Vast Resources Share Discussion Threads

[kemche] 16/2/2024 15:03

GF1, Did the company have "distributable reserves"?

[gold finger 1] 16/2/2024 14:50

kemche

I cant remember now, but not long ago a company sold a asset and paid it out to holders. I could be wrong.

[gold finger 1] 16/2/2024 14:44

the_preacher16 Feb '24 - 13:33

"Subject to the completion of the first sale under the Platinum Group Metals Agreement the owner of the Swiss investment Company owning the high grade PGM concentrate has indicated a firm interest in providing major restructuring finance to the Company, partly through debt and partly through equity to be issued at a higher price than the current share price"

This is yet another little gem that was in that RNS.
I expect news of this
This was said in the RNS when the news broke.

As part of this arrangement, and on behalf of the Swiss investment company, Vast has received an offer from the Nikash Group to purchase PGM concentrate containing on average 15% platinum plus other payable materials and which is being marketed as a platinum concentrate. Under the offer, Vast will arrange the sale and delivery of, on average, two tonnes of high-grade platinum concentrate per month over a period of up to one year. Independent assays have been performed by the seller corroborating the grade of the platinum concentrate at 15% and execution of the final sales contract with the Nikash Group will be dependent, amongst other matters, on the buyer concluding its internal assays and inspection of the product. The estimated sales value, based on seller assays, is expected to exceed $100 million.

So 2.5% a year for vast, comes to $2.5m a year. vast have a three year contract at this time. So $7.5m over the 3 years. could pay off any finance and interest they would have to pay. So paying of any debt vast take from them. SO if they took $6m debt from them, at 20% would be still only give a total of $7,200,000.

· Good progress is being made on independent assays of the platinum concentrate for the benefit of the buyer pursuant to the Platinum Group Metals Agreement announced on 22 January 2024 with a Swiss investment company, which if the results are confirmed as expected, could result in a first sale by the end of the month thus immediately generating revenue from the arrangement.


· Subject to the completion of the first sale under the Platinum Group Metals Agreement the owner of the Swiss investment Company owning the high grade PGM concentrate has indicated a firm interest in providing major restructuring finance to the Company, partly through debt and partly through equity to be issued at a higher price than the current share price.

I see a very bright future

[kemche] 16/2/2024 14:31

GF1, A special dividend too can only be paid if there are distributable reserves on the balance sheet. Look for the line Retained deficit where we have cumulative losses of some $144,547,000. Accounting standards and the Companies Act are quite clear on the matter (unless they have changed in the last couple of weeks):

"The Companies Act 2006 requires that a dividend may only be paid out of distributable profits and the common law ‘capital maintenance rule’ means that a company cannot lawfully make a distribution out of capital. For a public company an additional test is applied which is that its net assets must not be less than its capital reserves."

Whilst I am all for looking at the bullish case here what we cannot afford to do is arm the trolls with facts that they can bash us with.

I hope that puts all talk of dividends to bed. We have other things to worry about rather than regurgitating the same thing.

[bionicdog] 16/2/2024 13:58

Strong earnings? Dear oh dear.

[bionicdog] 16/2/2024 13:45

Simon is faking e mails again on LSE.

[bionicdog] 16/2/2024 13:36

Oh dear.

the other thread is for trolls - Post 21505 VAST Vast Resources Plc the_preacher 08 Feb 2024 11:12 3 1
the_preacher
This will now move up as the overhang from the placing clears and there is more positive news.

the other thread is for trolls - Post 20927 VAST Vast Resources Plc the_preacher 31 Jan 2024 14:53 1 1
the_preacher
It could be almost time to go all in here.

the other thread is for trolls - Post 20924 VAST Vast Resources Plc the_preacher 31 Jan 2024 14:51 2 1
the_preacher
Andrew has done an amazing job in very difficult circumstance, sure it has taken longer than expected, but if you look at the accounts carefully you

the other thread is for trolls - Post 20546 VAST Vast Resources Plc the_preacher 26 Jan 2024 19:55 6 2
the_preacher
Big news is coming very soon. This could easily be 1p in the next couple of months.

the other thread is for trolls - Post 17182 VAST Vast Resources Plc the_preacher 01 Dec 2023 10:46 6 1
the_preacher
Lots of panic selling here. There will be an operational update with good news next week.

the other thread is for trolls - Post 15156 VAST Vast Resources Plc the_preacher 03 Nov 2023 12:51 2 1
the_preacher
Zim news hxxps://www.herald.co.zw/vast-to-auction-diamonds-held-by-rbz/

the other thread is for trolls - Post 15085 VAST Vast Resources Plc the_preacher 02 Nov 2023 11:57 4 1
the_preacher
500 tonnes inventory, cash from placing and diamonds pending. This is going up.

the other thread is for trolls - Post 14246 VAST Vast Resources Plc the_preacher 17 Oct 2023 09:13 3 1
the_preacher
It's pretty obvious that they have been holding back good news which is likely to be released any time now.

the other thread is for trolls - Post 10297 VAST Vast Resources Plc the_preacher 07 Aug 2023 21:26 2
the_preacher
I would guess that new deadline would allow for the recovery of the diamonds AND their subsequent sale.

[the_preacher] 16/2/2024 13:33

"Subject to the completion of the first sale under the Platinum Group Metals Agreement the owner of the Swiss investment Company owning the high grade PGM concentrate has indicated a firm interest in providing major restructuring finance to the Company, partly through debt and partly through equity to be issued at a higher price than the current share price"


Are you guys blind, if there is a placing it will be higher than the current price. The price was 0.10 when they issued that statement.

Free money here.

[bionicdog] 16/2/2024 13:02

Is it just me or is Simon less enthusiastic this week?

[highrisk1] 16/2/2024 12:38

Anyone seen the diamond bag yet?.

[bionicdog] 16/2/2024 12:02

Do you think that people on here are gullible idiots?

[riskyinvestor] 16/2/2024 11:42

Multibag opportunity is Tower Resources (TRP)

[gold finger 1] 16/2/2024 10:41

kemche

I never open or allow anyone access to my info who i dont know.
We have more than enough nutters on these threads as it is.

[kemche] 16/2/2024 10:21

Onlymee - take that down this instance!

[kemche] 16/2/2024 10:18

Why are they even posting here??? We are not going to go away.

Once the first deal with Nikash is announced then they will all disappear sharpish anyway. And remember that if you buy before the consolidation you will be able to get six times as many - including the deferred shares. The deferred shares will not be available after that date.

[officerdigby] 16/2/2024 10:09

Poor lady. If that.is actually real. She'll be in trouble now...But hey what is one person's career over some banter on a BB.

[gold finger 1] 16/2/2024 08:35

I see dogs protectors out in force this morning. I thought he would want you posting on his thread. You know get the numbers up over there. As its looking pretty perfetice
over there. lol.

[terminator101] 16/2/2024 08:18

In more shock news there's still no sign of those fantasy diamonds. Who would have thunk it huh.

[greenrichard] 16/2/2024 07:45

" INCOMPETENT PERSONS REPORT "Sadly on Thursday 15th February, the company shovel broke,we are in the process of procuring a new one, currently the local hardware shop is closed as the owner is celebrating his wife's birthday, the sooper dooper drilling machines are currently redeployed landscaping APs garden (formerly known as baita plai) A number of our 350 employees have been tasked with combing eBay for a suitable shovel at a good price. Unfortunately this will impact on our 70 mill target, leaving us a tad under 69,995 mill short. The company expects to address this shortfall over the coming months,by buying two shovels Andrew prelea, profit prevention officer for Vast, said, I'm on it! We have got two reconditioned shovels on order, with lead times for delivery of just one month, that will give me enough time to strip out the fixtures and fittings and leg it! So long suckers!!