Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
I believe he was referring to this one:
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Categories: Date:
Heritage Concession – Marange Diamond Fields: Grant of Right to Mine
Thu, 14th Feb 2019 14:15
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
14 February 2019
Vast Resources plc
(“Vast� or the “Company�)
Heritage Concession – Marange Diamond Fields
Grant of Right to Mine
Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, is pleased to announce that the Chiadzwa Community Development Trust has in principle been granted the right to mine diamonds in joint venture on the Heritage Concession (Block T1A of the Marange Diamond Fields) and has appointed Vast as its joint venture partner in the exploration and mining of diamonds in the area.
The Company
It is going to take a while to reverse the sentiment and a lot of good news.
IMO if we get Finance for Baita to keep going and sorted out Mercuria T1 we should see some investors coming back. Baita with Finance will remove uncertainty and VAST should be able to define a Timeline to production and hopefully stick to it. VAST sticking to a Timeline :-) well more or less.
Gemstar. I take anything said by AP with a pinch of salt.
In the next article the mines minister hints that there are new agreements to be done by mid May with the another 2 companies to be involved in diamons, no mention directly of VAST though.
http://www.zbc.co.zw/two-investors-eye-zim-diamond-sector/
I suppose that for a lot of shareholders or people keeping an eye on the company there is not much that they can say.
IF they deliver the expected RNSs and the SP recovery I believe that will change the mood and the point of view that people holds of VAST, and AP.
Sandy yes you are right, but we were told that the BoD decided to take the risk because they were sure that Mercuria T2 will come and Bergen will be paid. Bergen was a bridge loan as stated in the RNS, not totally independent.
In case of not getting T2 there was the famous APs plan B, C, etc.
Sandy I believe that Mercuria will at least have to respect T1 contractual 4 years to get their money back, but any involvement beyond that it will come as a big surprise, at least for me. Failing to deliver T2 is why we went with Bergen and basically put us in the position that we are now.
I suppose we will know more in the near future.
Mercuria back will be a big surprise, I read something similar before but I thought that was a crazy idea.
I thought that they had an internal problem that refrain them to give us Tranche 2, which in the end caused havoc to VAST.
Was the internal issue related to SSGI relation with VAST? :-)))
Could be Mercuria the cornerstone investor?
See what you have done Tom, not going to sleep tonight.
I am not the one that will defend AP but probably his biggest mistake has been to speak like things were under control even though were not dependent on VAST: Baita licence, Mercuria T2, etc. Add His timelines + Bergen and you got a CEO putting himself in an awkward position. I believe that he has been more naive than dishonest: like when he was saying “No more dilution”, one thing is sure AP/VAST credibility now is zero.
IMO there has been a slowly but steady turn in this company and this is where I want to focus. Finance has been the main problem not the assets, the company now has acknowledged this and is changing its strategy to fix it.
I think that Baita alone should take the SP back to 0.6p, probably not till production starts but there a few more things that can push the SP higher.
I am losing plenty like the majority here, still I believe that VAST has huge potential for growth not because AP says so but because the assets that VAST holds. I have no doubt that Zagra will get the attention of a big one at some point, Baita could be this year in production, Marange ... well lets wait for confirmation.
From RNS:
Resolution 2 is, subject to the passing of Resolution 1, to change the Accounting Reference Date of the Company to 30 April so that the next financial statements of the Company will be made up to 30 April 2019
Does this implies that they are expecting sign SSGI deal before end of month so they can update the books?
We all agree that VAST from the point of view of the sp is A LOT lower since AP took over, like Fantasy will say “Is a fact” I don’t blame everything on AP but Bergen, the policy of get as many assets as he could and the dilution has not paid off for investors.
IMO the Refocus of the company in reshaping the Finance, focusing on “near term” producing assets like Baita, hopefully getting the diamonds ... well I am happy to hold and I have been topping up for a while to lower my average.
Nothing is sure but if VAST achieve to get finance for Baita should provide the company with a good cash flow, starting mining diamonds will be a complete different game changer and VAST is in Zimbabwe news all the time so is not AP BS, it is now a very real possibility. One project Mining Diamonds could easily open the door for more licences, as stated by James Campbell they have a few projects in mind.
Time will tell, GLA
FTB I found your post bending the truth to suit your own view and believe me I am not a big fan of AP, but this is so inaccurate....
“ Vast plowed $30m into an asset with a 20 year life and sold it for less than $3.5m, despite the asset generating $8m gross profit last year. ”
I believe that you have been here long enough to get this numbers right and to know that the history with SSGI goes way before AP.
Could it be just is part of the placings done by SVS? If it was just to one person maybe we will get a TR1 update.
At 8:00 there is a delayed sell of 37037037 shares which is the number of shares subscribed by RT and AP as stated in the RNS.
They have done this the worst possible way for shareholders, for the majority of shareholders.
After yesterday RNS they could have waited a few days to let the SP go up before placing.
Or the another way around, they could have done the placing and immediately later release the RNS with the corporate update.
I don't understand why it needs to be at a discount, it is NOT AIM mandatory.
Don't expect any news in one month at least.
23rd GM All passes
Signature with SSGI could be another 2 weeks after GM, being optimistic, probably one month.
All the another ones, that if you believe AP, are cueing to fund VAST will wait for SSGI to be done, and later you can add whatever the lawyers want. VAST is a long term investment :-))