Vast Resources Share Discussion Threads

[bernieboy] 25/7/2016 08:28

Wezzo the warrants are.priced at 0.5p to be exercised anytime until 2019. If you the think the share price will be higher than 0.5 before 2019 (as it bloody well should be), then it seems a good deal to me. I haven't looked at it in detail yet though so maybe I have misunderstood it!

[wezzo] 22/7/2016 11:30

thinking ahead .if no one signed up for this ,would management be obliged to under write this at great discount to share price now .knowing in future what was to come .i.e good results ,would this not be insider dealing made legal.if way off the mark.would like to be put right.

[wezzo] 22/7/2016 11:04

invested 8k now worth 2k under corp action can buy more at 0.28 when i can buy at 0 .26 now .also can apply for extra 12,000,000 which will cost me 35,000 pounds at 0.005.so do they expect price to fall to this.can some one please explain current position. thanks

[yorgi] 20/7/2016 22:33

I don't know Bernie but as things stand unlikely I would have thought but I haven't decided yet.

However what is important is that we all vote for the resolutions to ensure the company has the headroom for any further fundraising. I shall log on now and do it now.

EDIT

Vote completed.

[bernieboy] 20/7/2016 21:25

Yorgi are you gonna buy your allowance at 0.285? Getting any extra for the warrants? 3 years to get above 0.5p basically.....

[yorgi] 15/7/2016 12:06

Stop spamming please Apfindley.

[apfindley] 15/7/2016 11:52

Sudden bit of activity here.Take a look at GWMO too for tenbagger potential from £1m market cap.Build a position now, before the crowds arrive

[bernieboy] 14/7/2016 22:26

Another atrocious day for the share price I guess people selling today but still keeping the rights to buy the shares as the record day was 11th July? With the price falling what is the equivalent price if all placing shares are taken up, including the effect of the the warrants?

[bernieboy] 14/7/2016 07:47

Well that's another long RNS from Vast! Had a quick skim but couldn't see the price of the open offer. 0.285 was mentioned for the first 1 million but not sure about the remainder. You were correct about 4.1 million being needed though yorgi.

[bernieboy] 12/7/2016 16:35

Thanks yorgi!

[yorgi] 12/7/2016 15:44

I'm not sure off the top of my head Bernie but I'll see if I can work it out later but with cancelling Crede we will have been clearly short and I think the £'s fall against the $ has not helped us.......I have a figure of around £4m in mind but I'm not sure why I have that figure in mind I will have to have a dig around.

[bernieboy] 12/7/2016 15:16

By the way yorgi. We just raised about 800k. What is the final figure that we need to raise to get everything into place as expected? Thanks Bernie

[bernieboy] 12/7/2016 15:13

Very true yorgi very true! Aim SPs rarely do what you expect of them!

[yorgi] 12/7/2016 12:02

I'm also surprised we are down here as well BernieBoy in light of seeing the back of Crede. I would have thought the funding is the prime reason for being this low but the delay in the licence I'm sure is also a factor. With confirmation of finance and the licence in the bag then I would expect to see the the share price at multiples of the present share price

What we both know full well Bernie from our years of AIM experience SP's can be so unpredictable.

[bernieboy] 12/7/2016 11:52

Thanks for the info yorgi. A bit surprised to see us down at the 0.26 levels again tbh. Is it due to uncertainty regarding the rest of the funding requirements do you think. Or just a delay in the market waking up to the potential? Maybe too many have been too badly burnt here and it's once bitten twice shy? Certainly in the future I expect us to be at multiples of today's price again. Just a bit surprised we aren't already higher.....

[yorgi] 12/7/2016 09:51

Both interesting and informative article on how big the ambitions of VAST are in Romania.

[yorgi] 12/7/2016 08:57

hxxp://www.business-review.eu/news/andrew-prelea-vast-resources-we-plan-to-invest-in-other-mines-from-romania-109634?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+business-review%2FKGAF+%28Business+Review%29

Home » News » Andrew Prelea (Vast Resources): We plan to invest in other mines from Romania
Andrew Prelea (Vast Resources): We plan to invest in other mines from Romania
By Country Investment Reviews June 17, 2016 17:50 0 comments BR Exclusive
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Andrew Prelea, the president & executive director of Vast Resources has told BR in an exclusive interview that the company is planning to invest in other mines from Romania, because he believes that there are vast opportunities here in this sector.

Georgiana Bendre

Do you bring only your own the capital for investment or did you obtain also capital investments from other parts, such as EU funds?

To date Vast has invested over USD 7mil in Romania through its Romanian subsidiary from its own capital.

In respect to obtaining funds from other parties, we are currently in the process of applying for EU funds for specific research projects with Universities, to assist in the mining sector with a view to commercializing Romanian technology in the field.

Do you have any future investment plans in Romania? Are you looking to buy other mines?

Yes, I can say that Vast Resources has big plans for Romania. We are currently investing in upgrades at the processing plant in Iacobeni for the mine at Manaila and are commencing the prospecting drilling programs in Quarter three to extend the mine perimeter. There is an intensive investment program for the mine planned for 2017 once we have completed the prospecting and verification drilling works with a view to extend the life of the mine.

At Baita we are currently focusing on making the mine safe and upgrading the safety aspects of the mine, as well as maintaining the underground works.

We are also looking at other mining investment opportunities as we have a long term approach to Romania and believe that there are vast opportunities here in the sector.

Which was the revenue last year brought by the investments in Romania?

Last year was the startup year of production, upon taking possession of Manaila in July, we spent 3 months fixing the open pit and repairing the production facility. As a result, we commenced working on production in October for November and December deliveries and the revenues for this period were approximately USD 545,000.

How many employees do you have at the moment in Romania?

At the head office in Bucharest, Manaila and Baita we have over 220 employees and once we receive the association on the license in Baita the numbers will immediately grow to 300. However, once we reach full production in 2017, the number of employees will further increase by 100-150 people.

How does Romania position compared with other countries where you activate in terms of resources and profitability?

Every country has different issues to deal with, culturally and, of course, in resource. In Zimbabwe our gold mine is working very well and producing regular income with good profits. The mining sector there, despite the countries difficulties, had a continuing mining culture, so it was easier to restart the mine and build the production facilities. The difference with Romania is that we are working with polymetallic ore that requires a different skill sets and processing methods and we have had a pause of over 10 years in the sector, so we need to work harder to restart the processes.

The resources themselves are plentiful in both countries and have massive potential. Each jurisdiction has its benefits and difficulties and has opportunities to make respectable profits.

What do you think about the local legal framework in the mining sector?

At the moment this is the greatest hurdle in investment in this sector and needs to be reevaluated if Romania is to attract large investment in mining.

The mining sector in Romania has huge potential to attract foreign investment and although the mining sector is a high risk industry as far as resource and recovery of the production, these are calculated risks that mining companies are willing to take, but legal risks and delays are something that should be able to be controlled.

What other minerals do you extract apart from ore?

In Manaila, as it is a polymetallic mine, we extract predominantly copper but the ore body has other metals contained. We are currently recovering in our concentrates mostly Copper, Zinc, and Lead. Gold and silver are present too, but in minor quantities.

Once we finalize the Zinc and Lead floatation lines this month, we will be selling a separate zinc concentrate.

Where do you sell the extractions from Romania?

Unfortunately once the mining activities stopped in 2006/2007, all of the peripheral activities closed as well, so we do not have smelting facilities left in Romania to add value to the resources. Therefore, we are currently exporting to Holland.

In time, as the industry grows, there will be opportunities to open smelting facilities back here as well so and we will be able to sell on the local market again.

[thisidentifiesme] 07/7/2016 16:00

Rumours are Escrow payment transferred, news due over next few sessions on licence.
Good luck all.

[miahkaysor] 06/7/2016 14:25

what is the current NAV?

[thisidentifiesme] 06/7/2016 10:17

Castaway 4,164 posts
Valuation from last April by
Brandon Hill our new broker but wasn't when this was issued [...]
They value the company without BP at £31 mil and with production at BP £59 mil - with current shares in issue, that is about 1p without and 2p with BP respectively - we are currently at .3p

[thisidentifiesme] 06/7/2016 10:17

Lee from LSE

Looking good going forward
Well over the last couple of days been lots said on this BB all about speculation what the BOD will do going forward . Well it's all out in the open now , for me it's a big pat on the back for the BOD , they have clearly learnt a serious lesson after the Crede deal . We needed funding for escrow and Darwin ,them monkeys of our back now , hopefully licence will be issued very soon. Some excellent figures from PP and good progress at mianilla should be very very good going forward . To me today is a game changer for vast and us holders our voice over the last few weeks seems to of been heared loud and clear and the BOD seem to be reacting to it in a positive manner gaining finance like today and with comments like " reduce further dilution where ever possible " is a key statement about future funding scenarios. Well I'm much comfier going forward with today's announcement . Onwards and upwards for me and looking to load up more from here . GLA people need to wake up and smell the coffee and realise the potential here .....

[thisidentifiesme] 06/7/2016 10:12

Yup 5% up already. Ppl need to realise the significance here.

Strong buy

[carla1] 06/7/2016 09:15

She gonna BLOWWWWW

[thisidentifiesme] 06/7/2016 08:39

BP licence secured next. Hold tight or grab stock IMO

[bernieboy] 06/7/2016 08:13

Incedently my first trade at 33000 feet!