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AP has said they exist but he is not able to talk about them. It is a sensitive issue for the leaders of a former colony to allow valuable diamonds to its former colonial rulers. Either we will remain in limbo and never take possession of the diamonds and (hopefully) AP will be able to agree a financial sum with the Zimbabwean Government to walk away from the claim - a more palatable outcome to the Zimbabweans. However, it is arriving at an appropriate sun and is likely Vast will have to take a punch to the guts and not get anywhere near their MV. IMO it is unwise to invest in Vast purely based on the expectation of the diamonds value being crystallised and credit to Vasts bank account. That said, I know sweet FA about these matters but take the worse case scenario so that I can never be disappointed

If alternative arrangements are implemented in Q4 Vast will have no need for the financing from the Swiss investor, so I expect the Swiss investor will move more quickly now. I think the RNS will act as a tree shake to spook PIs so that if the Swiss investor comes in there’s more money to be made on the uplift once the financing arrangements are concluded. It’s very risky but potential high reward if this gets sorted.

Thank you for the link Blowdog, no matter what the various comments on this board and the current fluctuations in the SP, when wavering I would recommend that all investors regain perspective by watching and re-watching this Ticker TV interview. We just need to do the time now and wait for the ML licence to be granted and an off taker come in. IMO and DYOR

The RNS states the issue price is 0.005p. A shocker when the placing price was 0.03p and the last close SP was 0.042p. I would hope the RNS is an error and should read 0.05p. The value of the services is £2,000 if the RNS is right and £20,000 if the RNS is wrong. You would expect the company to be able to pay a £2,000 bill out of the placement monies rather than issue shares at a massive discount, so I’m inclined to think the 0.005p figure in the RNS is wrong. Hopefully the company will issue a correction

As expected these interim results are awful but I would have thought that has already been factored into the SP. The next update will be crucial as we will then see if the company has opened up new wells at Pine Mills using the placing money resulting in a significant increase in production. We need to see the Board’s plan come to fruition, the half year results to 30 June are merely backward looking

Just watched the TMS interview - AP very clear that Vast will be around after 26 September and reminded NAV is $200m not £200m. SP is on its a*se not because of fundamentals but because of sentiment (not helped by the multitude of placings we have endured) so once refinanced and (hopefully) placings become far less frequent and damaging, sentiment may change and the SP could rocket. I was surprised to hear from AP that he was once a major shareholder and has £5.5m invested. Having watched the interview I do believe AP is genuine, working hard (he looks knackered) and his interests are aligned with shareholders.

Steward1, I agree the potential here could be massive once the debt funding position is sorted. In the meantine there may be the need for short term funding and usually this would mean a placing. However, the nominal value of the shares is 0.1p and the current SP is 0.1p so a placing is out of the question unless there is another share consolidation first. Hopefully, if the Swiss investor is serious, it would make a relatively modest loan (like a working capital bridging loan to buy AP time but avoid a share conslidation followed by a placing). There is also the possibility that the company could have gone cash flow neutral although given more recent developements re employees at Baita I doubt that. I take a simplistic view in that my investment today (1m shares at 0.1029p) will either go down 100% or will multi bag like no other share has ever mutil bagged before (if it is correct that NAV is anywhere near £200m). That said, I've previously sunk a lot of money in this when investors were excited about the near term fructification of the historic parcel. Realistically I think we can agree these are not likely to materialise and all I ask AP / Vast is to stay well away from Zimbabwe if that is the case. Fantastic risk / reward opprtunity at this level. IMO and DYOR

There should be news on the refinancing shortly as Alpha deadline is a week tomorrow. As noted in the June RNS even if refinancing isn’t concluded by then, the notice has been served by Alpha as a protective measure and that there is no intention to harm the company.

It is confirmed as commercial. Accumulating while SP is sub 1p it would be rude not to! There is an irrational fear of a substantially discounted placing that is suppressing the SP but the company is moving from explorer to developer now and much better placed to raise finance (as needed) on better terms.

Just hope I get my retail offer shares at 4.8p - otherwise it’s 6p to pay. Yikes, glad I’m an existing shareholder and being prioritised over new shareholders. Shaun, I’ll thank you later (hopefully)

2 reasons I think (1) the fear of another substantially discounted placing once they get the mining licence (personally I don’t think there will be a placing, but even if there is I think the discount will be less damaging given the quality of the asset held) and (2) as the ML will take at least 3 months people probably looking at opportunities elsewhere such as, perhaps, GGP, given the breaking news there this week. Could be wrong on both counts though, so this is no more than idle speculation on my part

I don’t know, with such a low MCap, if the contracts come in this could rocket, but shareholder faith is certainly being tested.

CC doing a great job IMO with the things that are within his control. As others have said, it’s now all down to whether / when the vanadium price recovers but CC’s actions allow the company to buy time and stay in the game for longer - not much more he can do than this.

This is AIM and placings are expected from time to time, but with this company it’s their frequency and the substantial discount. Well underwater as I suspect most shareholders are.

MCNol, top marks for common sense.

I think they’ll try to drag SP below 1p to trigger stop losses and then should recover from there. An update from the company / interview from Lorna might help stop the rot, because as I see it, the main worry of shareholders is the prospect of another substantially discounted placing. If we could get some reassurance on next steps and cash position etc that might help

Dai2belts, if we get the ML this should significantly re-rate, so even if you’re right (but I don’t think you are as the placing in June raised £8m) the future placing will be off the back of a much higher SP and as the company will have a valuable asset at that time (having moved on to being a developer rather than purely an explorer) the discount on a placing is likely to be more reasonable and less damaging. IMO and DYOR

If we agree it is a decent RNS then what’s changed that justifies the SP drop? Why didn’t it drop yesterday or the day before, after all we know nothing more today than we did then other than today’s decent RNS.

Extract from the RNS dated 10 June 2024 re fundraise for ITW-1 drilling reads as follows:

Drilling Programme and related timetable

"Following the completion of the proposed Fundraise, the Company will be fully funded to complete the EWT, with a working capital runway for a minimum of 12 months from the date of Admission.

The Company intends to undertake and complete the additional drilling and the EWT at Itumbula West-1 during the course of Q3 2024 and will provide updates with respect to progress in due course."

Yes, there has been a further recent placing but that is for the Colorado acquisition which should give the company earlier revenues and so assist further in terms of cash management.

IMO all this panic today about there being a huge heavily discounted placing on the horizon is absolute nonsense.

If the company is granted a mining licence I would expect future funding to be covered primarily within an off-take agreement. IMO and (as many PIs clearly haven't) DYOR

Blimey,isn’t the deadline for repayment of debt due this month? If we don’t get the funding in from the Swiss I guess we are in for another consolidation and the mother of all placings. This RNS gives me optimism we will be OK, but then again this is VAST