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Trade at just gone 5pm, so you might be correct Jimmy2011.
I believe the rushed sale was due to the terms they had with Vast. Once the company went into production and was selling concentrate then the AP group had to contribute to ongoing costs, as they would have been receiving a 20% cut in the sales. It is quite clear now looking back that they knew there were going to be additional costs attached and therefore decided it must have been cheaper to sell the asset to Vast rather than keep their share.
I still believe the asset has worth, however my patience is running extremely thin regarding the running of the company.
We have got a nice blue day today. I suspect it wasn't a sell, but a worked buy from this morning.
Fair enough.
However wish I had been spiked at the .018 rather than my actual avg which I managed to get down considerably when I bought more around .025p -but is well and truly in double figures.
I do think Vast will work out. Unfortunately I bought at the wrong time. So it is a wait and see what happens next for me.
To anyone that did buy this morning, GL - news is due in the coming weeks and I am hopeful that the SP will rise.
Not sure it is irrational excitement. I think it is more likely that some of those early morning buys have now managed to get 10/15% and are happy with their days work.
If you take a look at his previous director appointments on Companies House, it suggests that he is not a 'miner'. He is a businessman. Therefore I doubt he would be looking to takeover a mine in Romania when there are far easier jurisdictions to own a mine.
Appreciate that AP wasn't a miner either - which I feel has been part of the problem as his learning curve is still ongoing. But the age difference would suggest that Mr Dowling is not wanting to relocate or be hands on, imo.
Thank you 1nvest.
I agree if there is an upside, it is the fact that to Atlas we are currently a cash cow. They get paid interest and we still owe the debt. That is what is currently under question. This should be paid by tomorrow.
My thoughts.....Atlas will allow us to continue. Will likely sign us into a a deal that requires us to pay even more Interest over the coming years. Hence why no request for headroom. And why haven't we been told yet? I am making a massive presumption that once the agreement is signed the new interest rate will begin. Hence why we are at the wire.
When Vast pay interest to Atlas in cash rather than shares they have no obligation to RNS it. Therefore they will have been paying the interest, or Atlas could/would have requested full payment sooner.
Think we have enough to worry us about ATM without folks spouting incorrect information.
Post on here infrequently these days. Made a comment this morning on the thread regarding Shaun Dowling and the whole thread has been deleted?
Isn't this supposed to be a discussion board?
Our nominal is .001 - with the AGM looming there will be a request for headroom and due to the np being low they will request a considerable amount.
Therefore I would suggest that at least for the next year they will be able to continue to place (unfortunately) if they need to pay the bills.
On a positive note, BP should improve as the year moves forward - this will mean less likelihood of placings. Especially if they can prove BP as a good, regular income stream as that should help with additional financing.
This though does not take Ghaghoo in account. My gut feeling is Atlas will stump up the cash - that then being the case, it will then be harder for us to obtain other finance elsewhere, until Ghaghoo then also proves itself - imo.
And just to add.... difficult questions are a must.
The AGM is due, if they want to get shareholders on board then they need to be answerable, imo.
FYI Realtimebob the questions were originally sent before the RNS that answered them. The company then chose to keep those in and state they had already been answered.
As a lth of Vast I appreciate all the work you put in.
Thank you.
Regardless of people's opinions on the answers, I am happy to see the company interacting with shareholders and providing information to the market.
Would suggest to those that believe the company wrote them themselves, please contact Andrew Hall and suggest further questions - so that they can be answered before the AGM, to assist all holders in making their decisions.
GL to all
Botswana Diamonds are about to acquire 10% of diamond mine for £0.....could be a good bet ;-)
I think you could be looking at the low pre consolidation.
They moving from a mainly manual operation, with one LHD (Underground loaders) to a mechanised one with 4 LHD's and a large jumbo faced drilling rig. According to Marcus, general manager - this should improve things 10 fold. So the new plan will take this into account.
Please listen to recent podcast, where he speaks about this.
I'm not in it, but I watched Wres recently. They too have a Atlas hangover and the SP I think dropped a bit more than ours into the 8's.
So holding off could be a good idea. As we don't know when the next update will be.
Production is in its infancy - first delivery was Nov 2020.
Vast is in a better position now, than it has been for quite a while.
Sentiment and distrust has driven the SP down - but the company is operating and earning revenue from copper concentrate plus gold and silver credits - in a bull market. So that has made up for the drop in estimated levels.
I've been invested in Vast for years.
Would expect anyone investing to DYOR.
But imo, I think we all know what is like when you start any type of project.
You are enthusiastic, hopeful and looking forward to the end result.
Reality is, along the way - thumbs get hit, stuff is placed incorrectly and it always seems to take longer than you first thought.
BP is no different. It hasn't gone to plan. Teething problems have meant time and resources have been wasted. Does it make the BOD liars, no, it makes them amateurish. However, the mine is producing, it will increase production with the new machinery. The mine, according to our new GM, Marcus has lots of potential.
Therefore I am buying the dip.
Good luck to those that have sold and invested elsewhere. Especially if you have sold at a loss.
As it has be everyone's own decision to hold, sell or buy.
I'm classing it as a weak buy, because at the moment sentiment is driving the price down - therefore it is difficult to judge the 'bottom'.
So sorry to hear you have sold out. I 'left' LSE chat and concentrated on telegram - not enough hours in the day for both - never sold and been here a few years now. But when I first invested, I was posting on here and your contributions over the years have been respected by many.
Good luck with any future investments. I wish you all the best.