Member Info for Morningsun

Sandy, your response at 08.49 yesterday to Sonic's post of 08.22 yesterday compelled me to read the Atlas info yet again.

I cannot conclude but that Sonic is correct about the finance repayment requirement. Vast can elect to repay this first tranche within 6 month from drawdown, which completed on the 31st of January, at a specific repayment mechanism. If not, the tranche will convert to shares, unless Atlas elected (the Election) to extend to 12 months. However, where the agreement speaks of such Election intended to be chosen by Atlas for the Zimbabwe tranches, this is mute on the BP tranche in this respect.

This leaves it open to the risk of conversion as Sonic points out as with BP coming on-line at the end of July (here's hoping) Vast will have no funds to repay the Atlas T1.
So, in short, it's all down to Atlas whether they will extend or not. What will they chose...

Happy to be corrected on this.

MS

Launder,
If that was not Havieron on the screensaver then it must have been a project so similar to Havieron that even PaddyGal mistook it for Havieron.
I think I'll see pigs flying first...
MS

The best part of the presentation for me was when CB's voice jumped when he started talking about Scallywag. Very telling how excited he really was when his normal tone of voice is quite dull.
Excellent indicator.
MS

PG, taken me a bit of time to digest what you meant. Now I get it.
If the pink in the middle mineralisation zone is 1200m deep, the blue will be more than double that. Almost tripple...
But that won't be knowledge from drilling. Nor from the surveys we have seen so far as non went that deep...
How could they know?
MS

Thanks Sanboy.
What I expect GGP to do is indeed sell the 5% as that gives them the money to do whatever they want. They then have options on the 25% remaining of Hav.

I would be surprised if GGP would go and develop SW on their own past the initial drilll season. I think they would benefit more from the likes of NC in a JV as it complements the GGP skills. GGP skills are in finding the projects and do the initial drills, exactly like they did with Hav. You need a very different set up to do what NC are doing now. RInse and repeat as they say. Don't change a winning formula.
MS

PG,
What do the blue and pink colours mean in that corebox picture?
Thanks.
MS

Interestingly Hydrogen, I disagree. The key to this is NC deciding to build the mine. They will only do that on the basis of the MRE but surely in their mind they have already decided to build the mine.
By that token, the project is de-risked. In the same way as NC has to go through their decision process to validate the investment in the Havieron mine, GGP will be able to do the exact same by raising funds in the market for their share of the project at favourable terms, as ssentially they are raising funds for a NC backed project which makes it very, very different than a 100% GGP project fund raise would be perceived. The money is definitely there.
NC will surely buy the additional 5% leaving GGP with 25% and a pile of cash/shares in NC, whatever the choice will be.

That is not to say that GGP will not decide to sell most of said 25% as it is a choice, but they definitely do not have to as you suggest, I'm convinced of that.

Not sure it makes a really big difference though to us. Either we have a massive pile of cash/shares in NC or we have a substantial long term income stream. I'm not bothered either way, as long as we get on with finding more Hav/telfer style projects. One a year is just fine ;-)

MS

Thanks Wood. Great to read. Better even about the shorters. Wish I could turn that burning of shorters into some kind of useful energy ;-)
MS

French fish market worker now confirmed to have tested positive for the disease on the 27th of December, one month earlier then previously thought the first positive case was encountered in France. So the virus had been spreading in France uncontrolled for at least a month longer.

One conclusion possible: Test, test and then test more for the coronavirus. Who has the best test available.... indeed.

MS

Codey, I trust you are not referring to me! If you are you need to learn to read.

Have a think about this. Testing at the hotel entrance? Every time you come back to the hotel, like twice a day at a cost of GBP10 per test? And the rest of the country is in no need. Of course not.

There will be testing at entry point to countries for sure and at departure. That takes care of the import of viruses. That is what Spain (and other tourist destinations) are most afraid of. But they need the tourist euros, dollars and RMBs. They live on it.

For the rest it will be test, track and trace as will be required everywhere in order to open up further.

I see no way a country like Spain can go without tourist income for the summer. The economy will just not be able to take it. July and Spain are just too important.

Follow Tomvisuals mantra.

MS

Ben, do you really believe that in the Zim political environment, the local community actually determines whether the Zim gov will sign a deal or not? You've got to be joking.
MS

So, the news on bloomberg TV this morning is that Zim gov is pleading with the IMF and Worldbank to please please please help them out as gov does not have the money for any rescue packages for the local economy. They are asking i.e. for debt arrears restructuring (rear cancellation) as this particular issue (not paying your debt interest) is causing Zim gov to not being able to lend any further funds. Yes, that is what you get from not paying your debt interest.

So, with all that going on in the background, the ZIm gov cannot get their finger out and sign this agreement with Vast to get them to mine the diaminds, which by the way would bring in many, many millions for the Zim government, just when it needs it most.

Really, and that is what you all chose to believe?

Whatever the issue is, if the Zim gov wanted to sign that deal, it would just sign it, Covid-19 pandemic or not. It really is that simple.

MS

Spy, nice game. I'd hazard a guess that Al is helping to break it up.
Used to like the music too.
Close enough?
MS

no, france is closed for bank holiday.
MS

This came from the Avacta RNS. Thought it was excellent news for NCYT, one of the very few actually producing tests that can be used today. instead of all the potential development companies ...
****
A consensus view is building around the world that hundreds of millions of COVID-19 tests are going to be required per month for a long period, and that the disease will be endemic after the initial pandemic has passed, meaning that testing for COVID-19 is going to be needed for many years.
***
MS

I now use investing.com app after webull stopped LSE coverage.
MS

Tigger, this is a very simple question for you. If you are right, then why on earth is newcrest throwing everything they have at this to make it a mine ASAP?
Even starting the process for a decline?
Are they that dumb that they cannot see what you can?

Thanks for the education.
MS

Shinfalls, this is not a magic bullet by any means. However, a reduction in recovery time of 27% is a major improvement I would say in the grand scheme of things. Cost of treating someone per day, loss of productivity per day, medication, etc, etc.
MS

Now with correct name in title
https://www.bbc.com/news/health-52478783
MS