Vast Resources Share Discussion Threads

[bookwormrobert] 01/1/2017 15:05

Forgive me, but there's something I just don't understand here. We don't know why the previous Nomad resigned. There could be many reasons for their decision - including some very bad ones. It's far from certain that Vast can find another Nomad; and if it can't then that's pretty much the end for this company. There are no major institutional investors behind this company - 94% of the stock is held by small private investors. Warrants for new shares (issued on terms that are hard to like) keep appearing out of nowhere. So right now it's a brave decision to even hold this stock, let alone to buy it.

I've researched this stock fully, and from a mining perspective the polymetallic deposits in the Carpathians are interesting. But, from a business perspective, no, never, no way.

[jungmana] 01/1/2017 12:28

What's the value for 20,000 Oz /year of gold production at cost of $700/Oz? By June they will be doubling production at PP.That's just 1 out of 5 important mines or projects that VAST owns.Onwards and upwards to 1p short term with nomad appointment.

[turbotrader2] 01/1/2017 12:05

Nomad will come soon enough imho

[james_paul] 01/1/2017 11:38

Fair points... resignation was unexpected IMO... Due diligence on going with the new nomad.SH didn't resign with immediate effect which suggests it was almost mutual ...6 weeks notice is more than reasonable.If no good nomad news this week then nerves will be jangling ..on all fronts.. As usual pi will be last to know . i will be buying on any major dips..like many i suspect.After the recent flood of good news VAST are an exciting AIM stock with a tiny MCAP....don't think any believe suspension is any more than a remote possibility...

[pwhite73] 01/1/2017 10:38

james_paul - "If the feeling amongst city traders and brokers was negative re nomad this would be in free fall..i think nomad news is close,"

I disagree 94% of the shares in this company are owned by private investors. There are no institutions to be selling the stock ahead of suspension and no rumours of suspension would be flying around at this early stage when there is still a whole month to go. Anything can happen.

Recent licensing news and gold production figures have convinced PIs this is a buy. That is where the recent rise and support has come from. For my part I tend to agree but for the fact that no new nomad has been announced yet. That is my only sticking point. It is also interesting to note that none of the board but Roy Tucker 31m (0.70%) owns any shares as of 30/12/2016.

Shows what they all think about the company (or know gulp!!!).

Let's look at what the CEO said again.

"The Company is in advanced discussions with a replacement nominated adviser which it expects to engage on, or before, 31 January 2017.

I am particularly encouraged and discouraged by the word 'advanced'. It does indicate to me they have been holding indepth discussions with another or other nomads prior to the Strand announcement. The fact that none has been appointed before their resignation statement is worrying.

[james_paul] 01/1/2017 09:51

It was enough to pull back from 8% down....

[showme01] 01/1/2017 09:29

Buying into the close suggest the city......what city, Leicester City? It was a few grand lol.

[james_paul] 01/1/2017 07:07

Roy wants a change of nomad. He was in advanced discussions when SH resigned...that's clear from the RNs..he isnt running around begging for a nomad..the buying into close suggests the city believe that news on a new nomad is close. If the feeling amongst city traders and brokers was negative re nomad this would be in free fall..i think nomad news is close,

[ginko3] 01/1/2017 02:32

Tem - First you said it would be 10am on the 30th, then you said after close on the 30th and now you are saying Tuesday or Wednesday . . lets face it you have no more of a clue than the rest of us. The only clue we have is the rns which said that they expect to make an announcement by the end of January.
The problem as I see it is that any nomad they are in discussions with will likely have them over a barrel; they have no negotiating position as thy have to appoint a new one during January and will likely be screwed on the costs - not an ideal position to be in and if anything goes wrong close to the end of January then we'll end up being suspended.

[james_paul] 31/12/2016 20:53

Watch and learn.......omg...anyone can BS lol....

[temmujin] 31/12/2016 19:56

Vast Resources records increased gold production
December 27, 2016 Business
AIM-LISTED mining company Vast Resources has seen gold production at its Pickstone-Peerless Mine, in Zimbabwe, increase 75 percent in the six months ended September 30, to 9 452 oz.

CEO Roy Pitchford last week said that production at the mine consistently surpassed expectations, having reliably exceeded 20 000 t/m of ore. The mine was now running at a steady state.

Gold production at the mine was now close to 20 000 oz/y, at a cash cost of $700/oz.

Further, he noted that construction of a new sulphide plant at Pickstone-Peerless has started, with first sulphide production expected in the third quarter of the new year.

“This represents an important evolution to the story at Pickstone-Peerless and demonstrates our confidence in the long-term potential of this asset,” Pitchford said.



Alongside these operational expansions, the success of Pickstone-Peerless has prompted the reappraisal of development at the nearby Giant Mine, which has a Joint Ore Reserves Committee-compliant inferred resource of 500 000 oz of gold.

Historically, Giant was a significant producer and like Pickstone-Peerless it is believed that a world-class resource could be delineated at this mine, offering further upside to the Zimbabwean operations.

Meanwhile, Vast continues to focus on its operating 1.8-million tonnes Manaila polymetallic mine in Romania, where optimisation work has yielded important results, which has achieved an improved copper concentrate, the delivery of a second revenue stream though a zinc concentrate and a resource, which has been enlarged by about eight times – all of which have transformed the underperforming asset into a cash flow positive mining operation.

Work is now underway to generate a third revenue stream through a gold/silver concentrate. — Mining weekly

[temmujin] 31/12/2016 17:08

watch and learn

[pwhite73] 31/12/2016 16:47

Ok let's wait and see I neither belief or disbelief you. There is no reason why the word should not be out on the grapevine if they have got one. Its not like its real insider information like takeover news.

[jungmana] 31/12/2016 16:36

Is that a guess?

[pwhite73] 31/12/2016 16:23

A nomad has not been appointed. A nomad will be appointed when VAST informs its shareholders. Which hopefully will be 07:00 03/01/2017.

If you know a nomad has been appointed then tell us who it is.

[temmujin] 31/12/2016 16:02

nomad has already been appointed...RNS tuesday or wednesday

[novicetrade68] 31/12/2016 15:57

showme1, interesting post at 6701. I am now purely speculating, but may be Roy was frustrated with Strand because of their lack of cooperation with regards to raising capital for Romania so that Vast had no other choice but to engage with the sharks of Crede and Bracknor. I can't imagine that even with Crede it would have been the companies' first choice to go to.

[novicetrade68] 31/12/2016 15:48

Turbo, I would also like to think so, and let's hope the announcement will be there rather sooner than later.

[turbotrader2] 31/12/2016 14:57

The nomad is a done deal imho

[novicetrade68] 31/12/2016 14:33

Fairlight, I agree with you that Manaila has likely reached a turning point and likewise expect it to perform a lot better next year. I guess that leaves the issue of the Nomad and hope it will be announced rather sooner than later as I do fancy a few more here with the new licenses, but may have to pay a bit more for the shares as I rather wait for the confirmation.

[fairlight] 31/12/2016 13:46

PW - let's see what occurs Tuesday - I am comfortable that there are no other issues with SH other than a breakdown of relationship, if there was it would have to be announced and we know SH aren't doing VAST any favour's in that dept.

[pwhite73] 31/12/2016 10:53

Fairlight - "The best thing will be to get a new NOMAD appointed ASAP"

I cannot stress enough how much I agree with you on this. Once a new nomad is in place shareholders can weather any other storm.

However so far I for one am not 100% convinced they are going to get a new nomad. Shareholders have blocked the issuance of new shares without an EGM. Good for them as it stops unwarranted dilution but very very bad for a nomad who relies on the issuance of new equity and equity related corporate activities for business.

With the rejection of resolutions 7 and 8 I do not see how VAST are going to raise the millions required to fund their businesses over the next twelve months.

I do not believe the rubbish posted about Strand resigning in a huff, throwing their toys out the pram knowing that they were going to be pushed. Although this may have been the story given to some shareholders.

I have no more knowledge or insight than anybody else on this matter but when nomads resign without an immediate replacement shareholders need to be extremely careful.

[fairlight] 31/12/2016 10:16

PWhite I agree with you, but not sure AIM regulations are toughened up though - there seem to be many frauds still going on - I do not think VAST is one of them however.

The best thing will be to get a new NOMAD appointed ASAP, (which I believe will be the case) and leave 2016 behind, after 2 dreadful funding deals and NOMAD resignation we are looking towards a brighter future and a successful and profitable company.

From my experience of communicating with the company and specifically Roy Pitchford, I never got the impression they were out to "fleece" their shareholders, he has always struck me as an honest person who is ambitious to build a decent mining company.

Now the BoD is becoming more London based I believe we can avoid the likes of Bracknor and Crede - they cannot issue shs without an EGM as many have pointed out so we are pretty safe from dilutery surprises.