Member Info for TigerByTheTail

GDX - the general gold mining share ETF, and GDXJ - the ETF for junior gold miners, were both up by about 6.5% yesterday.
Isn't it about time for Hummingbird's SP to wake up and stir itself?

Well, I for one fully expect to read a placing RNS at 07.00 tomorrow morning. I expect it will use up all of this year's remaining headroom at about 0.59p to raise the money needed to pay Baita Plai up front on the signing of contract.
If I'm right it's an ugly move that can only be forgiven as an emergency measure.
The clients of house broker SVS will have benefitted richly from this situation; that's why they were all silent today.
It's all a bit sordid, but sometimes a company just has to do what it takes. I wish I'd got the message earlier!

Hi Krazy!
That's what I'm thinking - i.e. Vast don't have the money to pay Baita Plai the sum due immediately on the signing of the contract on Wednesday (about $600,000, I think). So, an urgent placing to raise that money, using the very last of this year's headroom.
Only after the Baita Plai contract has been signed on Wednesday can tranche 2 of the Mercuria money be accessed and Vast move forward more normally.
In short, Vast simply ran out of cash at a critical moment. Let's hope the placing discount isn't too horrible and the market forgives Vast for this emergency measure fairly quickly!

IMO, it has to be a smallish placing. For the remaining part of this year's headroom, happening tomorrow morning, and being heavily presold today.
Price must be pretty low - 0.60p?
I can only guess that Vast simply ran out of cash and had no choice about it.

Podcast was excellent, with some very interesting extra comments about Marange.
Burberry RNS good.
No idea about SP - but crooked games are being played here.

I've just been offered 0.5995 to buy. So I did.
But WTF is going on?!?

I agree. In fact, it's plain obvious.
All theories as to why welcome.

Yes, I was going to note that the soil sampling was very interesting as well:
"In the southern portion of the Blueberry perimeter, a 1,700 metre long east - west striking, previously unknown anomaly has returned gold in soil values of up to 17.7 g/t Au. The anomaly has returned an average value of 4.62g/t Au from the soil sampling exercise"
Some of the drill results are pretty good as well - it looks like it's really a gold deposit with some silver potential, rather than a true polymetallic one. But nothing wrong with that!

Hi Schmoops!
As the resident board pedant, I should say that it is a "breccia" pipe at Blueberry - that is a fused mix of mineral bearing material of volcanic origin. And, yes, it's good sign...

Quite a lot of "new" news in that podcast:
1. Sign-off for Baita Plai contract on Wednesday. Work on restarting the mine starting on Monday. It's on!
2. Heritage Concession at Marange sounds very much like it is happening as well. Probably fencing and "bulk sampling" very soon. James Campbell of BOD name checked as the world expert on alluvial diamond mining (which is only fair enough).
3. Old Marange claims also mentioned, obviously "in play".
4. Eureka - progress being made towards reopening mine, but not imminent.
5. Blueberry - all applications and paperwork delivered to ANRM on time. Drill results hinted at as very good, but without details.
Finally, I wouldn't be entirely surprised if there needs to be an equity raise soon to pay for Baita Plai contract commitments / Zagra drilling / Marange work. But this isn't like paying for the endless dewatering of a mine that you can't use; any money spent on them will bring back much more money for us all in the long run.
So, IMO, excellent progress!

For me, the question is, what happens when New York Comex opens up at 1.30 pm our time.
Does the Fed organise a smackdown in the paper gold market in an attempt to keep up confidence in shares?
Or do the hedge funds (which are heavily short in gold) all rush to buy back and get out, sending the gold price up even further?
(BTW, CEY now up 8%!)

Hi Sandy!
If AP is away at the mining conference in Zimbabwe, together with James Campbell, CEO of Botswana Diamonds, and the Zimbabwean Minister of Mines, Winston Chitando (JC tweeted a picture of the two of them together yesterday), then it is possible that he is very busy discussing something very important!
That the licence arrived is wonderful. But I have a feeling that the precise timing (market turmoil) + AP in Zimbabwe could not have been worse!

Gold now through $1,204 and still rising. Most big gold miners up - Centamin by over 6%. The big goldies almost always move first, but the news should get down to the smaller producers fairly soon...

How can there possibly be a placing offered to insiders (other than a tiny one with this year's remaining headroom) before the new 15% dilution headroom is granted at the AGM in two weeks time? It's a legal impossibility, isn't it?
IMO, the lacklustre share price is more due to general market conditions (awful) and lack of PR. But I'm waiting to be proven wrong!
Anyhow, Vast WITH the Baita Plai licence at this market cap is an absolute steal - even given the company is probably short of cash right now. I am happy for there to be a placing if the money is going to a quick reopening of Baita Plai, for drilling at Zagra, and/or (above all else), the start of diamond mining at Marange.
So, I have been buying, and will be buying more.

Yes, thanks Tom for getting us in the Daily Mail again.
For any Mail readers coming here for the first time, the point is that Vast has a whole lot more than just this newly licensed Baita Plai mine.
Other assets include:
In Romania: Manaila - operational polymetallic mine; Zagra - highly prospective copper exploration licence
In Zimbabwe: Pickstone Peerless - operational gold mine; Eureka - old gold mine currently being brought back into production; and (potentially best of all) a new deal to develop part of the famous Marange diamond fields.
All in all, Vast's current market cap is a bit of a joke...

Wait for tomorrow! - RNS came out at 14.00 and didn't even show up on this website...

35m quid market cap for Baita Plai + Manaila + the potential of Zagra + Pickstone Peerless + Eureka + the possible immense potential of Marange...
No, this news is definitely not "priced in".
My guess is we'll see a big rise tomorrow as the news spreads and the PR machine grinds into life. The RNS today caught everybody on the hop.

Hi Jayfella!
Hopefully, there will be news of a new diamond policy for Zimbabwe coming out of that same conference in the next 48 hours as well!
I'd expect the results of the due diligence to be reported soon after that, together with the news of the conclusion of a contract with Red Mercury for the exploitation of the Heritage Concession.
All just in time for the AGM!

I know. I just bought more at 64.4p Very slow market reaction!

That was an NPV of $100m, not a single C-bill!