Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
A. Hall has a tweet with the 3 points but it would make sense what you say because point 3 is something that AP has used in some interviews:
"We are silent because we have to be, not because we want to be. We are dealing with politically sensitive issues ..."
I am quite sure that he has used this before talking about Baita Licence. So not hold your breath for the diamonds. Hopefully this month.
Just copied a bit more of text ....
“The warrants (and warrant CDI) and the NRS are not consolidated but the entitlement of their holder will be adjusted in consequence”
BTW that is from Eurotunnel under french regulations:
https://www.getlinkgroup.com/uk/shareholders-and-investors/get-sa-archives/questions-and-answers/
Question 13
From AP statement when he became the CEO:
"I have of course been involved with Vast for quite some time, and my involvement in the Romanian mining and metals sector goes back some 26 years. One of my first business ventures in Romania was in the early 1990s as a bulk iron ore and steel trader, a role I held for almost seven years before moving back to Australia to develop a career in the property and earthmoving sector. Having built a successful business in Australia, I returned to Romania in 2003 to apply the skills I had developed to this growing economy."
Anyway you can read again the all statement for a good laugh or cry. He has not demonstrate any CEO skills yet, he has bring assets to VAST but not able to take any to production yet. I am in the hope that this is goig to change in the next months.
We didnt have the licence but we had at that moment the same information than today, all the information from Russian system, since then we have not drill anything in Baita for confirmation.
I would assume that DD was for everything, Carlibaba JORC was inexistent at that moment and if I remember well even AP said that Baita was necessary in production to pay back.
I doubt that Mercuria didn't do any DD in Baita before even think of lending T1.
IMO Baita will be taken to production and it will be a profitable mine. It was a mine in production not so many years ago. Mercuria did DD using SRK reports and decided to proceed with the first tranche. This is why I am still invested.
And yes could be more dilution, but like I think that the assets are good I also believe that Finance will come.
If I thought that everything was smoke and mirrors I would not be holding any shares, what would be the point?
I believe that was 2p that calculated that AP has had over $15mill to spend during all this time.
That should have been enough to bring Baita to production, buy and install Carlibaba new plant, SSGI debt paid off, ... and few things more ...
We have spent more money in just keeping the lights on during Finance negotiations than the money that we wanted from Finance.
We got now an III, cooler than an II, Invisible Institutional Investor holding around 6% of the company. These shares could have been forward sold and would not surprise anyone. IMO no way to be sure if the II is holding the shares or not.
SRK reports and Carlingford financial models that should give the market an independent valuation of the NAV of VAST Romanian assets. Main purpose of these reports was to bring Financial Institutions to buy in open market to appreciate SP. Unsuccessfully for now, I must say. The reports would be published for everybody at some point, IMO.
We got Finance coming for Baita that should start production this year. We have been waiting for months but IMO it should come. Except if we are waiting to get Diamonds to Finance everything together then better grab some popcorn for the wait.
Diamonds, there is a roadmap .... haha. They did say in same RNS that there was a roadmap but they don’t know when is the next meeting and they don’t know if they need to discuss more things or not, what type of roadmap is that? A Blank paper. If there was one we would have more info about conditions, milestones, etc. They have taken here same defence than when waiting for Baita Licence “we can not say anything because is political sensible information”, so shut up and don’t ask because we don’t know.
IMO finance for Baita is coming and reports will be published that alone should improve SP, I would not discard a placing in September though if this not coming on time. Diamonds is another matter but IMO we got a good chance but at this point nobody knows when.
I believe is a possibility. AP mentioned in an interview that Diamonds licence was the trigger for some Financiers, another way to say the same is that without the diamonds licence some are not interested.
Zimbabwe is a mess and it will be easier or lets say we could get better conditions if you can put Diamonds and Romanian assets all together, the SRK report probably will demonstrate that Carlibaba + Baita has a high NPV to be used as collateral for all the Finance needed. The problem is that if you use Romanian assets as collateral without including Finance for the diamonds then you would not be able to use them later.
Some people are saying that getting Finance for the Diamonds is easy, IMO any bank will take it as a high risk loan even if is to be paid in weeks once production starts but before that we are going to spend weeks or months fencing, buying machines, and whatever is necessary before start digging any diamond.
Is just an idea, I would be very happy with the Finance for Baita and payback Mercuria, if the diamonds arrive later we could sort out the Finance hopefully in a stronger position than now.
It could very well be completely the opposite, Zim gov will not grant us the licence till we have 5 or 10 millions... who knows?
Fantasy IMO VAST is interested in funding everything together and this is why I believe that everything is taking longer: we are just waiting for the diamond licence, just my opinion.
I could be wrong, it did happen once :-)))
IMO you are right in that the Chinese want to replace the president for another more friendly (with them). The longer that it takes to close the dial the higher the risk to lose it.
If the Finance is a complete package and hinges on the final approval for the diamonds then we could be waiting for a while. Nobody knows when things can move forward.