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Been some balanced debates and chatter over the weekend. All being well I think we will have news very early in the week and like to think T2 drawdown will be one of them.
I think Poiu has a point about the influence of press coverage, and ours has been somewhat 'light', I'm not sure if AP is holding back on the PR front until a few more ducks are lined up (and we have a raft of ducks).
Quack!
Aye, but even so, that would be a crazy game to play knowing Vast is in a better position now than it ever was under him, he would be beyond daft to peddle his shares away at this level for risk of losing out, would he not?
Play stupid games, win stupid prizes.
Patien, I understand your position here and I am in a similar boat as you.
I'm fully onboard and believe in this company, millions of revenue is heading our way and I am not selling a bean.
However, my advice (disclaimer: I am not a qualified advisor) is to make sure you don't get emotionally attached and to have a clear strategy should things turn bad... I was >this< close to selling half my holding if BP licence had not arrived by mid-Oct... and now... well, why would I given we now have the green light, and that it enables the multitude of investment and acquisition prospects in Rom.
Achievement unlocked: "Romanian turnaround strategy phase 1"
It certainly is good for thought tho gents. I can't remember the specific doc on Vasts website but you will find certain levels of BP are reserved/unallocated for other interests, chalk being one of them, perhaps uranium the other? :) It may have mentioned those levels are for a 3rd party can't quite remember ATM.
Great post VM, it's strange that you should bring up uranium because I was actually looking into this last night just out of curiosity, I saw some mentions of it and went digging.
In short, Vasts' BP mine isn't a uranium mine (tho there may be the odd small deposit in there), Baita's uranium mine was actually an open pit mine, the Russians set it up in the 1950's (including the Baita Plai worker colony) to source material for their nuclear armaments.
The mine was called Baita Avram Iancu, known to have the richest uranium deposits in Romania: https://www.mindat.org/loc-219391.html
..a rather mad fact I read, the Romanian gov allowed material from that mine to be used to build the colony living quarters, radon levels were through the roof.
Whilst talk has settled for the moment, thought I'd post the anticipated news list.
Just like buses, I can see us being landed with multiple RNS's in quick succession, like last week. I really did expect the Q3 and T2 news by now...
- BP licence (Oct 2018) - DONE, signed and executed OCT 16
- Marange DD (Oct 2018) - DONE, moving to planning
- AGM - DONE, all resolutions passed
- News on Tranche 2 draw down (Oct 2018) - Expected anytime now
- News on BP project timelines (Oct 2018) - Expected anytime now
- Q3 production (Oct 2018) - Expected anytime now
- JV on Zargra (Oct/Nov 2018)
- Blueberry permits update (Oct/Nov 2018)
- Blueberry finance (Oct/Nov 2018)
- Plans for processing facilities for Carlibaba (Oct 2018)
- Other updates (Nov 2018) - Must be diamond related after the podcast
- Zargra drilling (Nov/Dec 2018)
- Faneata tailing processing (Jan 2019)
- BP production (2019)
- Eureka production (2019)
- News on Giant mine (2019)
- Diamond production (2019)
- Remin projects (2019)
- the list goes on throughout 2019......
Why are you going on about the SEC? That's a US authority?
I don't think you have your facts straight. The year-end report was end of Sep, the placing was weeks after, it was outside of a closed period, the period which is usually 30 days BEFORE a financial publishing.
Nice. Zim is one of the safest countries to visit btw, 3rd on Lonely Planet's best places to visit. https://www.thesouthafrican.com/zimbabwe-named-lonely-planet-top-destinations/ ... It all helps.
Cast, I also suffered with you thru those dark 0.1p days when we had no nomad, distinctly remember sitting in my car watching the price on my phone, thinking theres no point selling, unable to buy even as a punt.
Patien, in my view this is typical shake games and other forces may also be working against us, but ultimately the fundamentals, assets and outlook for this company tell me the company as a going concern is sound. IIs and major JV partners will see the bigger picture more than any of us, I'm not concerned about the current short term SP wobble.
I'm thinking a tasty RNS will land tomorrow to set us up for the weekend. 8]
Not wanting to get too ahead or excited here, but the research doc has some very interesting reading points.
p94, 3rd para:
<snip> "This observation seems to suggest that the diamond size within the dispersal is a function of the distance from the conglomerate outcrops on the hill slopes. With the decrease in size, there is an increase in the gem content percentage, from 20% near the slopes to 60% further west away from the hill slopes. The progressive increase in gem percentage westwards is based on the fact that the more pure and more resistant diamonds can travel much further away from source than their non-gem counterparts."
Interesting no? We may not achieve the same carats/ton rate as the eastern Mbada/Anjin mines, but it does sound like we would yield much better quality diamonds.
Here's a great snippet from the doc:
The greater part of the Umkondo diamonds are likely to be lodged beneath the deep gravels of the Middle and
Lower Save River basin, because small remnant tilted mountain blocks and inselbergs forming the caps of hills are what remains of the host conglomerate on the western margin of the Umkondo Basin.
...for those unaware, the heritage concession is in this western basin area, on the eastern side of the Save River.
VM, I take your link and raise you this rather spiffing summary:
http://vital.seals.ac.za:8080/vital/access/manager/Repository/vital:20528
Read it carefully, let it sink in. Then re-read again. ;)
Then, if you're really up for it and have a spare few hours to kill, the whole research doc (which is not for the faint hearted, lots of geology detail): http://vital.seals.ac.za:8080/vital/access/services/Download/vital:20528/SOURCE1
Waiting to see what's in the startup plan, tho I'm thinking Faneata tailings dam processing may be up and running first whilst they work on prepping BP.
4.6Mt tailings comprised of ~40 years of high grade from Baita Plai, approx 40% recoverable, should generate a nice bit of income to fund the dewatering and prep costs prior to startup? We'll find out soon I think.
Then there's the upper galleries which may access other high grade material (we gained permission as part of the licence terms earlier this year), the other skarn pipes within the BP complex and then of course there could be more to discover beyond the lowest level (lvl18) in BP.
It's very tantalising TBH, that Marange is just the start. We have 15km2 of a 69km2 total concession area, and are looking at investigating areas outside of Marange, too. I personally don't think we'll ever get our old claims back, however, we are owed and given Zim are not (yet) a rich economy this may instead yield more generous concession awards or other incentives rather than a cash compensation. But I'm just musing here, the potential is staggering in Zim.
ATG, great summary from Woodaldo, and that's just the tip of the iceberg.
Woodaldo mentioned first mover advantage, and this is due to Vast being granted access to the state secret mining records in Romania, they know what's out there and what has potential, the MOU with Remin means AP has choice pick of the 55 state-owned mines that he can apply his turnaround strategy to.
Not to mention AP is in discussions with majors about a JV for the huge Zagra mines.
Zimbabwe diamonds, man this is a whole other level - there are more diamonds in just the Marange area than all of Botswana (one of the largest producers of diamonds in the world). Sure alluvials will not last forever, but by then I would see the Vast+BOD JV developing mining processes to handle the deeper granite conglomerates (that would be a long way down the road).