Member Info for leemorris

Fantasy , we obviously have a difference of opinion on vast moving forward which is fine. But we both bought into vast because we think or thought it was a good investment, True?.
Our opinions have diverged significantly during this roller coaster of a ride , it seems some including yourself are continually looking backwards (which is fine if you want to take this outlook) but others like myself can see what is being achieved and the vision moving forward after the terrible mess locking up funding and assets ect by the old CEO RP. For the sake of it lets see what happens over the coming period then we will see who has made the correct call. I am mature enough to accept your stances regarding vast , lets keep it mutual and see what happens?.

Ha Ha Fantasy , My standards have fallen :-).
Think about the way these guys and yourself are acting on a daily basis, constant moaning about the past in Vast. Now Vast investors are looking to the future and if you guys are not happy then the only logical solution is to either sell or ask questions face to face with the people who run this company. ( i fully understand some of the comments but what i dont understand is the constant reiteration of the same things, if you have a problem get it answered)).
No matter what intelligent posters put on here they cannot give you all the answers you so desperately need , so going over and over the same things is not helping anyone at all. SO like i say go speak to the BOD ....

Dodge , VJ11 , TbTT .
I suppose we can expect to see you at the next GM or AGM of vast, your all constantly seeing and stating negatives. Now surely someone who feels that bad about AP and Vast would either sell up or attend and make themselves known and bring up their disappointment , this has been going on for months with you guys and you have had plenty of opportunities to do this but elect to resort to constant outbursts on here. I think that says it all .........

Dodge its in the UK , Wrong again it would seem !!!!!!!
TbTT you are invested in BOD obviously , you will know that BOD have been working on the Thorny river diamond exploration since 2016. If any company had been working on it this long and returned a 1 off 8% return(which is what their stake is worth on the diamonds in the RNS) on the first find which equates to a minuscule amount. Investors would not be shouting about this , i guess the market worked that out hence the drop in SP on this news.
I am not hear to knock BOD i think they are a good company but your comment about Vast and Bod racing is silly .
All my opinion only.

Hi Opti . I am still here reading posts that investors place on the BB and chuckling away at some of the dire attempts to put negative spin on the Swiss Bank.
Firstly if there were any issues we would have to be notified as per Aim rule 27!! Have we had any notification ? NO.
So everything that has been posted regards the Swiss bank is utter nonsense, We were informed everything is going to plan and they are looking at more financing options.
Quite simply Vast have been active in seeking further avenues away from the Swiss bank , in-case there are delays OR A BETTER FASTER DEAL BECOMES AVAILABLE.
Investors slated AP and Vast over Mercuria and not actively seeking others, he has done exactly what the investors wanted and its still not good enough. Look at the posters history and decide for yourself the way they portray Vast and their outlook , see if its backed up by any RNS announcements? You will find the answer is NO.

A few buys coming in this morning ,Lets hope some new investors are seeing where this is heading and realising the potential of Vast. Restructuring is completed and a clear path into production for BP this year has been announced , anything concrete on the Diamonds will generate some serious interest with the announcement of the term sheet already in hand for financing them..

Ha Ha Daz nice 1 pal, enjoy your weekend everyone.

Investors here are my thoughts on the recent announcements of Vast, Namely the last 2 RNS statements.
I have identified the way I feel the business is growing and how I see that the events unfolding. This is not a Ramp or a De-ramp, it’s there for the investors who have contacted myself asking for my thoughts. Take away from this what you feel but it’s an honest opinion of my investment in Vast and what I believe is happening and the way the company is developing.

28th May 2019 “RESULTS OF GENERAL MEETING AND CORPORATE UPDATE:

1. Vast has engaged with SRK Consulting (UK) Ltd. to prepare Scoping Studies, Preliminary Economic Assessments and/or Preliminary Feasibility Studies, as may be appropriate, for Baita-Plai, Manaila, Carlibaba and the Carlibaba further extension with the intention of enabling independent evaluations for those assets, which will further highlight the potential of the Romanian portfolio.
1a. This statement in my opinion has been massively overlooked or the effect of this has been misunderstood by many investors. Many investors have stated “This is because there are issues with the Swiss Bank”. How and where has this information come from to make them think this way?. Again people pressing their own self destruct buttons because of the historical issues in financing, I fully understand the mind set of investors, but historical finance is not connected in any way to the Swiss Bank deal, this is the first of its kind for Vast (Bank Debt Financing) and if there were issues Vast would have to update the Market.
LOOK what’s written!! SCOPING STUDY, PEA, PFS..These will give Vast a true independent valuation based on NET PRESENT VALUE, this information will be taken from all the drill core data and samples received on BP, Manaila, and Carlibaba extension with financial modelling done by Paul Fletcher .
In my opinion I would expect the outcome of the valuation to be somewhere in the region of $80-120 Million, current MC of vast is approx $10 Million??? That to me indicates a clear disconnect between the NPV ( Romanian assets only) and the current SP??. I have not added any value for the Diamond claim because that asset is not booked to Vast at the present time. Looking at the next paragraph regarding Carlingford, you will see clearly how I have engaged my thought process.

2, The Company has retained a specialist natural resources debt adviser, Carlingford, a division of GFI Brokerage Ltd., for the purposes of assessing debt capital for Vast's continued development. It will also assist the Company with the structuring of the loan finance from the Swiss Bank, which has given Vast a draft indicative term sheet containing the material indicative terms for loan finance of up to US$10 million (the "Swiss Bank") (as announced on 29 April 2019).
2a.The funding from the Swiss bank is being managed and concluded by Carlingford, these guys are experts in proper corporate Banking financing .Take a look at http://www.gfigroup.com and here is their impact statement
“Carlingford is a commodity structuring and advisory business working with clients across a wide range of products globally. We are transaction focused. We help to arrange the finance, hedge and execute solution-based requirements for commodity clients. Our unique process allows you to achieve price competitiveness and effective deal execution. Carlingford's knowledge and extensive experience in the global commodities market allows for the development of clear solutions while delivering an integrated advisory and arrangement service.”.
This is not a Tin Pot company taking on the Swiss bank Debt Funding process & in my opinion Carlingford will also be liaising with Debt Capitals in their contact list. They will be looking to bring in further investments of Debt Capital as the assets develop.
Putting the 2 statements released together a picture of what AP is doing is starting to unfold, if you understand how these things work. All it takes is a little research and analysis to get to the nuts and bolts of how these things work.
Vast have never had a true valuation done on the Romanian assets, this is due to the Hugh expense and the time scales of producing a true PFS. Ask ourselves how many times have we as investor moaned at the valuations from Brandon Hill etc??.
Quite frankly they added Zero value to Vast, unlike the set up vast has undertaken to ensure we have a true and independent valuation of our assets. Now in my opinion this is a necessity for all Institution or Family officers to come onboard, I would expect this report in the next 4-6 weeks (give or take a little) then those serious Institution & Family office’s could quite well be coming on board. Remember with a NPV of $80-$100 million and a M/C of $10 Mill,with the SRK report giving true Data for the mines and a reflective valuation I expect them to be taking big chunks.

3, Due Diligence with the Swiss Bank is progressing.
3a.Clearly there are no issues with the Bank Debt Financing , because if they were this would have to be announced as per AIM rules. All investors who have said there are issues with the Swiss Bank, its there in Black & White there is NO issue.
4, The Company is also in possession of an indicative financing term sheet in connection with the Heritage Concession in Zimbabwe and further indicative term sheets for this project are expected shortly.
4a.Can Vast come out with this comment if they don’t have a term sheet ready? NO.. So once the granting of the Heritage concession we have funding in place. How can this be a negative? Funding completed as per indicative term sheet sorted ahead of the project never heard of within Vast.
5, Discussions towards finalisation of the contract in relation to the Heritage Concession are progressing well. Additionally, the Company is pleased to see the change in government policy which has resulted in the cancellation of the country's indigenisation laws for diamonds.
5a.Go back 1 year and the DIAMONDS were not even on the Radar, AP and Will Maybeley & Mark Mabhudhu have done a brilliant Job in putting vast back on the Radar for Zim Diamonds. The work that they have performed within the community and the expertise we have along with our approach towards the Zim Gov is testament to the team that AP has Built out in Zimbabwe..

RNS: 30th May 2019 “SUBSCRIPTION TO RAISE £900,000 BEFORE COSTS”
1, “As announced on 29 April 2019, the Company has received a draft term sheet containing the material indicative terms from a Swiss bank for a loan finance of up to US$10 million. This is to be applied in connection with the Company’s Romanian projects including full repayment of the US$4 million plus accrued interest by the Company to Mercuria. While due diligence on the provision of the Swiss bank loan finance and/or any equivalent (the “Loan Finance”) progresses, the Company plans to incur some of the necessary pre-production expenditure for Baita Plai in advance of the receipt of the Loan Finance. This will significantly reduce the lead time up to commencement of production.
The pre-production expenditure will include the commencement of the installation of a seven-kilometre tailings pipe to the tailings dam and, as is required in the Company’s licence, the installation of a new and independent electricity supply at Baita Plai in addition to the supply the Company has already installed. Expenditure will also include the cost of the independent report from SRK Consulting (UK) Ltd as mentioned in the Company’s announcement of 28 May 2019. The money raised from the Placing will be applied for these purposes plus for general expenses at Baita Plai and for general corporate purposes.”
Yes I agree we all not happy with any placing, this is not just a Vast issue but its AIM. But sometimes they are a necessity to advance production. We have had a clear mandate what the funds are used for and why this decision has been taken. Whilst like I say I am not happy with the placing, taking my emotions away and looking from a Business view this is 100% the correct move. Vast has been starved of free cash flow mainly due to the legacy issues and the transition from explorer to producer, mistakes have been made I agree. Vast has been hugely criticised in the past for this, I know some strategic investors have had issues with the free cash flow problems at Vast. These are now been addressed and the company is ensuring that by Christmas BP is operational and generating revenues,

Above is a summary of the recent news as I see it, my View may be totally different to others but it’s an honest indication how I see what Vast are achieving. Vast has transitioned from Explorer to producer in the past, looking back mistakes happened the way some of the partnership deals were set up which have come back to bite us, namely Pickstone Peerless. That was the major cause for the recent restructuring that Vast has just had to undertake. This is now in the past and restrictions placed upon us the way the deals were set up have now been released. Finances consolidated, Vast has a short term focus on delivering BP and completing the Heritage concession. Finance for these two major projects is in either advanced stages and in the form of Term Sheets. I look forward to the completion and production at both these cash generative assets coming on line. It has been a very tough ride investing in vast but my honest opinion is that we are now on the cusp of completing all the above and motion is in place to build a very successful company. I fully understand investor’s positions at the moment and yes we are all at significant losses, but for me the future is bright and I have not come through all the pain not to be here when this company is succeeding in the very near Term. Hope some of the investors who don’t get the time to spend hours researching can get some true feeling of where I feel vast is heading. Good Luck

Your welcome Sandy , I stumbled across it so I thought I would share with everyone so we can all get correct info sent direct to our emails .

Gk I agree we have missed some deadlines , but also there has been some significant company building milestones hit . I fully empathise with the mindset of many investors in Vast , but I thought I would share my thoughts which are gained from hours and hours of research and attending every meeting Vast hols and communicating with all the bod members . That way you get a better understanding of what Vast are achieving, we have lots of potential news flow to come in the short term and I will be measuring AP and his team on that performance. The history is to cloudy for me to judge on with the transformation vast has gone through. All the best everyone and hopefully we can look back in the coming months and realise this has all been wort it .

On a side note has anyone noticed the new subscription for newsletters on the Vast website.I have Just filled mine in and got myself on the Vast mailing list , take a look and fill you email in its easy. Here is the Link, just click news and subscribe to newsletter. https://www.vastplc.com/news/ Get what info you can it all helps in decision making..

Ha Ha Daz, a bit of humour never goes a miss.

Elcap it is how you view things subjectively as individuals, i don't disagree we have broken more eggs than needed at some points but also there is a hugh transformation that has taken place. I look at it from the view point whats a couple of broken eggs if my omelette is going to be amazing when cooked?. In real terms if the assets are valued at NPV 100 MIll + in Rom (which personally i thing is a low ball valuation) and then the Heritage concession comes online ,what is a couple of eggs. Any other Mining company would have had to spend up-to 100 Mill just to get to our position.

Pepco i listened to the podcast yesterday and i think what your referring to is Andrews comment!, listening to it yes its not their main purpose. Andrew goes onto say with the SRK Data and Carlingford Financial modeling they can hopefully capture some II or Cornerstone investors as this was a requirement. But importantly for me is the approach vast are now taking , it seems Andrew hall and Paul Fletcher are working with AP helping Vast to succeed and were just starting to see the fruits of this. Hope this helps.
podcast Link : https://www.proactiveinvestors.co.uk/mediaFiles/stocktubeDetails/13529/vast-resources-raises-900k-to-accelerate-towards-production-in-romania-13529.html

Fantasy you have been here a very long time, i cannot argue with some of your comments in the past but in my opinion you are incorrect on the vision and the prospects of the company moving forward. I understand your frustrations along with others , this is a clear derivative from the SP and unfortunately vast have no control over that. But what they can control is the movement to bringing BP online this year, we have had clear indication this is happening and there has just been a photo update on twitter that shows real progress and accountability to ensure this happens. I have not even mentioned the Heritage concession, ill leave that until the agreement is signed. in my opinion people need true ,calm,detailed thoughts not frustrated posts as this helps no-one understand. I am sure soon as the SP realigns with true Value, investors sentiment will change.

Your Welcome Angus, i share your frustrations but the bigger picture is unfolding here before our eyes in my opinion. YOU CANNOT MAKE AN OMELETTE WITH SMASHING EGGS.