2 days ago
Here we go again. Vast Resources (VAST) a company where 99.99% of shareholder value has been destroyed was due to repay $8.4 million to two death spiral providers, Alpha & Mercuria, last May. But being a cash consumptive company with no money whatsoever that was going to be hard. If you owe the bank £1 you are in trouble. If you owe the bank $8.4 million the banks, or in this case death spiral providers, are in the merde.
158 days ago
Vast Resources (VAST) says that it is “pleased” to announce what turns out to be bad news. I imagine that London’s worst Nomad Roland “Fatty” Cornish signed off on that particular gem well into Friday’s 15 course lunchtime feast. This is all to do with those diamonds locked up in the central bank in Zimbabwe which Vast said back in February would soon be recovered, promoting a massive share price ramp enabling some bailout placings. So, what is the news from Harare?
297 days ago
Since 6 February this year Vast Resources (VAST) shares have soared, notwithstanding one bailout placing, on claims that it would very shortly be getting its mits on 129,400 carats of rough diamonds held in “safe custody” at the Reserve Bank of Zimbabwe. Even as the shares raced ahead to almost 0.7p shareholders in this company with shite assets and run by charlatans were still sitting on 99%+ losses such as been the industrial scale value destruction via share issuance and boardroom greed over the years. Today came some reality. And then like Vast’s dreams they fade and die…
438 days ago
Vast Resources (VAST) has today confirmed that it should get back the diamonds it owns but which have been locked up by the Central Bank of Zimbabwe for years. But this does not solve its cash crisis, indeed it’s a confirmation that a bailout placing is needed ASAP. The clue, the morons ignore, is in the RNS.
1731 days ago
My fat, drunken, friend Jono from Zimbabwe arrives at the Welsh Hovel shortly and I shall try not to allow him to lead me astray. I also await Gabriel’s next bombshell dossier I am to publish tomorrow morning. In this podcast I look at the wider implications of the RM2 (RM2) debacle for Neil Woodford, at IQE (IQE), at Fevertree (FEVR) – hat tip Leon Boros – at St James House (SJH) and at Diversified Gas & Oil (DGOC).
2341 days ago
Is Mugabe a hero or a villain? For you and I, the case of Africa's Hitler is clear cut. But not for the BBC as you can see below. That it even needs to ask the question "Mugabe: hero or villain" show show utterly rotten the State funded broadcaster has become. We could start with the genocide...
2347 days ago
Today's main bearcast is short as I feel rotten. Apologies. In it I cover events in Zimbawe and look forward to the execution of Africa's Hitler. I look at Purplebricks (PURP), UK Oil & Gas (UKOG), West African Minerals (WAFM) and Mosman Oil & Gas (MSMN)
3784 days ago
Reflecting on the UCL Libertarian dinner at Real Man Pizza last Thursday and on a chat with its guest speaker my mind turns back to Lady Thatcher and wondering what were her greatest failings as Prime Minister. Thinking off the top of my head my top seven would be:
1. A failure to reform the world’s third largest employer, the NHS so that it cared for patients in a cost effective manner rather than looked after over-paid and unaccountable staff
2. A failure to privatise the BBC
4098 days ago
On Christmas Eve I noted that there looked to be value in shares in main market listed Aquarius Platinum (AQP) at 55p. Earlier this month the shares hit more than 75p but currently trade at 62.25p, capitalising the company at £296 million, following the announcement today of production results for the quarter ended 31st December 2012. So is it time to bank gains and sell?
4134 days ago
have tipped fully listed ( and JSE listed) Aquarius Platinum (AQP) three times in my life: once at Red Hot Penny Shares and twice at t1ps.com. Each time we have sold and booked handsome gains but the past 12 months have seen the company have to weather a series of plagues reminiscent of a biblical torment. If its own South African workers were not on strike, workers at neighbouring mines were out and engaging in secondary picketing. The prices of Platinum Group Metals fell sharply (to around $1100 for a PGM basket) and meanwhile negotiations on the sale of half of its Zimbabwean operation to local Black Economic Empowerment groups dragged on. After such an annus hornbills, long serving CEO Stuart Murray stepped down as CEO and the share price is now 55p, having been 45p three years ago. But could 2013 be a year of recovery for this company which is still valued at £260 million?
4165 days ago
I have rather lost track on how Abu Qatada’s claim for a far bigger council house and £10 million compensation is going. But the Islamofascist lover of terrorism continues to enjoy liberty and a lavish lifestyle in a country he despises thanks to its taxpayers. Even Call Me Dave seems to think that there is something not quite right about all of this. But meanwhile we must not infringe the human rights of this repellent human being. That is Al Qatada not call Me Dave.
And so without infringing the human rights of the bearded nutter (since the Kent Police will probably arrest you for it) I ask you for suitable captions to this picture (and I challenge Jon Pickles to get Prince Harry in here).
The winner will receive a Piss off Argentina T-Shirt which of course you can buy exclusively here.
My entry is: “The BBC’s new Middle East correspondent gives his balanced opinion on the state of play in Gaza”
4172 days ago
This week it emerged that Robert Mugabe, Africa’s Hitler, had stolen $2 billion worth of diamonds from the poor people of Zimbabwe. But still the UK hands over £80 million a year directly in aid and a lot more via the Evil Empire.
And so in honour of the old Devil this week’s caption contest is an Uncle Bob special. Let’s see if the UK’s wittiest accountant Jon Pickles can somehow get Prince Harry into his entry for this week.
Please post your captions in the comments boxes below. The winner gets a Piss off Argentina T-shirt which, of course, you can always buy here.
4176 days ago
We all know that the UK foreign aid budget is a costly disgrace this country cannot afford. Across Africa our money is allowing tyrants to rob their people with the aid we pump in a real disincentive to reform. We help no-one with our efforts but Call Me Dave is so desperate to be seen as “nice” that he keeps on writing cheques. Well Mr Cameron please explain Zimbabwe to me.
A report out today from Partnership Africa Canada, a member of the Kimberley Process, the world regulatory body on the diamond trade, says that Mugabe and his cronies have stolen $2 billion from the Marange diamond fields which lie within his country. That $2 billion has been looted over a period of six years so let’s call that $330 million a year. Funds from diamond sales of that order should have shown up in the State Treasury but have not. They have, of course, headed off to Switzerland. Mugabe says that the report is false. The authors of the report say that the $2 billion number is a “conservative estimate” and it appears that Hitler’s own finance minister Tendai Biti backs up the claims from PAC.
Now what does this tell us? Well first a quick word about Hollywood, deluded lefty celebs and the film Blood Diamond starring Leonardo di Caprio.
4204 days ago
I know that like many folks I have always worried that South Africa was on its way to becoming Zim South. But articulating such a view always generates standard replies. “You do not live there and really understand what is happening” is the mild retort. The harsher response is that you are a white, English, racist/Imperialist. So generally it is an area that you leave alone. And thus I am indebted to The Goddess for sending me over a piece by Moeletsi Mbeki: Author, political commentator and entrepreneur.
MM is also the younger brother of former President Mbeki. I guess MM is on the ground and is fully qualified to say what he thinks without being accused of any “isms.” And this article makes for shocking reading. Not only does he say that Maggie got SA right (I guess the Guardian will not be running this as an op. ed. And the BBC will not cover it) but its conclusions are explicit, clear and unambiguous. It reads
South Africa: Only a matter of time before the bomb explodes!
I can predict when SA’s “ Tunisia Day” will arrive. Tunisia Day is when the masses rise against the powers that be, as happened recently in Tunisia. The year will be 2020, give or take a couple of years.
4299 days ago
Appeasing Hitler in the 1930s did not work. We offered concessions and the nasty old Nazi just came back for more. But at least we learned a lesson right? Er no. It appears that the West (the EU actually) is planning to appease Africa’s Hitler, Robert Mugabe by lifting sanctions on Zimbabwe in the hope that this will make old devil less unpleasant. That the opposition MDC has welcomed the move says a lot about them (they are brave but useless) but does not make this right.
Is it fair to term Mugabe Africa’s Hitler? Without a doubt.
4299 days ago
Somewhere I have a 5 trillion dollar bill from Zimbabwe which is, apparently, worth quite a bit on ebay although it never had much value in Zim. I now find in my pocket a 1 Eurocent piece minted in Greece which I also intend to treasure as a bit of a currency geek. It will soon be absolutely worthless (right now it is worthless to all intents and purposes) but that might give it a strange value.
It is a pretty little coin about half the size of a 1 penny piece with a picture of an ancient Athenian ship (a trireme) on the reverse.
