Member Info for Muck165

Agreed. Delay smells of problems and AP needs to tells us what’s going on. I fear though that the next debt related RNS May have a sting in the tail.

Oh dear, indeed, Sandy.

Just a little more here, but looks like Yates will be doing the presentation himself.

https://www.linkedin.com/posts/activity-7140692826136178688-uLpm?utm_source=share&utm_medium=member_desktop

No problem Ant! Like I say though, there’s no guarantee he’ll put any statement out at all. He doesn’t have to, and it was unusual for him to do it last year.

Sadly, I think this must be our Andrew Hall. Thoughts with his family.

https://www.oxfordmail.co.uk/news/23971962.wallingford-asset-manager-found-dead-gunshot-wound/

Focussing on the copper is all well and good ASI, but it means nothing if we don't have the funds to get it out. Its only fair, therefore, that people focus on the diamonds because they seem to me to be, unless some kind of re-financing can be agreed, the only thing that will get us out of the serious financial mess we are in.

I've thought the same QED, but then I also think the prospect of us ever getting back anything under clause 4 is very very remote.

Last year Yates put out a brief statement on AGM day, which gave expected 31/12 cash position of £4.3m.

By 31/3 that had dropped to 3.7m, so £200k burn per month.

By 31 June it was £3.2m, so the burn had reduced to £166,667 p/m.

If he gives a similar statement on Friday (6 months after known cash position of £3.2m) then I’m hoping it will be north of £2.2m. That will show further improvement in the burn rate. The higher it is above £2.2m, the more he can say the company is moving towards cash positive position and the more indication we will have the costs are being controlled and business is doing well.

We may, of course, get no such statement at all!

Ah, the old argument that debt extension = imminent diamond news. Haven’t we heard that at each extension over the last 6 months.

i don’t know if it’s insight vagabond and no doubt i’ll get shot down by the rampers on here for pointing out the negatives. personally i just think it’s important to be balanced.

we have a great asset in bp, but without the diamonds our short term financial position is shot to ****.

Well, what might achieve that?

Good news on the diamonds, but have we got any better reason now to think they’re imminent than we did last week, or the week before that, or the month before that?

A loan extension (again). That might come, but on what terms and why have these not already been agreed if an extension is a slam dunk? Seems to me from the wording of the last debt RNS that we are discussing “arrangements” that could be put in place to allow an extension, and I doubt “arrangements” will be in Vasts favour.

Then we have the downsides..

Our own Romanian lawyers have got court approval to get bailiffs in to BP in respect of unpaid fees. Would they do that if they thought millions were imminent from diamonds?

We are being sued by other creditors for unpaid fees, and are losing.

We haven’t got the diamonds and have no real indication when they might come

We are 6months overdue on serious capital commitments

We owe £2m in unpaid payroll tax and are having to renegotiate a payment plan we can afford with the Rom tax authorities.

We have normal cash flow requirements, all previously funded by placings

We only have very limited authority to raise anyway and at current SP any raise would be inadequate.

So unless there’s seriously unambiguous good news on the sparkles, I don’t think we’ll be at 0.12 next week.

But who knows, that could come and it rockets.

Sorry if it was deflating Ant! Unless one of our partners gets news (which will be outside of our control) then really all I’m saying is don’t expect much, if anything in the way of news before the AGM.

Don’t disagree Vagabond - whilst it may be a very small factor, I just don’t think the release or otherwise of our parcel is as anywhere near as important to the future of investment in Zim as some on here suggest. If it was, the parcel could have been released months, if not years ago.

“The release of the diamonds owed to Vast is not only a matter for Vast but more importantly Zimbabwe that aims to a achieve billions dollars worth of mining sector”

That might be your view Dilara, and it sounds reasonable, but realistically I don’t think the release of our parcel is that important for Zim in the grand scheme of things.

Personally I think AP truly believed the diamonds would be coming when he stuck his money in, and has been bitten like the rest of us.

Morning Ant - tbh I often see people across the boards thinking news will come on AGM day, but it never does. I think we may get a short statement for Yates on the day giving a brief summary of the current position (Inc cash) and then an update confirming all resolutions have been passed.

A little more detail. Looks like the whole thing will be available on You Tube after the event as well.

https://www.proactiveinvestors.co.uk/register/event_details/436#

Looks like ABDX will be presenting to a suite of investors on 11 Jan as part of Proactives One2One program.

https://www.linkedin.com/posts/proactive-investors_proactive-one2one-events-wrap-after-paradoxically-activity-7138157856570138625-qdQM?utm_source=share&utm_medium=member_desktop

A small thing, but I noticed that Upfront are adding human resource on the corporate finance and strategy front.

https://www.linkedin.com/posts/upfrontdiagnostics_upfrontdiagnostics-timeislife-newhire-activity-7138502631794049024-L_rB?utm_source=share&utm_medium=member_desktop

We know they’re in the last stage of trials with their stroke test, and undergoing NHS evaluation. Seem pretty confident in their commercialisation prospects.

Certainly seems to me that we’re running out of viable options unless the diamonds arrive.