Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Lostsoul so you are taking a third party news story posted on Morningstar as fact when VASTs own RNS do not suggest Mercuria as offering the restructure funds.
if i was Mercuria i wouldn't be happy about VAST signing an offtake with Trafigura - what about their long standing deal and VASTs obligation to be repaying the debt from each shipment
And why, when VAST are desperate for cash dud they not agree an upfront lump sum from Trafigura fir the new offtake which would have been common practice
200 billion now is it David?
If you’re not careful then making up numbers like that may qualify you for a job as CEO…..
Any evidence provided by this PUBLIC limited company to justify either figure? Or is it top secret and has to be kept from shareholders
Kever surely your oh so previously accurate and real (sic) contacts at international diamond auctions can provide an update with the sale of the historic package?
Or is the Swiss investor another spectre to allow you try and get another trade away at others expense?
Some will remember your history…
Anyone can look back at the history of VASTs two tranche placings - the volume of pumpers arrives (who have got cheap placing shares as Axis clients) to stimulate some volume so they can offload for a 10-15% (more if they are lucky) - then as it closer to the second tranche being admitted they disappear leaving the new bits of confetti in the hands of the unfortunate as the SP sinks, leaving them underwater below the actual placing price
Maybe someone should ask why a CEO of a company with a claimed NAV of $200 million (where’s the evidence btw) has managed to destroy so much value in the company that now has an mcap of £2M still has a job?
Does that sound like an individual you want to trust and rely on?
Still a client of Axis then techguru??
The two tranche tango that AP has pulled off for years must have made you a few quid
Still not sure which is the most surprising- that he’s still is position or that nobody has stopped the whole two tranche thing - then again, another CEO might not have been able to keep raising ‘lights on’ money with ‘the next good bit of news will be good’ stories so maybe other companies do want to recruit his ‘special’ talents
Sandy unfortunately some people seem to want to live in an echo chamber - confirmation bias gives a warm snuggly feeling
Shame about the rest of the real world going on outside that bubble - maybe interacting with that gives a better sense of perspective
Btw thanks for being the one to try yet again to bring Stockportfred back to reality…. Maybe one day
Ifiknew - ‘plenty of possible news’
You’re right - there is outstanding news due re the below from the company’s RNS -
‘In order to show good faith towards repayment of the Creditors and to provide a possible solution to the Company in the unlikely event of enforcement of security in favour of the Creditors, the Company has agreed with the Creditors to request Shareholders for such additional authority to issue shares as will, at a margin to the current share price, enable the Company to raise up to US$9.4 million so that the Creditors can be repaid in full. The Company therefore is requesting Shareholders to approve the grant of authority to issue shares which, if issued, would raise sufficient to repay the Creditors should it be necessary to repay the Creditors by this method..
In addition, pending the ultimate receipt of the proceeds of the historic parcel, the Company requires a further US$1 million as working capital.
The Directors therefore propose that authority from Shareholders be requested to issue, up to a nominal value of £8,400,000 of share capital (equivalent to 8,400,000,000 Existing Ordinary Shares) (Resolutions 1 and 2), which if issued at par value for each New Ordinary Shares would raise £8.4million, or approximately US$10.5 million - sufficient to repay the Creditors and provide the necessary working capital together with a small additional margin..
The Directors would like to stress that the authority is required in order to give comfort to the Creditors. ’
Philosophical ‘Therefore when a relatively senior Rio Tinto exec. builds a stake’
What proof do you have the David Jones whom the TR1 concerns works for Rio Tinto - lots of people with that name so unless you have a conclusive link then I call that bollo@@s
Yes Wontongue I am fully aware of that RNS but the point I made was that VAST haven’t updated the website to show the revised- post consolidation number of shares in issue
Without personally knowing enough about PREM to be fair to that company CanMax must have had a high level of confidence over the size/grade/profit potential to offer that sort of pre-payment
The contrast to VAST who had to sign over first lien security over their primary asset as collateral for a (now noticeably past the latest of many repayment extension deadlines) loan is immense
Hawaii5O - on what basis are VAST and PREM peers apart from being AIM micro cap mining/resources companies - of which there are hundreds of other?
As you say PREM haven’t actually supplied any product or produced any profit yet so it’s actually their mcap which is the anomaly rather than VASTs.
The one obvious similarity is the number of shares that have been issued but if you back calculated by a factor of 600 (two consolidations) than VAST have diluted shareholders far more than GR at PREM
Bargain- seeker - what on earth do you mean by very little stock?
From the VAST website -
The number of ordinary shares in issue: 5,571,644,142 as of 6 February 2024.
There are no shares held in treasury.
Percentage of shares not in public hands: as of 6 February 2024, 0.63% of the Company’s securities were not in public hands.
So over 99% of shares are in free float
Shocking but unsurprising that they haven’t updated the shareholder information post consolidation - another indication of poor attention to detail