Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Kever.. I've read this.. several times, have heard this all before.. ie 'we don't foresee the need to raise again' and 'we need to show our creditors that should we need to, we can pay back the loans' to then use the headroom for ongoing operational costs..
The board can no longer be trusted to do as they say... and investors bo longer believe what is being said which is why we are at 0.07p..
What have you done Genius..? Gone and got yourself the go ahead to pump this into the end of this month..?
Although I'm crossing all my fingers and toes for them to arrive.. I don't believe they will this month.. which means Vast consolidate and move 'quickly' to dilute.. I'm.not even sure Vast will either be able to realise $10 million in equity or, then, do the right thing and pay off the creditors!!
We've been here before where Vast got headroom authorities to ca creditors fears and what did Vast do... squander it all on placings..
The current business model doesn't work, hasn't worked for years (many many placings) and now all AP and Vast will do is start the same.process again with empty promises to boot...
What happened Euston?
Has anyone tried to email him this week? If so, any success?
A large part of these 'losses' were down to Capex on Baita mine..
Don't get me wrong, I'm all too aware that Vast will need further placings to keep going until group costs are covered, but that is where the bulk of the monies are going..
Gord_1 where did you get your costs base from please..?
By now, Baita WILL be contributing around $300k, perhaps more with higher deliveries.. and with the efficiencies put in place spoken about in the last few rns, the costs base will be further reduced plus allowing greater volumes to be mined, milled etc.. the part we don't know is how this is filtering through to sales.. at least $300k (based on rough cost base, but this could be lowered) ti break even at Baita..
As for the rest of the group, there is no way it's costing $1 million per month to keep going.. unless you have proof of this of course..? It has been 'roughly' worked out in the past (thanks Sandyshore..) that Vast cost base would sit at around the same level as Baita Plai - so $300k plus $300k = $600k per month.. but we are forgetting that both pgm & Tajik monies are beginning to arrive.. how much? Again, we can only surmise..
To sum up, Vast are still loss making, but the bulk of the monies you speak of go into Capex, improving the mine etc, not necessarily keeping the lights on..
Legalease.. how are you reading this..?
Santi - again, the diamonds not being received is already being assumed here.. you are assuming that the mcap is only made up of a bag of gravel.. ridiculous, and as always, your comments are as see through as glass.. 🙄
Prior to this rns there were a couple of days of indifferent trading, and I thought that we were in for an update.. just not this one quite yet
I don't get the events leading up to this, such as why not do this last year when the share price was much higher? Why come to an agreement with mercuria, spend time and effort doing so, and then come out with this rns? What happened to the institutional investors? Why change the goalposts at Baita? What guarantees will investors have that Vast will indeed pay off creditors and not squander the Placing funds again? Where's the plan for 'what next..?'
How can people vote for a resolution if they haven't got all the facts and the deck is seemingly stacked against them?
I've held through all the drama of last few years, adding, trading.. but there has to come a time where the line must be drawn..
I expect AP to come out and make a podcast or two before month end in an attempt to smooth over the cracks, but if he doesn't even do that then he must categorically go.. just go.. more information is needed before a 'yes' vote is given for the egm on 29th..
Feeling frustrated right now, as imo there is an opportunity for this company to do really well.. it's just my timing that's out..
I stand corrected on this asi.. that is bot even worst case scenario imo,.as it will be assumed that any placing price would be at no discount
Also, another thought.. Vast Mey well need to show to 'potential' investors that they mean business, and that they are a debt free co.. and thus encouraging companies to invest..
Watch for the podcast in next day or three.. AP will need to calm the storm..
One things for sure, Vast will use the headroom they will be given.. I hope to pay off the creditors this time.. and not squander further opportunities
That doesn't look right asi.. redo sums..
This was always on the cards...
I agree with Steward, in that once the debt is paid off in full to both creditors, Vast can then concentrate on business attributes such as Baita production (not far off break even at a little over 500dmt per qtr Vast need to SELL), Consultants fees and management fees and renewing thr license in Zim..
Maybe a jv on Manaila with our pgm partners could then be possible going forward...?
All imo of course..
Not necessarily sant.. Read the report again and dont bother commenting unless it's constructive
Nookie.. yep.. looks very much like it's being positioned for a move.. maybe this week or next..
No doubt from last weeks pump.. there will be another in due course.. this week or next.
Common sense prevails in the end..
Imo the only way to 1p and sustaining it, is through strong fundamentals of the business and evidence that the working mine is beginning to make money.. both seemingly way off atm
Asi has been right about Vast issues.. and of diamonds (lack of) so far.. dont over estimate their value, and don't pin all your hopes on them here, they have already been used last year for placings keeping Vast in business long enough to show the world that Baita can be the monster it once was..