Member Info for Ronnycant

Would be great. Where do u have this info from if i may ask?

I have not verified this shutdown myself. I would hope it is not a hard cut off. I would be infuriated by romgov if it was and if they don’t manage to sign off beforehand. On your previous question, worst case.. get the dilution. U don’t want to stiffle progress due to a small lack of cash.

A company like VAST can not get a loan from a bank before demonstrating significant sustainable positive cashflow. If you want your increased investment to not dwindle, then allow them this small diluation. It is the kickstart towards profitability on 3 projects in parallel. Put your feelings aside and think rationally.

He brought us shatloads of good news... especially Mercuria finance + a free ride on Eureka... but we PI's sold into it. You can't blame AP... on top, have you tried doing business in corrupt burocratic countries?

Sandy, You sound like my imaginary wife. You made your point... you are ****ed off that out of 11.5Mio capex requirement, 1.5Mio POTENTIALLY comes via dilution. Can you now please stop nagging and get over it.

The guy just sorted a 10mio dollar mercuria finance. Get over your high horse. If he would have told me 10 months ago we would have 1.5mio gbp dilution + 10mio external finance.. i would have been delighted

Again, it is in the shareholders benefit to be able to buy thrme trucks. It outweighs the dilution. Facts don’t care about your feelings

I feel fairly confident all parties have reached agreement on the BP license. The only worry I have, will we manage to get everything signed and sealed before govt shutdown end of June? And what happens if it is carried over to after the summer...

I am just worried that once the BP association license would be awarded I will fall in a black hole. I have been waiting (in the meanwhile being in and out of VAST) for about 3+ years now... How will life look like post license award?

That is the only thing that havks me off... baron knows AP.. he got a nod

That was a different time with a death spiral finance deal

They just had a no-dilution financing deal. They have unforeseen cost of 1.5mio... so if that is all that is required to kick start all the activities, i would have signed up for that without hesitation. Stop panicking and moaning. The Manaila approach is brill!

Now I come to think of it, the ministery as a shareholder normally is entitled a month consideration for their sign of before it can be sent in to ANRM. The fact that the ministery was represented in these talks would imply that they will not take a month, but more like a week. Let's see.. in this case I can see the whole process be done and dusted in 2 weeks. Fingers crossed.

Let's hope so... my patience is starting to wear pretty thin. I don't blame AP though. This seems to be an opportunistic govt behavior that might have personal interest before general interest in mind.

I think the content is agreed and this will go ahead... The below described formal process has the potential to take another month though... just for signing of.

Well, the below is what they said was required for the association back in October... quite the process still.. "The letter continues by saying that the legal term for the shareholder's approval is 30 days but may be shorter; that on receipt of such approval AFCR and Baita SA shall lodge a "joint application" to Romania's National Agency for Mineral Resources ("ANRM"); and that upon the receipt of the preliminary agreement from ANRM "the association agreement will be signed in accordance with the agreed draft contract".

The more I think about it... we will be lucky to get it all signed and sealed by end of June.

From the RNS last October, after Baita SA was ok with the terms, their shareholder (Ministery of Economics) had 30 days to vote... Once that is done, a joint applicaiton needs lodging at ANRM who will then sign. So additional terms have now been agreed... The ministry can take 30 days to vote for approval and then however long the application lodging and ANRM signatures take. I just want to manage expectations. This could be next week but it can also be more than a month away, God forbid. "The letter continues by saying that the legal term for the shareholder's approval is 30 days but may be shorter; that on receipt of such approval AFCR and Baita SA shall lodge a "joint application" to Romania's National Agency for Mineral Resources ("ANRM"); and that upon the receipt of the preliminary agreement from ANRM "the association agreement will be signed in accordance with the agreed draft contract".

VAST Romania management will own 20% of the mining rights. Something tells me AP will have sufficient motivation getting this sorted.

So, it seems that they reached agreement with Baita SA with the presence of a ministery rep. I assume now they will have to finalise the actual documentations, the ministery rep has to take these back to his bosses, concince them that this deal can be signed of.. after which the 100 signatures and stamps have to be placed. How long can this take? That is the question. How many people need signing of, are they there, are they on summer holidays... I say, another 3 weeks realistically. But could be less or more.. who knows.