Member Info for Morningsun

TBT, exactly my conclusion.
Wish we could add a resolution to the AGM stating that our bod should get our current assets into profit before spending any more money and time on jam tomorrow projects that we have no chance of controlling anything about in the first place.
GLA
MS

Thanks Kurrinz, that is the exactly the wordplay that I was referring to on Monday at 08.41.

However, it also does not say 'will be licensed' so we really don't know much more from that answer by AP. Am I starting to understand how AP thinks...? Hmmm, what to think of that. ;-)

LSE doesn't show a RNS for 22-08-2018 so I went looking for it on the Vast website. Here is the link.

http://www.vastresourcesplc.com/news/due-diligence-joint-venture-terms-on-community-trust-diamond-concession-in-the-marange-diamond-fields-22-08-2018/

In this 22-08-2018 document it is also stated as follows:
***
Red Mercury is a company owned by the Marange-Zimunya Community Share Ownership Trust (MZ Community Trust), which is registered as a Community Share Ownership Trust under the laws of Zimbabwe and which has received an undertaking from the Government of Zimbabwe for a licence to mine on the Heritage Concession.
***

On the 17th of October Vast RNS'd that they would proceed to the full JV with Red Mercury, subject to legal due diligence. No further news of any use on the subject I can find after that.

So, the status is that we are still doing legal DD on the JV with RM and RM does not have a license yet but do have an undertaking from the Zim gov. Not sure what that is worth.

We will have to wait and see as it's Zim and anything can happen. Bit similar to Vast I guess ;-)

So, in my view we are still back to focusing on what we control (the mines in Rom) and making those profit centres. That is what we are here for, a profitable company. If the diamonds come then great but we should not wait for it and not loose focus on what we can achieve easily, MN trucks and BP start-up. Once we are in the black then anything is possible and we will then also have more credibility which will makes all the difference i,e no more need for a Bergen type of killer loan.

GLA
MS

CB, thanks. That is really helpful!
GLA
MS

I cannot believe that people really doubt whether Star will get a new nomad. If you see what kind of two bit companies get representation then there cannot be any doubt that Star will get one.
I haven't read anyone posting any reason whatsoever why they shouldn't get a new nomad.
The opposite I have seen loads of and still people don't seem to trust it.
Anyway, each to their own. It's an opportunity, if the SP is down here due to the nomad reason. But that is of course only my view so DyOR.

GLA
MS

That is exactly where I got to RTC. So if I feel up to it I will ask GGP directly. On the other hand, they are coming one way or another so it really makes no difference in the end so might as well move on I guess.
MS

I guess we don't have a timeline then and I can't find it in any RNS either. They never state any timeline.
MS

See, I read this differently.

I think this is the key part of the RNS.
*****
Greatland Gold plc (LON:GGP), bla, bla.... announces that an application has been made to AIM for a block admission in respect of 212,000,000 new ordinary shares of 0.1 pence each in the share capital of the Company ("New Ordinary Shares") which will rank pari passu with the existing ordinary shares in issue. It is expected that the block admission will become effective (!!) on 18 January 2019.

These New Ordinary Shares will be issued and allotted (mind you it doesn't say admitted!) from time to time pursuant to the exercise of warants under the following scheme:
******
To me this says the shares have been admitted to trading. They will remain in the coffers of GGP until such time that warrant holders convert. They then get issued and alloted their shares, which are already in trading since the 18th of January.

It then makes sense that the following part states that the amount of shares outstanding remains unchanged. So as and when warrant holders convert there will be no change to the amount of shares outstanding as they already are in trading.

It means in my view that GGP don't need the money now and are completely sure that the warrants will get converted as the SP will for sure go over the 3p 5day benchmark so better to get it out of the way in one go.

Makes sense? Technically possible?

GLA
MS

In my view website e alreaybeen diluted in one big hit. GGP just hasn't collected the money yet.

As far as I understand, wannabe is correct about the warrants. We covered that subject a couple of weeks ago.

One of our regulars explained that above 2p the warrants can be converted, I think at the 5 previous business day average. It's at the holder's discretion whether they convert or not.

If the SP is above 3p for 5 consecutive business (trading) days then the company can make the holders convert. So then it's at the company's discretion.

Trust this helps.

GLA
MS

GLR, that sounds great. On the other hand, it does make you think. If these electric cars really take off that will be unsustainable. There isn't enough of the product around!
Then what....
Trust by that time we have sold out at substantial multiples ;-)
GLA
MS

Is it really that much better HAT as prices are also higher than Barclays. Not saying I'm so happy with Barclays OR having my investment and my bank accounts tied in together by the way.

What are the main plusses in comparison?

Thanks
MS

Talaxis will invest a further $$$. Do we have a timeline for this investment to be made?
Thanks
MS

FHP, time to hold or add. I added yesterday.
What we do is not rocket science. Focus on profit centres and the rest will come in due course.
GLA
MS

Morning News, I trust you mean a 80m radius cylinder ;-) much higher chance of achieving!
GLA
MS

Thanks for this Mizman.

Is this where the USD 1 million went that AP raised shortly after promising not to raise at those low (well....) levels again, the SPV for MDF? AP had to suddenly raise USD 1mln and then disappeared to Zimbabwe. As per below it is one of the conditions of the SPV that vast has to provide USD 1mln initial funding.
If so, why not announce it?? What else could he need exactly that sum for?
GLA
MS

*****
In May 2018 BOD signed a MoU with Vast, an AIM listed exploration company. In terms of the MoU, the two companies would be exchanging past exploration information and forming a special purpose vehicle (‘SPV’) to jointly develop the diamond potential of Zimbabwe.  The initial focus of this agreement is on the Marange Diamond Fields (‘MDF’) of eastern Zimbabwe. Vast holds exclusive access to key diamond concessions within the MDF (“Heritage Concession”) through an agreement with a community organisation.

The initial MoU has since matured into a formal agreement over the MDF, which includes the following terms:

An SPV between BOD and Vast to develop diamond resources in the MDF.
Initial shareholdings will be BOD - 13.33% and Vast - 86.67%.
Vast will contribute up to US$1 million as initial funding.
If any additional funds are required, this will be via an equity raise.
BOD and Vast may contribute to any future equity raise on a pro rata basis.  If either party does not take up its allocation, the other may contribute further and increase their relative shareholding.

A separate agreement between BOD and Vast will cover the joint development of diamond properties outside of the MDF in a 50/50 joint venture model.
******

Exactly Dodge,
Realism.

Kew, I don't see these as poor results. They have good enough grades with reasonable thickness and also not too deep. What it doesn't say is the extend of the mineralisation as in how wide and long is the ore body. That will make all the difference in mineable volume and hence in revenue.

Don't think this will do anything to the SP though as it's not the news we are waiting for....

GLA
MS

TBT, in response to the last sentence of your post, I have not read anyone stating that they will support the resolutions 3 and 4 referring to the extra headroom for Bergen.
GLA
MS

On the other hand they wouldn't tell us anything anyway as they would have to RNS it.
MS

I haven't.
MS

Just to remind ourselves, the loss of our nomad was due to the merger of Northland with SP Angel. Northland agreed to relinquish their nomad status which forced us to find a new nomad. At that point DD from a new nomad was started.

There is no reason why we should not get a new nomad in time before the 1st Feb deadline as the loss of our nomad had nothing to do with the Star business fundamentals.

Therefore, if that is the reason our SP is at this low level it should lift soon.

GLA
MS

***** RNS excerpt:
Nominated Adviser Status

The directors of Starcom are aware of the proposed merger of its current nominated adviser ("Nomad"), Northland Capital Partners Limited ("Northland"), with SP Angel Corporate Finance LLP. The directors have also been informed that Northland has voluntarily agreed to relinquish its Nomad status and will be removed from the register of Nomads with effect from 7am on 1 February 2019.

In accordance with AIM Rule 1, if the Company fails to appoint a replacement Nomad by 1 February 2019, trading in the Company's AIM Securities will be suspended. If the Company fails to appoint a replacement Nomad by 4 March 2019, the admission of its AIM Securities will be cancelled.

The directors are pleased to report that they have identified a replacement Nomad and that the due diligence process, which is required to be undertaken on the Company, is in progress. The directors are confident that the Company will be in a position to announce the appointment of the replacement Nomad in advance of 1 February 2019.