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AP doesn’t need to go on a spending spree, his huge salary along with the other useless directors on huge salaries is a spending spree on its own !
Then in the last RNS AP says oh it’s ok that the bank won’t lend us money guys, because we have a few million in our bank account ............ but isn’t that the money the bank needed AP to raise to get the loan ? So if AP uses that for his huge salary and running costs won’t he have to have another raise of at least an equal amount again for the loan approval ?
Does it not seem strange to anyone that AP said the last placing was at the lending banks request to raise funds for the banks approval, yet a few weeks later after the placing the bank then decides it can’t lend because for a yet unexplained reason the assets have to be separated ?
Wouldn’t the bank have explained the reason they wanted the assets separating before the fund raise ? What’s the point of the fund raise if the bank needs a business division first ? I still think the last placing was a smoke screen, it just doesn’t make any sense that the bank keeps coming up with major restructuring at the last minute all the time to me ? First AP’s holding , then the major fund raise/placing, then a full business restructure ? Even though AP said the deal was practically done ?
Somethings not right here
I have been in here 5 years, I really hoped that things might turn around now that BP is producing, I have just sold out my whole holding at a gigantic loss !
1 x 10,059,058
1 x 10,000,000
1 x 6,816,398
If anyone doubts me, I have always been glass half full, but I either see this being taken over by atlas, a huge placing after consolidation, or it being taken private by AP, either way I don’t believe the banks decision is a surprise, and I think the last placing was a smokescreen, let’s wait and see, but it’s not looking great to me anymore .
It just seems the wrong way around to me, Surely the bank would first agree to lend the money under the condition that vast would raise the required capital, rather than saying raise the money first, get the money in the bank and then we might consider lending you the funds ? I just think it would be a condition to raise the required funds by means of a placing before vast could draw down the money, however it’s been done the other way round which makes me a little suspicious.
If it was, what happens to the funds raised if the bank decides not to lend Vast the money ?
I hope I’m wrong, but I’m starting to think the last placing that AP said was a requirement by the tier 1 bank was actually another placement by AP to raise more funds and not actually at the requests of the bank ?
Sorry Ford I hadn’t seen your post or Sandys , As I said my opinion of AP is very very Low, especially the seemingly never ending disappearing placing money with little or no explanation or proof to where it has actually has been spent, however, as I said the one thing that gives me a small glimmer of hope is AP isn’t CEO material, but I’m pretty sure AP isn’t stupid, so why would he Sell his share of the company to Vast in shares (I know it was the lenders requirement) lock himself in for 12 months, but then a week or so later dilute his own shareholding with the placing announced today ? He either didn’t realise this placing twas going to be another requirement by the lender and got caught out himself , or he did know but thinks the share price will increase enough in the future to increase the value of his holding ?
As I said it’s the only thing that’s making me think there might just be a glimmer of hope ...
I just wondered what views other shareholders had about this ?
Hi guys,
Firstly I’d like to say that I very rarely post on these threads but read as much as I can, I am a reasonably large holder in Vast, I bought most of my share holding between March and July 2015 at between 1.3p and 1.45p but I have since average down as and when possible.
My opinion of AP has gone drastically downhill since he has massively diluted shareholders with constant placings, at first I was kind of okay with the placings as I understand you have to speculate to accumulate in business, but unfortunately there has been little explanation where the funds raised have actually been spent apart from the huge salaries for AP and other directors, I had held out here as I thought once BP came online that shareholder value would return and the share price would increase, and if the diamonds materialised in Zimbabwe then I mine eventually get a return on my investment, However with the billions of shares now in circulation I am doubtful this will ever happen, and with the latest placing announced today it seems even more unlikely, however, my question is, todays placing also dilutes AP’s Holding in the company so my dilemma now is why would he sell his share of BP to Vast, then lock himself in for 12 months, only to dilute his own holding now with this latest placing if he didn’t think The share price would eventually rise substantially hence increasing the value of his holding in the company? It’s the one thing that makes me think that there might still be hope as I am sure AP will want his own current shareholding to increase greatly in value?
Well if I was the CEO of a company that I was sure was going places , and I was positive the company would become cash generative and was positive the share price could only rise I would own a lot more of the company than 0.7 percent ! Prelea is hardly on the breadline so the purchase of 15m shares is virtually nothing,
It’s not a good sign is it ?
They own next to nothing, I own more shares than Fletcher, If they were so positive why didn’t they buy more ?? I have always been bullish hence my shareholding, but after this last fundraise and dilution I an very downbeat, money raised seems to either disappear into thin air or into directors salaries
Beaching Who mentioned about not being able to afford to loose it all ? I just wanted to note that unless your a relatively new investor to Vast a lot older investors might need a lot more than 200/300% to break even, I read every day but rarely post, I would imagine I’m one of the largest holders on here, so ant losses I might carry are only paper losses as I have no intention of selling until well into,profit, do Beaching your seemingly smug comment/advice was not necessary thank you.
How about thinking about the loyal holders that bought in 2015 at well over 1.5p some at over 2.0p and need a lot lot more than 200-300% !!!
I’m one of those people and it annoys me when people always think 0.6 will mean everyone will be back level .
Can you please post what AP tweeted, I don’t have Twitter
Thanks
Is it now not the time to get a shareholder group together with a combined large holding and lobby the company and directors for answers ? Saying that I am not the person to organise it.
I personally have a large holding, and I have been in Vast for over 3 years, I have been taken in by the BP licence, endless promises of no more placings, funding disappointments, Andrews promises and failed timelines on podcasts etc etc.
I think a joint voice from a group with a large combined holding might at least get some answers to a few questions ? I have to say I am now a little worried about any future should the Swiss bank funding fall through.
Thank you,
Yes you are absolutely correct, timescales with Vast have to be taken with a ton of salt for sure, had everything from imminent to millimetres away, and everything in between so far, non of which have materialised, but at least it sounds like the diamond possibility might still be on the table, and that’s good news for all holders here.
Thanks from myself as well, Lee, you are right more investors should go to the meetings, I regret not going, I am a long term investor that's been here since early 2015, I have a very large holding and I am currently looking at a huge paper loss, and i thank you for your factual information, and the effort you made to attend the meeting and then provide us with the facts, can i ask, did Roy say News about the Diamonds could be next week ?
Look through TC64’s posts on the XTR, CERP and TOM boards, he does exactly the same thing on there too,
Yrab My biggest loss was African Minerals too, well into the tens of thousands, Frank Timis should be linched, ex drug dealing billionaire that kept the best asset to himself then tried to take on the Chinese and lost, I hope he gets his comeupence one day, mean while I am hoping to claw some back here, I have been here almost three years, let’s hope we are on the final stretch to a real rate with the licence granted ASAP.