https://www.theblockcrypto.com/post/47717/two-firms-merge-to-open-100-acre-bitcoin-mining-farm-in-texas-with-a-capacity-of-one-gigawatt
This project will dwarf ARB's 64 megawatt - however it will be a lot more expensive as in Texas so need special cooling systems and won't be up and running till next year, but it also goes to show that there is still huge demand by big players to mine crypto and they wouldn't be investing such large sums if there wasn't great potential. Bitmain are also expanding to 300 M/w so whilst there is competition, it just shows where many respected experts see this market heading in the long run, and that's up.
So that's why it's taken a bit longer "The agreements concerning the Heritage Diamond Concession will now be directly between the Vast and the ZCDC rather than the local community, but the local community will continue to be a beneficial recipient of shared profits, as per the original agreement."
But says they will be mining at Heritage before year end...Boom
There is an even bigger deal that this one just around the corner. Probably Nov, but defo before YE.
Idiot, interesting read, but why the hell are they mining zcash, that's an absolute plumb of a coin to mine. Its likely to be removed from many exchanges in the future as regs come in due to its privacy (regulators see it as helping criminal activity) nature. Far better to mine ETH before it switches to proof of stake (i.e no longer can be mined)
This thread is a must read, it explains that hash ribbons are on a brink of inversion, where many miners start becoming loss making, what often follows is a sharp drop in BTC price as these miners sell their BTC to try and keep the lights on. So for ARB with the latest tech - especially with the orders coming in Dec, and they're cheap mining they will have a real competitive edge. I hope ARB, if this does happen, don't sell all the BTC they mine, it would be wise for them to hoard some (say 10%). As what invariably follows each inversion is a rise in BTC price.
https://twitter.com/ColeGarnerBTC/status/1196607463593635840
“ZCDC want to form partnership with locals in the mining of diamonds and the agreement is expected to be signed by the end of the year. We are close to sign a joint venture to establish a company called Katanga which a joint venture between locals and a British capital listed company Vast Resources,” said De Preto.
He said this is the first time the community will become an active shareholder in the mining of diamonds.
“They will not be just partners but they will also receive profits from the mining activities,” said the acting chief executive officer adding “we are looking forward for the joint venture to be signed soon”.
The diamond deal is not under AP's control, Zim were cleaning out the ZCDC a few weeks ago, cleaning it up, and they do it in their own bloody time. But the likelihood of Zimbabwe reneging on the deal are slim I'd imagine. What is now in AP's control is BP, all the long lead items have now been sourced according to VAST's twitter feed. So hopefully we should be on track to get this wonderful asset into production before YE. Now that's not long to wait. A mine that should be producing £1-1.5m profit a month once in full swing, and after a few months when they start increasing the tonnage milled, and developing those other skarn pipes, this value will likely increase by I'd guess a min. of 50%. BP alone is worth a much higher mcap than VAST currently have. When, not if, Zim pull their finger out the diamond deal will land. From the 2 sources I've read one minster said in Nov, and another said definitely before the end of the year. Its not long to wait from here for your xmas bonus now is it.
Also just to add the largest diamond miner in the world - Jwaneng, Botswana
Produced 11,975,000 carats, worth $2,347 million.
Zimbabwe forecasts eight million carat leap in diamond production by 2023. ZIMBABWE expects to increase diamond production to 11 million carats by 2023. At the moment there are only 3 potential miners to share that load, ok VAST may make a smaller slice of that pie, but if you can't see the potential..Well...
Nickel - yep the geology is such a problem that
"The assessment also revealed that grades of the known modern alluvial placers which drain the Marange diamond fields ranged in grade from 50 to 500 carats per hundred tons (cpht). "
A lot of diamond miners outside of Zim are trying to get 5-10 cpht out. This is a very very rich diamond field.
Last major item sourced for BP...Its coming boys and girls. In production before YE.
https://twitter.com/vast_resources/status/1194898096838336513
Just to draw you're eyes from the allure of diamonds, lets not forget AP said in that podcast that BP should be up and running by EOY. This is what he once described as Alladins cave. There are many galleries still not explored where they expect massive upside to an already impressive resource. 1.8mt of copper-silver-zinc-lead- gold-tungsten-molybdenum ore body at 6% copper equivalent (or 10 g/t gold equivalent). To those not used to miners those are exceptional, and I mean exceptional grades. This alone will create between £10-15m profit p.a without the extra skarn pipes (which there are many) being utilised. That makes us undervalued without the diamonds. With the diamonds, I can't wait to here the full details, but I expect it to produce 2-3x the profits of what BP does once operational. Really exciting times. On that basis you can understand why AP thinks we can be 8-10x higher mcap even on a crap PE (due to risk mainly of operating in Zim) . AP just make sure you deliver it!
And that is just with BP and diamonds, have a look at the resource for Zagra - which vast have mining rights too. It will blow your mind (potentially largest copper mine in Europe) - that is a few years away yet, but VAST has a lot more strings in its bow to come - oh and did I mention they have first dibs to pick up the best of the 50 or so REMIN mines in Romania if they want to too...But that's for the future, the now is BP and diamonds.