Member Info for steward1

I think you're right Sandy - there's been reference to that before. I guess that giving something priority might not necessarily mean that he will pay all of the debt down. I'm looking for him to consider everything in the round. Getting Zim re-started sooner rather than later might be a good thing to do... who knows, the Zim authorities might have placed some obligations on VAST.

I agree Redhammy... however, if the news of re-starting operations in Zimbabwe comes at the same time then we'll see a much higher spike.
A couple of other factors to consider
- what will AP do with the funds from the diamonds
- what happens to the debt and how much, if any, will we carry forward and on what terms
My guess is that we can be much more relaxed about the debt position and any re-negotiation or setting of new terms.
It's all positive from here!

Second tranche of the placing comes tomorrow.

It's worth pointing out that the sp has increased by around 40% since the placing was announced.

Looking forward to a blue day/week after yesterday's late RNS.

The exercise price shows some confidence in VAST's future and timed just before the release of the diamond news. For these guys to really benefit from the scheme, the sp will have to multibag - I think they know that this is going to happen and happen soon. AIMHO

Very interesting RNS - very positive. Rights not exercisable until sp is above 1.21p... which means they expect the sp to soar!!!
And they're getting this in before the diamond news. Looking very positive!

Can't remember AP's exact words but he said something like the VAST legal team were on standby in Zimbabwe so my position is that I think that all the boxes have been ticked and they're just waiting for the call from the Central Bank. RNS could drop anytime between now and the middle of May.
Have to admit that I'm much more interested in the plans to re-start operations in Zimbabwe!!

ASI - I don't know if you've been in this situation and can confirm some of this or not but an acquaintance suggested the following (he's not professionally involved in Zimbabwe and doesn't know the legal system there but some of this sounds reasonable and could explain the length of time).
'Once the legal case was settled in court, there would be processes that both the government and central bank had to follow. Rather than VAST toddling along to the central bank with a note from the court, it would be for the government to instruct the central bank to release the diamonds... that instruction would have to be composed by government lawyers and agreed/signed off by government minister(s).... it would probably include a transfer of ownership of the diamonds from the gov't to VAST. Along with the instruction to release the diamonds, there might also be some requirement for VAST to detail what they were then going to do with the diamonds and get approval for that. Given the lapse in time since VAST were last operational in Zim, they may have had to renew a licence or 2 to handle and sell the diamonds. The central bank would have their own processes to validate the court ruling, the instruction from the government and VAST's title to the diamonds. The bank might also want a plan for the physical release of the diamonds including security arrangements. Once all the paperwork and approvals were complete, it might take some time to actually schedule the physical release for practical and security reasons. At the point where the gov't were indicating that it would happen at the end of April/middle of May, my guess is that the government had done all that they needed to do and that it was in the hands of the central bank to validate the paperwork, approve and schedule the release.'
From your experience, does that sound reasonable? Would VAST need to have/renew any licences to handle/sell/export the diamonds?

No point in getting impatient now! RNS could drop anytime.

Why on earth would they RNS that the stones have been viewed by the legal team? Ridiculous!!

Apparently, AP turned up at the central bank in Harare yesterday with his wheelbarrow and was advised to come back with a bigger wheelbarrow!
Joking aside, there's plenty of speculation that the big news is imminent... if not today, Monday. And these next few days/weeks could be the most significant in VAST's history. What's happening?
The return and sale of the diamonds will enable the debt to be taken care of (massive!) and this will trigger a return to operations in Zimbabwe (even massiver!).
First sales from Takob (remember, there might be other deals like this one coming soon).
BP continues to ramp up production.
VAST becomes an even more attractive investment for II's!
The above means that the sp should be way, way higher in a few weeks' time (AIMHO).

Heading towards the central bank so the said wheelbarrow was empty.

Passiton - we only do serious wheelbarrows where I come from... seriously heavy duty ... can accommodate a whopping big parcel of diamonds!

You're such a ray of light, Firwood!

Wheelbarrow size!

AP spotted in Harare wheeling a barrow towards the central bank!

It's a timely reminder that II's are taking an interest in VAST and that things are hotting up.

Some speculation that we'll be hearing something about those diamonds by Monday's opening so not one to be out of over this weekend.

Sandy - good to see someone correcting grammar (says a man from a certain generation!!).
Yep, it was a real mess last year with Atlas and AP was clearly caught out. It's only a gamble, though, if one is depending on certain events happening within a certain timescale. I'm trying to take the long view and be patient. I've never had any success jumping in and out... although I'm sure that others do,

It's possibly naive for me to have this view but, given the problems in the past, surely AP would have plan B ready to execute if the diamonds are stuck in the bank vault.
From your experience, how long would it take to get the diamonds cleaned, etc and actually sold, i.e. money in the bank?

ASI - thanks for sharing your knowledge of diamonds... invaluable. You've said that you're in VAST for the copper and I agree that the potential is good and, whilst the improvement is slow for some, BP is heading in the right direction. The return of the diamonds is an unexpected bonus but I do think that the bigger prize is if VAST re-start operations in Zimbabwe.
As for timescales, patience is the key - from my experience with co's operating in Zim, things just don't move at the speed we would want so, whilst AP expects the diamonds parcel to be returned by the end of month or middle of next, I wouldn't be surprised if those timescales were not met... which may or may not cause AP a major issue. I'm relaxed though and looking further out to the end of this year and the following 2 or 3 years.
This is AIM though and the money here is impatient! I had hoped that the rise at the start of the week would be maintained but I think we could be in to drift mode until the next big news hits. I'm hoping that we hear at the start of May but I'm prepared to wait. As well as the return of the diamonds, I expect an update on re-starting operations in Zim at the same time.

ASI, I've got 2 Lithium plays - one is just starting to produce (PREM - been in for years and have got the grey hair to prove it but it has 30 bagged from lows!) and the other just announced a jv with a very interesting extraction method (CLON).
Got involved in VAST through PREM oddly enough. Heard rumours of VAST getting back in to Zim a while ago. Zim used to be a complete, untouchable basket case but it is tidying up its act, partly proven through it's actions with VAST. Very interesting country - huge natural resources!