Member Info for steward1

A figure of $18m was put on the diamonds in 2010 and with price increases, that figure should now look like $24m... however, I believe that was a very conservative figure.
That is a major boost in itself but much, much more than that, VAST can now get back to mining in Zim... this is massive.
Not only that, BP looks as if it is breaking even (no cash call since Q3 last year) so there is no cash call needed there.
The worm has turned!
AIMHO

ThreeStripes - it's even better than that. Discussions have been taking place with the Zim govt for a while now and it appears that there is an agreed way ahead to allow VAST to get the diamonds back (which is great on its own) and to re-start mining in Zim. The court action seems to be a rubber stamp and is technically required due to what happened in 2010.

It's looking very good for VAST.

Here's a bullish article on VAST from May last year.
https://ukinvestormagazine.co.uk/why-vast-resources-shares-could-be-set-to-explode-higher/
Whilst a lot has happened in the interim, there's a list of assets and interests that Vast have.

So here's the position at Chiadzwa according to the Vast website -
'The Chiadzwa Diamond Fields located in Marange are widely regarded as the richest alluvial diamond deposits globally.

In September 2019, the Company announced it has signed a Joint Venture Agreement with Chiadzwa Mineral Resources (Pvt) Ltd (“CMR”), a company designated to represent the Chiadzwa Community interests in the Concession. This resulted in the formation of Katanga Mining (Pvt) Ltd (”Katanga”). A further Joint Venture Agreement between Katanga and the Zimbabwe Consolidated Diamond Company (Pvt) Ltd (“ZCDC”), a government entity which represents the Republic of Zimbabwe in the diamond mining sector, is set to be officially signed. Details of the Chiadzwa JV will be announced at the same time as the announcement of the ZCDC JV to which it is linked'

Can we assume that we'll get the JV announcement once the case is settled?

Anyone else think that the interim results were released yesterday to allow AP and co to buy?

Market makers quite happily taking sellers' stock because they know what's coming!

RNS could come anytime today or tomorrow morning.

joey - I agree. the chaching guy is desperate.

There's been no cash call for BP so my take on that is that it is already breaking even.

Going back to the RNS on 23rd Jan, it ends with this

'Upon this matter being finalised the Company can refocus its attention back to other opportunities in Zimbabwe as previously announced.'

It seems that AP is confident that they'll get things going in Zimbabwe again. Diamonds are obviously part of the mix but I'm wondering if VAST has spotted any Lithium... now that would be big news.

Hopefully, we'll get confirmation of the court position after hours today but it's all shaping up very nicely indeed!

Billthebank - the way that I read the RNS suggests that discussions with the gov't have been taking place (for a while?) and that the court involvement is simply to rubber stamp what has been agreed. There might technically be a window for appeal but I reckon that the deal is done.
'settlement discussions in Zimbabwe relating to the release of an historic parcel of 129,400 carats of rough diamonds held in safe custody at the Reserve Bank of Zimbabwe (“Historic Parcel”), pursuant to a direction from the Supreme Court of Zimbabwe as announced by the Company on 18 February 2010, has required, for the purposes of their completion, that Legacy Issues be finalised in the High Court of Zimbabwe. To this end, and in order to dispose of the legacy issues that could undermine the integrity of settlement discussions, the Company commenced formal legal action in the High Court of Zimbabwe, and on 31 January the Company received official notice that its Default Application has been set down for default judgement on the unopposed Motion Court Roll to be heard on 1 February.'

Market Cap is still only £14m... long way to go from here!!! AIMHO

The case is uncontested! Please don't post unless you know what's happening!

There's been no cash call, ASI... suggests to me that they're already breaking even.

Even ASI is estimating the value of the diamonds is between $6.5m and $13m. I'd be happy with those figures. However, VAST have been clear that they're also looking to get back to mining in Zim and this case opens the gates. The real boost for the sp has yet to come.
VAST has now turned the corner... and there is much, much more to come!

Spot on, Jamesjohn. With the cash position as it was at the end of October and a million loss each month then you would have expected them to be raising funds in November or December. It hasn't happened so I'm thinking things have gone very well over the last 3 months. With the diamond issue being resolved, it doesn't look like they'll be looking for a fundraise anytime soon. Onwards and upwards!

Thanks Acker but this diamond thing was rather unexpected. Seems that this still has quite some distance to go... tempted to have a nibble?

Prior to this boost, VAST has been priced to fail, hasn't it? Another fundraising would have been on the cards. Now, we could be looking at having sufficient funds to avoid any additional fundraising plus a diamond mine!
A bit like finding a forgotten £1000 in the back pocket of your jeans plus a card to an account with 10's of thousands sitting in it... a bit simplistic but you get my drift!

joeydavison - I agree. Just to show that it can happen, another Zim-focused company (PREM) has risen over 2000% since it's lows in 2019. At one stage, along with many others, I thought it was down and out BUT......

Have to say that Zim is getting its act together and trying to get corruption/criminality sorted. It's a way different place to do business now compared to 2010 and there are now plenty of international companies running successful projects. They really get it that they need external investment and to get external investment, they need the right environment.

I have no worries that VAST can have a very profitable diamond mine in Zim!!

A newspaper article from 2010 values the diamonds at $18 million. If prices have risen by 30% or so since then the value is maybe $23 or $24 million. (Could there be any claim on diamonds mined by others since 2010?)

Much, much more interesting though, as others have said, is whether Vast can start mining again!

This, to me, is looking very positive for VAST.

I've had an interest in Zim for the last 5 years through PREM... the country is trying to change and capitalise on the huge mineral wealth it has. Part of that is to do things right - I doubt if they'll eradicate corruption and criminality anytime soon but this is the kind of thing that they need to enforce... there's a better chance of that happening now than 10plus years ago. Vast have hinted at a resolution for some time now.

Should be a very blue day tomorrow.