Vatukoula Gold Share Discussion Threads

[big7ime] 29/5/2013 23:02

Did warn people, caution is the name of the game before investing here

[johncraven] 29/5/2013 17:47

Good day today

[atlantic57] 28/5/2013 18:47

Over the last 3 years there have been a number of occasions when articles have been produced which claim that they have now hit the high grade ore.

However what we need is an rns statement telling us that in the last month x number of ounces have actually been produced.

i don 't trust the board and judging by the share price reaction i am not alone.

[chinese investor] 28/5/2013 13:42

The Information in the Header will soon be Out Of Date because I am Unable to Update the Information without Losing the Formatting (i.e. Tables) & Charts.

[giant steps] 28/5/2013 12:08

Perhaps we will get a VGM trading update - ahead of market expectations !

[roguetreader] 28/5/2013 11:52

P@
Thanks for the post, it would be nice if Mr Whittle was imparting this update to the shareholders via a news bulletin rather than second hand, given the critical phase in the company's development and the obvious hunger for quality information from the shareholders.
RT

[p@] 28/5/2013 09:18

Hope for VGM
Geraldine Panapasa
Tuesday, May 28, 2013
OPERATING activities at the Vatukoula Gold Mines have been constrained because of the mine\'s financial position.

This had led to a reduction in the development and exploration drilling activities over the past six months.

VGM general manager David Whittle said this period had been difficult with regards to production not having been to the levels they wanted to see.

\"In certain areas of the mine, the hard work that has been undertaken over the last 18 months to two years in terms of transitioning the mining method and increased capital development is just starting to show results,\" he said yesterday.

\"Within the last month, mined grades have started to increase and stope production levels have now increased month-on-month for the last five months.

\"Development still needs to continue to ensure further production gains are enabled and to allow flexibility in the mine production such that the effect of any negative grade fluctuations can be minimised.\"

The company recently entered into a subscription agreement with SCD Energy for an investment of GBP4.5million ($F12.4m), the possession of 30 million shares and a 19.2 per cent stake in the company.

Mr Whittle said the investment, in a globally changing investment environment, was a key indication of potential and progress at the mine.

\"After having examined the Vatukoula Gold Mines in detail, the investor can see the future potential that the Vatukoula Gold Mines holds and that operations are progressing in the right direction to be able to realise that potential,\" he said.

\"VGM\'s long-term goal is still to return the mine to the historical production levels of 100,000 ounces of gold produced per year which will provide benefits to shareholders, the people of Fiji and the community of Vatukoula as a whole.\"

According to the agreement, the company and DRK Energy had agreed to work in conjunction to source the required debt financing to fund the company\'s expansion program.

Should VGM enter into a debt financing package facilitated or introduced by DRK of no less than $US40m ($F73.59m) within 120 days of the subscription agreement, DRK would have the option to acquire an additional 24 million new ordinary shares in the company at a price of GBP0.15 ($F0.41) per share.

[larboulois] 28/5/2013 09:03

Re the emails I sent to DRK (I sent four in total between 20th May and 23rd May - two in English and two in French)- no replies.

Re BP and Shell. Shell have referred me to another email address (so far in English), while BP have referred me to their French websites (obviously in French where my ability to make requests falls down).

[atlantic57] 28/5/2013 08:12

Unfortunately for Vgm sentiment has now turned negative with regards to the price of gold.

In the short term say 12/18 months gold may well fall further!
Experts like Jim Sinclair have made the wrong call.Personally i don\'t thing gold is finished but have no idea when it will resume its bull phase.

Vgm Management should have made the investment required two years ago when the share price was nearer £2.

I am afraid now they have alot to do.

Paxton has been a disaster for vgm had we have had someone who understands mining geololgy the outcome could have been so different.

[chinese investor] 28/5/2013 07:49

Within the last month, mined grades have started to increase and stope production levels have now increased month-on-month for the last five months.

[giant steps] 28/5/2013 07:46

Hope for VGM - 28th May 2013

[chinese investor] 28/5/2013 04:49

OPERATING activities at the Vatukoula Gold Mines have been constrained because of the mine\'s financial position.

This had led to a reduction in the development and exploration drilling activities over the past six months.

VGM general manager David Whittle said this period had been difficult with regards to production not having been to the levels they wanted to see.

\"In certain areas of the mine, the hard work that has been undertaken over the last 18 months to two years in terms of transitioning the mining method and increased capital development is just starting to show results,\" he said yesterday.

\"Within the last month, mined grades have started to increase and stope production levels have now increased month-on-month for the last five months.

\"Development still needs to continue to ensure further production gains are enabled and to allow flexibility in the mine production such that the effect of any negative grade fluctuations can be minimised.\"

The company recently entered into a subscription agreement with SCD Energy for an investment of GBP4.5million ($F12.4m), the possession of 30 million shares and a 19.2 per cent stake in the company.

Mr Whittle said the investment, in a globally changing investment environment, was a key indication of potential and progress at the mine.

\"After having examined the Vatukoula Gold Mines in detail, the investor can see the future potential that the Vatukoula Gold Mines holds and that operations are progressing in the right direction to be able to realise that potential,\" he said.

\"VGM\'s long-term goal is still to return the mine to the historical production levels of 100,000 ounces of gold produced per year which will provide benefits to shareholders, the people of Fiji and the community of Vatukoula as a whole.\"

According to the agreement, the company and DRK Energy had agreed to work in conjunction to source the required debt financing to fund the company\'s expansion program.

Should VGM enter into a debt financing package facilitated or introduced by DRK of no less than $US40m ($F73.59m) within 120 days of the subscription agreement, DRK would have the option to acquire an additional 24 million new ordinary shares in the company at a price of GBP0.15 ($F0.41) per share.

[chinese investor] 24/5/2013 15:42

The Future is Determined by :-

1) The Price of Gold
2) The Bank Lending Conditions

[chinese investor] 24/5/2013 08:32

10.65p - 11.25p

[big7ime] 24/5/2013 00:14

Who are they, do they exist? Does the £4.5m exist? No trust after false claims before. Not a uk reg co. - similarities to Langbar, buyers beware, only invest what you are prepared to lose and lose all.

[big7ime] 24/5/2013 00:03

Down we go, will the funding materialize? I think possibly not

[atlantic57] 23/5/2013 21:56

Well as we are speculating i reckon there are a number of scenarios!!

I don't think anyone really has any idea what is going to happen as the pog is a major factor in all this and that is uncertain.

im just grateful that have avoided bankruptcy at least for the minute.

For sure no one trusts Dave Paxton !

[larboulois] 23/5/2013 20:26

Oh no, NOT shareprofits!!

[augustusgloop] 23/5/2013 19:43

Chinese,

I can understand the people don't trust Dave and so did not buy.

But why would anybody sell at a lower price than they could have got yesterday?

That news can not be construed as anything other than highly positive.
At 15p the Chinese are clearly overpaying - but they have stumped up the cash.

[chinese investor] 23/5/2013 18:13

augustus and atlantic,
I'm too surprised that there were not more buying !