The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
BP MINE INFO
Mine hosts; copper, silver, zinc, lead, tungsten, gold, molybdenum, bismuth and antimony;
• Depth potential below the deepest Level 18 has only been drill tested for about 90 m – it is not yet certain how deep the skarn mineralisation will persist before being cut off by an underlying granite intrusion .
• The branching skarn geometry suggests the mine is currently in the shallow upper levels of the system and the deep roots could persist for at least several hundred metres – an old Russian hole in the 1970s indicated +350m from base of mine to granite.
• Orebody is zoned vertically with Au-Ag caps and Pb-Zn being richer at upper levels.
• Copper grades increase with depth from ~0.8% Cu near surface to >2% Cu below Level 18, with spectacular Ag and Au grades (200–2,000 g/t and 1–4 g/t respectively) associated with copper on thin veined contacts with the host dolomite.
• Antonio 2 pipe lies approximately 300m north of Antonio 1, both have good access from drives (galleries) down to Level 18 at Antonio 1 and Level 15 at Antonio 2.
• Postulated that the Antonio 1 and 2 pipes may merge at depth forming a substantially larger orebody representing a priority drilling target.
• VAST Resources has rights to mine polymetallic minerals (Cu, Pb, Zn, Ag, Au), molybdenum, bismuth,
“The mine benefits from full infrastructure including underground, surface and processing equipment and an EU registered and operational tailings facility”
• Skarn deposit comprising several veins in calcareous sediments in eight distinct pipes
• 1,800,000 tonne copper-silver-zinc-lead- gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area
• Unmeasured resources in other pipes and substantial exploration upside
• Significantly reduced the carrying cost of the mine by installing more efficient pumps, securing direct electricity supply, and reduced the staff count;
• Maintained access and safety of the underground workings;
• Restored important underground access areas;
• Cleaned the milling and flotation circuits to enable assessment of the remedial work required.
Here is a link to the BP mine presentation with Diagrams of Antonio and other pipes along with 3D mapping .
http://www.vastplc.com/wp-content/uploads/2019/04/baita-plai-polymetallic-mine-presentation-2019-.pptx
Here is some info that is available of the BP mine due to be in production this year. Any new investors or old investors take a good read, also breakdown the presentation on indicative production projections. My take is that once in production we will be receiving FCF of £800,000-£1m per Month. I will do the same for the other projects in the portfolio , which will help some new and old investors. The portfolio consists of :
1, Baita Plai Polymetallic Mine. (Pre production work advanced for operational this year 2019)
2,Heritage Diamond Concession, Marange. ( Numerous feeds of news on RNS , Zim Media etc , HC close to being finalised)
3,Blueberry Gold Project.( 29.41 % interest Free Carry & Management Fees)
4a, Piciorul Zimbrului (ZAGRA License area "License Granted",(Potentially the larges Copper deposit in Europe)
4b, Mâgura Neagra (ZAGRA License area "License Granted",(Potentially the larges Copper deposit in Europe)
5a, Cârlibaba Extension Project ( License obtained , ES submitted , plans for new processing plant between Manailla and Carlibaba)
5b, Manaila Polymetallic Mine ( Currently on C/M , Cost reduction MUDDA).
Exploration and production licences can only be transferred to other legal entities with the prior approval of the NAMR. Any transfer of licences in breach of such rule is null and void.
Lease/ licence/ concession term
Terms vary as follows:
Prospecting permits are awarded for a maximum of three years and cannot be extended.
Exploration licences are awarded for a maximum of five years and can be extended for an additional maximum of three years.
Production licences are awarded for a maximum of 20 years and can be extended for additional, successive, five-year periods.
Production permits are awarded for a maximum term of one year.
Could you update me on which part of the process vast are at?????
Regards Blueberry , i am in the same position as every other investor.
Piker , her you go again with your lack of knowledge within the Vast Resources mining sectors in Zim and Rom. Here is a link for you so you can read and learn, something that you seriously need to take on board if your going to post rubbish on here.
https://uk.practicallaw.thomsonreuters.com/7-566-1143?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1
Mineral resources are exploited by the award of concession or administration rights, as applicable (see Question 3). The following types of licences can be awarded for mining activities carried out under either concession or administration rights:
Prospecting permit. This is awarded on a non-exclusive basis, on a written request to prospect in a specific block, as established by the NAMR. The beneficiary must execute a minimum work programme, having a minimum value, both being established by negotiation with the NAMR on the award of the permit.
Exploration licence. This is awarded on an exclusive basis to national or foreign legal entities for the exploration of resources in a specific block. The beneficiary must pay in advance the corresponding yearly exploration fee. A guarantee must also be created for environmental recovery, according to the project agreed with NAMR.
Production licence. This is awarded on an exclusive basis to national or foreign legal entities for production activities regarding mineral resources in a specific block. The production licence may be granted directly to the owner of an exploration licence (following bilateral negotiations) for any of the mineral resources discovered within the block. The exploration licence owner must express its intention to apply for a production licence within 90 days from providing its final exploration report to the NAMR. Production licences may also be granted to the winner of a public tender organised by the NAMR.
Production permit. This is generally awarded to individuals or legal entities for the exploitation of a limited number of mineral resources as provided by the Mining Law, for example, moor coal and alluvial gold.
Dodge , here is your post from 28th August . Yes about 3 weeks ago , Investors make your own mind up about this persons motive but its pretty obvious to me....
DODGE POST 28/8/2019
As some of the information is available and then through accounts from Vast.
Vast have a SPV on Blueberry project where the RNS spelt out % ownership, payments and controls and if the project needs finance then it gets split down as per the RNS. Listing so far pushed back to the end of 2019.
Vast also have a SPV on the Heritage Concession with BOD on a 50% basis and contained in the RNS was a set of items for finance to start it up, HC SPV needed Vast to input £1m and then future cash would be split between the 2 and if either company didn't commit finance then weighted % would change. (I may have the HC mixed up with Marange, needs checking).
Zargra is so big and early stage, if Vast get the exploration licence then it would make sense
Dodge , here is a link from 27th Feb regarding Zagra final prospecting report. As a knowledgeable holder in Vast you will know the stages required by the ROM gov and the time lines involved, if you don't i suggest you read into Romanian Mining laws.
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/lodgement-of-final-prospecting-report-at-magura-neagra---piciorul-zimbrului-to-anrm/20190227070000H9921/
Obviously Blueberry has been pushed back , the company is aggressively seeking quick FCF and the HC and BP are the first port of calls , Blueberry has been fully drilled as per the RNS link below , yet again answers are there but you guys elect to push on with non informative Rubbish ..
https://www.investegate.co.uk/vast-resources-plc--vast-/gnw/blueberry-project-drilling-results/20190122133000H4965/
Angus your naivety is being shown in this post , how on earth can you value Zagra to its full potential ? Please inform us of your knowledge on what has happened at Zagra in regards to Sampling to give you your valuation. The only people who can put initial values are vast as they have the info, as the project advances so does the npv.
De watering costs will never go away , its an underground mine....
last placement for Zim strategic ( No update you say) . How can they update under NDA??? They will update soon as they can on Zim progress, but don't forget if it has cost a mill or so to get complete i would say that's fantastic a mill to secure a Billion $ asset.
We have had updates from Vast stating BP production this year, awaiting the final announcement on Finance.
Fantasy, i think Perroverde has said who do you propose could bring what you are saying AP cannot?? .( who else has Zim Gov and Rom Gov connections / Respect)
Also i hope you fully understand this process ? FYI your wasting your time , you need to be respected by posters to complete this sort of thing.
Well unfortunately for you and your little group this is dead in the water before it starts , the knowledgeable investors in Vast have contacted me regards this and i have 3 BILLION share votes who oppose you ( i have not even started with the smaller holders yet) . Remember you need respect from investors if you want help. You would be much better sitting back and seeing what gets RNS .
Dodge, yet another turn around . read the posts from this guys in the last 3 weeks you will see he is uber positive, where has that gone dodge ?.
They as you say have said they are under NDA, how can they update ? It is not Vast who decides when they can announce its when the NDA is closed. We will get an update as soon as possible , do you not think AP and vast would love to issue news?? Well isn't it pretty obvious they are doing all they can to close out the Deals and give the Market the news it needs.
Dodge you say we sold our Gold mine , WOW do you understand the Gold mining policies in Zimbabwe??? , Not to mention the total disaster Roy Pitchford caused getting us into bed with SSGI etc securing assets etc ( Now he is the 1 that F****** this company no-one else) , we would never have seen a penny because it would have all gone into projects and the amount of $$$ in Zim from Fidelity refiners makes it impossible at the moment to mine gold and make money in Zim.
OOOHHHHH but the 29.41% of Blueberry that vast own, who brought that for Zero Cost?? AP Did...... here is a link for you to look at regards Blueberry .
http://www.vastplc.com/wp-content/uploads/2019/04/blueberry-mine-presentation-2019.pptx
Here is some info that is available of the BP mine due to be in production this year. Any new investors or old investors take a good read, also breakdown the presentation on indicative production projections. My take is that once in production we will be receiving FCF of £800,000-£1m per Month. I will do the same for the other projects in the portfolio , which will help some new and old investors. The portfolio consists of :
1, Baita Plai Polymetallic Mine. (Pre production work advanced for operational this year 2019)
2,Heritage Diamond Concession, Marange. ( Numerous feeds of news on RNS , Zim Media etc , HC close to being finalised)
3,Blueberry Gold Project.( 29.41 % interest Free Carry & Management Fees)
4a, Piciorul Zimbrului (ZAGRA License area "License Granted",(Potentially the larges Copper deposit in Europe)
4b, Mâgura Neagra (ZAGRA License area "License Granted",(Potentially the larges Copper deposit in Europe)
5a, Cârlibaba Extension Project ( License obtained , ES submitted , plans for new processing plant between Manailla and Carlibaba)
5b, Manaila Polymetallic Mine ( Currently on C/M , Cost reduction MUDDA).
BP MINE INFO
Mine hosts; copper, silver, zinc, lead, tungsten, gold, molybdenum, bismuth and antimony;
• Depth potential below the deepest Level 18 has only been drill tested for about 90 m – it is not yet certain how deep the skarn mineralisation will persist before being cut off by an underlying granite intrusion .
• The branching skarn geometry suggests the mine is currently in the shallow upper levels of the system and the deep roots could persist for at least several hundred metres – an old Russian hole in the 1970s indicated +350m from base of mine to granite.
• Orebody is zoned vertically with Au-Ag caps and Pb-Zn being richer at upper levels.
• Copper grades increase with depth from ~0.8% Cu near surface to >2% Cu below Level 18, with spectacular Ag and Au grades (200–2,000 g/t and 1–4 g/t respectively) associated with copper on thin veined contacts with the host dolomite.
• Antonio 2 pipe lies approximately 300m north of Antonio 1, both have good access from drives (galleries) down to Level 18 at Antonio 1 and Level 15 at Antonio 2.
• Postulated that the Antonio 1 and 2 pipes may merge at depth forming a substantially larger orebody representing a priority drilling target.
• VAST Resources has rights to mine polymetallic minerals (Cu, Pb, Zn, Ag, Au), molybdenum, bismuth,
“The mine benefits from full infrastructure including underground, surface and processing equipment and an EU registered and operational tailings facility”
• Skarn deposit comprising several veins in calcareous sediments in eight distinct pipes
• 1,800,000 tonne copper-silver-zinc-lead- gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area
• Unmeasured resources in other pipes and substantial exploration upside
• Significantly reduced the carrying cost of the mine by installing more efficient pumps, securing direct electricity supply, and reduced the staff count;
• Maintained access and safety of the underground workings;
• Restored important underground access areas;
• Cleaned the milling and flotation circuits to enable assessment of the remedial work required.
Here is a link to the BP mine presentation with Diagrams of Antonio and other pipes along with 3D mapping .
http://www.vastplc.com/wp-content/uploads/2019/04/baita-plai-polymetallic-mine-presentation-2019-.pptx
Heritage Diamond Concession update:
Vast Resources plc, the AIM-listed mining company, is pleased to inform the market that following meetings that took place in Harare last week between Vast senior management, the local community leaders and the parastatal Zimbabwe Consolidated Diamond Company Ltd (ZCDC) a road map to closing the agreements that will enable the Company to mine on the Heritage Concession has now been established.
The agreements concerning the Heritage Diamond Concession will now be directly between the Company and the ZCDC rather than the local community, but the local community will be maintained as a beneficial recipient of shared profits as per the original agreement.
Andrew Prelea, Chief Executive Officer of Vast, commented:
“After taking part in the meetings last week with our senior management, the community chiefs and ZCDC, I am pleased to say that the timeline to closing the agreements will now be accelerated. I plan to return to Zimbabwe shortly for what I hope will be the finalisation of the contractual terms, and also to establish the commencement of the project.
“This amendment to the structure of the arrangement should not only accelerate the process to commencement, but should also provide the Company further opportunities to work with the ZCDC.”
Some calculations based on Information on Marange Fields recovery rates , Run rates etc.
GRADE RANGE
50-500 cpht , 100-200 cpht , 100-3000 cpht , Cpht = Carats Per 100/Tonnes , Average Price Per/carat $80
Let’s put some numbers together for the market and investors to understand the phenomenal scale of Diamond mining here with outstanding Revenues available.
Many sites available throughout the Marange Diamond concession obtained from Red Mercury . The following figures are based on running 1 plant !!! There is easily enough deposit areas to be running a minimum of 3 plants.
After looking at plant availability and estimated run rates from ZMDC, at full production I expect Vast to run at MIN 250tph. Potentially and quite possibly Vast should be running 3 plants at any given time.
Using average grade of 250 Carats per Tonne and the Average Carat Price of $80 per Carat.
Calculation for REVENUE:
250 T/ph x 50 Cpht = 125 carats x $80 x 22 hrs run time per day= $220,000 x (365 days) = $80,300,000 (Mill)
80,300,000 Revenue and using the ZCDC cost per ton of $28 gives an estimated PROFIT of $52,000,000 (Mill)
DON’T FORGET THIS CALCULATION IS RUN ON THE MODEL OF 1 LINE , MULTIPLY THE ABOVE BY 3 MINES
$52,000,000 Profit Per Line x 3 = $156,000,000
Taking worst case at 1 line =$52 Mill profit P/A
Vast current M/C £10 ,846,000 seriously undervalued on the Diamond claim alone .
Listen from 10 Mins in , confirmation Vast in talks over Marange.
https://m.miningweekly.com/article/mining-investments-in-zimbabwe-2019-09-05/rep_id:3861
BLUEBERRY
Vast holds a 29.41% interest in the Blueberry Project, a 7.285km² brownfield area of prospectivity in the Golden Quadrilateral located in the immediate vicinity of the now closed Baia de Aries mine. The Golden Quadrilateral has significant areas of polymetallic prospectivity (copper, zinc and lead coupled with particularly high gold and silver) and has been estimated to have produced approximately 55 million ounces of gold in the past. Also in the Golden Quadrilateral are Rosia Montana with a reported NI 43-101 Resource of 17.1 million ounces of gold and 81 million ounces of silver (SRK Consulting – October 2012) and Euro Sun Mining’s, Rovina Valley project with a reported 7.2 million ounces of gold and 1.4 billion pounds of copper (AGP Mining Consultants – NI 43-101 – July 2012).
Historic work across the perimeter area has demonstrated prospectivity for gold and polymetallic mineralisation with sample values of up to 22.4g/t of gold were obtained from historic soil sampling. A drilling programme and assaying is underway, which is anticipated to deliver sufficient information to support an Inferred JORC Mineral Resource for gold and other polymetallic minerals including silver, copper, lead and zinc in one or more of several distinct breccia pipes.
Vast’s interest in Blueberry is held through Vast’s subsidiary company, EMA Resources Ltd, which is intended to develop into a standalone enterprise significant enough to justify an IPO. It is intended that Vast will have management and control of the future mining operations at Blueberry, and also over the exploration programme and the IPO process in consideration of a fee equal to 10% of pre-IPO costs.
“A drilling programme and assaying is underway, which is anticipated to deliver sufficient information to support an Inferred JORC Mineral Resource for gold and other polymetallic minerals including silver, copper, lead and zinc in one or more of several distinct breccia pipes.”
Highly prospective brownfield in the heart of Romania’s ‘Golden Quadrilateral’ which has been estimated to have produced up to 55 million ounces of gold to date.
. A brown field perimieter covering a total of 7.28 km2 in the Golden Quadrilateral of Western Romania.
. Hosts highly prospective polymetalic mineralisation.
.Sample values of upto 22.4g/t of AU Gold were obtained from historical soil samples.
.Drilling programme and assaing underway, which is anticipated to deliver sufficient information to support an inferred JORC Mineral resource.
.Opportunity to advance subsidary which holds the project into a stand alone enterprise with iIPO targeted.
. Soil sampling programme completed and confirmed anomalous gold in soil values and extended and defined the target footprint in more detail
. Continued progress towards defining maiden JORC Compliant Resource Estimate targeted for completion once all assay results have been received
. Targeting the application of an Exploitation Licence when drill report is
PICIORUL ZIMBRULUI POLYMETALIC LICENCE / MAGURA NEAGRA POLYMETALIC LICENCE
PICIORUL ZIMBRULUI POLYMETALIC LICENCE:
The 10km2Piciorul Zimbrului prospecting Permit is located in the Zagra-Telciu area in Bistrita-Nasaud County of Romania and lies adjacent to Vast’s Magura Neagra licence. Following initial prospecting work Vast has undertaken a drilling programme focussing on six previously identified veins with associated copper and gold mineralisation along an underground drive developed for 820m at an elevation of 835m above main sea level. If the results are as expected this will enable the Company to apply for a full exploration licence.
Previous exploration activities, conducted by IPEG Cluj, the former state exploration company, included 1,200m of underground development and underground diamond drilling, along with 862m surface diamond drilling and geological mapping over an area of 4.0km2. Several trenches and pits totalling 238m and 3,484m3 were excavated on surface.
In addition to the six veins on which drilling has taken place, a further two veins with associated polymetallic mineralisation were investigated with an additional two veins exhibiting gold, silver, and antimony mineralisation, which were encountered in the underground development at an elevation of +950m amsl.
All the veins are hosted within Paleocene sandstones and the full extent of the veins has not been defined. Mention is made in literature of exploration activities undertaken in 1981 for disseminated porphyry copper in the silicified sandstones.
In addition to the six veins on which drilling has taken place, a further two veins with associated polymetallic mineralisation were investigated with an additional two veins exhibiting gold, silver, and antimony mineralisation .
http://www.vastplc.com/wp-content/uploads/2019/04/zagra-remin-presentation-2019-.pptx
MAGURA NEAGRA POLYMETALIC LICENCE
The 21km2Magura Neagra prospecting Permit is located in the Zagra-Telciu area in Bistrita-Nasaud County of Romania and lies adjacent to Vast’s Piciorul Zimbrului licence. Following initial prospecting work Vast has undertaken a drilling programme targeting sets of polymetallic veins together with areas of disseminated sulphide mineralisation the results of which are awaited. If these are as expected this will enable the Company to apply for a full exploration licence.
The mineralisation is associated with areas of intense silicification and is hosted within silicified sandstones spatially related to a quartz diorite.
Historical prospecting activities undertaken by the state exploration company IPEG Cluj during the period 1986-1993, identified five polymetallic veins ranging in widths from 0.30m-5.00m, together with an 800-metre-long zone of disseminated sulphide mineralisation which was intersected in an underground drive accessed by means of a surface adit (Gallery 47). The underground drives are developed from elevations ranging between 972m amsl-1,340m amsl representing a vertical extent or exposure of 368m.
A spatial analysis of the vein system, areas of intense silicification and occurrences of disseminated mineralisation may indicate the possible presence of a porphyry copper type mineralising system together with mineralised veins containing gold, silver, molybdenum, lead and zinc.
Porphyry style copper mineralisation appears to be associated with the vein systems, and with areas of intensely silicified sandstones with disseminated sulphide impregnations. Initial estimates, by the Romanian state exploration company IPEG Cluj, related to the porphyry style mineralisation, have indicated an exploration target (non-JORC compliant) of up to 3,000Mt of ore to a depth of 600m, at grades ranging from 0.4% copper (“Cu”) and 0.3g/t gold (“Au”) up to 0.8% Cu and 0.5g/t Au. The exploration team surmised that at a 10% conversion ratio from exploration target to a mineral reserve, the reserves may total 300Mt of ore and place it above the current operations of Cuprumin at Rosia Poieni.
The exploration team surmised that at a 10% conversion ratio from exploration target to a mineral reserve, the reserves may total 300Mt of ore and place it above the current operations of Cuprumin at Rosia Poieni
http://www.vastplc.com/wp-content/uploads/2019/04/zagra-remin-presentation-2019-.pptx
ALL POSTS OF MINE TODAY CAN BE VERIFIED BY THE FOLLOWING LINKS . Some great reading for anyone who wishes to look at the Assets that currently have and would seem were very close to obtaining (Namely the HC Diamond Concession).
http://www.vastplc.com/wp-content/uploads/2019/04/zagra-remin-presentation-2019-.pptx
http://www.vastplc.com/wp-content/uploads/2019/04/baita-plai-polymetallic-mine-presentation-2019-.pptx
http://www.vastplc.com/wp-content/uploads/2019/04/heritage-diamond-concession-presentation-2019-.pptx
http://www.vastplc.com/wp-content/uploads/2019/04/blueberry-mine-presentation-2019.pptx
http://www.vastplc.com/wp-content/uploads/2019/04/manaila-polymetallic-mine-presentation-2019.pptx
Very interesting interview 5/9/2019 listen from 10 mins in VAST mentioned within Marange diamond fields.
https://m.miningweekly.com/article/mining-investments-in-zimbabwe-2019-09-05/rep_id:3861
Dodge yes spot on HC is a company changer, tell me another share which is on the cusp of obtaining anything like this??? investors moaning because its been about 10 months , WTF companies spend many millions and never get anything like this..
Give it a rest please and sit back and wait for official announcements on all aspects HC, Funding ,SRK , BP etc then we will know exactly whats happening , no speculation by anyone.
Anyhow signing off for the weekend , be good and be safe investors . See you Monday enjoy :-)