Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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
Drill data for Blueberry:
6.2M @ 1.99 g/t Au and 3.24 g/t Ag, from 47.6 to 53.8 m
16M @ 2.95 g/t Au from 190.0M to 206.0M
39 M @2.24 g/t Au and 11.47 g/t Ag, from 108M to 147.0 M
15 M @1.64 g/t Au and 9.44 g/t Ag, from 137M to 152M
0.5 M @ 9.83 g/t Au , 147.0 g/t Ag , 18.90% Pb and 32.50% Zn from 41M to 41.5 M
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 complet
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 .
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).
IDMOR i can understand your post pal , this was brought up at a GM where Vast was questioned exactly as you have put it. AP has stated on the record at the time of the podcast everything was still on track, and if i remember correctly BM stated up until the day before it was going through.
depends how you look at it i guess , You either believe that or not? . But i will say Ap and vast were dealt a blow to which they have had to deal with. Like you say its now crunch time and lets see what gets delivered.
Dodge i do not disagree, i feel were on the cusp of like you say transformational news. If Vast can pull this off over the coming period then period we will all be happy.
Dodge i need to be very careful unfortunately in my posts as some see them as a ramp , when in reality i am only making my opinions to a wider audience of investors who read this BB but do not input. These guys have asked me specifically to make my finding known which i try to do, like i have said were all in this together and we all want the same result which is for vast to deliver. Now i think we all agree its around the time when Vast need to get some projects completed and over the line and presented to the market. i would hate for some of these long term holders to get nervous with comments and sell out at a time when the SP is at nominal and the Upside as you just said is potentially "massive". all the best to every single investor big or small..
IDMOR , there is no reason sensible discussions cannot go without personal attacks were all in this together and are aiming for the same goal.
Yes 2 mines in 4 months ,
Mine 1 BP, as were are aware everything is still on track to achieve this via RNS info we have.
Mine 2 HC , when this is completed its a 3 month period into production ( its a very simple operation extracting alluvial and elluvial diamonds.) .
So like you say ,still everything to play for here with massive upside from here where the SP is trading just above nominal. I would not think we have long to wait to find out if Vast has managed to succeed in its ambitions, and like you guys im looking forward to updates where and when the company is in a legal place to provide updates and the Normad allows.
IDMOR , now there is a question for me my friend :-). My honest opinion is we are on the cusp of company changing news , my opinion!! some may agree some may disagree but as always i give an honest answer.
I would just also like to high lite the comments about the large trades been sells today and yesterday are incorrect , i have just explained they are Rollovers to the guys on twitter.
IDMOR if you saw it that i had come on the attack with you then i will apologise, that was not the intention and not how it was directed. I have been here a long while and understand peoples frustrations ( i share the same) but you need to understand not just me and you have so much money in here, but many others too. They will rise to constant negativity because like you and i want this SP up where it belongs.
Fantasy i dont disagree pal , all i am saying is lets see what gets delivered then move from there. We all have the same goal but different mind sets to get there , that's just trading .
Dodge selling a gold mine , do you not understand the issue with US$ been removed from Zim and the payment from Fidelity. Its virtually impossible at the present time to make any gold mining work in Zim imho until they change the payment policy, Exactly as they have done with the platinum and DIAMOND policy.
Like i am trying to point out today its easy to point out things because of the low SP , but a true understanding of why? when and how things are developing re Gold in Zim is essential to understand why PP was sold , that's not even considering that RP had leveraged all the ROM assets which was a big mistake two seperate entities keep it that way .
Ichi Thanks , I am not saying we don't need an official RNS update from AP. But what i can say is, i would like to think Vast will be working towards closing some of the deals eg finance , diamonds , ensuring BP operational this year. As we are at that stage or overdue, so news should be coming soon.
It’s not battle mode , it’s called understanding your investment and when people speak out with self opinionated comments that are unfounded sensible investment professionals will speak out . We’re all in the same boat but some seem to be hell bent on paddling upstream .
Read my reply , it clearly states let’s see what ap delivers . Remember boat paddling upstream :-)
Let’s hope so , but bashing a ceo when he’s hopefully about to deliver company changing news is wrong . Many companies look good via rns but underneath built on rubbish that inevitably fails , not the case with vast as we know as per rns and actions already taken by the Bod. Gla
IDMOR you say RP updated the Market?? Serious mate that's the reason we were in a mess as a business model (in my opinion) and AP has had to sort the **** out to ensure were built on solid foundations. No good building an empire on sloppy mud.....
Looking forward to the forthcoming announcements by RNS then we will see exactly where or if AP has strengthened the business, if he delivers the Heritage Concession 1 BILL $ asset, Finance £10 Mill , BP operational this year NAV of approx 80-100 MILL then this will be many many multiples of the current M/C.
We don't have long to wait i would imagine , but if there were any issues we would have known. I will keep buying whilst its down here where i can.
Fantasy , Vast will update the market through the correct channels RNS. As in Mullaney posts any other news is totally disrespected. Now as share holders we have asked AP and Vast to keep quiet until something is done and set in concrete, He / They are now doing this and still getting bashed. Now lets be honest this is all about the SP at the minute , and i understand that but constant negativity helps no one. We know Ap is working tirelessly to get the Finance and the HC so instead of posting for the sake of it because were unhappy with the SP is self destructive IMO. We all have the same goal here and that includes PI's and the BOD , so lets see what gets delivered and base our thoughts on that. Good luck all
Are you for real Fantasy ??????????????
We are on the cusp of a $10 mill Swiss bank debt facility, engineered by AP and the team.
We are on the cusp of a $1 Billion Diamond Asset been awarded, engineered by AP and the team.
We are on the cusp of a SRK report which should give a NAV of Rom assets in the region of $100 mill,engineered by AP and the team.
Who can deliver the above apart from AP and his team ?, May i suggest you think seriously re your actions and what you post here, your ideas will only bring further pain for investors (NO ONE WANTS THAT DO THEY?) . We have had enough pain restructuring Vast from this Historical mess up's, lets see what unfolds and hopefully we get news on 1 of the above very soon to settle investor sentiment in Vast.
Fantasy what is rhetoric here with your actions and posts?.