Member Info for Pecten11

Iceman, though this may not be infallible - do you know the easiest way to spot a ramper??

see how many exclamation marks he/she uses........

Onaplate, you may well be right and well done to him

Mind you, someone who goes on about retail shorts on a VAST bb really doesn't have a clue.
Genuinely, can anyone actually open a short CFD position at the moment? I've got no idea so would like to know real answers

bunsenburner - bonds fall due for re-payment - it means that unless Atlas agree otherwise, VAST have to pay them $6.5M (possibly plus about 20 months interest) which they currently don not have.

If they fail to do so, then Atlas as the mortgagor, have the legal right to Baita Plai

Yes bigsmoke, it would be called refinancing.

Sadly VAST have a very chequered history wrt to finance - after all ATLAS is mainly a refinace of Mercuria (only partly in their case) and Southern Sahara, but on worse terms for shareholders because of its convertible nature.

You say the company is growing cash generation, but the board admitted in the InvestorMeet call that they wouldn't have enough cash to pay Atlas by the end of January unless they refinance, so even if VAST are producing more concentrate and getting it shipped, it isn't enough.
So the closer we get to the 29th, the greater the downside risk grows that VAST will default and Atlas would have the legal right to the asset

Gbjoe, sorry you are not upto date

As RNS of 25th Oct
Corporate Finance

Restructure of Atlas equity linked convertible bond ("Atlas Bond")
On 10 August 2021, the Company announced the restructuring of the Atlas Bond subject to certain conditions which, if satisfied, would have converted the Atlas Bond into a fixed non-equity linked loan but with a premium on redemption and with additional warrants at 16p per share. The Company has to announce that the conditions of the restructure, outside of the control of the Company, have not been agreed between both Atlas and Mercuria, and therefore the status of the Atlas Bond reverts to the status quo ante as an equity linked bond in accordance with its original terms.

In other words, the bonds fall due on 29th Jan

Safety, maybe that's why gug posts?
He has admitted that he doesn't own and would never buy any WRES shares, maybe BlackRock take care of him for increasing the PIK shares?
Highly speculative of course, as that would be tantamount to market abuse.....

Come on Riski, there must be more lines from the pumpers almagnac that you could add?

Even if and it's very big IF, the debt to Atlas due on the 29th Jan is sorted, it would only be replaced by another lender / convertible loan note or a massive placing. So even in the best case, it would be another round of can kicking down the road imo

'5p and beyond'

Are you a low rent Buzz Lightyear ??

Late pump to try and get the 2.5p placees out with their shirts ??

'You must be a bundle of laughs on a night out ;-)'

Pot calling kettle, pot calling kettle.........

SelfMade 'precious metals are massively in demand at the moment.'

VAST only produces modest amounts of precious metals, which are shown as credits in the the copper concentrate

Copper itself isn't a precious metal

Damn autocorrect 'they're' = their

Woodster 'you think they could have bought 10% of the company on the open market below 5 pence - get real!!'

On the basis of your post that implies there would have been enough demand/not enough sellers to allow these shares to have been bought on the open market.
Isn't that contrary to the bull$××× that impi and goingunderground were trying to imply when suggesting 3p

Havent you been read in on their negative agenda this morning - after all they only ever post on the WRES board- strange behaviour, as they have both admitted they have never held and have no intention of buying any WRES shares.
Perhaps they should inhabit a board for Pilkington Glass - they're transparency might be more appropriate.........

So gug, as you are so keen on accurate maths, what % upside does the Shard 19p valuation offer from the current SP?

Happy New Year Year to you too - are you going to have the courage to confirm the accuracy of my third paragraph or just meekly avoid it?

Gug 'Leave it until the week after and you'll be buying in the 3's IMO. (But even then I wouldn't be hasty)'

Will that be another of your posts that you ask admin to delete when its wrong - so it doesnt show on your posting history

To be clear to anyone who looks in on this bb, you admit and accept that you have stated that you don't own any shares in WRES, have never owned any shares in shares in WRES and would never buy any shares in WRES. Correct?

Iceman 'Its alot of money... He was buying when the price was 3.5p or even higher. Easily more than £500,000 !!'

If your statement is true, then at today's price, he is showing a loss of around £160000 - hardly a glowing recommendation of his judgement

Iceman, Shaun is the only major shareholder (not counting AP)

Good question, why would he buy over 6% of the company? Does he have access to information that that the other shareholders who have sold dont have? Or are they all wrong and he is right? Can he afford/need a tax write off? Why havent all the board made very significant share purchases while the SP is so low - Craig's pitiful holding is a concern
Why have VAST never been able to get traditional finance?

Well AP gets another 3 years, will VAST get another 3 months??? Or 30 days for that matter......

13+% spread

Whether you want to reject AP or even re-elect him, make sure you vote/contact your broker

Being unhappy with what's happened to VAST but not taking the opportunity to do something about it would be illogical

Don't accept a proxy decision - VOTE, VOTE, VOTE