Member Info for steward1

I guess that's my point, ASI, we don't have enough info to know whether BP is profitable yet.

ASI - or it has hit profit but not sufficient to fund the upgrade work or cashflow across the piece is an issue or income hasn't happened when expected...... I don't think we can pin it down to one thing alone.

Anyway, I listened to the interview and I'm still holding and still think that the risk/reward here looks pretty good. BP production update plus the interims are going to be interesting reading!

Yes Sandy - whilst I'm disappointed about the placing, I also think that there's a positive in that too. A lot of placings are forward sold at a higher price (that's part of the reason that they can get them away) but I think the participants in this one have been sold it on the basis of good news coming... 1.225 billion shares haven't been sold in the last few days. Has AP convinced participants that the production numbers will be good and/or that there's more certainty about the diamonds being returned?

Certainly have sympathy with that approach, Stockportedd.

Why are people buying? Strangely, I think that this placing shows that VAST isn't going bust!

I guess we'll not get to the bottom of why AP was giving assurances that there would be no dilution only 7 days ago. If he genuinely believed that then someone, somewhere got their figures wrong or some revenue was expected which hasn't materialised/won't materialise when they expect it to... personally, I don't accept that the placing is mainly for the BP improvements. If he was knowingly miscommunicating then that's a matter for the authorities. The Nomad doesn't come out of this shining in glory and has a case to answer for.

And then there was the mysterious trade of 220 million late yesterday - buy or sell? If it was a buy then they will be very unhappy and, if it was a sell, someone appears to have got the nod!!!

Acker - I did say Vast was bonkers but I think most holders took the CEO at his word last week when he said in an RNS that shareholders were insulated against further dilution. Another example of deliberate miscommunication from a CEO?? Be warned... I'd categorise GR in the same way as the VAST CEO!!

Neil777 - this has nothing to do with luck!

Can't defend AP after statements over the last week... 16/1/24 'whilst insulating shareholders from dilution.'

So there appeared to be a trade for 222m at 4:20 at 0.13. Can't see it now on LSE or ADVFN and I don't have the appropriate access elsewhere to validate that but that's over 5% of the issued shares. Probably a delayed trade... don't think that anyone has a holding of that amount (except nominee accounts) so my guess is that it's a buy.

If it is a buy then that is extremely interesting and we should get a holding notification... and the sp should fly!!!

Don't have access to live trades just now but on google it looks like 222 million just went through!!??

Certainly think that there are more announcements due like this morning's and I'm hoping for a very positive update on production at BP (could drop any day now). You can see why AP is bullish about VAST's prospects and support from lenders (quite apart from the diamonds), and frustrated by the sp.

Feeling a bit less risky compared to previously and looking more like we'll get a significant run north on the sp!

I'll try not to, Acker. I'm finding another bonkers company very interesting at the moment (VAST) - could be the recovery story of the year??

Acker - I'm in a glass half-empty mood, I'm afraid.

Proceed with caution - GR has been at the starting gate with a few assets and hasn't really got going. Has had to pull up in a couple of races too!

My own view is that production will start in Q2 (there's a lot that could still go wrong including getting a huge ball mill to site on time) but it won't be the SC7/8 that he is now allowing people to believe. Funding will not be as straightforward as people think and it will be very, very expensive.

And for those who are new here, GR has always said that Zulu could produce spod at very low cost and now we're hearing that the $800 that he's quoting is relatively high!??! Combine that with a falling spod price and he might find that he will be coming back to shareholders!

As for the EGM notice that he refers to in the interview - he only said that he hasn't issued one. He didn't say that he hadn't prepared one.

Once bitten, twice shy! Deja Vu and all that!!! AIMHO.

Proceed with caution!!

Lenders are supportive and AP expects an extension, if required, so it appears that VAST is safe. Take time to watch his interview - there's a lot of good stuff in there.

More good news to follow - BP production figures are expected anytime.

Yes, there was a ramp at the end - some folk seem to be getting carried away again!

I've not been commenting much at all but fwiw, after 7 years of GR's RNS's and interviews, I'd have to say that I'm still not convinced yet. The ball mill is later than expected and it feels like there is still a load to be done before spodumene is actually produced. I will be pleasantly surprised if the end of February is met and if the quality of the product will be as George has indicated.

Over the years, GR has had the habit of bringing something new into the mix to change the focus and this time is no different - apparently all the spod is going to be very high grade... not SC6, not SC7 but possibly SC8. Forget that not even SC6 has been produced to date and that it is all still delayed and that the plant isn't yet complete. He clearly needs the sp to be higher than it currently is - I questioned the other day why the RNS was issued and I'm now convinced that he's desperate to see it rise.

That leads to funding, it was a surprise that GR is actually going to deliver some sort of resource statement and I think he's been forced into this position because potential lenders are demanding one. Have to say that I'm not as bullish as others about whether GR can convince anyone to give him a loan... have to also say that I think he will already have approached Canmax for support... they would seem to be the most logical place to start. If he has approached them and they've said no then that isn't good at all.

Just not convinced yet!

I'd take these as opportunities to add as I did yesterday. I'm expecting/hoping for the sp to recover substantially - when it moves, it does move quickly!

My view is that there's lots of positive news to come any time - after AP's interview yesterday, I don't think that VAST is going to lose the support of its creditors or is going to do another placing anytime soon. The BP production numbers should show continued progress (expected any time in the next 10 days or so) and AP teased us with some other tasty looking projects yesterday in addition to the Gold arrangement.

The diamonds will be a bonus but all the other stuff is where the real value is.

AIMHO!

IQ/Muck - you can see why lenders would be supportive and why AP would be confident that there is no imminent financial disaster... in fact, it really does sound like this worm has turned (Two Ronnies reference... probably wasted in anyone under 55!).

Could be a fantastic turnaround story here! I would be very, very happy if we got back to last year's highs and would dare to dream, if it all falls into place, it could go much higher. Risk/Reward is looking even better this week.

Despite my negative views about GR, I never thought that we would be floundering at this price again but I'm still very nervous about whether Zulu will get over the line.

Good of him to give us the heads up that he needs more cash (no surprise there) and that we'll get a resource statement this quarter. It does appear that Zulu is not yet a bankable asset... wonder why he can't get a loan in the short term!!??!!

Really not sure about the timing of this RNS though - there is nothing concrete in it and all of it could have been released later - he's bound to have known that the sp would drop further!

I thought there were a lot of positives in that interview -

- reassurance that lenders are supportive and debt extension in the future is anticipated

- explanation of the debt update RNS

- reassurance that the co isn't going bust anytime soon

- reassurance from a number of sources that the diamonds do exist

- a number of other revenue-generating arrangements are in the pipeline

- doesn't sound like there will be any placing needed

And I assume that he couldn't talk a lot about BP production because the RNS hasn't been issued yet.

Yes, Ivans, after a confusing couple of days, we can now look forward to an update on BP production where we expect to see continued progress in the last quarter (hoping that AP will get this out asap). Would be helpful to understand what other income VAST is receiving from Taj projects.

Given what is stated in these RNS's, I'm also more confident that AP can re-finance without the need for the creditors to take any threatened action. Let's see what the production update says!

Oofy - tbh, I don't know about Mercuria's MO, etc but, come 1st March, they have the ability to take action and will chose whether to or not at that time. I'm sure that AP will make his case.

As for the ZimGov's response, they want and, I'd suggest need, to be a country where foreign companies can operate without the historic shenanigans (and worse). I believe that there will be some satisfactory outcome at some stage regarding the diamonds.