Xcoder: and we're back to "AP said..." territory 🤦
I'd imagine that was the swap + default commission being converted to equity but haven't checked the timings.
Lostsoul: as I mentioned earlier, there is no other 180m buy. I'll restate here for ease:
Britton is listed because of his voting control over Capstone, not because of a separate personal purchase. You have to refer to the instruction box above those lines in the TR-1:
"Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)".
Britton is the "ultimate controlling natural person" in relation to Capstone, hence why he's listed on the form.
Lostsoul: no, Britton is listed because of his voting control over Capstone, not because of a separate personal purchase. You have to refer to the instruction box above those lines in the TR-1:
"Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary)".
Britton is the "ultimate controlling natural person" in relation to Capstone, hence why he's listed on the form.
Rick: no idea about a Vast BB. You mean a place where the company's business reality gets discussed?
But there's a Vast Fantasy BB here:
https://www.lse.co.uk/ShareChat.html?ShareTicker=VAST&share=Vast-Res
ASI: fair enough! It sounds like a thoughtful gift :-)
ASI: happy to continue to chat off site about it at
a dot z dot smith at a o l dot c o dot u k
Good luck with it in any case. Nice garden find!
ASI: so if I gather correctly, your target price is around £42k for a fashionable setting, to give you £30k after insurance repayment, minus whatever is your cost of setting. Thus to receive a £15k (minus setting cost) markup on selling it at trade without setting, being 3ct at £5k per carat.
Correct?
Pity. But I guess for women it's become a stereotype.
I had a lovely holiday in the Vendée in 2011 where and when I first discovered the joys of real, Old World rosé wine of the sort they don't export, i.e. the really good stuff. You'd see grizzled old guys in a bar tabac of an early morning having 'juste un petit verre de rosé'.
With booze, shirts and flowers, I thoroughly like it.
Nice reply. Pink is a beautiful colour. It is my personal brand of machismo to like pink :-)
ASI: splendid. Is that an offer and, if so, could I have it?
But equally, I should add on the other side:
6. Diamonds are long since gone and don't exist.
An outright phantasm on the negative side.
ASI: indeed. It's been largely a fantasy land ever since.
1. Assumptions and ramptasmagoria that mining licence will coincide with 'Historic Parcel' - despite repeated clarifications from the company that licence is not a focus until afterward;
2. Valuation guesses at 'Historic Parcel' repeatedly driven by wildly ill-informed references and the odd bit of bad journalism, with only a few prepared to acknowledge facts about real statistical data + what we know of how undiagnosed this bag of stuff is;
3. Gross naivety on timelines of anything ever to do with any government anywhere, let alone ZimGov;
4. Daft waste of life story-making about tenders (whether upcoming or those already been and gone) when we were told that receipt of 'parcel' would be confirmed;
5. The phantasmagorical tracking of conferences and cabinet meetings, though this is an exact replay of 2020, when no conference or cabinet meeting ever made any difference to anything.
All pointless. What will happen will happen when it happens.
Oofy: thanks for your reply yesterday.
Ironically, and by coincidence, yesterday and today make my point, I think. Big bounce and out sprang certain emboldened fantasists. Hefty drop and only the hardier ones or needier ones, or gleefully negative ones, show up.
Realists are largely quieter at present because the key facts are yet to be determined. So there's only really a bit of social chat to be done, which pleasantly greases the wheels, while real commentary on the company's fundamentals is slightly in hiatus as we just don't know and therefore guessing.
One day there might be a wider understanding on these BBs that the SP drives a BB, rather than a BB driving the SP. When that happy day comes, and the goldfish bowl effect is broken, a lot of the ritual waste of effort here (ramp / de-ramp pantomime) might actually stop and a real discussion of business could get easier.
Just IMO.
Oofy: hello again. Hope you're keeping well.
Re your 15:54, your characterization of the company's situation is correctvIMO. The only thing I'd disagree with is your characterization of the trading situation:
"All that’s happened today seems to be that a number of people have re-posted old or very old news and the price has recovered somewhat in response."
The price does not respond to the posting. The posting responds to the price.
SP climbs for reasons that have nothing to do with a BB and it draws out the optimists because they start to think there's truth behind their imaginings, and are emboldened to share their fictions. SP goes down and they either (mostly) lose heart and stop, or (minority) become aggressive fanatics lambasting others.
The reverse also applies. SP drops and the sceptics are emboldened. Their doubts are validated and they're emboldened to share their scepticism.
Few stick to rational arguments and facts throughout.
People often write as if the big divide on a BB is between 'rampers' and 'derampers'. But the truth IMO is that the divide is between those who are realists and fantasists, regardless of which way an SP is going. The question is then just who is whom. And of course we all make mistakes, so it's all just approximation.
But some approximate more than others, and some delude themselves more than others. It's then aggravated by the fact that a few know the BB makes negligible difference to 90%+ of AIM trading whereas most seem to think it really has an impact, which is the goldfish bowl effect.
It's all quite funny to watch.
Pecten: I think your hypothesis might very well be right. Tranche 1 the blessed. Tranche 2 the meek. (Everyone else generally hexed.)
Pecten: yes, on reflection it's quite possible Alpha would want a bit more than just the $800k interest. Somewhere in a range of $1-1.5m looks plausible to me.
Edd: your business plan makes zero sense. There are no 'experts' here saying BPPM will 'never' make a profit. The issue is that it is taking a long time and a lot of cash to get there. But it is the company's only directly operated revenue centre. Takob is a 'participation' over which Vast has no control.
So first of all, giving up on BPPM now would be IMO clinically insane.
Secondly, even if it turned out that thee was a good business case for doing so - e.g. the mine vanishes in a massive earthquake - Vast would then have no underpinning with which to seek finance for Manaila and Blueberry.
Manaila went on C&M because it needs major investment to become profitable. Blueberry isn't even a workable mine yet. No one would dole out monies to a company that had just walked away from its primary revenue centre saying, on the last leg, 'We failed.'
Gemstar: I believe nevergonnaretire was referring to the prospective issue of the 1.42 billion new shares for which the company is seeking headroom.
As to the subject of the SP, my view is that Vast is Vast. So (1) they will get the headroom they seek and (2) no matter what is ever said, they will sooner or later use it all - though not necessarily all at once, of course.
So IMO, even though it's not currently the case, it's best to calculate on the basis of 4.35 billion shares (rather than 2.93 billion) if one is looking towards Q4 and 2024.
On that reckoning, 1p would be an m/cap of £43.5m and 2p would be m/cap £87m. Either would be a step-change for Vast, which has rarely nudged past £30m. So we get into a zone where, apart from the odd spike that might happen, a stable step up in the m/cap will need to be driven by actual operational delivery.
IMO.