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Angus - Pretty important one IMO when trying to analyse different people’s opinions. I also didn’t say that it should be all happy clappy. That’s not been my approach. I agree debate is useful and productive. But you have, as you stated, not answered my question because you think it’s irrelevant. Dodge - your first 4 paragraphs weren’t addressing my question at all. That’s your summary/ view on Vast’s situation and outlook. In your last paragraph you’ve actually attempted to address my question. The fact that this BB exists, losses to great to sell, and hope are your answers. But I don’t think that answers why they spend time continually posting on the BB. It may explain why they still hold (a pretty poor investment strategy IMO if you have those views). Also on a separate point do you still hold Vast shares? Your post suggests you do?
Can anyone who is both very negative of Vast’s current position and it’s outlook rationally explain to me why they spend time (excessive in some cases) posting on this BB? Genuinely interested.
I have no doubt you know a lot about mining. You used to be actually very positive on the fundamentals of Vast’s assets. Following the issue of the BP license and drop in sp your tune has change completely though. Not only on the actions of the BoD (understandable to some extent) but also and more importantly on Vast’s asset base. So when were your shared insights honest? How do you rate Vast’s asset base now? I think it would be helpful and appreciated by this BB if you would share your insights given your background without the emotional baggage from the last 3-6 months. The fact that you’re still monitoring this BB and posting frequently is giving mixed signals with the content of your current posts and conflicts with your previous ones. Cheers
Only the second time I’ve done that. Feels good :)
Dodge - what is hilarious is that it has taken you probably the most positive RNS Vast has received this year to a) sell b) increase the number of your posts on this BB substantially with a clear agenda of trying to negatively impact investor sentiment c) actually flat out lie are just make stuff up Some of the points you make, like others on here about Vast’s situation, may actually be on the mark. Which AIM listed SME doesn’t have growing pains or has made mistakes? But the problem is it’s just mangled into a rant with a very transparent purpose. Debate is helpful and healthy. But it appears to me that some are forgetting they invested in a junior miner who operates in two high risk jurisdictions and was pursuing an aggressive growth strategy. That wasn’t exactly concealed.
Fantasy - I think the sp was 0.525p when AP took over :)
Piker - no one can be sure of decision making in the future. I actually think it’s increasingly unlikely that the Company will be in a cash position where it needs to consider such high risk options. In regards to pursuing other options AP’s hands were tied by the Mercuria and SSGI deals so the only real alternative was to raise equity which he should have done. Mercuria are a useful strategic partner, I wouldn’t doubt that. Their offtaker terms are considerably better than previous deals. With T1 already draw down I can empathise with the BoDs situation. But by trying to avoid dilution and pursue Bergen he did exactly the opposite and pushed the sp down to the depths we’re at now. Big mistake, Anyway I suspect if what is playing out now on diamonds and funding comes into fruition (looks likely IMO) we will all be a lot happier come Q3
Good post Sandy. My views are aligned with all those points apart from the fact that I think AP should have mitigated T2 no -completion risk better (not an easy decision with shareholders screaming for no-dilution) and once it played out stayed a million miles away from CLNs. That’s the past now though and completely pointless to dwell on it.
Piker - I agree it would be helpful if they did that through the official channels
Haha I don’t think you’ve quite understood Lee’s message Dodge
Bingo
Welshie - you are spot on. TBTT - really... is that the angle you’re going for here? It’s getting a bit embarrassing for you to be honest.
Fantasy - think that’s a fair post. I agree with what many on here are saying about needing to get funding sorted for this to rerate.
Batfink - it’s all about funding, get that sorted and the market will believe everything.
TBTT - also you’re not recognising the obvious route which is for Mercuria to be repaid and the assets refinanced as part of a new funding deal. Would make sense if they are not in it for the bigger assets and being our ‘strategic partner’. $4m really is peanuts to them so why bother having it on their book. Clean break for Vast and them. Anyway all will be revealed soon. Who knows, you may even buy back on ;)
TBTT - haha good to see that you’re very much still interested here. Correct me if I’m wrong but isn’t Mercuria’s security really in the form of warrants?
Let’s see on the funding point Batfink. Agree that needs to happen swiftly and there are no excuses now... Diamonds look close to be fair. If I had to guess I would say mid May
Very interesting month ahead for Vast. Following the expected approval of the PP and SSGI deal can AP and the Board seal the deal on diamonds JV, OT financing and ultimately getting the ramp up of BP and Marange operations secured and completed within 6 months. I’m optimistic. The market’s not buying yet.
I’m inclined to agree with you Fantasy
For what it’s worth I think the deal proposed to shareholders is the best way forward from our current position. To have to sell PP at a discount is not good but the transaction does clear the way for soem very important deals for BP and Marange. The BoD will have no excuses now. When this gets approved (it obviously will) and IF they follow swiftly up with OT finance and full commercials for diamonds the mood on here will be very different. Been quiet for a while on here as we’ve been in limbo. Mistakes have been made but at least there is a clear route to hopefully realising value from the portfolio. Let’s see if they can do it. Big sp mountain to climb but this is AIM after all. GL everyone