Member Info for steward1

Heading to 0.05p this week. Feels very much like something positive has leaked from site. A positive RNS will push this even higher.

Something positive must have leaked - will we have 100% in a day?

Acker - very much doubt if GR will be calling anything. He'll be clearing his desk in less than a week and will be escorted out the building!

Iky - Doesn't look like consolidation is going to happen in the next few weeks, does it.

I do wonder if there'll be a deal with Glencore which incorporates the consolidation.

News could drop anytime and the expectation is that it'll be positive if those who are suggesting leaks are correct. Not the time to sell or take profit imho!

Jungmana - I agree... if this week's tests are successful we should get to 0.05p easily. We then will get an announcement from Glencore/Prem about the LOI... given that Glencore have been well aware of the plan and what could be achieved within this 3 month period, I expect them to convert the LOI at this point. SP will bag again on this news.

I've said before that they don't do being 2nd fiddle so I expect that they'll take majority ownership of Zulu... perhaps, the whole of Prem. I won't put a price on that - it really depends on where the sp gets to in the next 2-3 weeks.

The doomsters and shorters, for their own obvious reasons, don't want to hear that there is a route for Prem to succeed here. They will continue to jump on any negative and peddle their view that Prem is a lost cause... which clearly is not the case. Prem are back on the brink of getting the plant running and producing sc6... the uplift in the sp when this happens far outweighs any impact that the debt has or the impact of short term funding needs.

Undoubtedly, there are still challenges but there is huge potential here... the risk/reward is substantial.

One step at a time - this is back to being a potential multi-bagger.

AIMHO... DYOR!

Acker - hope you're well.

I don't think that we know what criteria Glencore have set to determine what they do here. We know that they/Prem need to say something in a couple of weeks and, personally, I think that they'll say 'we'll take it from here' a lot sooner than 3 or 4 months down the line. I expect sc6 to be produced in this phase, if you like. GR is departing and GH has been brought in to run a plant next week - I think the confident expectation is that this phase will be successful.

As for the debt - I would be very surprised if the Canmax part of the debt (i.e. the majority) is not kicked down the line. I'm taking the view that we'll hear about the next phase of funding after GH is in post and I think it's 50/50 whether existing shareholders need to cough up.

This is all still high risk but I expect Prem to confirm that the plant is operational and that sc6 has been produced - the rate of production is for GH. So I'm betting on a massive re-rate in the next week or 2.

AIMHO!! DYOR!!

The doomsters and shorters are out in force. They simply have the inability to see anything positive - their lives must be absolutely miserable and I've always got that image of Scrooge in my mind when they're spouting their negativity. It's really important to know that folks sitting in boardrooms don't have the same outlook and approach that the bashers have. Canmax and Glencore are not looking to steal Zulu/Prem... if that was going to happen, it would've happened a long, long time ago. Glencore have done their due diligence and have agreed with Canmax the approach to getting involved.

The number one focus here is what is happening at Zulu and whether the plant upgrades will work... there is plenty of confidence that they will. Enprotec are a completely different outfit compared to Stark - they're the real deal. Canmax, Glencore and Graham Hill all know this. GH is a seriously good appointment - why on earth would he accept a position if there wasn't going to be a plant that works? I think that we'll get more positive news this week - could drop anytime and then we're off!

At this point in time, the doomsters and shorters are taking the much, much bigger risk.

They will possibly need more funds but, if they can get Zulu running and producing sc6 enough to satisfy Glencore (and convert their LOI) before they need the funds then this does have the potential to multi bag... if Glencore then come in with an offer to buy Zulu or have a JV then absolutely this will multi bag. Might be some turbulence this week as people decide their positions - personally, I've got confidence in the team that has come together now. GR has very limited influence over what happens now!

Didn't see your message Wolf, I was typing!

Yes, I believe that there's a lot of confidence on site. Enprotec are the real deal - they've seen what this project has done to Stark's reputation and they're confident that they will not have the same fate.

Graham Hill officially takes over in less than 10 days. He'll have had a thorough look into Prem and Zulu, and will already be kept informed on progress. Glencore, I believe, have had someone on site. With the oversight that Canmax already have and with the other pros on site who, reputationally, need this to succeed gives little scope for GR to mess this up... he's already just watching from the sidelines. In any event, GR will be doing everything within his power to ensure that Zulu succeeds - he's got a retirement to fund!

Once sc6 is produced, the sp will multibag and we might see Glencore step in with a juicy offer.

We need more positive news before any news on additional funding and there's a very good chance that we'll get it very soon.

Glencore have not indicated their interest in Zulu for a laugh and Graham Hill has not agreed to join a company who are about to fail. They both know that sc6 can be produced and they're both confident in the upgrades being made. There are serious experts on site and it's only a matter of time. AIMHO - dyor!

Shorters have had their fun and they'll be slipping away quietly now.

Wolf - haven't posted for a while but I agree with you. I expect positive updates to come thick and fast now.

I fully expect Zulu to produce sc6... the question is when in relation to any possible financing steps.

Thought it was very interesting that Canmax chose to take shares last week.

Can now buy online with HL.

Perhaps, one fundraise too far this time!

AP already had £2m from the exercise of warrants and now he needs another £2m despite having had a bag or two of allegedly valuable diamonds for quite some time. The timing of this is all down to AP... can't see how the technical review couldn't wait until after at least some of the diamonds were sold. With last week's RNS, this isn't looking so rosy now.

RNS was disappointing and points to an underlying issue with VAST.

Once again, AP is reviewing, re-evaluating, reassessing BP and other assets... when is this going to stop?

We don't know yet how much cash AP will have once the diamonds are sold (and it appears we won't know for some time yet!) but the delay here and the re-visiting of questions that should've been answered a long time ago is a real concern.

Acker - I think GR is hoping to get some success from the initial fixes by July and, by foul means and fair, make the current funds last until then. If he shows progress and can start negotiating with Glencore and Canmax at that stage then the sp will rise (significantly) and it becomes a different ball game altogether.

Haven't posted for a few weeks and don't intend posting much but here's my thoughts.

Expected fundraise done and gives a buying opportunity. Shares locked in for 1 week which provides a window for recovery.

Progress on site not as expected but GR made it clear in his last interview that he needed cash to get things really moving.

Bum steer on Glencore committing to Zulu at this stage... but they will be on site this month and next to monitor progress. Bum steer on GR's replacement too. I won't say anymore on that.

Next news and timing of it will give a clear sign of progress... internally, there is a lot of confidence that they'll get Zulu over the line.

I concur with Acker.

Clearly, this is not for widows and orphans!

Shaping up really nicely now... £2m in the bank from the exercise of warrants so far and news to come on diamond auction any time now. Real confidence shown by the warrant holders that they expect the sp to soar from here.

I get what some folk are saying that there is perhaps more to come regarding outstanding diamonds, other companies' diamonds taken from VAST concessions and the Zim gov't but the really big news will be what VAST will be doing in Zimbabwe in the future.

For me, I trust AP and think that his tenacity and perseverance have been key to getting us this far. I can see quite easily why he thinks VAST will become a mid-tier mining company.