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The intention of SRK report always was to get the attention of potential high net worth investors.
I am not sure if VAST is obligated to RNS the report, if is not mandatory then VAST can decide to pass it to who they decide is convenient.
SRK report is based on information that was passed to Mercuria, by SRK, before to sign the contract, same information was passed to the swiss bank, AP mentioned this, ... a lot of people would have had access to this information.
It could be some big hands accumulating here but for what I have seen there are a few Twitter accounts with a considerable number of followers that have said took a position in the last days/weeks. It has surprised me in the last week so many new people talking in Twitter about VAST.
Sandy. Yes, maybe you were correct. Don't get used to it :-))
Anyway I believe the important news is the Finance arrangement for at least Baita, Diamonds would be awesome but I got the feeling that this is could take some time.
hoffy. I agree that we probably are we going to get the Finance but the credit history of VAST is poor, very poor.
We couldn't pay on time to SSGI a couple times that I remember, when we where negotiating Mercuria first time, also we couldn't pay when T2 didn't come. We have not pay basically anything back to Mercuria T1. I am not a Finance a guy but not paying on time is not good.
One good thing, and I have said that here before, was the acquisition of two new guys to help with the Finance.
My point of view is that even if Finance doesn’t come the company could consolidate and make a placing to finish commissioning Baita, it was a mine in production and we got the Licence. I believe that shareholders will support the placing better than keep waiting for Finance with small placings every 5-6 weeks, we are suffering death by 1000 cuts. Baita running should provide an important cashflow and that would open the door for Finance new projects.
AP obsession to avoid placings when the mcap was £30m was a big mistake.
Finance is not going to be easy for VAST, and good Finance probably impossible with the company “credit score”. Good assets but very bad Financial history.
Even a placing to get the new plant at Carlibaba instead of all the small upgrades and new trucks, etc. That has been wasting time and money in something that never was going to be productive.
I honestly believe that Baita + Manaila-Carlibaba in production should provide a good stream of benefits for the company and probably open the door to more Romanian assets.
My top up is just to lower my average, I risk a bit more money but it will give me the opportunity, if I decide so, to leave breakeven with a lower sp.
Yes we know that AP is very convincing and he always will hint that news are around the corner, even if he knows that this not the case.
It has been more than 6 months since Mercuria T2 was denied to VAST.
AP had the opportunity of prepayment Off-takers but where very expensive, he wanted to restructure the Finance to get better options and he did but still there is no Finance in place for Baita. If Baita is a cash machine we should be able to pay back quickly enough.
I hope that we are not waiting now for the Diamonds to get a complete Finance package or we could be waiting for months, IF the Diamonds come at all.
What is going on with SRK, AP said 4-5 weeks .... this was 2 months ago. Is there a problem? Are not good enough and we need to drill to demonstrate the value? That could be Christmas... Some people get confirmation that SRK reports were on track, that was commented one month ago.
I bet at least one RNS this August it will be Finance or Placing. We shall see.
3 mines in 8 months ..... Ha.
Rant over.
BTW I have topped up today :-)
Isas. Yep it looks that has been some attempt to inflate the sp but is losing air already. Maybe MM offloading at a higher sp. Who knows what is going on.
SP wont go up just in expectations of something good coming. News overdue here.
Anyone has any interesting idea about what is going on with SRK report?
IMO if no Finance news placing will come in August.
Anyway even if we get Finance I believe that more placings will come till Baita, at least, is making money, e.g if we received the Diamonds signed then I believe that money will be needed to start immediately before we get Finance sorted out. Hopefully another placings will be at higher sp.
As far as I remember he didn't say anything about 100K. SRK I would assume is a fixed priced, what he was saying it was about Carlingford depending on the size of the debt it will be their commission. Honestly I believe that you are mixing up information.
I won't discard a placing in August though if no Finance received for Baita or (IF Diamonds come) to start work at the diamonds immediately till Finance for diamonds is sorted out.
He said "enough is enough" when talking about the placing but he did say the same around one year ago.
Yes Fantasy, we got the licence in October last year, hopefully we will get the Finance before October this year but with VAST you never know :-)))
Few things that make me think that Finance is coming, swiss bank or another one:
Massive reduction of debt
Mercuria patiently waiting instead of convert warrants
Two new financial guys dealing with the Finance institutions
New CFO economic models of the projects should demonstrate viability
Carlingford, debt broker, assisting with getting debt
SRK reports should provide a valuation of the projects
IF diamonds come will bring new Finance options
It is a pain be waiting for the Finance for Baita but small variations in the % interest of the debt could cause big difference in the profitability of a project.
If you think about it there is no reason why we were a 30 mcap company and now we are a 10 mcap company. Yes, we got dilution but this doesn't affect the mcap, is just pure sentiment and that can change very quickly with the right news. IMO getting Baita up and running should push us higher than 30 mcap.
And I know that 30 mcap will not bring us to the 0.6p, I also bought a lot at 0.6p and still didn't sell any but I have been topping up all the way down.
"… these assets need huge investment. "
That is not true, the investment is peanuts compared with the returns, I am talking about Baita + Diamonds that are the 2 main interest of the company now.
Both of the project could have important expansion.