Member Info for leemorris

WRONG , WRONG , WRONG yet again . Tiresome Dodge Piker

Dodge
"Mercuria have known about Manaila for some time as they would not have been getting the shipments, Mercuria cancelled T2 because Vast were not meeting their obligations, Mercuria now need warrants for 3-4 weeks??? Why?".

Mercuria never cancelled T2 because Vast were not meeting obligations, i have listened to every podcast and attended all meetings and this message has never come from the BOD. But lets not worry about that , the fact is Mercuria T2 was not expected to fall through but it did.

"If Swiss bank is giving out up to $10m to cover Mercuria T1 then speed it up without confusing with a GM etc.... Mercuria could have seen the term sheet and known they would be getting paid in 4-6 weeks (based on your times), Mercuria have already waited x amount of time unless they don't believe Vast or the board can secure the loan based on what they have seen previous."

Unfortunately with all the will in the World and after looking about most Term sheets take 4-6 weeks , as vast investors we should know this from the original Mercuria Deal for $9.5 Mill. So i agree that would be a good thing but unfortunately like i say we want Debt Funding and DD is an integral part of this.
I would think Mercuria have been supportive of Vast and i look at this as another positive, Mercuria want security only for their $4 Mill even though its a very short time i would want security same as any other investor would.
Why not try looking from this point of View ? in 4-6 weeks we will have completed all DD, term sheet will be complete and we have $10 mill Debt funding completed, pay back Mercuria lets say $4.5 Mill with interest, leaving Money to get BP operational (hopefully an accelerated program may come into play) .
Hope i have shed a different light on how i see it different to yourself pal.
Cheers Lee

Dodge , i really didn't want to get drawn into all the rubbish that is being spouted about , but seems thou i have been quoted by Fools and looking at your response i though i best just quickly update.
In the RNS yesterday we are quoted the following " indicative term sheet containing the material indicative terms from a Swiss bank for loan finance of up to US$10 million to be applied in connection with the Company’s Romanian projects including in full repayment of the US$4 million plus accrued interest indebtedness by the Company under the Mercuria Prepayment Agreement." .
How is see this is , as per the RNS a GM will be called to allow the raising of xxx number of warrants for Mercuria, this is blatantly obvious a SECURITY ONLY for the $4 mill we received as part of the pre-payment finance OT. That GM will take 2 weeks to happen once we are notified , generally the time scales for completion of requisitions on term sheets take approx 4-6 weeks. so in-fact what Mercuria a getting is a SECURITY for the 4 Mill. This is a very short term approx 3-4 weeks security that will diminish instantly they are paid out the 10 Mill Swiss bank debt Finance which has been quoted in the RNS. THIS IS NOT A DILUTION .I don't understand some of the thought processes of some of the posts , but hey ho what does it matter really ! personal interpretations. We have just had a Term sheet for $10 million Debt Finance , this is exactly what the Bod have promised and materialised. ON the point of why not secure against assets , well how do we know that the assets wont be secured as part of the new finance? . Assets can only be given as security once not various parties at the same time, Hence the reason the importance of getting rid of SSGI allowing this to happen .
This is my take on things Guys ,,, DYOR

No smoke without fire pal .

Fantasy , I have stated it’s a done deal ? No . All my posts say awaiting final sign off.

V111JAS , I have the same relationship with AP that I have with all the current BOD , and have had with the BOD of the past . So what is the significance of your question ? Your based in the states you quote , mmmm I have many Vast Shareholders contact me in the past from the states , are you 1 of those investors ? What’s your real name whilst you think it’s necessary to ask personal questions ?

Taken from Rns 8-4-2019 . Andrew Prelea, Chief Executive Officer of Vast, commented, “I am delighted with the results that this transaction will achieve for the Company as it will allow management to focus its efforts on the two core focus assets in the Company, namely the Heritage Concession in Zimbabwe and Baita Plai in Romania.

The fact is we are awaiting final sign off , that is the exact message which has been RNS’d .

More than that , let’s put it that way.

Agree piker , we need the final sign off, but there much better ways of finding out other investors thoughts . Unfortunate for yourself investors are getting fed up of the personal negative agendas on here , this is why they are been called out and given facts to back up. I’m not at all saying that was your agenda but please understand people have serious money invested here and quite rightly so correcting these people . If you look back at the bb last couple of weeks you will see clear evidence of this , as some have disappeared when asked to back up with facts . We’re all in this together so let’s row in the same direction, yes let’s have debates which is healthy but to act like some have is totally unhealthy. Gla

Piker , so if you were invested and know about the conference you will know what was said ? also Vast has been mentioned by Reuters named as 1 of the 4 . Also look at Jayfella posts Vast has been clearly mentioned as 1 of the 4 on numerous occasions .

Piker let me help you out with that , firstly read through the recent RNS announcement you will see clearly that vast is just awaiting final sign off . You probably weren’t a share holder during the zim mining conference in London last year , where Andrew Prelea sat along side Winston Chitando discussing the diamonds . Please tell me why would that be AP talking directly about the diamonds and also very significantly the SEZ to allow repatriation of funds . Hope this helps . Ps I was present at that meeting so it is factual .

Batfink , let’s see what unfolds for vast in the coming days / weeks /months then this bb can get back to proper discussions and everyone will know the direction vast is travelling and at what pace. There is hopefully plenty of positive news that will give shareholders what they are looking for .

TBTT I quote you “ vast has lost its only producing asset “ no good producing if we cannot get repatriation of funds . Would you keep paying your mortgage to give you house to the banks in 10 years , NO . So why would cast carry on when with diamonds they negate that issue instantly . Honestly guys this is getting tiresome with spats and self opinioned posts non factual in any way. If you don’t understand the significance of today then your looking at this emotionally not in a business sense . . If I had your thoughts I would sell up and move on ? .

Batfink I hear you on Manaila but where is your evidence ? . How come you know where the finance is upto ? I have looked looked n looked without any joy so can you send me the link to where it was stated about the dates you provide . I’m not having a go Batfink but constant nonsense helps no one.

Batfink , I suppose I expected nothing else. Read my post did I say we have finance sorted ? NO . But will you please tell me with evidence your thoughts on this and the time lines to take Manialla back into production ? You clearly state it will be shut for some time , price it please .

A massive well done to all those that voted resolutions through , you have just freed vast of the shackles . Over to AP now, he has a clean balance sheet and all terrible historical issues cleared . ????

Angus read my post , it tells you why money never came out of zim for gold . Please tell me what you know about fidelity transactions and the process for gold payments? . Because if people understand it they will know money can be taken out but it’s impossible to get us $ for gold .

Same to you pal ,

Fantasy I’m not praising , I’m telling you guys that no matter what you think the shambles that vast found itself in was no fault of AP . Yes he has made mistake navigating the headwinds but when everything considered he has done a good job to allow us to survive and growth potential is massive . Leave it there hey !!!!