Member Info for Pecten11

Sandy - a cynical thought re the rolling of August and Septembers figures - the shipping reason sounds very plausible, would have been even more so a couple of months ago in the aftermath of the Evergiven, but now things are normalizing.
I hope but sadly dont expect, that VAST will give a month by month breakdown so show production progress, but this will give an opportunity for obscurity

So forecast annual operating costs for BP around $12M to $12.5M. Plus corporate overhead.

Strange that as production is forecast to increase, the opex doesn't, even if wages were stable, processing consumables/utilities would have to increase pro rata?

Almost doubled his holding - good

Shame he felt it was only appropriate to buy at just about the market low (to date!). Shows hes good with money - his own that is!

Genius 'Its now a debt backed loan with no dilutive mechanism. '

Well apart from 12.5 million warrants issued to Atlas....

Restructure - good news - really had no choice, but good that Atlas agreed

However, 'The HOT provides that $1 million of the Bonds be repaid within 30 days from the Effective Date and that a premium be added to the par value of the Bonds remaining.'

Why not state the value of the premium to be added? How much? Embarrassed to say?

GaiasK - 'The options are a long list. A few I can think of instantly'

the question that raises instantly - If there are that many options, why haven't VAST been able to complete any of them?
Well, apart from the last one obviously....

InstantExpert, i think the coordinates are 39.0765° N, 6.0789° W

Iceman 'We have here a FULLY FUNCTIONING COPPER PRODUCER at £16 Million market cap.'

Apparently so, but VAST have yet to prove they have at both an operational and topco level a PROFITABLE business.

You can function at a loss, doesn't mean it's good business does it?

When they produce reliable and consistent verifiable results things should change -

Morning all, I only occasionally look in on Block, so not up to date.
What's the problem with this shareholder asking for this audit - surely if everything is above board it's not a problem, however, if there is an issue isn't it in shareholders best interests to know the truth?

Sandy 'Time to leave Vast behind...'

AP may have put weight on over lockdown but there is no need to be personal.......

Aladdin Resources - sandy now you are rubbing people up the wrong way.......

There is nothing here yet about oil flowing to surface - the hydrocarbons mentioned are gas until otherwise stated

Woof woof..............or quack quack

Though would have thought any power underground would be electric - there will be installed ventilation underground but filling it full of extra diesel fumes or carbon monoxide exhaust seems like a silly idea

My translation skills are worse than Giggle but could 'car' not be 'motor' - so could be a diesel generator or similar?

Thanks Sandy, good spot

So, as suggested the new long hole rigs are production only - longer, more precisely drilled blasting holes

Two observations though, first - slight concern that there was only one local company last year capable of doing the exploration drilling - availability (might explain why they havent RNSd commencement of drilling) and cost became potential issues.
Second, the RNS Sandy refers to, refers to core being sent to ALS for assay. That implies diamond drilling, which is slower but preserves more linear geological data, which makes sense as it's only 5 holes (approx average 320m length )each.
(And yes Sandy, I do not think think that's enough, personally I would prefer double the holes and half the length)

Ah something new to actually talk about - hooray!!

My understanding (may not be correct) was that the face drilling rigs were exactly that - designed to allow stand off, remote controlled precision drilling on a primarily lateral basis - having more power (speed) , depth penetration and obviously far safer for operators than using Jack hammers on the face

Whether they are flexible bits of kit that can also do much deeper, vertical or inclined RC drilling for sampling / exploration work I doubt - the links provided by Sandy, though helpful, sent appear to answer that question.
VAST must have had access to (owned or contracted) to an RC rig that would fit into the underground galleries to do the initial JORC drilling - they may have to expand the tunnels at drilling locations to get the vertical boom in place

So my take would be that, in theory they should be able to do the exploration drilling scheduled for June even if the first of the new rigs hadnt yet arrived - because it had been previously announced in the presentation than an argument could be made that this wouldn't need an RNS, though in reality, if it has started, then AP would have taken the opportunity to present a reason for positive momentum

Firwood - you posted 'The new mechanised mine plan, which requires no further funding for capex or opex, continues to progress encouragingly and the Board looks forward to providing further updates in due course'

I replied with a question - 'could you please explain your interpretation of 'continues to progress encouragingly '
Why, for example, doesn't it read 'according to plan's or something similar?

Also 'The new mechanised mine plan, which requires no further funding for capex or opex'
Why, doesn't it just say, 'VAST (or the company) requires no further funding for capex or opex' -

You have since replied to Sandy -' there is no point trying to answer Pecten11’s question, it’s just twisting words to suit an agenda, looking to put a negative to spin on anything to benefit the short position.'

How can I be twisting words to suit an agenda, when I was asking for your interpretation of those phrases??
How can I twist words you havent even replied with??

I appreciate that you may be a little underwater at the moment, so are a tad defensive, but being unwilling to actually debate points is unlikely to encourage other people to but VAST shares imo

Morning Sandy - what are you doing up early?

Yes, I know it’s my grumble, but it is just that, I’ve never said anyone has to agree with me - as has been said, that’s what a discussion board should be about

Sandy you know what I meant - but I dont want to disturb your Friday vibe -have a good weekend