The diamonds are coming!10 Nov 2024 22:22
Here’s why - after the announcement on 10th October where company said following
‘Vast Resources plc, the AIM-listed mining company, wishes to announce with respect to its announcement released on 23 September 2024, that the Attorney-General’s Office has approved the terms of a settlement agreement relating to the Historic Claim and has recommended this to the relevant Governmental Institution for signature in order to resolve this longstanding matter. Accordingly, the fully executed settlement agreement is currently awaited to enable the Company to complete the process of recovery. Shareholders will be advised of further developments‘
60 million buy order filled Friday looks leaky from Zimbabwe
Lawyers & broker choosing to take stock here instead of cash showing a confident move in the company
One month since announcement that the Zimbabwe Attorney General had approved terms of the return of
historic multimillion diamond parcel and advised the Mining and Development dept of Zimbabwe Government to sign it off thus executing the order that RBZ will accept and release the parcel to Vast
We only needed one stroke of a pen and after one month that looks as though that must have been done finally and will add multiple millions £s to Company bank balance with estimates of value range from 20-100 million worth of rough diamonds held at bank
On top of this extended funding, higher grade resources we await numbers ‘The processing and marketing of concentrate derived from the Former Hanes Gold Mine is a great result for Vast and provides near term cash flow whilst utilising excess capacity at Baita Plai. We expect further news shortly’
And after speaking at conference in Tajikistan the company highlights the focus on rare antimony as prices rise
Shipment 500T leaving in November with payment of concentrate to be announced adding substantial funds to company
Working capital fully funded until 2025 after completion of raise beginning of last month.
Entering a news rich transformation period for the company as the turnaround fully begins.
IMHO DYOR GLA