Member Info for Pecten11

I posted this yesterday but would value any comment / logical explanations re why the placing is in two tranches .
It wasnt conditional on a shareholder vote, so why ?
What or who benefits from doing so?

Application has been made to AIM for the Placing Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM (‘Admission’) in two tranches. It is expected that Admission will become effective and dealing will commence in respect of the issue of 755,587,515 of the Placing Shares on or around 15 December 2020 (the ‘First Admission’) and that Admission will become effective and dealing will commence in respect of the issue of 2,916,063,924 of the Placing Shares on 23 December 2020 (the ‘Second Admission’). The Placing is conditional on Admission.

Following the First Admission, the total issued share capital of the Company will be 18,060,156,715 and following the Second Admission this will be 20,976,220,639.

As the placing didn't need a shareholder vote, can someone please suggest a logical why this (and at least the previous two Axis ) placing is being done in two tranches??
It makes no sense, unless 'someone's needs a bunch of shares by a particular date - to close a position??

'Application has been made to AIM for the Placing Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM (‘Admission’) in two tranches. It is expected that Admission will become effective and dealing will commence in respect of the issue of 755,587,515 of the Placing Shares on or around 15 December 2020 (the ‘First Admission’) and that Admission will become effective and dealing will commence in respect of the issue of 2,916,063,924 of the Placing Shares on 23 December 2020 (the ‘Second Admission’). The Placing is conditional on Admission.

Following the First Admission, the total issued share capital of the Company will be 18,060,156,715 and following the Second Admission this will be 20,976,220,639. '

At the current SP it’s not exactly a convincing show of confidence- ten times that and you can portray it as positive - this amount is a token

GLA with the news today

But for pity's sake, please don't engage with magmanus - anything useful will just get submerged under a flood of detritus

JulianM - quite possibly.
Maybe they had to get the raise through now, cos if they'd waited until after the bank refused the SP would have been lower to start with, then discounted further

I'm guessing that the bank (if it really is tier 1) have insisted on a condition re financing that VAST commit to an extensive drill program to update / increase the detail and confidence in the JORC and that's what the money is for
After all - the current JORC is only indicated and inferred for a 3-4 year mine life, which probably wouldn't be long enough to repay the debt - and before anyone goes on about the exploration target figures - have a look into what value pennies/pound is attributed to such targets? Its nominal

Chris hutch- 'So many have said reasons why it wouldn’t - so if should suddenly get its go faster shoes on and take off you can expect some laughter from me.'

Are you laughing now?

Dvh - do you understand know why people have been negative about comms, clarity and BOD?

This might have even come as a shock to AP(in which case he is blind) - feel the force of dilution Andrew

And the third time that with an Axis placement there are two ad ission dates but no explanation - first tranche to cover those in the know who placed a CFD/spreadbet perhaps??

Morning fella - hope you are well

I'm no TA expert so could you have a shufftie at the chart for BOD - I think it looks good but would appreciate a wiser (or at least more wizened!!) view

Golden cross of 50 day sma about to cross 200 day sma is considered bullish is it not?
Not oversold or overbought to space to go on a run with further details of the new Marsfontein blow expected any time over the next few weeks
Thoughts?

BillB, while there is truth in that, it's also true that if you don't learn from history, you can keep making the same mistakes

Tiger - greetings

Forgive my ignorance but is that an RC rig doing the work?
Doent look like a lot of pipe on the trailer, so suggesting relatively shallow depth?

Said this on 18th Nov
‘ The RNS when it appears will probably say something like 'the revenue received supports the companies already published income forecasts'’

Antharry, shouldn't that be - the same good news has been coming thick and fast....

FordLane - er Johnny was replying to Sarah not you

Why don't you tell us what you think the shipment will be worth and why?

Cheers antharry - I'd actually thought it was just the environmental we were waiting on but checked back against the 12th Oct RNS and added the technical but then didn't read forward to the 26th - doh
I don't think we've been told about the outcome of the environmental inspection yet

Sarah, you're probably in the ballpark (ish) - I'm guestimating around $800k or £600k
You never know, maybe the delay has been structured to increase the volume do AP can boast about a $M dollar shipment - makes better headlines!!
Whether that deserves to move the SP after it's been trailed for so long is another matter - if a Twitter crew drag some of the hard in then maybe- but there's still a massive chunk of shares that were admitted last week to get churned cos volume (well in VAST terms) hasn't been huge since
The interesting bit will be how much info is in the RNS - will they include the following -
-%grade of the concentrate ( assuming it is just copper this time) (maybe)
- price paid per tonne (doubt it)
- Actual weight shipped (probably)

Maybe will include update re how the mine/plant is performing and if/when/how much is targeted for the second shipment.

Looks like until VAST prove that this will be a regular occurrence then doubt will still exist.

Anyone else notice that we havent had any feedback since Swiss Toni had the technical and environmental inspectors in Baita as part of the due dil - considering the recent quality of RNS that been released you think we would have been informed if all was ok

Botswana becoming famous for BIG diamonds

BOD’s predecessor African Diamonds plc (‘AFD’) which developed the AK6 deposit, now the world-famous Karowe Mine, in Botswana.
https://www.bloomberg.com/news/articles/2020-11-11/one-of-the-biggest-ever-diamonds-has-been-found-in-botswana?utm_source=twitter&cmpid=socialflow-twitter-businessweek&utm_content=businessweek&utm_medium=social&utm_campaign=socialflow-organic

Diamond drilling ongoing at Marsfontein / Thorny River

https://twitter.com/BotswanaDiamond/status/1331257636474544132/photo/1