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You clearly haven't read the RNS in full then Latino ;))
........"The Directors would like to stress that the authority is required in order to give comfort to the Creditors. With the near term prospect of receipt of the historic parcel and the benefit of current discussions with the owner of the Swiss investment company, and also with the expected rise of the Company's share price in the light of these developments, it is not expected that a material proportion of the requested authorities will be required in practice, or if required not at prices similar to the current share price".......
From July 2023 RNS
"Consequent to this, the Deputy Sheriff was again instructed to uplift the parcel on 29th June 2023. Also in attendance were the Company’s lawyers.
Upon attendance at the RBZ, and in consultation with the bank’s internal legal counsel, the Deputy Sheriff agreed that the RBZ would confirm, in writing, the process that would define the procedure for the orderly and secure hand over the parcel to the Company, which includes the procedure for valuation for royalty purposes, export permits and Kimberly Process Certification."
I reckon only thing holding this up is a rubber stamping of export permit and KP certification, could get interesting next week or so ......
There may be an initial drop first thing, but there are numerous positives in todays update and I can see this closing blue later.
The elephant in the room that has been the debt and a drag on the SP for the last few years is finally to be addressed and remove that uncertainty for the company.
Every chance from the language being used that the diamond parcel will be released prior to plan B coming into play ....
I think given the choice I know where my money would rather be - but comparing VAST to UKOG when UKOG has almost 30Bn shares and just announced last week their well they were drilling basically isn't commercial?
At least here with 5.5Bn shares and another placing just done with the prospect of a resolution to the diamond parcel, potential mining licence and BP ramp up there are certainly genuine reasons to remain invested and keep the faith here :))
The only ones that think or hope this is going up 100% are the one's stuck in here hoping to get out higher up.
The CFO now gone is yet another red flag, and TOSCA out, a second red flag to add to the countless previous red flags.
"the funds raised will ensure the Company has sufficient funds available in respect of the Historic Parcel and the first shipment of the PGM concentrates as announced on 22 January 2024."
Mounties, you are indeed correct, I've checked previous RNS's and that's the first time the company have said that bit specifically ......
"the funds raised will ensure the Company has sufficient funds available in respect of the Historic Parcel"
Must be close ;))
Wow, just looked in here - 24 posts this morning and thought there had been an RNS and then remembered it's a Sunday lol.
asimpleinvestor I think many will wholeheartedly disagree with the valuation you put on the historic parcel. Clearly AP AND the creditors will know more than they are letting on regarding information of it's value and content etc, otherwise they would have enforced the debt owed to them many many months ago.
AP in a recent interview when asked how much they are worth said,
"Yes we do , but it's not for public consumption at this point in time unfortunately, but we are confident it will suit our needs"
That's all we need to know until we know they are in possession of them and are in the process of selling them. Personally, I think worst case we are looking at 8-10 million which would more than cover the 7 million debt and best case maybe double that which would not only wipe the debt but give us a substantial amount of cash in the bank.
Remember what the latest placing said -
"Additionally, the funds raised will ensure the Company has sufficient funds available in respect of the Historic Parcel and the first shipment of the PGM concentrates as announced on 22 January 2024."
HAS SUFFICIENT FUNDS AVAILABLE IN RESPECT OF THE HISTORIC PARCEL 😉
This was 4 months ago, but a breakthrough could suddenly come out of the blue and turn things on its head for Vast
"Vast to auction diamonds held by RBZ"
"Alternative Investment Market (AIM) listed Vast Resources says it is getting ready to sell 129 400 carats of rough diamonds, which have been in the custody of the Reserve Bank of Zimbabwe (RBZ) since 2010.
The company also said it would soon shift focus to a potential mining project in the Marange diamond fields."........
......... "The settlement is following the path of consensual due process and we appreciate the Government’s continuing assistance in bringing this matter to a close.”
The lot has not been released to date and the company in a trading update said it will not continue with their investment till they get hold of their diamonds."
Good point in your post there dilara.
Yesterday was just a taste of what's to come here. This wasn't a P&D - it's currently 0.0985p to buy anything whereas just yesterday morning some lucky ones could have picked some up for 0.085p.
For once I'd say with confidence that I'd rather be in Vast than out at this critical point .....