Member Info for mizman

Money will be in the bank and full scale production will begin with two weeks. We will generate cashflow and refinance Atlas and that's without diamonds.

That's the difference between now and last year.

We'll all feel better when news start's to flow.

Sonic, don't overlook the 14,000 tons of production incoming per month! BP will be a cashcow in its own right.

Climate alarmist banks go carbon-colonialist

https://www.cfact.org/2019/12/30/climate-alarmist-banks-go-carbon-colonialist/

Don't forget LC's broken promises. Where are the PPA's?

What an ignorant comment.

I think the shorts are closing ; )

I'll come back in 2030 for some value here.

Vast Resources set to draw down first bond cash by year end
2019-12-18 08:41:00
In October, Vast said that the first tranche of payments would comprise some US$7.1mln of bonds
Vast Resources PLC -

Vast Resources PLC (LON:VAST) said it intends to unlock the first tranche of cash from a recent US$13.5mln bond financing deal before the end of the month.

Back in October, Vast inked documentation for a financing arrangement which it said would cover the costs of reaching production at the both the Baita Plai mine in Romania and the Chiadzwa diamond project in Zimbabwe.

A UK based fund, Atlas Capital Markets, is to be issued US$15mln of secured convertible bonds issued at 90% of par and carrying 5% interest per year. The bonds mature two years after issuance.

“The company continues to progress towards drawdown of Tranche 1 with both parties working together with the intent to effect drawdown before 31 December 2019,” said the AIM-listed miner.

Proceeds are intended to be released in four tranches, tied to cashflow, with the first tranche comprising some US$7.1mln of bonds.

Included in the terms is a ‘non-conversion period’ giving protection from equity dilution following the date of the second tranche of bonds – it provides for six-months protection after the first tranche and potentially then 12-months after the second tranche of bonds.

"The bonds provide the required capital to enable the company to bring its two core assets, Baita Plai in Romania and the diamond concession in Zimbabwe, into production,” said Andrew Prelea, Vast's chief executive.

“The agreed non-conversion period, the early redemption and cash settlement options give us flexibility and enable us to limit dilution.”

Prelea added: “The Atlas facility will accelerate the start of production at Baita Plai while we continue to work on the establishment of a long term finance facility for Baita Plai and other assets in Romania, whether with the Swiss bank or otherwise.

In December, Vast announced the cold commissioning of Baita Plai polymetallic mine in Romania, with current capacity up to 7,000 tonnes per month (tpm) and the first saleable concentrate expected in the first half of next year.

The Sakubva renewal initiative will give the old suburb a major facelift through demolition of old structures and construction of modern flats, markets and upgrading of social amenities. The gemology centre to be constructed at Fern Hill will add value to diamonds from Chiadzwa.

https://twitter.com/HeraldZimbabwe/status/1207226045679767552?s=09

Difference is the odds. Vast is a near certainty. Unfortunately your lottery win is not.

If you just read the words in the RNS, T1 will be drawn down by 31st!

This will pay for BP 14,000 mining ramp up and JORC drilling. Will unlock 200m value for BP alone. And diamonds, which can be signed anyday now, will blow that out of the water!

https://dentondaily.com/russias-diamond-titan-returns-to-zimbabwe-to-help-country-regain-its-former-luster/

Time to seriously load up or miss out on multi bagger!

Company projections suggest the operation may potentially run at 2.0mcts per annum
(90/10 spit between industrial and gem quality stones) generating ~$120m in turnover using
$58/ct average value with 10% of production and 95% of sales proceeds coming from gem
quality rough diamonds. At guided $20/ct or $10/t cash costs (incl royalty), the operation is
forecast to generate $77m in EBITDA, equivalent to 65% margin, once fully ramped up to
110tph XRT feed (assuming 4.1mtpa in mining rates at 5.0x XRT yields and 85% plant
availability). Assuming 10-year mine life that amounts to 39mt of mined mineral material
and production of ~20mcts generating $329m in NPV10% and 473% IRR.

Spot on, their loss

That's exactly the point. Why did the bod not do its own drilling? With so much cash in the bank and even with a placing, they could have got the SP to 50p.

Absolutely outrageous.

AP has recently said in an email, delays are due to political situation in Zimbabwe only as key decision makers are tied up with strikes and sanctions. And to avoid charges of corruption, has to be done by the book.

He still is confident that it will be signed and soon.

Read the Botswana Diamonds RNA. Bad have a biger concession areas and keep nearly all the profits.

This will be huge.