Member Info for Muck165

Two different conferences I think

I agree with you LS.

For anyone with time on their hands this weekend, you’ll find a series of articles here dating from early 2010, which give a pretty good flavour of what was going on in Marange (and with our diamonds) at the time. I worked my way up from the earliest article (at the bottom). Thought they were all interesting.

https://nehandaradio.com/tag/african-consolidated-resources/

I also came across this, which indicates that in 2010 the then MoM removed 29kg of stones, using fake Supreme Court documentation, from the central bank that had been deposited there for safekeeping, only then to be ordered to return them.

https://www.voanews.com/a/court-orders-return-of-diamonds-seized-by-zimbabwe-mining-minister--84782452/112737.html

I think there are positives and negatives for Vast in all of this. On the plus side there does seem to be more potential than I’d thought that our parcel could include more gem quality diamonds. On the negative, it may well be the case that the stones the MoM (a corrupt guy called Mpofu) removed could have been ours, and that the stones he returned may well not have been the same.

Anyway, those at all interested can read the articles and make up their own minds.

A well run and funded company pays its liabilities as they fall due ASI, especially to the tax man. It doesn’t rack up a debt, agree a 5 yr payment plan (just last year), and then go back this year cap in hand to try and renegotiate a more affordable one. That’s especially so if the company is “confident” of realising significant capital imminently.

Of some other work going on behind the scenes.

https://www.linkedin.com/posts/matt-johnson-38397583_checkyourdrink-protectyourself-jersey-activity-7129931945479737344-4_cq?utm_source=share&utm_medium=member_desktop

Anyone else notice that we also have nearly $2m of unpaid payroll tax owing to the Romanian Tax Authorities, and that post year end we have been in discussions with them to re-negotiate a payment plan we can afford (because it seems the one we agreed in May 20 is not affordable) - see Note 20 to the accounts.

I'm still in here with punt money purely because a whiff of news will spike this, but I really am glad its just punt money. The fact we are renegotiating a payment plan for $2m of unpaid tax doesn't tell me AP is brimming with confidence on the diamond front.

A prediction - next week we will get some seemingly positive news which will spike the price. New headroom authority will then be given at the AGM, following which there will be a discounted raise against the spiked price. Then we will find out the news wasn't as positive as we thought.

Should add that there’s no need to raise, and Yates was clear in the last presentation that as a significant shareholder he’s dead against discounted dilution anyway.

Yep, there are just over 121m shares in issue but, importantly, only 68% are in public hands with the balance owned by Directors (c18%) and long term (pre listing) investors.

So we have a low free float, huge Director alignment, long term backing, and are at the forefront of a growing market with massive potential. Any good commercial news here will, in my view, see the price rise significantly.

Short term prospects for that seem to me to be another Salistick retailer (I reckon Asda!), Salistick FDA approval, Loop trial results and UKCA approval, and Upfront Dx trial results, all of which could come by the end of this year.

Genuine question - the Directors own practically nothing in Vast, and as far as I can see all options are only exercisable at much higher prices than the current SP.

Notwithstanding the possibility that the Directors might not have free cash, is there any other reason why they aren’t buying stock, particularly given that I don’t think we’re in a closed period?

Thanks ASI. As you say, it would be lovely if ours were Aussie diamonds but they’re not, and they’re worth a lot less than people hope IMO.

AP said he knows their value, which is “sufficient for our needs”. Cryptic as ever….

Some big assumptions there Joey.

1. That we actually get the diamonds

2. That they’re worth what you think

ASI has put lots of useful info out about values, but I thought this was interesting too. It’s Q3 2023 results from a Canadian Miner - “ 478,653 carats were sold for total proceeds of $60.3 million (US$45.3 million) at an average price of $126 per carat (US$95).

https://www.newswire.ca/news-releases/mountain-province-diamonds-announces-third-quarter-and-nine-months-ended-september-30-2023-results-887141149.html

So, based on that, ours would be worth c$12.5m pre costs. But then we have to remember that these were diamonds from Canada, not Zim.

I wouldn’t be surprised to get some announcement saying we’ve got the stones (although not convinced on that), which will spike the price. Then new authorities to issue stock will be given at the AGM, followed by a placing against the spiked price. Then we will be told what the stones are actually worth.

Just my view.

Lol SS - just beat me to it…!

Hand presented at MEDICA - ABDX just posted this blog about it

https://www.abingdonhealth.com/lateral-flow-tests-past-present-future/

Loop also posted this - Candice is our regulatory expert so looks like we’re helping on that front, as well as development/manufacturing.

https://www.linkedin.com/feed/update/urn:li:activity:7130192001886543872/?origin=SHARED_BY_YOUR_PAGES

Interesting that 175k of sells just went through, but Stifel maintained the bid. Buyer in the background?

Yep, so they’re looking for authority to allot up to 1.26bn shares.

I just don’t understand why they split things the way they have. Just seems odd.

Para’s 7 and 8 in the AGM notice seek new authority to allot shares.

- Para 7 looks for authority to allot £160,000 at nominal value.

- Para 8 looks for authority to allot £1,100,000 at nominal value.

The text of the two paras is identical I think.

That being the case, does anyone know why the company didn’t just have one para seeking authority for £1,260,000 rather than splitting things out this way. Is there any significance to the way they’ve done it?

Apologies for my ignorance in advance!

This, from 2007, is the closest thing I can find to a valuation of our parcel at the time. - $2m. See the post script on the last page.

No idea how that equates to current value.

https://resourcegovernance.org/sites/default/files/zimbabwe_diamonds.pdf

Agree Apre - I'd also just add that its not just reactions from ABDX senior staff to Folium posts that makes me pretty sure we're involved, but also senior members of Folium staff reacting to ABDX posts on subjects like the process of taking an LFT right through the development cycle. I can't think of any reason they would do that unless the two companies were working together.

I don’t think AP has much, if any remaining authority to raise even if he wanted to, at least not until further authority is granted at the AGM.

Interesting that the company will likely receive further authority to raise at the AGM, the day before the current debt deadline expires.

Link didn’t quite work, so here is the AGM notice

https://www.vastplc.com/wp-content/uploads/2023/11/267186_notice_of_agm_final_a1.pdf