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Loyal Trader - A NOMAD or Nominated Advisor is a pre-requisite of an AIM listing. A NOMAD is there to ensure a company's behaviour is moderated, it's communications are checked for honesty and proberty.
If a NOMAD disowns an RNS that's a very serious indicator as to their discomfort as to the content of the RNS. I have very very rarely seen a passage like that from a NOMAD in an RNS. We should expect the NOMAD to resign after such a statement and the stock could well be suspended under the current circumstances.
Put simply, if your debts outweigh your assets by orders of magnitude then you better have a good income to support it.
No amount of clever accountancy or sharp RNSs are going to save you.
Vast Resources are no different.
A massive RED FLAG is the NOMAD not endorsing that GM RNS, I'm expecting them to resign very shortly. Should be a he ll of a week
You seem to have forgotten about the unpaid Romanian Employment Tax, that runs just shy of £3m . Keep in mind also, with each passing month and each missed production target the interest on those loans mount up
There is no rose tinting this. They have a huge debt problem and don't have the revenue means to clear it and now they are looking towards the investors to take the hit. The investors need to reason if this BoD has the chops and the willing to make a success of the company but from the past few years it seems they can't run the operation without borrowing money. Maybe if they all made a few personal sacrifices rather than just just using other people's money. They clearly don't have the confidence as they have wasted very little of their own money.
I agree in part nevergonna but the reason why they are doing all of this is because they have failed to reach an agreement with their Creditors. Therefore they are going to have to dilute to pay them off and not just a 'lights on' raise as usual.
The fact that the NOMAD appear to have washed their hands of it scares the hell out of me as the only times I've seen NOMADs do that, it's ended in disaster for the company. What's the chances of the NOMAD resigning and the stock being suspended before the GM? It might be for the best if they did as it would stop an awful lot of negative manipulation
Consolidation doesn't create value.
You have to think in terms of new money versus old money. We've got people talking about this multi-bagging
The money has to come from somewhere to pay these considerable debts of, you can't just invent money via consolidation, they will have to raise to get the funds and it certainly won't be at a premium. If they did have the value prospect then the current lenders would have held out and they wouldn't be forced to consolidate because the SP is below nominal value. They certainly wouldn't need a GM to ask investors.
The simple fact is, their debt is triple their Mcap (which is questionable at best) for investors that either means voting for massive dilution or pressing the spin the wheel button.
I have very little in here, about £4k, but my mind is made up. Rather try my luck somewhere else. This is too much hassle to be worth it now.
Good luck all
Companies on the FTSE 100/250 are generally accountable to their shareholders, many of them huge institutions.
Companies on AIM have come here to raise money, primarily through dilution of the value of your shares until they create another revenue to stand on their own. It's nothing to do with creating value for retail PIs and if they do it's more down to luck than skill.
This company has had years to achieve the latter and has continually failed. Like a growing handful of companies on AIM, this is depriving the index of liquidity and damaging it's already tarnished reputation.
Question is, do you wait until consolidation is voted in with the resultant massive dilution or do you vote against it and wait for the creditors to submit a winding up order and buy it for pence in the pound and allow AP to walk away considerably richer ?
Anyone who is familiar with anything official and buearcratic happening in India, knows this is going to take months to sign off.
They need money now so expect a couple of raises before it gets signed off
It's becoming a massive turn-off for everyone else visiting this board , reading this childish daily bickering and nitpicking .
We all know the potential here, it'll happen when it happens, either to tomorrow, next week, next month.
This constant diatribe is wearing everyone down.
Take sometime off and come back when news happens, for the love of god, please.
Whenever I see volatility like this and the MMs messing with the spread like they have, it invariably means something is about to happen.
Could be deemed a closed period if news is about to drop. They might give him incentives options. Hopefully in the 5p region
Usually when we get strange volatility like this IT generally means there's something in the pipeline.
Feels newsy
To my mind it's all on track. But it needs some indicator or revenue and projected revenue to really get moving. It should have small ruñing costs, unlike say a drilling company, so profit retention should be huge.
Might be wrong but didn't we get the nod around this time last year.
Things will be a lot different this time with so many things now in place
Been reading these boards for ages but thought now was a good day to jump in.
Folks, need to remember there has been a number of placings around the 1p region aside from Raphael. I'm hoping these will be sold down before the news flow and these (apart from the 10%) gone will ensure the stock will fly when the news flow starts.
I think it must be close now.