Member Info for Pecten11

Actually ignore my previous 'worst case scenario' below - why would they do that while sitting on so many warrants

Sandy, if playing devils advocate - what would happen if Atlas didn't issue anymore conversion notices until the two year anniversary and VAST hadnt accumulated enough cash to pay it off?
As Gkb says, they're into finance not mining, so dont think it likley (unless they had a buyer lined up?)

Gkb - see below ref the mention of WRES and Atlas conversion below nominal

https://www.lse.co.uk/rns/WRES/atlas-conversion-notice-vee13acd765p3ya.html

One thing I'd forgotten was the conversion was based on 20 trading days VWAP, so logically the would wait under March's little spike was out of the equation

As they get 1 warrant per share (@.24p) surely it's in their interest to maximise the number of shares they get issued, then sit on the warrants until their in the money?

Sandy thanks for an answer - re 'I guess Atlas are just less short-term in their financing policy, '
Though it appears to be a more direct CLN over on WRES, your suggestion above doesn't seem to play out that way there - that's one of the reasons I find their non-conversion here odd

Buko - thanks for the excerpts.
To be pedantic though ' Subject to certain terms and conditions and completion of CP’s', we have no knowledge of what t&c are referred to, or which precedent conditions need(ed) to be satisfied

Sandy - agree re your post
A default re Atlas would only occur if VAST didn't settle an interest payment or a conversion notice.
Vast would have to RNS any issuance of new shares, so it has to be assumed they are currently settling monthly interest payments in cash - why Atlas have not issued a conversion notice is interesting though - at the current SP ( yes the discount to VWAP would be under nominal value, but they achieved similar on WRES by agreeing a cash 'make up' payment), they would potentially benefit the most by any later SP rise.
Can anyone suggest a reason that is beneficial to Atlas to not issue a conversion notice at the moment?

Jake 'the flow tests were not at the max of the equipment'

That's called good judgement and planning. If the tests had been at the max, it would have suggested TXP didn't understand the reservoir potential - not the case here, adequate equipment with a safety margin - that's good management

Jeez, some people should check that their local water company can deal with the amount of diarrhoea being spouted.....

Thanks small - the actual RNS is better than my memory!

Iirc, the 50 million price re Casa, is total value, across multiple stages and royalty payments, with only a small amount of cash up front. As it's been previously announced, then it could be said that it's already included in the share price.
What may be different if the new party wants to pony up more upfront, with fewer ongoing liabilities

Lp - exactly. It's good news, but in and of itself, not a reason for rockets.
There are a multitude of Class 1 masks available, itsvupto the company and its PR to promote the point of difference of pro-larva masks

Gkb, well at least they found the problem before anyone got seriously hurt. Makes you wonder what Craig has been doing since they got access to Baita as he hadn't identified the risk of cracking - and that risk cant only be in long term exposed areas or they wouldn't be looking to backfill mix the new stores.
Emphasises the downside of the JORC only have a small number of 48mm diameter holes - the problem may not have been apparent from such a small amount of core

Max ' diamonds could spike volumes '

So could the discovery of a family of unicorns - seems just as likely

Gkb, yeah the pillar cracks and the plan to backfill with waste mixed with concrete suggests that all isn't rosy underground - maybe the increased mechanisation is also due to lowering the objective risk to personnel in such circumstances?

Max, why would they - what's in it for them?
I'm surprised they didn't take advantage of the last p&d to issue a conversion- now I think they'll have to wait for another pick up in volume, or they'll be left holding (which isn't their model) - problem is, based on the mining plan, there aren't any reasons I can see over the next six months to cause such an increase in volume - well apart from Twittee pics of the new kit arriving on site!

Jamesjohn, so if Atlas issue a conversion notice, how can VAST satisfy that - all cash is allocated to the mining plan.
They can only issue shares to Atlas - whether you call it a placing or a conversion, it still means extra dilution

Jamesjohn, Paul Fletcher said no more placings for capex - that's not the same as no more placings
As all the cash the company has is being used for the new mining plan, they will have no choice but to issue more shares when Atlas issue the next conversion notice

MarkSidley, so you want to correct other people posts - fine
Following on from the same desire of exactitude- have any of your posts been shown to be accurate??

Rob 'and the three other projects in Romania'

Tell me, what value was put on those projects in VASTs year end accounts ??
I'll tell you - nothing, zero, nada