Member Info for steward1

Will be interesting to see if Jones is adding - he clearly believed in AP and Vast.

Whatever AP has said about the diamonds, he will have had to be cautious. Personally, I don't think that he's allowed the excitement to get the better of him.

To his credit, ASI did review his estimate of what they might be worth... I'm not going to troll back through dozens of posts but I think he might've doubled his previous estimate. I'm sure he'll correct me if that's wrong.

* miner

Every trade and investment has risk. By 'invested', if you mean a guaranteed return then, prior to this stage, I'd probably agree. However, given the imminent sale of the diamonds, a cash boost and eradication of debt, if AP can deliver on even a couple of the projects then I'd suggest that the return here is looking very healthy.

It's interesting that AP has aspirations of being a medium sized minerals in the near future... either he's mad or has a pipeline of projects that we don't know about yet.

Some folks are just impatient.

Market cap is still less than £10m... diamonds could be worth that alone... possibly more, possibly not... I'm taking an optimistic view and think that most of us will be surprised. The door is now open to get back into Zim... which will be a huge boost. I liked what AP had to say about everything else... obviously has been constrained by lack of capital and the debt but he has managed to navigate thus far - the future looks very bright compared to where VAST was. Could be the turnaround story of the year.

Interesting, ASI - he has said that debt is extinguished and that the parcel was better than expected so it feels like they could be worth much more. I'm happy to wait and see.

Spot on, Acker.

We're back in the 'GR must deliver' territory. I'd be way more comfortable if we were saying that 'GR must deliver with the help of Glencore' but it seems that we're not.

What a week - my wee ticker can't take it. Prem announce that Glencore have given them a LOI and VAST confirm that they're in possession of their much-doubted diamond parcel taken by the Zim authorities 15 years ago.

Ell done AP.

AP's plan is working and the 'better than expected' diamond parcel has been released. Market Cap still only £14m and the diamonds on their own could be worth that. Serious re-rate now expected!

Irispickles - I think most of us long termers have been hoping/expecting that there would be a change in leadership and approach. Yes, Glencore have given us a loi BUT there has been nothing officially said about them being directly involved at Zulu yet and clearly they are not offering funding. So GR now has money in the bank and it's the same ole, same ole.

Disappointing!

Good points, Acker... GR had the opportunity to reassure everyone that all those things were happening but he chose not to. Perhaps, because he's in the middle of getting all that sorted and was limited on what he was allowed to say?

I'd be disappointed if it's back to the same ole, same ole.

I've got a lot of respect for you, Acker but I'm going to assume that you're still trading and not holding much just now!

Iky786 - I'll remind you that Canmax do not want GR remaining in situ. There's more to come out about Glencore's role going forward and the shape of the final deal is still to be determined! ;) I'm as confident as I've ever been that this is going to turn out very well for us holders!

Long-john-silver - or he gets the funds from a 3rd party ;) As he implied in the interview, confidence is growing and sentiment has changed. Charlie Archer hit the nail on the head with his article - Glencore have done some serious DD. They're confident that the plant will be fixed with the 3 upgrades that GR mentioned in the interview and that there is plenty of sc6 to go around. I believe that Canmax pointed GR to Glencore and also pointed him to a funder, who may or may not also be Glencore!!!

Given where we were (and I know that I've been pretty confident that there was a solution for Prem and Zulu), I'll still be gobsmacked when GR issues an RNS in June or July to confirm that the plant is running and producing sc6. I'll still be gobsmacked if he does this without any more dilution. I'm really tempted now to sell everything and put it all in here!

I should've added that the way that he spoke suggests to me that funding is more or less sorted.

I agree, Dr J. With Glencore's support, I think that a dilution is the least likely option.

Don't know how you conclude that, willec? He'll need a few million at least.

Short and to the point but lacked any significant information. I had hoped there would be more about funding but a very short answer to that question which may or may not imply that there is a raise coming. No talk of him being replaced either. Still 3 issues to be addressed which are likely to take 12 weeks... come back in July?

Hopefully, we'll get some more insight from the interview although, because the RNS doesn't say much, I'm not sure that we'll get much certainty. I'm looking for GR to say that they're exploring non-dilutive financing options. I think he will indicate that there are other parties very much interested. He should say something about his own position too and the role that Glencore will have (I assume that they'll take over management of the plant at the very least).

If the interview is positive then sp should get a boost.

Will be interesting to see what his demeanour is!