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30th May AP said 4 or 5 weeks to get SRK reports, 6 weeks have gone since then and nothing yet.
Did he give the same timeline to the new investors brought by SP Angel? I am sure that the delay is inspiring confidence.
I fail to understand the logic in APs timelines. Does he not understand how unprofessional he looks like? who is going to believe that he will get Baita in production in 6 months? I would be happy if we get it working in Q1 2020.
FTB, I believe that you are spot on when saying "I can only assume that this has been done to put a bit of pressure on ZCDC and the government at a time when the community is preparing mass demonstrations. "
That is also what I think is going on, he is putting ZCDC in the spotlight as the ones that are holding the process move forward.
SRK reports, stated end of June or start of July, it seems not.
Swiss bank finance, 10 weeks gone and no update other than DD is advancing. Are we sure that we are not waiting for SRK reports?, and I know what AP said about that. Thank god we are paying Carlingford to make the process faster. Should be easier now that SSGI has not its foot in Romanian assets. Next update is in lawyers hands ….
Other Finance linked to Diamonds final approval, that could be anytime who knows.
Diamonds, It was a final signature but now we are in negotiations with ZCDC. AP stated he hopes that will finalized the deal with ZCDC in his next travel to Zimbabwe, he "hopes" ….
The 2 new Finance guys didn't buy a share yet, Net worth individuals didn't buy a share yet, JV partners not interested yet, …. No confidence in AP/VAST to deliver anything is what we see in the SP.
I know that VAST is in a good position now and everything could change very quickly and still disappointed.
Is refreshing to read in this BB a researched post highlighting the potential of VAST assets instead of another one trying to remind us the SP decline, 20 times per day.
Also good to put into perspective the capex needed comparing with another companies. A lot has been invested already in Baita so not sure how much still needed, 4.5 or 3.5 is peanuts compared with the cash flow that will generate. A lot of AIM companies will expend this money just in exploration.
Sandy. Some people is investing in very volatile companies so they can multibag but they don't assume that these investments are High risk.
Risk / Reward always go together, and investing in Romania and in Zimbabwe is a challenge.
I agree that now it seems more a matter than When rather than If but government signatures always seem to move very slow. We were waiting for a signature and after a meeting with ZCDC we are now waiting for another meeting, Hopefully the last one as said by AP in the RNS ... Zzzzz
It is not the first time that Zim gov come to London and VAST is holding hands with them, so tomorrow is nothing new just a confirmation that we are on track.
Just saying don’t hold your breath, could be few days, weeks or months ... not even AP knows, don’t forget that APs “shortly” could mean anything.
IMO we will, should, get more news at some point next month about the Finance for Baita and valuations of Rom assets.
AP did say that valuations will be first of July so I assume that there is no drilling for now. You could be right that it will be some drilling for a complete valuation in the near future. Drilling + lab results it takes few months.
2p that is a good question. The feeling I got about Carlibaba extension that was JORC is that this was only a part, so I believe that Manaila + Carlibaba would have a good NPV but not everything has been JORC yet so not sure what valuation will receive. Same applies for BP, which I believe that could be huge but there a lot more to explore.
Anyway from AP comments could be easily around $100m or higher. Also Lee commented that could be around this figure. This Valuations + Finance should bring the SP to a higher level IMO.
Hopefully not long to find out.
BP is a mine that already have been in production.
Manaila + Carlibaba Have good rates of copper equivalent, it needs the new plant.
Diamonds: Maybe you are right and VAST could get a licence in the only area in Zimbabwe that there are no diamonds. Remember that James Campbell (expert in alluvial diamonds) did a study there and he was quite happy with what he saw.
Sandy good point, I have been always critic with AP timelines broken over and over and ... so I appreciate that he is taking a more cautious approach, he can not force Zim gov. Or the swiss bank.
I quite like the interview today, I am not expecting any important news this month but hopefully in July we will start to get some news flow. Slower than we all shareholders expected but things seem that will fall into place.
GLA
That is a good RNS, at least to Remember us that we are on track, things definitely are moving forward.
Another comment that ZDCD could be interested in more projects with VAST, after all there are only 4 companies allow to mine diamonds.
Some time ago there was no chance of Diamonds, so it will be an awesome achievement for AP/VAST.
Things take their own time.
I don’t believe that VAST will delist but definitely is not impossible. We had this conversation when we were at 0.6p and 30m mcap so now it would be a lot easier. Every placing the sp is going lower and not even once from 0.6p has bounce back, just there is no trust that AP/BoD will deliver.
IMO AP got a sick company but now is close to death (Financially speaking), I don’t blame everything on him but it is clear now that he has not played well his cards. AP has bring good assets but we never have had the Financial power to develop any project properly, I believe that AP realised of that hence the new 2 guys in charge of bring Finance and some II.
If we get the Finance for Baita, swiss bank or any other option, should be enough to recover the sp as we will have an existing mine recommissioned and in production in 6 months.
I believe that Marange is a real possibility but as long as we don’t have the final signatures is just a possibility, Zimbabwe is a mess and anything can happen. I believe though that if we don’t get the diamonds sp will not suffer.
For the ones that think that this will delist think again, there are plenty of mining AIM companies asking for money to make holes and search for some minerals that they never seem to find and if they do it can take many years and a lot of money to get the mine in production.
Work started for long lead items so Baita can start production this year.
Swiss Bank: Accepted technical information used for Mercuria and working with Financial models from new CFO + Assistance from Carlinford to speed up the process. Working in paralel with other debt providers in case Swiss bank decide not to proceed.
Cornerstone Investor still interested, ...
SP Angel has brought some Investor Interest to buy in the market that need 3rd part confirmation of the Romanian assets values hence: SRK Consulting + Carlingford would provide asset valuations and Financial modelling for the projects.
This information also to be used to get debt funding (Carlingford) for expansion of current assets, IMO he is referering to Finance for Manaila + Carlibaba, new plant and possibly complete JORC of Carlibaba.
Diamonds : Working on the Finance and waiting for signature
No more placings, ... hard to believe this one.
https://www.proactiveinvestors.co.uk/companies/stocktube/13529/vast-resources-raises-900k-to-accelerate-towards-production-in-romania-13529.html
IMO July/August could bring some important developments for the company