Pecten: "the board didn't see fit to do the same".
With a lot due to happen in a shortish timeframe, my inference would be that they are deemed to be in a closed period. Obviously so in the run-up to Final Report but could still be so afterwards based on current operations.
RE: Block Energy down 71% last 12 months08 Dec 2021 10:53
the_watcher: "Tucker was only the company secretary".
Tucker was and remains a director. He founded the company in 2005 and has taken a merry old time handing off his roles. He remained as Finance Director well past the appointment of Paul Fletcher as CFO. Now he remains on the Board as a NED, though clearly not an independent NED.
APD: that's a strong bet, I'd say. But as I understand, this would be on grounds of breaching confidentiality rather than on grounds of posting false information. I never noticed any denial on the facts from either W H Ireland or Vast.
Do the facts matter?
In one sense, I was actually moderately sympathetic to Vast: the point about having passed EBRD's KYC process, and the suggestion that W H Ireland had reached a decision without giving Vast a full hearing, if true, was favourable to Vast.
On the other hand, you've apparently got Vast using the EBRD's terms as an excuse for a massive equity fundraise last December, then promptly walking away from that bank somewhere between January and March, it seems, by not bothering to pursue the restructure over Zim/Rom that the bank was looking for, and instead going off to likes of W H Ireland.
The interesting thing about the website, therefore, was not that it highlighted wrongdoing so far as I noticed, but rather that it might have highlighted some very questionable strategy. Vast seems, on this evidence, to have decided to keep its African Adventure fully in play at the cost of EBRD finance.
max: I still have no doubt it's an excellent resource. They should not have misled people with unrealistic predictions of operating profit at the mine within 1-2 months. But if they get it working properly, happy days.
M/cap now down to about £6.3m - the bracket of a junior explorer years away from revenue, let alone profit.
IMO, this all now hinges on (1) resolving finance ahead of the late January Atlas bond due date, and (2) showing net operating cash positivity at BPPM, now re-targeted for December and to be reported by end January.
Failure, and the company will possibly fold. Success, and this might rise to £50m + in a fairly short time. A fudge (say bridging finance on poor terms with another slippage on production meanwhile) and the SP probably won't do much.
patrick: if I understand you correctly, you're assuming that any unanswered questions were silly questions. I see no evidence of that. As far as I know, there might have been good questions that the BoD have ducked.