Member Info for Pecten11

Wonder how long it will take them to remove the '1,800,000 tonne copper-silver-zinc-lead- gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area' part??
But I'm sure we've all got screenshots

Ben re the negativity

VASTs own website- under operations Baita Plai - https://www.vastplc.com/operations/baita-plai-polymetallic-mine/

1,800,000 tonne copper-silver-zinc-lead- gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area'

Today's RNS under Highlights
'Measured, Indicated & Inferred mineral resource category of 608,000 (gross)/486,400 (net attributable to Vast) tonnes @ 2.58% copper (‘Cu’) equivalent'

You wonder why I'm negative?????? FFS
Those exploration targets are gonna have to be meteoric (actually that could solve the grades!!) to bridge the gap between those two statements

Called in the big guns I see.

'So the life of mine at RR of 15,000 TPM is 12 years Minimum.'
Lee you know better than posting something like that - IF, stress IF all the exploration produces hoped for results then yes, the mine life could be extended to that but explorartion is imprecise and expensive.
If it was so easy and you could just assume everything is ok , then the JORC would be in the measured category - but it isn't it??

Max, no it doesn't.

It might have, but they havent got evidence for that yet

Sarah , don't know if I'm a good poster but, I'll have a go
1. 'The mine doesn’t have as long as hoped.' - that's based on today's resource statement, but it also outlines ways they hope to expand that
2.'More raises , more shares which will reduce value of the mine over the coming months'- who knows, they hope that cashflow from concentrate sales will be enough, but there are risks (and past history) attached to that
3. As the mine has limited time banks will look to get their money back quick smart so less chance of funding that we hoped for? ' - based on this 3/4 years mine life, imo, yes
4. good side, further revenue possibilities etc etc within the mine.- there will be gold/silver credits which should add value to the concentrate produced and they obviously know they need to expand the resource so have a plan in place

OK123 - that includes the exploration target, I.e. 'we think it might be there, but at the moment we got nothing to back it up yet'
Yeah, it great to have, but it's of an even lower level of confidence that an inferred resource

Caselogic - good point. Hooray

RobSaunders, not sure why I'm replying to you with your history, however, twoof the problems with this resource statement is, as I mentioned it's only indicated and inferred so a financial institution will only ascribe a small% of that inferred value - plus the kicker is this only shows a mine life of 3/4 years
So , if your a bank, your gonna want to make sure you get all your money back in less than that time

That makes finance very tricky

Dssloan- thats very true, it is just an initial resource and yes there are opportunities to expand that resource in future as outlined in the RNS

Stressful, that's great to hear - lol
from a poster with no history for anyone to know whether you know you ar$e from your elbow

TheShrimp- i wouldn't go anywhere near that

As you move from inferred, to indicated, to measured and finally proved in terms of resource the accuracy and confidence in the figures increases and thus the attributable value of the resource

That's why, after all this time, I'm so disappointed that there is nothing in the measured category

TheShrimp - as I said Craig is qualified to produce a 2012 JORC, but you cant say its independent

As you're obviously an expert Wiggly, how much of this resource is in the measured category??

What the difference between the 3 levels of resource in a JORC?

Baits's - Baita.
Autocorrect

Griffiths you have no idea what you're talking about.

Most of us were lead to believe that Baits's 'Aladdin's Cave' had a 6% plus Copper equivalent - this is sadly different

OscarGoldman - I'm sure the trade will be so large, we will all know it's yours - lol

Wiggly, it's not 3rd party validation

Craig is qualified to produce this report but works for the company ($180,000 per year), so not third party

Naughty, naughty
'Measured, Indicated & Inferred mineral resource category of 608,000 (gross)/486,400 (net attributable to Vast) tonnes @ 2.58% copper (‘Cu’) equivalent'

Er, no actually. Indicated and inferred - nothing in measured

Further re Blueberry

Financial assets, which potentially subject the Group and the Company to concentrations of credit risk, consist
principally of cash, short-term deposits, an available for sale investment in 15% loan notes funding the Blueberry
project, and other receivables. Cash balances are all held at recognised financial institutions. The 15% loan notes are
considered fully recoverable given the project prospects and are currently being marketed

Debt position

Non-current secured borrowings consist of:
• US$ 4,410,477 (2019: US$ nil) first tranche of $15,000,000 Convertible Bond facility issued to Atlas Special
Opportunities LLC. The Bonds are secured by a charge on the assets held by Vast Baita Plai SA (formerly African
Consolidated Resources SRL) which is the holder of the rights to the Baita Plai Mine and by a pledge on both
Vast Resources PLC and AP Mining Group’s shares in Vast Baita Plai SA. The loan bears interest at 5%, and a
10% redemption premium (calculated on the principal amount). The bonds are repayable in two years from the
issue of each tranche. The principal amount of the first tranche due on maturity is US$ 7,101,947. The difference
between the carrying value of US$4,410,477 and the amount due at maturity will be recognised in the statement
of comprehensive income using the amortised cost approach over the term of the tranche. This includes the cost
of warrants issued to Atlas Special Opportunities LLC at draw down which amounted to US$ 1.310 million and
other facility related costs.
• US$ 3,925,465 (2019: US$ 4,417,010) secured offtake finance from Mercuria Energy Trading SA. The loan is
secured by a charge on the assets held by Sinarom Mining Group SRL which is the holder of the rights to the
Manaila Mine and by a pledge on the shares of Vast Resources PLC 100% holding. The loan bore interest during
the period of 9.5%.
• US$ 25,738 (2019: US$ 43,449) asset financing loans secured on the underlying movable assets belonging to
Vast Baita Plai SA.
Current unsecured borrowing consists of:
• US$ 194,663 (2019: US$ 189,072) loans from the non-controlling interests in Vast Baita Plai SA, the holder of
the rights to the Baita Plai Mine. The loans from the non-controlling interests are interest free and have no fixed
terms of repayment. There is no expectation that this loan will be called.
• US$ 179,402 (2019: 309,635) loan from M Semere bearing an interest rate of 6%. There is no expectation that
this loan will be called.