Member Info for Super_Mouse

I said nothing about Bull or Hype just start putting out news other than 'This has completed' or 'we are waiting for that' now. How about some insight into technical progress or other discussions with corporate contracts, marketing campaign. The RNSs are as dry as a bone and give little insight into actual commercial progress.

This isn't a deramp just utter frustration at the company.

Value of this company not country.

This company needs to sort itself out around Comms. I'm hoping the new British CEO focusses on this as it's now having a damaging effect on this value of this country.

Part of the issue is they will announce an acquisition or regulatory process and then hear nothing for months until confirmation or conclusion. Keep in mind these processes have literally impact on the day to day operation and technical developments

It beggars belief that a company can go so long, as a start-up in a fast developing market can go this long without reporting anything of note.

It's becoming beyond annoying and makes me question if these guys will adequately harness success when it arrives.

Gordon, I can see what you are saying regarding Roland stating 'matter of weeks' regarding approval from GOI but I'm pretty sure had he said 'matter of months' or 'next year' impact on the SP would have been catastrophic. Roland is a bit more canny than that.

Harri - You'd be shocked at the amount of committees things like this have to go through. Committees that only sit once a month or quarter. Remember this is India, even in the UK, FCA approval on something can take 6-8 months

I'd be highly surprised if it happens by the end of the month. I did a lot of research on this as I didn't want to fall into the 'could be tomorrow/next week's brigade and it's best to get your own expectations set as otherwise it becomes painful. It also provides a better guide to know when you start topping up. I'm sticking to 8 months as a guideline but obviously DYOR

hi ****nal - that's what i thought initially but apparently these jvs are handled very much in the same way as m&a situations. maybe the indian company thing might swing it a little sooner but even with a load of ahem..cash..thrown at the situation 6-8 mths is probably the best we can hope for.

Been trying to find out the typical time period is for the GOI and Regional approvals for a situation like this and I'm getting an average of 8-12 Months. This wouldn't surprise anyone who lived through the agonising GSPC legal episode.

I'm hoping the can pull this through quicker but apparently 8 months is only in exceptional circumstances.

The legacy prospects of Namibia and Italy are millions of dollars and years away. The data room for Namibia has been open 3 years or so with practically zero interest and we all know anything Italian takes decades to evolve. Time and money this company no longer has.

Cecilia Yu is experienced mainly in the credit markets, which is worrying from a CLN perspective.

It's clear that Dan was peddling and empty pan and left when they found out the cupboard was bare. Personally, unless this becomes some form a shell and goes down the route of an RTO then things are likely to deteriorate rapidly in the coming weeks.

I think Dan's decision to go has the few remaining board members flapping and putting out RNSs to stem the outflow of investors but the reality is nothing is going to happen quickly enough to save GBP , Unless they announce something within a week or two.

Over £50k apparently dropped out on a Monday morning and mostly rounded volume amounts, it's either someone who has found another short term prospect (plenty of bounce plays currently) or the MMs / Broker giving someone a cheaper off market buy-in at a much lower price point (yes it happens). Hopefully , based on the latter scenario, someone knows something

Well then, AZ must be praying that institutions will want to partake in a placing retail investors wouldn't touch.

Unless he can find some more of that 'Magic Italian Money' then it's looking pretty glum.

I would suspect that , if the diamonds exist at all, the real reason why VAST have not taken receipt of them is because the Zim government wants £2-3m in some form of payment for them (as is the way in Africa). Therefore, the lack of progress comes as no surprise with the current state of the companies terrible finances.

The institutional credit marker has become very tight as economies in Europe have contracted rapidly. It's unlikely to find insti or solo private takers.

The current buzz is that a public raise is being organised and it could be significant. There is no talk of takeovers.

The spread is ridiculous hence the wild swings.

Loyal Trader - Ok please post an RNS with that kind of disclaimer .

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