Vast Resources Share Discussion Threads

[footloose2] 23/12/2018 11:05

electric

Have you ever been in a company that have used these type of financing?
I was a good few years ago can't remember which company it was now from memory.
I did not know really how they worked back then.
The market cap of said company was about 2m when i bought in, looked very cheap.
Well the deal with these kind of loans is there is an agreement that over each month they take a % of the money they are owed,and turn them into shares at an average over so many days in that month of the share price, then they get them at say -5%.Well the share price stayed about the same or even lower after 12 months, but the market cap was about 15m. So any value that was in the company was gone.
Lets just say if it does not turned out to be a bridging loan you will not be very happy, i can assure you of that.
I mean do you have any idea what that agreement means. Well it about as clear as mud to me. But i know one thing it's not good.

[footloose2] 23/12/2018 10:35

electric

Why am i saying its over 12 months.

Each of the Convertible Securities will have a term of 12 months.

No conversion rights will attach to either Convertible Security for the first 30 days after the date of its respective issue. Thereafter, the Convertible Securities will (subject to the satisfaction of certain conditions) be convertible into Shares of the Company, in whole or in part, at the option of the Funder. The Company will make an announcement if at any time any Convertible Securities are converted in whole or in part and will specify in such announcement the relevant conversion price, which will be, at the Funder’s election: (a) (as to no more than US$1,500,000 of the Convertible Securities) £0.0059 per share, calculated as 140% of average daily VWAPs during the 20 trading days prior to the execution date of the Agreement and (b) 92% of the average of five daily volume-weighted average prices of the Shares on AIM during a specified period preceding the relevant conversion (the “Second Issue Priceâ€); in each case subject to rounding).

[johncasey] 23/12/2018 08:22

lets face it the zionists dont want you to buy VAST...hence stopping you buy spread bets so in time will be a massive multi bagger...alwayss follow the zionist money..i did with QXL which ended up a 200 bagger

[electrick] 23/12/2018 00:13

Footloose....

Firstly it is $3mm not pounds.. but let’s not argue over 20% or so


“As for saying they are not allowed to short us, well they would not have to. Work out how many shares they would be entitled to for 3m pounds, divide them up of 12 months and bingo you have 70-100m shares a month being added for a year, depending on the price

Let’s not forget only 1 tranche so far so let’s assume £1.2mm
Let’s assume full conversation at 30 day.. not sure why you want to spread over 12 months. Don’t forget the 90 day buyback clause.....

£1.2mm at .0036 ( keep today’s price. Good as any)
Means 333mm shares (6% dilution) okay we will have paid a huge % as a fee but what’s the key concern you have? As you point out share price dependant. At £0.0059 the shares to be issues half..

Anyway ITS A BRIDGING LOAN.....

[electrick] 23/12/2018 00:01

I would love a quick hit to 0.0041 to make my quick turn

Thought we were on the way on Friday.
Route .. your posts are fantasy. Pure and simple.

Personally I don’t believe you have spoken to AP, let alone that he told you a price prediction of £200mm in a year or that being awarded diamonds would add £300mm to the mcap.

Fortunately it is not AP that is delusional it seem. It is you

[routy] 22/12/2018 16:20

I specifically asked him about it and he said it was a short term loan and was confident T2 would come in to pay it off. He said he had to raise cash very quickly for an opportunity and this was the only option in the limited time. He has other debt options to pay the loan off if need be. He said absolutely worst case some shares may be converted at 0.59p. For me anything under that price is a safe entry. As I say it's about trust and I personally think in a less than a few months we'll be heading over 1p.

[footloose2] 22/12/2018 16:03

routy

I have to say he always comes across very confident.
He has done a great job for the whole year in charge imo.
But this kind of finance deal is the worst kind of deal any company could do.
If it turns out to be just a bridging loan fine.
But i read it now as its going to go though.
If it does it will undo any good work he has done up to yet.
It will give a year of misery for any holder, i have seen what this kind of finance will do after seeing what its done to other companies.

[routy] 22/12/2018 15:37

I believe he's got something up his sleeve and needed a short term cash injection - I think his hands are tied for whatever reason. Hopefully he can calm a few nerves the podcast.I for one felt better after speaking to him as he sounded very confident - indeed he wants to buy more at this price but can't but he said he will once he is legally able to. I guess it's about trust.

[routy] 22/12/2018 12:10

I also asked AP if he still expects MCAP would be £250 - £500 million in 12 months and he said he does.If get diamonds (and he's very confident we will) he said that will be worth £300 million to the MCAP...

[footloose2] 22/12/2018 11:52

I see SharePropets have a piece on vast and the death spiral today.
You see The market hates this kind of loan.
Investors hate it.
The media don't like them.
Its nothing but bad news.
It makes no difference that it should be just a Bridging loan,all the agreement terms have to be announced, so in peoples eyes its a death spiral.
Why he has gone down this route is beyond me. It just causes bad press and bad feeling and mistrust as the company did say it would avoid going down this line in the future. There needs to be some good news on a regular time scale over the next month or all that will be talked about is this negative loan. The worst point being even if good news comes it will not have the same effect as it would have with this loan hanging over our head.
Even if this loan turns out to be a bridging loan by then the damage has been done to the share price and sentiment.

[footloose2] 22/12/2018 08:34

Was that 14.5m a buy or sell after hours?
Could have been berger selling the last of there shares?
The price suggests a buy, but you can never tell on AIM.
Anyway, some news on Monday, lets hope he can give us some positive news this time and not just vague info again.
A nice RNS first thing with positive news would set him up nicely to send us off for Christmas with a feel good feeling.
Because at the moment most holders do feel like he has let them down.

[footloose2] 22/12/2018 08:17

Well i have read the RNS again and yes it does state that the shares can be bought bag up to 90 days. How this would work is beyond my pay grade. As it Berger has sold them on the open market they don't hold them anymore.
Also its stated that.

"to hold a General Meeting of the Company by 31 January 2019 to seek Shareholder approval for the authorities to issue Shares of a further £1,000,000 nominal value (to enable the Company to raise additional capital, if needed, and to ensure that sufficient headroom is available for conversion of the Convertible Securities, if needed)".
Well i thought they had enough head room to cover this conversion (if needed) anyway.

[footloose2] 22/12/2018 08:05

So the loan has been taken and we start the 30 day countdown.
What i have just found out is that if the loan is converted AP has 90 days to buy them back. I must have missed that bit in the RNS.
So that does put a different complexion on things yet again.
I will read the RNS again to check.
I think we were all guilty of reading that RNS seeing the name burger and just thinking the worst.

[routy] 21/12/2018 15:25

AP said he has plenty of options re funding - hopefully Podcast on Monday will shed more light...

[footloose2] 21/12/2018 12:27

Routy

Thanks for that info.
He may be confident but AP has been very confident about all things he has said this last year.I would be more confident if he says he has a plan b just in case.
I have taken all the other delays as not his fault, he was told info and share holders were wanting news so he passed it on. Then he got the blame for missed time lines.
This bridging loan is completely different. He needs to make sure if T2 is delayed again he has another back up. Only desperate companies go with the likes of berger,
and this is not a desperate company.
If AP can get this finance sorted very soon we will be up and running. In 6 months time this could become a money cow. I want long suffering shareholder to benefit from this becoming that money cow, not the usual people that step in at the end make the money and leave long term share holders lying on the floor beaten, blooded and skint.

[footloose2] 21/12/2018 12:08

andratx

I do believe he has some quality management on board.
I am not sure if we have a CFO on the board or how good he is.
I think AP needs help on the finance side of things.
He can't do everything, even if he thinks he can.
The problem here has been money, the shortage of it.
If he could get a good senior debt deal from a bank i do believe he would work wonders.

I have just noticed a 40m sell at .32p from last night pop up.
It did not take long for burger to off load most there shares.

[routy] 21/12/2018 11:56

I had a chat with AP yesterday and he assured me the loan is just a stop gap and will be paid back as soon as possible.He sounded very confident in the future so much so I had a top up!He said podcast on Monday.

[andratx] 21/12/2018 09:15

footloose2 I agree with all of your comments and thanks for raising the level of debate. Let's not forget that there is a BoD in place and collectively they should all be focusing on increasing shareholder value. Perhaps some fresh blood is required?

[footloose2] 21/12/2018 09:13

I just read this comment from LSE.

"Trying to balance the books while obtaining bargains"

As i said earlier, they are not bargains if they don't add a penny, or you end up paying for them with wonga loans.

[footloose2] 21/12/2018 09:13

I just read this comment from LSE.

"Trying to balance the books while obtaining bargains"

As i said earlier, they are not bargains if they don't add a penny, or you end up paying for them with wonga loans.

[footloose2] 21/12/2018 08:41

I don't know about a Santa rally on the markets, more like a ski slope.

Back to this bridging loan, well that is all we are going to hear about now for the next month or til it paid.

We need to know what the money from the last placing has or is going on.
Why have we not been informed? it must have been spent or why do a placing a month ago?. If he has sorted another fantastic asset he needs to get his priorities right.
Not one asset has added a penny to the share price over the last 12 months. Yet it seems he has bought another one with disregard how he is going to finance the ones we already have.
Well he did think T2 was coming, but we all know how unreliable governments,banks and the financial side of business are.
So here we are today being raped for just leaving that door partly open to Berger.
If AP did not think even the smell of this kind of finance would do he should have.
If he has no plan B and Berger does get there hands on those shares Then AP should
take a long look at himself and ask, am i in this with the shareholders or really just for myself.