being out of the country, but seeing what has gone over the last few weeks I cannot sit back without some answers from AP and the BoD. I have been in contact with St Bribes today and asked for a specific QA session on the current state of the business. I have asked these questions be put to the board and request that they update the shareholders with specific and honest answers. We have supported Vast throughout the years and shareholders need to keep their voice, so I would like to run a QA on specific questions that you guys may have that are on point with the current situation AP and the BOD of Vast find themselves in.
I will be accepting emails and questions on the following address leevastacc@outlook.com i will be closing the QA questions at mid day tomorrow so we can get some answers by Thursday which may help us in our decision making as towards the resolutions submitted for the GM. Thanks Lee Morris