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Vast Resources’ diamond venture hinges on deal with Red Mercury By Business Writer - January 21, 2019 089 TINASHE MAKICHI AIM listed Vast Resources plans an initial investment of $30 million towards its diamonds operations at Zimbabwe’s Marange diamond fields. However, the venture is hinged on the signing of an agreement with Red Mercury. Red Mercury is an investment vehicle which was formed by the Marange-Zimunya Community Trust which has since signed a Memorandum of Understanding with Vast Resources. The resources group is planning an initial $30 million, which will culminate in the setting up of a big operation. The signing of the agreement for the mining of diamonds in Marange is subject to Red Mercury receiving the final licence and the resources group is anticipating a considerable change in its direction and its near term cash flow. Vast Resources is the first private company to mine diamonds following the consolidation of the diamonds industry by government in 2015. Chief executive Andrew Prelea said: “A significant event that will potentially change the direction and near term cash-flow of the company is the signing of the agreement with Red Mercury which should, subject to Red Mercury receiving the final licence, lead to the mining of diamonds on the Heritage Concession in the Marange Diamond Fields of Zimbabwe.” The mining group has so far concluded an exclusive access agreement for due diligence and pre-agreed Joint Venture terms with Red Mercury as outlined in the company’s announcement of August last year and since then has completed posi tive commercial due diligence on the project. Prelea noted that Vast Resources would in the outlook focus on improving results in its core operations in both Romania and Zimbabwe. “Opportunities in both jurisdictions will be pursued rigorously with reliance made on its local management and the extensive network of relationships with key parties,” said Prelea. Vast Resources on Zimbabwe gold operations On Vast’s gold operations in Zimbabwe, Chegutu based PickstonePeerless Gold Mine experienced above trend increases in mining and overhead costs in its interim results to September 30 and this was occasioned by an unprecedented flooding of the pit and an increase in overburden stripping to access declining oxide ore reserves; to facilitate sulphide mining and to provide adequate mining areas for future periods. There was an 8% increase in gold production to 13 352 Troy ounces from 12 383 Troy ounces in the six months to 31 March 2018. Prelea said the benefits of this overburden removal will be positively felt during future reporting periods. Cash flow generated at Pickstone-Peerless has generated funds which together with the local bank overdraft, has funded both the recently constructed sulphide plant and initial expenditure on the Eureka Gold Mine. He added that a $30 million debt facility is currently b

That looks like good news soon. Shorters taking the Mick. Close your shorts quick if this news lands.

When is the Q&A?

When Whetstone shares do exceed £2.38 per share, when Worthington has come out of liquidation, and when I have fulfilled my 30 year promise, I have little doubt that the gifting of shares will be copied by others trying to emulate what will have been a unique and extraordinary story. However they won’t be doing it for the reasons we are doing it, the motivation and circumstances will not be, and indeed cannot, be the same - unless they too have spent 30 years writing the same book! This is a unique and true story, designed to lay the foundations for the really important work that needs to be done. And this is a work that, as described above, is urgently needed. Which brings me to the conclusion that time is of the essence and that the time is now

Funding news brought down the price and funding news Will take it back up. Diamond news will take it through the roof. Big money to be made from this level!

http://www.botswanadiamonds.co.uk/operations/vast-zimbabwe

"Zimbabwe’s diamond potential “still remains largely untapped, with a lack of significant investments in geological surveying and exploration.” Amid Unrest, Alrosa to Return to Zimbabwe By Michelle Graff michelle.graff@nationaljeweler.com JANUARY 22, 2019 Harare, Zimbabwe—Alrosa is going to look for diamonds in Zimbabwe, again. During a visit to Moscow earlier this month designed to shore up foreign investment, Zimbabwean President Emmerson Mnangagwa announced Alrosa’s intention to begin mining diamonds and other minerals in the country. Mnangagwa has governed Zimbabwe since the 2017 ousting of longtime leader Robert Mugabe, and officially became president after winning a disputed election in August 2018. The two countries began negotiating in 2018 and established the joint venture Alrosa (Zimbabwe) Ltd. on Dec. 6 in Zimbabwe’s capital, Harare. When asked where in Zimbabwe it would be mining, Alrosa Vice President Vladimir Marchenko did not specify, saying only that the company will first concentrate on finding new kimberlite deposits. He said Zimbabwe’s diamond potential “still remains largely untapped, with a lack of significant investments in geological surveying and exploration.” “We are also open to sharing with the government of Zimbabwe our best practices in setting up responsible supply chains and comprehensive systems of control of the flow of diamonds that we have developed over the years. The plan will be implemented in cooperation with Zimbabwean partners,” he said. Currently, state-owned miner Zimbabwe Consolidated Diamond Company is mining for diamonds in the Marange region—the region that was ground zero for the human rights crisis that led the Kimberley Process to ban Zimbabwe from exporting rough diamonds for a time— and RioZim Ltd. is mining in Murowa. (Rio Tinto used to own and operate the diamond mine there but sold its stake and left in 2015.) Alrosa, which conducted diamond exploration in Zimbabwe in 2013 but pulled out a few years later, said its geologists and mining engineers will arrive in Zimbabwe by mid-February. President of Zimbabwe ✔ @edmnangagwa In light of the economic situation, I will be returning home after a highly productive week of bilateral trade and investment meetings. We will be ably represented in Davos by Minister of Finance, Mthuli Ncube. The first priority is to get Zimbabwe calm, stable and working again. 3,311 4:20 PM - Jan 20, 2019 Twitter Alrosa’s announcement that it is entering Zimbabwe comes at a time of political and economic turmoil in the south African nation. Citizens have been taking to the streets, burning tires and blocking roads in response to the recent government-implemented hike in the price of fuel that is symptomatic of larger economic problems. In response, government security forces have launched their biggest crackdown on

The Croc is back in Zimbabwe and it will be business as usual very soon. In fact the diamond news may be released sooner.to show Zimbabwe back to normal and open to business.

So who bought these? Must be confident the offtake agreement arriving soon. And will about dimond news?

Must be a delayed trade. Over to you AP, as I suspect that 7m buy wants a handsome profit.

Yes, excellent entry point. Won't be below 20p for long.

I noticed no podcast. AP keeping his head down, until he has something meaningful and substantial to say.

So where is it?

Not even £100

If BP is a good cash generative assets, then the future is safe, despite the pain we are going through now. We will progress with funding from another offtake, percentage sell off or dilution. A slow recovery as cash start's to flow hopefully by May. However if we get dimond news in February, then all will be Rosey and SP will re-rate. Absolutely bargain price to get in, however AP's must stop over promising and under delivering.

You can start by ******* off.

A right fck up. Get the new funds sorted!

Delivering earlier means bettering expectations and most importantly extra millions in cash.

The days if not hours comment, is leaving a bad taste. However, the key point at the end of the podcast was that this whole funding Saga would be over by the end of January. I'll take that and SP of 0.5p.

Who sold at 0.24? Painful!