Vast Resources Share Discussion Threads

[purchaseatthetop] 19/7/2024 08:26

The diamonds were looted 14 years ago. Never returned to the Reserve Bank of Zimbabwe. No court order will overcome that small issue.

[kingston78] 18/7/2024 23:31

The following news article was published on 6th July 2023 in ZIMNOW:-(Kingston78's comments- I have not seen any further news on the outcome of this event)

AIM-traded mining company Vast Resources said it has engaged the deputy sheriff to retrieve the historic parcel of 129 400 ct of rough from the Reserve Bank of Zimbabwe under a writ of execution issued by the High Court of Zimbabwe on June 14.

The company said the deputy sheriff received new instructions to retrieve the parcel, on June 29 and the company’s legal team accompanied the deputy sheriff to the RBZ premises.

However the company cautioned that there is no set date as to when it expects to take possession of the diamonds.

“The company notes that until the process has been finalised and implemented there is no certainty as to the precise timing for the recovery of the parcel, and will update the market as soon as there is a material development in this respect,” the board said in its statement,” the company said in a statement.

Vast said that the RBZ had sought clarity from the deputy sheriff on the status of the original Supreme Court interlocutory order that placed the parcel in its custody until the resolution of pending appeals.

Vast said its legal representatives provided clarification to the RBZ, asserting that the interlocutory order was no longer in effect as the appeal to which it was subject had been abandoned by the original appellants, rendering it invalid before the Supreme Court.

Vast said during the visit to the RBZ, in consultation with the bank’s internal legal counsel, the deputy sheriff and Vast Resources reached an agreement.

The firm said the RBZ committed to providing written confirmation of the process that would govern the orderly and secure handover of the parcel to the company, which would encompass the procedures for valuation for royalty purposes, obtaining export permits, and adhering to the Kimberly Process Certification requirements.

Following that development, Vast Resources and the RBZ would then proceed to establish the necessary logistics for the removal of the parcel, which was previously attached by the deputy sheriff under the writ of execution.

Vast Resources said it remained committed to a transparent and lawful resolution to the handover process.

The parcel of diamonds has been in custody of the Reserve Bank since 2010 when Vast surrendered the gems as evidence that it had exploited diamonds on claims previously owned by DeBeers.

Vast left Chiadzwa diamond fields in 2006, claiming it had failed to find viable reserves, following a decade of exploration. A dispute with the Government of Zimbabwe over release of the parcel ensued.

Vast started with the legal proceedings for its release o in December 2022.

Vast CEO Andrew Prelea, who flew into the country in May to push on the release of the parcel, in February said the process has taken longer than anticipated.

He added that the amicable settlement allows Vast to focus its attention back on other opportunities in Zimbabwe which include a community diamond concession in the Marange diamond fields and Eureka Gold Mine in Mashonaland Central.

[harps01] 18/7/2024 18:13

Argh got my maths wrong as looking back I actually invested my last lot at the same time in Vast and Rambler, I sold up earlier on Vast but kept my Rambler into administration. People at the time advised I should have kept my Vast shares. Well I would now need the share price to increase by 12500% just to break even if i had kept them! Thankfully invested elsewhere and done ok, not great, but ok is great if you compare to what they would have been worth if kept here.

[harps01] 18/7/2024 17:40

Not really relevant as same old story. 35% down for the week and 44% down for the month. Don't think they can get away with another placement without being creative such as receive one share free for every share at this price.

Don't think I have ever seen a share worse than Vast in past 25 years of investing. Seen companies go into administration etc but even their dodgy BoD pale in comparison to Vasts. I think people used to compare Vast to rambler upto news of financial issues at Rambler to service debts. Well the equivalent price today would be 4000% increase to be breakeven again on Vast. Think those who were invested in Rambler are probably better off considering how many people have subsequently invested more here to average down. Evwn if nothing more invested your likely to be 75% down even with 1000% increase in share price

Worth looking back and learning from past mistakes.

[bionicdog] 18/7/2024 17:12

I wonder if hopeless25 realises that he's inadvertently paid me a massive compliment.

[bionicdog] 18/7/2024 17:06

Who makes fun of me , the people that didn't listen and lost all their money? There are none left on the other two , they have given up. The morons only remain on here.

[bionicdog] 18/7/2024 16:28

What is the first successful AIM company? VAST have only been successful in fleecing their shareholders.

[gold finger 1] 18/7/2024 15:43

I have a great idea for doggy, for when this has come good.
Close your eyes and get a list of other AIM companies. Then stick a pin in that list.
You just might find another successful company you can troll for a few years. Thats if your puppet master will agree, and pay you your going rate of 10p a post.

[hopeful25] 18/7/2024 15:39

Description of you tealeaf??

[teaboy100] 18/7/2024 15:36

SoYou have no idea...correct.You have no interest...yet you post constantly about them.

[gold finger 1] 18/7/2024 15:05

I see dog has replied with two of his other avatars. I have no idea, or interest in what he is posting. Just dance to any tune i play, doggy, dance.

[gold finger 1] 18/7/2024 15:01

With those placing shares going onto the market tomorrow, could be a great day for the MMs to drop all those shares they have already sold, onto the market.

So anyone wanting to sell some, now may be a good time. I dont think you will find they drop the ask anywhere near as much. but i will be keeping a sharp eye out, just incase i get the chance to add more, to my already large collection.

[leewink1] 18/7/2024 15:00

Price of copper means zip when it's in the ground, and even mining it is at loss, and big at that, again that's why they are screaming for money, equipments out of the ark and can't make profit from it, and it's only investors they seek, and you'd jump at a definite loss aye, even the so called big boys laugh, leaving GF to prey toward green PI to earn his money posting drivel all day and night.

[purchaseatthetop] 18/7/2024 14:54

Forfaiter. The price of copper is irrelevant. It costs VAST $3 to get $1 of copper out of the ground. It needs to quintuple to start covering overhead.

[gold finger 1] 18/7/2024 14:45

dog will, in the next 2 months. will be able to evict vast from living rent free in his head as he will soon have nothing to say. Then again he may just hang around like a bad smell. He has a very bad case of vast derangement syndrome.

[forfaiter1] 18/7/2024 14:44

Price of copper is falling.....

[gold finger 1] 18/7/2024 14:30

The only thing the troll owns, is vast ,and that is only because they live in his head rent free.

[hopeful25] 18/7/2024 13:21

Charity money that you stole to fund these properties!!!!!!!!!

[leewink1] 18/7/2024 13:13

Yup they do not have either, agreed, that's why they are screaming for investment, as assets are worthless and creating losses, and they need money in the bank, both seem not even worth considering for investment, plough into something that looses your investment, that would take a special kind of stupid.

[bionicdog] 18/7/2024 12:15

Money in the bank or money making assets would be good. VAST have neither. They have mountains of debt and loss making "assets".

[purchaseatthetop] 18/7/2024 12:06

Bionic. I have to suffer in my house in Gerrards Cross unless I am in my villa in Italy. I yearn for a van.