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I agree, these debts are underwritten to long term creditors, they aren't calling it in nor do I see a winding up petition.
The assets are undeniable to any serious partners IMO (yes I'm one of those who believes Mercuria are better off sticking with oil co's).. personally I think many are quick to dismiss Zagra because it's "years away from production", but that does not discount the fact that a JORC evaluation (when awarded) would qualify it as a world-class asset.
Not to mention the other Rom plays.
Then there's the diamonds. Ahh the diamonds. Zimbabwe only operates at one speed, but TBH that may actually help buy time for AP to get his plates spinning in order.
Would be nice to think this is straightening the chairs ready for something big, but sadly it's just an AIM transparency rule (shares placed in the previous month).
It is painful to see 7.5B shares issued with likely more to come, and yet still I am optimistic. 8)
Taken from: https://www.plymouth.ac.uk/news/scientists-use-a-blender-to-reveal-whats-in-our-smartphones
Scientists put a phone in a blender and analysed the minerals..
"However, it also featured a number of critical elements including 900mg of tungsten and 70mg of cobalt and molybdenum, as well as 160mg of neodymium and 30mg of praseodymium. And each phone contained 90mg of silver and 36mg of gold.
This means that concentration-wise, a phone has 100 times more gold – or 10 times more tungsten – than a mineral resource geologists would call ‘high-grade’.
It also demonstrates that to create just one phone you would need to mine 10-15kg of ore, including 7kg of high-grade gold ore, 1kg of typical copper ore, 750g of typical tungsten ore and 200g of typical nickel ore."
Interesting ;)
Thought I'd check-in and say hi. Still in Vast and nothing has changed regarding my holding or company outlook; happy the BoD are actively (hopefully pro-actively) working on resolving the finances.
Dumping Bergen was a must. Dumping SSGI now mandatory in my eyes, I hope for news on this soon.
Hope everyone is keeping well.
Global Witness have a decent map of the different concessions, ZMCTs bottom left..
http://www.globalwitness.org/static/infographics/zimbabwemap/index.html
Good post FN.
A reminder that even inside the concession, we are looking at mining just 3 areas within the initial 15km allocation; if we perform well and the community approves our approach, it's possible we could be allocated further prospects within the concession.
On 3a, technically it has already been mined by artisanal miners, but they only extract a tiny fraction of what a commercial mining operation will yield. :)
I agree with your $50-60/carat estimation - this is more or less in line with my estimations given the averages I've seen in various reports.
2011 - $56/carat avg (Bains 2018 Diamond Insight report)
2018 - $64/carat avg (Zim Sep 2018 diamond auction)
Zim rough diamonds are generally not jewellery grade but still very sought after, especially for industrial applications. Still a huge potential profit to be made however you look at it. :)
Thanks Castaway, yet another solid sensible post from a LTH. I don't see Vast any differently than from 6 months ago, albeit with a delayed event horizon in my mind, but it will still come good in BP.
Zim I am confident about, perhaps not as much as before, but still am, we really can't presume anything until RM is in receipt of the licence. The HC is ripe for harvesting and the gov must surely be itching to progress it given their bold targets for diamond mining.
My average is much further north from here (0.6s) but at some point after the 0.1p "era of nononomad" I decided to disconnect my emotions from Vast and treat it based on its merits - and those "potential" merits have trebled since those days.
I understand others may not look at things the way I do, and fair enough if they want to bark it out in a forum, but for some to say the company is 50:50 going bust is irrational to say the least.
AP is positioning the company for greatness in Zim, and Romania the longer game IMO is Zagra; AP won't want to lose his sights on it, but BP and Manaila need to be converted into winners to unlock that next tier of achievement.
Not for me to tell people how they should handle the next few weeks, but my forecast is sunny as ever.
Even if conversions occur it's not going to be spiralised like it was in the RP days.
Hullo, not stepped in for a while but I have to say I agree, why are people talking like the company is doomed? It's a revenue producing company with solid assets under development.
T2 will come, assets will come, profits will come, people need to relax IMO.
Same here, not been around much lately due to work commitments but a lot of useful input in here lately.
I missed the call today due but on the whole sounds very positive. Safe to say we should not build our hopes up for a solid Q4 for Romania, given "winter is coming" but that is not the focus and important to look beyond the immediate performance and keep the bigger picture in mind.
With that being said I'll be adding to my holding tomorrow now that I'm invoicing again (been unable to work for a while so it's been painfully difficult to watch the SP slide and also not able to build a bigger position).
Thanks FHP and all and keep up the good vibes!
I take this as a green light to get the JV moving. Yeah the percentage isn't what was hoped but it was always a wait and see situation. Now the project can be started. It's more.. a lot more... Than we had before. :)