This should be trading closer to 0.7p, ridiculous with the new ceo taking over and a great first Rns from AP. Supposedly with off-take agreement and licence award coming soon....now is the time to get a strong position.
BoD are helpless to hurry things along but an informed Rns to update us on likelyhood of what is happening....without using THAT all encompassing word...IMMINENT ?
We need news, now?
Glad to have a CEO statement from Andrew Prelea but it is a bit short on specifics and there are plenty of PR phrases. Having heard him speak publically, my initial impression is that he is not a natural CEO.
Looks like scale back on excess applicants will get 33.369%.
Shares back around the 0.57p mark today, well up on last week, when it was just above offer price.
Could come back to the 0.525 offer price .
SVS had the placing exclusively it appears.
They operate the discredited buy in principle way of fund raising taking them , and pumping out to the "mugs" just below market price . on Tuesday 21st and Wed 22nd. ( 57.9p / 58.9p )
Explains why share price held up after placing but has fell by month end.
If the entitlement date for shares @ 52.5p was 22nd SVS would have the rights.... lovely juberly .. lol
Later on Friday 1st Dec buys @ 0.54p ... 3% above offer .
If it falls further before Wed 6th might not bother with it.
Mnangagwa's inauguration speech was very encouraging. Yes, he has a sordid and violent record. But he has alwsys been a pragmatist, and he's smart enough to know that business friendly policies are needed to help dig the Zim economy out of its deep, deep hole.
I missed Monday 20th RNS about this fund raise.
Surprised the posters this week never mentioned it .
Will be offered 1 for 20 @ 0.52p dropped back to 0.61 today not sure why this did not happen Monday.
Today's RNS gives details of OO .
Guess some are selling to raise funds to take part.
No ookyfly, Vast has not sold all its Zimbabwean assets and it is just possible that the change in leadership in Zimbabwe could enable Vast to expand or monetise some of its Zimbabwean assets if the new leadership acts to encourage more foreign investment to come into the country. Vast still has quite a few Zimbabweans in senior management and must surely be in a good position to exploit new mining opportunities if they arise as more local or foreign money becomes available for investment in the industry. However, despite the fact that I have close contact with Zimbabwe, I really don't know what will happen there but I am willing to take a gamble that things will improve. Potentially, Zimbabwe should be more prosperous than South Africa, looking at its resources and workforce. At the moment it appears that Vast's Romanian interests are in the limelight but like alot of junior miners it doesn't really have enough cash (even with the current fundraising) to develop its mines in a timely fashion and things always take so much longer than management expects. No doubt this will continue to be the case, but I am willing to give the company a few years as a number of things seem to be coming together nicely at the moment.
This year has seen the company sell off a 25% interest in the subsidiary holding the Pickstone-Peerless and Giant gold mines in Zimbabwe, and put more cash into its 100%-owned Manaila polymetallic mine in north-eastern Romania.
It is the latter that has got its investors excited as the company tries to leverage its first-mover advantage' in the European country.
The company's Romania story started back in 2012 when African Consolidated Resources (Vast's previous name) completed an exclusive due dilligence exercise on 55 precious metal and polymetallic assets previously run by state-owned company Remin.
Located over a prospective 100km land package, the majority of the mines and projects were shut down in 2006 in preparation for the country joining the European Union - membership of which is granted on the basis of no industry being subsidised.
"Of the 55 mines with 16 mining licences, we ended up looking at nine and, of these nine, five were commercially viable," Vast's president and executive director for Romania, Andrew Prelea (pictured), tells Mining Journal.
This has since led to the company becoming the only non-ferrous miner independent of the state-run mining entity in Romania.
Manaila is producing copper and zinc in concentrate form, and churned out 1,082 tonnes and 118t of the two base metals in the September quarter, with copper production showing a 31% upswing on the previous three-month period.
Vast has worked very hard to get the asset to this position, transforming the operation over the past two years.
"We basically had to rebuild operations using a flotation building originally used for manganese and an openpit which did not benefit from the full planning expected for an openpit" Prelea said.
On top of this, the concentrate the mine was producing required improvements.
Priot to Vast, a Chinese consortium were operating Manaila and producing a single concentrate grading 13-15% Cu and 12% Zn.
The zinc content in the copper concentrate was enough to make most copper smelters baulk and, unsurprisingly the product was heavily penalised.
Through a series of internal and external studies, the company found an appropriate metal balance and now produces two separate concentrates - copper and zinc - that are in a sweetspot for its customers, according to Prelea.
Manaila has an indicated and inferred openpit resource of 2.6 million tonnes at 1% Cu, 0.4% Pb and 0.9% Zn, along with an underground base of 310,000t at 1.7% Cu, 0.4% Pb and 0.5% Zn (indicated and inferred).
The openpit numbers imply Vast only has three years of operating life left here, but it has plenty of expansion opportunities.
Vast has already outlined a 4.45Mt-11.88Mt exploration target with grades up to 2.3% Cu, 0.5% Pb and 1.1% Zn, but recent results from the first 1,000m of a 2,200m drilling programme at the adjacent Carlibaba prospect show potential for adding a second openpit mine to the Manaila complex.
This drilling reported intercepts of 3m at 2.93% Cu, 0.88% Pb, 1.95% Zn, 0.47g/t Au and 93.33g/t Ag, and 5.9m grading 1.97% Cu, 0.3% Pb, 0.71% Zn, 0.62g/t Au and 26.29g/t Ag from shallow depths.
We want to transition from junior into mid tier by leveraging off our current first-mover advantage
The company has also been granted a licence extension enlarging its prospecting area by over 20 times. In addition, the company has been granted two new prospecting licences for the Piciorul Zimbrului and Magura Neagra polymetallic prospects, the latter of which is thought to host porphyry copper-type mineralisation with veins containing gold, silver, molybdenum, lead and zinc.
On top of this, Vast has an underground exploration target at Manaila of 5.92Mt-15.78Mt grading up to 2.6% Cu, 2% Pb and 2.6% Zn.
Now Nice .. whats all this buying on the way down .
Pop over to the ACTA bb .. you will find a Marksman who thinks that's not the way , you should be topping up as it rises :- )
I'm told he has a very high IQ
I think you might have that wrong.. nice to M ... lol.
How long have you been in this , i try to be very honest and transparent , i use the tread to link mt posts .
I hold things for years.
look back on this board and you will see when i first bought.
maybe you have confused my averaging down and topping.
I've noticed from other sites that you are a short term trader ripley and as i'm mostly buy and hold.. so I understand our styles and perspectives are very different. Webber Span and i, on the other hand, might have a lot more in common.
Alltold is the rampant ramper across endless small cap stocks on II BB's... who perhaps does stand up comedy in his spare time... He strong buyed this on this board a while back and off the back of his previous form I took that to mean that the stock would go meaningfully down . he's consistently good, in fairness... as long as you understand to do the opposite of what he recommends
I think some investors forget that company come on the market to get cheap money to build business. These things happen and caught people off guard from time to time, part of the risk I don't think one should buy into a company without knowing what they bought into. Still early days here I think.
I think some investors forget that company come on the market to get cheap money to build business. These things happen and caught people off guard from time to time, part of the risk I don't think one should buy into a company without knowing what you are investing in. Still early days here I think.
Nice to Michu
Who is Altold ?
You were correct about falling further !!
Had a limit to buy yesterday @ 0.55 which failed thank God ....Bought more ( X ) Real time 0.522p should of set limit @ 0.51 as you can get your 0.50 to buy now . ( 0.49 / 0.50 )
Did not see RNS of planned placing until after ( no price mentioned ) looks like an OO along side .
Mood on LSE site now turned bearish.
Good olde alltold .. he big blues and as if by magic - or the upcoming small dilution noted in today's letter - this has come off to .50 ish p so far and I'm in here small now and would add more on any further weakness, if it occurs. Ithi k this has good potential going forward but, as is usually the case with such stocks, a bumpy road no doubt.
Hum I've heard good things about Webber Span - Hub likes it a lot for eg - but PoG and xtr are my gold plays ( and Vast to an extent too now) GMR I don't know but will look into...
I have no real target here, but love the story so far and will see how things progress and continue to buy more for the rest of this year as and when funds become available. if all work out as planned this could be very good in a few years time if not before. This sector can be real profitable when one finds the right company. At the moment I think people are spoil for choice and trying take whatever percentage profit they can get here and there, then move on to other rising shares, so up and down should be expected. I did not keep GWP for long but made a nice profit there. Wish you all the best with your investment. What do you think of GMR & HUM? I am currently invested.
This stock is new to me but after a small amount of research it interests me a fair bit.
As Altold has recently given it the big blue I think it might fall further from here and so if it goes back to .50p ish i'll buy some... (and I would buy more on any further weakness from there.. of course it may not go back to .50p at all and for those long here if it does I hope it would only be a short term thing and that future levels of this s/p are much higher anyway. )
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