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If all the placing shares have already been forward sold then what is the significance of 14 June?

Agreed, but AGL were in a similar position and by addressing it early they managed to pull off a placing with a circa 16% discount. I would not expect a placing here to be heavily discounted either.

Key words ‘in the coming weeks’ . A cash raise is not imminent and while unwise to spook the market in the AGM the drop in SP is overdone. Hopefully the placing will be planned well in advance and be similar to AGL. That is, if it is a placing which IMO it probably will be

Thanks Crusty

What will the placing shares amount to as a percentage of the existing share capital?

Totally expected, arrived sooner than I thought, it’s all positive except the horrendous discount. Hey ho, we been here before, except before we had a track record of zero success. January 2024 drill was a success and EWT is the obvious follow-up. If the EWT is a success all will be forgiven as the NAV will be massive. If it’s not…….

If it’s fake news the company doesn’t need to comment unless SP is decimated as a result, but if it is true it needs to issue an RNS by now if not 6 days ago. Thinking it through, even if Swiss investor doesn’t come in, the recent share reorganisation was to allow a huge placing in the event that proved necessary. Gut tells me it’s fake news

The article with link is dated 4 June which is 4 trading days ago!!!

Hopefully

1. Refinancing confirmation shortly - IMO probably

2. Diamonds - IMO probably not, although AP might negotiate a cash payment (substantially discounted) in lieu of the diamonds. It is not a good look for the Zimbabwean Government to simply hand over the diamonds to an ex- colonial lot so a cash alternative might be a more palatable outcome all round

Hopefully not

3. No refinancing and therefore big placing to exit current lender seeking to be repaid - possibly, but we’re in big trouble going forward if this hapoens as it will decimate the SP and any future confidence in the company could be irreparably eroded.

Count to 3 and pray and hope AP delivers.

Better Harry put the RNS this morning rather than last week when the share price was lower.

Who cares whether they hold the shares or not?

Advisors need to be paid and they have accepted an issue of shares at the current price. This is much better than the company having to raise cash through a significantly discounted placing. How else do you expect people to be paid in the meantime?

Does the subscription represent a LTH (ie: is it a strategic investment) or will New Tech merely churn the shares?

OK, £800,00 for 40m shares equates to 2p a share - straightforward. Then the RNS goes on about contingent warrants and quite frankly I’m struggling to understand how this works. Is it (in simple terms) a mechanism for New Tech’s investment to be adjusted below 2p a share - complicated!! I’m probably being a bit thick here

Thank you Kever - fingers crossed this materialises

Yeah he’s doing the same on the ADVFN chat -if he’s invested it baffles me why he would talk the share down.

To be fair the historic parcel belongs to Vast and if the company doesn’t get it, that will be down to a corrupt Government not AP. The mysterious Swiss investor (with whom Vast already has a relationship) won’t be a mystery this time next month. As a LTH I’m as peeved as anyone but it does now seem like we are about to recover and progress. It was an encouraging interview this morning- AP didn’t have to give it and he’s well aware that Sara Lowther wouldn’t be easy on him (I don’t think there’s any love lost between those two LOL).

I think AP explained that in the interview. It is obvious that Vast is worth more than £2m and is significantly undervalued. OK it’s not worth anywhere near £200m but then most mining companies MCap doesn’t equate to NAV- Vast is not alone in that. The regular placings undermine confidence in the share but hopefully when the refinancing is complete and the new investor comes in with a long term commitment that may change. Also, Vast don’t operate in a familiar jurisdiction, being in frontier areas such as Romania and Tajikistan. That doesn’t help make investing in the company an attractive proposition- we fear that which we don’t understand. Note in the interview that AP said debt / equity investment TBC but that equity investment would be at a premium - some have suggested 0.6p but I don’t know where they got that from.

In the intervuew this morning with Sara Lowther AP stated the BAV is £200m. While I’m inclined to take that with a pinch of salt, clearly at a current SP of 0.25p this equates to a market cap of £2m - clearly significantly undervalued. If the refinance successfully concludes then there should be a lot of upside from here, not least (hopefully) because they’ll be less likelihood of future (confidence draining) placements. If the historic parcel fructifies (not holding my breath, but you never know - might involve a negotiated agreement with Zimbabwean Government where we give up some value) this would add a few multiples to the current market cap. However, if refinancing fails then I dread to think what happens next, possibly a massive placing to generate cash to exit a current funder.

Wow PMC2022, 5 postings one after the other - comes across as desperate. I really wouldn’t short this from here.