Member Info for PortfolioPower

@iceman888

Good to see you over at INSP :-)))

0.062 PAID (+110.17%)

Still ticking up!!

Thar she blows!!!!!

BOOM!!!!!!!!

Looks like the first target 100%+ move is about to get taken down.

Nice.

0.051 PAID (+72.88%)

Ticking up

Such a tiny m/cap

Moves quickly on even modest volume.

@Jim

They have been selling their copper concentrate for around $3400/ per / tonne, that's $ not £

Still a very long way to go for the company to break even, never mind generate sufficient profit to have a hope of repaying their outstanding debt.

Actuall sales results are not far away

Let's hope the copper concentrate sales have improved.

Then again, hope isn't a plan is it.

Some or the on here really need to understand that tonnes milled and concentrate produced and dmt sold are two very different things.

E.g. take a look at recent vast results

Total Ore Mined - - 9,600
Total Milled (Ore Feed) - - 9,743
Cu Conc sold - - 376
Cu conc inventory - 13

So budget for around 400 tonnes of copper concentrate for every 10,000 tonnes milled.

Then wait for actual sales results

Shouldn't be too far away now.

What is of most relevant to investors is what is the price VAST have been receiving under their offtake agreement?

I decided to take a look.

All you need to do if you want to know exactly how much VAST have historically been selling their copper concentrate for is take a look at their published sales figures.

Between Oct 20 and Oct 21 they sold 829 dry metric tonnes. (From RNS)

Now how much ££ did they receive per tonne under their off take agreement?

Well that same period net sales for 6 months 31/10/21 were £1.143m + throw in the sales for the 12 month prior (to be generous) of £896k and the total sales comes to £2.039m (from published financial accounts) should note that some of those sales include a very modest amount of base metals sales.

Anyway.

£2,039m sales income for 829 dry metric tonnes copper concentrate = £2,459 per tonne.

Once adjusted into $USD at an exchange rate of 1.4 at the time = $3443 per tonne of copper concentrate received by the company.

As we know, this was all at a huge loss to the company given they simply have not been selling anywhere near enough product to cover their costs and therefore cash burn is high hence all the regular need for placings.

The question now is have they turned a corner?

Will production increase by the stated 3.5 x times?

Will this then translate into large sales increase sufficient to repay the bridging loan of $8.25m falling due for repayment end of Q1 2023?

Is AP the right man to turn things around?

All Eyes focused on the next production update.

All Good debate and bb working as it should.

GLA

From mining.com today:

"Copper price at 16-month low as slowdown fears hit industrial metals market

Copper prices fell to a 16-month low on Thursday as fast-rising interest rates and weak economic data fanned fears of a global slowdown that would reduce demand for metals.

Copper for delivery in July fell 4% from Wednesday’s settlement, touching a low of $3.78 per pound ($8,332 per tonne) Thursday morning on the Comex market in New York, the lowest since February 2021.

Morgan Stanley said the macroeconomic backdrop for the industrial metals sector had deteriorated as central banks’ fight with inflation escalates and China’s zero-covid policy continued to dampen demand for metals.

“Recession fears have become heightened,” said WisdomTree analyst Nitesh Shah.

“We are seeing a broad-based cyclical sell-off. It’s not just copper, not just industrial metals, it’s equities markets, too.”

Just trading the trade as I see it Rick

Happy to leave some bread on the table for the next man so Good luck.

Always difficult trying to catch those extra few percent, so exiting with a decent profit that's what it's all about.

Off out to enjoy the day now.

GLA

Was always going to be a sell the news event.

Managed to get a good exit late in the day yesterday when it spiked for a nice chunk so wasn't having to fight it out to sell today or tomorrow

GLA

Been a decent week for tbe traders here.

Learned along time ago to take all profits and run a mile on these no news pumps.

Good luck to those who are staying in.

Never fall in love with a share

Well done to those that had the RNS alert on and managed to grab a few in that small window before it was gapped up above 1900.

Anyone else catch this interview today?

CNBC
"So what do you say to all those bitcoin investors who listened to you over the past couple of years and have bought BTC, possibly on margin and now find themselves significantly down or completely wiped out"

Saylor
"Well if your time horizon is less than 4 years, you are basically a trader and I don't think you should be trading BTC unless you a professional with acess to high speed proprietary software and do it for a living"

Someone on twitter saying VAST are on for the World Record for shareholder dilution!!

Drrrrrrr.....Drrrrrrrr.......Drrrrrrrrrr

Must be the sound of Davey Jones Locker :-))

PMSL

All the ESG commentators will be happy anyway now as they have been campaigning to close the BTC mining industry down so I won't be surprised to see them kick the miners further whilst they are down, as energy consumption being wasted on loss making activities won't be a popular political thing to be seen to support.

More countries around the world will now be under pressure to totally ban all crypto mining companies. Some say its all part of the wider plan anyway.

Probably best to start looking under the hood of all the mining companies that you hold and work out what the value of their cash + crypto stack is worth - minus their debts they have run up to get to a fair value.

GLA as its looking like tough times ahead.

Feels like there is probably a few more component parts to the full JV piece that need to be all brought together, agreed and finalised.

From memory the staff on the ground have already had their contracts moved across into the JV company and the lab work has also been re contracted into the new JV co name.

I believe the formal transfer of the licences will be the very final piece to complete the jigsaw upon which triggers the further $2 million payment across to OMI.

In the meantime, whilst all of this admin is being worked on Agnico have continued to go about their business drilling up ANZA.

The first phase of the drilling contract is for 3,000m of drilling at Red Setter, with the second phase of the contract for a further 7,000m of drilling split between WSBN's Red Setter Project and the Company's Cottesloe Project to the south.

The track mounted drilling rig is a multi-purpose rig, capable of 150m Reverse Circulation and diamond core to 1,200m.

Both licences cover large target areas. If the initial drill holes start hitting decent intercepts at commercial grades over a wide grid spacing revealing the potential for a large copper/gold system at Red Setter this will simply go ballistic from such a low market cap vs some of our regional peers.

I'm sure our neighbours at Telfer will be keeping a very keen interest in developments should the potential for a new commercial discovery right on their doorstep start to reveal itself and would want to be front and centre of any potential JV discussions.

Throw into the mix a potential polymetallic system across a 7km strike length at Cottesloe and a further copper/gold target at wishbone II that is surrounded by multi million oz deposits being drilled for the first time.

Things are building up nicely.