RE: yrabsmurruc/Castaway/Perr26 Sep 2018 08:59
Whilst I agree that we do have potentially bigger fish to fry I would have to stress that right now the BPL landing is of the utmost importance as it allows Tranche B drawdown from Mercuria, which has big implications for the company as the plans for that are new processing plant which will have a material effect on the balance sheet of the company. As per the RNS on 25th Jan it is linked to BP in my view:
Drawdown of Tranche B is subject, in addition to customary due diligence and agreement of documentation, to a technical and financial due diligence on Manaila and Baita Plai and the completion of a Baita Plai plant investment plan validating the business of that mine. Tranche B would be secured on the Romanian assets of the Company.
Now as we know the DD for the initial Tranche A drawdown was very complex due to the different jurisdictions that Vast operates in so I genuinely think we're caught up in legalities/paperwork and this historic shareholder nominee issue. Once sorted newsflow can commence.