Vast Resources Share Discussion Threads

[iceagefarmer] 24/7/2024 09:34

oh yes there is

[purchaseatthetop] 24/7/2024 09:30

No you didn’t. No spreadbets available. Idiot.

[iceagefarmer] 24/7/2024 09:26

just topped up spread bets

[leewink1] 24/7/2024 09:23

Oh jeez it's Zxie now, now you know desperation in ramp really has gone to a new all time low.

[teaboy100] 24/7/2024 09:05

SoAll are dog = winnersExcept holders = massively underwater losers.

[terminator101] 24/7/2024 08:38

Any fantasy diamond news from anyone's fantasy mates?

[gold finger 1] 24/7/2024 08:31

All of us are dog, apart from the few who are holders.

[zxie] 24/7/2024 07:35

Good morning

[astute person] 24/7/2024 07:14

I'm BionicDog!

[sutton erection] 23/7/2024 20:12

I'm bionicdog.

[harps01] 23/7/2024 16:32

They size of the drills had to be smaller than first purchased due to size of tunnels. It's still a lot better than drilling with jack hammer etc. This is only a small mine and I think they were looking to originally mine just over 120,000 tons a year. Take into consideration reserves in place it should have been viable but management have had a shocker in getting mining operations going again and being sustained.

Issue now is the reserves in place going forward and does the BoD have any creditability in attracting new finance. To date they have been found wanting and RNS from Alpha just shows the dire position they are in, 'The Notice given is to the effect that if the outstanding debt of $5,820,000 (the “Debt”) is not repaid in full by 26 September 2024 it will then enforce the security given to Alpha by a third party which party would in turn have recourse to Vast....The Notice also declares that the Debt be immediately due and payable by Vast and is thereby demanded.'

Last time the operations were so insufficient that money was borrowed against third party asset. There has been some improvement but still no free cash flow and official reserves have also decreased.

It's going to be interesting to see how this plays out.

[teaboy100] 23/7/2024 16:16

SoGF 'Wibble'.

[shortsqueezer] 23/7/2024 15:44

True but have you seen the size of those mantis drills? Puny !

[purchaseatthetop] 23/7/2024 15:40

“The Company remains confident that it will be able to repay Alpha in full by 26 September 2024 out of the expected restructuring finance as referred to in the Company’s announcement of 29 April 2024 when this can be implemented.”

29/4/24 RNS
At the same time the Company is also pleased to announce that discussions with the owner of the Swiss investment company (also the owner of the PGM metals subject to the Platinum Group Metals agreement and referred to above and in the Company’s Circular of 14 February 2024) for the provision of major restructuring finance for the Company, including payment of the amounts due to Alpha as set out above, have now reached an advanced stage; subject to the provider finalising their own financing arrangements, and in relation to this the Company can announce that these discussions are no longer conditional on completion of the first sale under the Platinum Group Metals agreement as stated in the Company’s Circular announced on 14 February 2024. Should the Company not be able to conclude this refinancing it will need to source alternative funding to be able to meet its obligations to Alpha including the payment due on the 7 May 2024 or otherwise agree revised payment terms.

22/1/24 RNS
22 January 2024

Vast Resources plc(‘Vast̵7; or the ‘Company’;)

Platinum Group Metals (PGM) Agreement

Vast Resources plc, the AIM-listed mining company, is pleased to announce that it has executed a three-year marketing agreement with a Swiss investment company for the exclusive distribution of high grade PGM concentrates produced within the EU. Vast will receive a 2.5% commission based on the sales value of the concentrates distributed under this agreement. This agreement complements the Company’s existing metal trading activities and is expected to provide a significant additional revenue stream for Vast alongside its operations at the Baita Plai Mine in Romania, and its recently expanded interests in Tajikistan.

So, this three year marketing agreement has been going for six months and no RNS of any actual sales. Really unexpected*



*not really.

[gold finger 1] 23/7/2024 15:37

we are all dog. lol

[harps01] 23/7/2024 15:21

Yes there has been an increase in costs but these are more than covered by subsequent increase in copper price. The issue is that they have never managed to mine the tons required and costs have run out of their control (compared to what they should have been). They should have been generating free cash flow 12-18 months ago when the Mantis drills were operational. A real pity for investors who were misled in my opinion.

[dodge_city] 23/7/2024 14:52

Best to freeze operations on BP like they have done on Manaila.

[purchaseatthetop] 23/7/2024 14:50

Yes, and mining at a 60% gross margin loss means they only have to reduce costs by 60% to make a profit. Simples.

[harps01] 23/7/2024 14:46

Some actual debate on BP! With latest court order and restructure it's obvious to most that BP is currently not viable in its current form. Costs had to be reduced and the company had noted this in RNS, 14th February, 'The Company has also successfully implemented a Baita Plai cost reduction programme.' This had to be accelerated following employee issues as noted in RNS, 10th June..'Baita Plai mine, into a period of voluntary reorganisation'

BP has been a problematic mine in respect to production. The expectation was to mine 10,0000 tonnes a month. Yes production has been increasing but still 15% below this original level which was supposed to be achieved years ago. Actually increased plant and can now put through a lot more but just not getting the mined tons.

[dodge_city] 23/7/2024 14:15

Hey, where are those Q2 production numbers, was there any production in Q2.

[teaboy100] 23/7/2024 13:22

#in administration#

[teaboy100] 23/7/2024 13:22

BP is effectively on administration. There is no way it is anywhere near breakeven, yet alone profit. GF showing yet again how incompetent he really is.

[zen12] 23/7/2024 12:33

Bottom not sure at the moment, we just need this to stop fallling first!

[kemche] 23/7/2024 12:31

ss - filtered!

[shortsqueezer] 23/7/2024 12:18

Hilarious!