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I have to agree Coxon, a placing is imminent..
Capstone may or may not have sold, but someone is selling.. in chunks..
Is it....? Because the current share price and way it slowly went down PM suggests its a sell.. another 5 million sell.. of which there have been lots of late..
.. one other word of note today, I struggled to accumulate 2 million more over the passage of a few hours.. selling (if I wished..) didn't seem a problem..
Something and nothing with low volume.. and then you get the 1 or 2 x 5 million sells at the end of the day (were they sells..?) - so struggling to accumulate today, could sell 6 million in one hit this morning..
Like I said just tosh really
I think we need to look at the Baita figures again ti remind ourselves how far the mine has come, to the cusp of profitability, all be it for the month of June or July, copper conc grades back on the increase and costs much lower that I first believed, although I am still skeptical about running a mine at such costs with a 'ramp up' of production in the works.. the more you mine, the more it costs in manpower, equipment electricity, diesel etc to mine.. figures please Mr Prelea..
Works out at about 17.5million shares short.. I have close to this myself now, as I've both traded and added from 0.5 downwards.. I was questioning late last year if I was doing the right thing but Vast came good.. Will it come good again, its all about the debt call now, I don't believe diamonds will be here anytime soon, so why only the small extension..? This was either all that the creditors wanted to give, or (and this is a much rosier option..) all that AP needs to prove profitability at Baita..
If the next set of figures are not all we hoped for, then the cash call will erode this price to below what it was when it began its rise at the start of the year.. and even then, the bleeding won't stop until the debt is restructured.
This debt restructuring will happen imo, but at what cost to Vast..? The companies assets are worth monumentally more than the current mcap, but we are here because most think that Vast will both a) not get diamonds at all, and b)are on a dangerous death spiral because of its current debt.
Current debt almost = current mcap - ridiculous if you look at it like this, and let's face it $8 million although a drag on Vast, is by far not the biggest debt I've seen in companies, especially minecos. it's relatively small.
The share price has eroded very quickly in a short space of time.. it still would suggest a placing, perhaps with news on top..or, another concern would be that Baita has been closed or partially closed for a period of time due to investigations into the fatality (should be rns'd??) and others have got wind of this because then there is no chance of both Nameplate or profitability this year..
The board have been very quiet.. I hope the next news is good..
And it will be walked lower until news.. 0.2 incoming.. back to where we were at the start of the year..
The debt needs to be dealt with before this reverses the trend
Still 3 weeks or 15 trading days until end of month... where are we going..
0.2 or 0.4..?
I fear 0.2, but also think way oversold...
... surely now its time to realise that the next placing is happening or has happened and will be announced imminently..
I'm long on this share, but not stupid and realise that Vast will need funds to push on until positive news release..
The 2 sells today, tell the story on a now low volume share..
Let's hope so IQ.. this has been swing traded to death lately
..?
Baita will not get shut down.. its under a different subsidiary to Vast co.. so will likely just change hands and continue with shareholders left with nothing in that case..
But this imo is very unlikely, should Baita begin to show a profit.
Tajik is bewildering as any permit issues should have been foreseen..
Time would seemingly be running short.. beware of the spike!
Alternatively they sell Baita (unlikely as APs jewel in the crown), having proven up the resource and providing cash reserves, to another mine co. with Mercurias approval... for Β£100 million π enough to pay down debt,.open Manaila, zim mine and more, plus buy back all but 100million shares in the market..
This group over the last few days has decended into chaotic misery..
The diamonds will come when they come, if you are here just for them, then I suggest selling as soon as because, again in Vasts own comments, there is or was no legal road to the recovery of the package, and with no official timeline in place to gain the diamonds, it could happen tomorrow or never..
So, that leaves the Β£8million + debt, which will surely need to be restructured and refinanced very soon.. this could be via a Joint Venture with another mine Co. It would, of course, be much easier to gain said funding or financing if the diamonds were received, but we are where we are..
Baita could, and should be turning to cash positive month on month going into Q4, although there are still some 'pie in the sky' figures that we could all do with seeing in the flesh..
Tajik - we need to a) be told why there is a hold up still on the permits and b) when first royalties will be received..
Zim - diamond mine concession via a joint venture is seeming to be more likely than not, but imo still way off into 2024..
Manailla - Time to get this mine going after cash surplus announced at Baita - the knowledge gained from getting Baita into profit will be valuable, as Vast can then put this to work on Manailla hopefully saving costs in the process.
So, this is what we've got to look forward to.. and talk about.. not sending wild emails to people who will probably not even open them.
You will receive no response! Vast has told us what is holding up the parcel, zimgov and zimbank.. plus there is no official legal process in place to get the parcel back.. this is what Vast is working for, a timely process with, in Vasts own words - no official end date..
Thoughts....?
https://www.newsday.co.zw/theindependent/local-news/article/200016047/vast-share-price-plummets-on-london-stock-exchange
Not sure if this is how it's written in Zimbabwe.. but the report doesn't seem to have the right wording.... π€
Vast Can't and Won't raise to pay down their creditors.. this extra time is being used to secure external funding against Baita Plai.. diamonds are way off..
I believe that Vast have had enough of being tied to the 'stigma' of diamond-gate.. and are now telling all to concentrate on Vasts future projects - Baita, Tajik, Manailla, Blueberry, zim and more..
The problem then lies with the short time frame Vast has given itself to repay the creditors... either something big is in the pipeline other than diamonds to allow themselves to get out of this debt problem, or its all pie in the sky and this share will go down to zero... sounds very unlikely to me, but still a possibility π€
I'm going to put this out there and say there's a JV in discussion about mining in either Romania or Zimbabwe... π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°π°
There have been a fair few 2.5 / 5 million sells over the past few days...π€
Could there be yet another placing to cover costs of any agreements..?
Well spotted Buda... strange that..you can mistakenly omit it once, not twice.. somethings afoot π€
I would have to agree with Pecten.. Vast are very vague with any info they release... 'Break Even, in June.. how does this look in terms of figures? Diamonds on the cusp of return since February, Tajik loyalties supposedly from May..
Diamonds being touted as $400 per carat..?
We need more realism on here.. and that looks like Baita possibly being able to make.money some time in Q3 or Q4, Diamonds with no real timescale of delivery, which has been noted by vast on rns, and Tajik loyalties being held.uo by export permits etc..
And finally the heavy burden of debt hanging around Vasts neck like a noose ready to be tightened.. I believe terms will be arranged,.but am.unsure about costs - more dilution..? Probably, but one way or another the end of the diamond saga will.l be upon us by the end of this year imp.