Member Info for V111JAS

"The market will respond once vast has no debt and then has BP up and running plus diamonds."
I certainly agree that comment , however there are some serious obstacles before we get to that point , and this is not likely to happen in the next six months as some have suggested .
GL .

Have you had a chance to think about my question ;
`I also have a question for you : What relationship do you have with AP and how well do you know him ?`

THAT , Angus , is also exactly the same conclusion that I have drawn from this fiasco .
With the appointment of Mr Fletcher I felt that we would first of all have a chance of survival , and second , the likely-hood of taking this Company private had receded .
I`m not so sure . I`m reserving judgement on that one until :
Firstly , I see a serious commitment from one of the 2 or 3 entities who were (apparently) just queuing up for an off-take agreement .
Secondly , I read some definitive contractual agreement with the Zim Government Authorities .
Thirdly , I can see a detailed strategy and financial plan (post all this current dilution) for the future .
Not too much to ask Mr Prelea ?

Normally Company meetings are poorly attended and even Directors facing serious criticism are rarely subjected to serious scrutiny at these events . Unfortunately I will not be able to attend the GM , I`m based in the USA .
Perhaps you might ask AP to post on this thread in response to his critics ?
I doubt neither you , nor he will !
I also have a question for you : What relationship do you have with AP and how well do you know him ?

S S : What an outrageous , arrogant , self important note which conveniently ignores the deception and lies used on so many occasions to lure and maintain private investment . The reason , now clear ; no conventional lending house would support him despite his personal c.10% stakes in BP / Zagra . He needed private investment to get the Company started , or put another way : to develop his personal interests in the Company .
This man is no scapegoat , he was the CEO , he IS responsible and as a result of his behaviour , his decisions the Company is on its knees . On who else should we `heap blame` for the disastrous outcome here ?
Criticism is usually most accurate after the event , when the historical facts become apparent and blame can be rightly
apportioned .
Of course strategies change , but this change has been forced upon VAST . Fundamentally people don`t change and now that we have a good understanding of Mr Prelea`s character , it should be clear to all investors here that he is not the right man to take this Company forward .
AP`s days of ` nudge-nudge-wink-wink ` are finished and I look forward to the day when his tenure as CEO is also finished .
By the way , I wouldn`t be quite so smart about your investing prowess there is a very long road ahead and still many of AP`s dreams and wishes need to escape from `Never Never Land` .

AJamesW :... Great commentary ! Thanks .

WAussie : What a great life down under , you`re always camping , Bar-B-ing , and drinking !!

But , watch out for the sharks , the snakes , the dingos and the spiders ~~~ even when the market is closed ;))

gkb47:
An accurate and very concise summary , I bought in for similar reasons and will hold what remains for the same reasons .
It`s a disaster that I have all but written off . My `HOPE`, is that Mr Fletcher will eventually prove to be the Captain who saves the ship , because the current Captain and his first mate are capable of drowning in a paddling pool even thought they`re wearing water-wings .

SS ;
Thank you for bringing this to my attention , I see that i made a very big mistake in the wording of this comment :
~"Ironically , now is possibly the right time to invest here or take a chance to average down , however the negative issues surrounding AP are likely to remain ."~
I withdraw that comment and will reword it as follows :
~ `Ironically , now is possibly the right time to invest here IF you`ve never been here before , have money to burn and love to gamble . Take these issues into account if you dare to average down . Absolutely NO advice intended .`~

Now , as to the comment : " however the negative issues surrounding AP are likely to remain " , and the question about who is responsible for making this a good time to invest I think as you say , we will all agree that person must be AP .
In the space of some six months , his stupidity , greed and incompetence has brought this Company to its knees ; c. 0.70 down to c, 0.15 .
So , is 0.15 the right time to invest here ? Read above . Never forget that there are up to 15 points below 0.15
I suppose you are right , it was the Fairy Godmother , you know , the one who lives in La La Land , and tells Fairy tales .
(Better understood in the real world as absolute downright lies )
Perhaps it`s safer to believe in Fairies than in AP .

Hello Reaper )
I was thinking ~~~ that IF this goes belly up ~~~ IF you end up losing your shirt ~~~ IF you career then goes up in flames ~~~
Then you will almost certainly find that The Times will be beating a path to your door to sign you up to create their daily Cryptic Crossword !
~~~
Of course none of of these events will occur , and I hope your investment , and that of others , will ultimately prove to have been well worth the at times frustrating commitment to 88e .
Regards V111JAS .

Posts seem to be the primary focus today after that RNS :(
Perhaps it wasn`t clear to people that the quarterly is a regulatory requirement and therefore the majority of the content was just an historical summary .
Perhaps people were just anticipating a boring long weekend , four days without any news !
Perhaps next week , I feel we must be very , very close to news on this FO .
GL .

~~~"Geez the doom and gloom here is startling"~~~
Perhaps we are just past the point of doom , but it`s hardly difficult to understand the gloom , who enjoys seeing their capital disappear ?
Just check out the share price over the last five years .
Tell me , is there a single `bought and held` investor in VAST showing a profit ?
Perhaps there are a few who have successfully traded the hell out of Vast , I suspect there are a few .
You know the type ; those who call Companies a `No Brainer` and are selling while trying to persuade others to buy .
So step forward anyone in profit from their investment here .
Ironically , now is possibly the right time to invest here or take a chance to average down , however the negative issues surrounding AP are likely to remain .

~~~ "this BB seems to be so negative"~~~
Surely you can`t be surprised at that . Surely you can see the reasons why .
On the positive side :
We have `survived` , we still have a chance to move forward , we retain unquestionably valuable resources , we have a new finance Director , we may have a valued major long term investor , we may have positive support from Zimbabwe , we surely have support from the Romanian Government , and we have a few quid to play with short term .
Please Castaway , and others , let`s not kid ourselves ; there is a mountain to climb here . Only successful exploitation of Vast`s assets will grow the Mkt Cap and the sp is inexorably linked to that Mkt Cap . You can only buy or sell shares !
Imv , this is not going to be a quick recovery it will surely all take time . My concerns are many , I wont list them but I remain seriously concerned about AP`s abilities , judgement and integrity .
We are very finely balanced .
There is absolutely no room whatsoever for ANY more mistakes .
Imo .

Picardy I agree !
Next week ~ perhaps . I think disappointments over the last couple of years have had quite a serious impact on investor enthusiasm for the Company . I am a little disappointed that the current sp is not higher and I`m also somewhat resigned to the fact that the FO may trigger a smaller than hoped for spike which may then be sold into . These markets appear to have become super-cynical and are demanding of production and income as much as resource value . Perhaps it`s because I have a small interest in BLOE which I really thought should have been more enthusiastically bought up , perhaps it will be in time .
I suppose it all depends on the terms of the FO , the identity of our partner and their plans for the future .
I remain very confident of the FO agreement . Hopefully I`m just being overly cautious about its immediate impact on the sp .
GL .

I`m afraid I just can`t see this going anywhere for quite some time , even with the expected immediate positive news .
BP has to be producing , and ZIM lights must be on green with diamonds being sold . How long is that going to take ?
8 BILLION shares in issue ~ gulp ~ extraordinary management AP .
Consolation that at least we have survived .

Thanks for the feed back Jiff .

"He also made clear that 88e was high risk, high reward, noting the multiple raisings that had been made over recent years."

The multiple fund raises over the last four or five years is surely as much the reason for the sp to be below .01p as anything else . However , without those funds there would have been very little , if any , exploration and probably insignificant acquisition of the huge acreage that 88e now holds . If the Alaska Government would cough up the rebates owed to the Company I think it would effectively be debt free !
`High risk` , perhaps , but in this case I like it !
GL .

11.10 ~~~ Great post Major !
Totally agree .

Bat ~~~ I understand your anger at the mismanagement and cowboy antics over at VAST.
This is 88E .

~~~ Another couple of weeks ?

We are not there YET ~~~ But ~~~
"Farm-out process at an advanced stage: preferred bidder selected, indicative terms
agreed => final due diligence and approvals underway prior to documentation and
execution"

I thought he would say something ~~~ Very encouraging !
GL.