Member Info for Pecten11

An apology from me saying appraisal rather than exploration - temporary screw loose on my behalf

So is the companies own website out of date (wouldn't be the first time) or has he not been put upto a vote?

Current membership of the Board is as follows:

Name Role Appointed
Paul Fletcher Chief Financial Officer 08-Nov-19
Craig Harvey COO / Technical Director 01-Mar-18
Nick Hatch Non-executive 09-May-18
Brian Moritz Non-executive Chairman 06-Oct-16
Andrew Prelea Chief Executive Officer 01-Mar-18
Roy Tucker Executive Director 05-Apr-05
All the Non-executive Directors are considered to be independent.

All the Directors are subject to re-election at intervals of no more than three years.

The table illustrates the success of the Board in refreshing its membership.

Sandy, 'The company is a fiefdom. He can barely be removed and has no incentive to go that I can see.'

I agree and with rest of the post re the NEDs

However, something I've been stewing on, according to VASTs website Prelea was elected to board on March 1st 2018 - have I missed the point where he was up for pre-election (three year term)
https://www.vastplc.com/corporate-social-responsibility/corporate-governance/

Drilling at an angle will provide longer intercepts than a vertical (unless you run out of mineralisation)
The hypotenuse is longer than either if the other two sides of a triangle

I would suggest the cemented completion was to avoid more issues with the well ' borehole enlargement where washouts have occurred in the open-hole section.'
You wouldn't go forward with a full well completion while you're still evaluating data - it would be unnecessary cost.
Imo the cementation is just a prudent move to allow PRD to get as much data from the well to improve the chances of the next drill - that's what an appraisal well is for

How on earth can this market cap be justified on known facts??

Senokot?

'Donald Trump was the saviour who was crucified for not fitting in with the narrative of the nay sayers,'

His problem was he believed the narrative was important and facts were not - is that what you think Firwood?

Sandy, I had no idea that was how they consummated business deals in Romania.........

Onaplate, Sandy - good spot.
I'd looked at Atlas Capital Markets Ltd as they were names in the original bond RNS - which suggested the money was coming from them(not the JV)
As the LLC is a JV with Arena, I would have thought AP would have made a much bigger deal about it

Sandy, interesting coincidence (?) that just after I highlight the situation re SPAngel, another broker appears as if on cue.
Still dont understand how Beaumont Cornish appear not to have guided VAST to RNS the fact that one of their declared advisors had ceased to act on its behalf
Surely that must be considered 'material' news?

Mr8008, in effect Mercuria gave VAST a commercial loan (in this case called Pre-payment finance) with its associated interest costs.
As they are a multi billion turnover commodity trader gave them a potential source of copper concentrate which was meant to have been supplied from Manaila (now on care and maintenance)which, as middle man they buy from VAST at a discount to the prevailing price (we don't now how much, whether a %, or a fixed dollar amount) to sell onto third party refiners
They carry little risk, Vast still owe them the outstanding balance (between $2million and $3million) - in my opinion, Mercuria appear to have been remarkably patient considering the problems Vast have had

Mr8008 - no, you answer my question first. Yes or no

do you now accept that In addition to Atlas, Vast also owe at least $2million to Mercuria?

Just looked in - great news Prodigy
All the best for the recovery - 74 plus thumbs up - a new FRR record I think

Mr8008 - no, you answer my question first. Yes or no

do you now accept that In addition to Atlas, Vast also owe at least $2million to Mercuria?

Mr8008 'I did not understand clearly.'

That's ok, we can all learn new things..

So a simple question - do you now accept that In addition to Atlas, Vast also owe at least $2million to Mercuria?

Sandy, my $2m figure was based on the debt figure of $8.6M minus Atlas tranche 1 of $7.1M (though at the time covered by the interims $500k had been converted thus leaving 8.6 minus 6.6 (7.1 minus .5) leaving $2M to Mervuria, though as you point out with fees, costs and interest, that could become a liability of around $3M

So you're now saying VAST still owe Mercuria $3 million ? In that case I was wrong - I thought it was only $2 million

You should know companies accounts information shoukd be available from their website

https://www.vastplc.com/wp-content/uploads/2021/01/interim-results-oct-2020-final.pdf

Mr8008, in VASTs own interim accounts for 6 months upto end Oct 2020, $8.605 million is listed as secured borrowings.
If you choose to believe that debt is not to Mercuria and Atlas as others have pointed out to you - then to whom else does VAST owe money?