Vatukoula Gold Share Discussion Threads

[atlantic57] 12/8/2013 09:42

The Debt Funding is conditional on the completion of the Equity Funding and the Loan Notes will carry an interest rate of 13% per annum and be for a term of six years. During the first three years the Company will not make any payments of interest (which will continue to accrue) or repayments of the principle. Following the initial period of the three years the Loan Notes will be repaid over the remaining term of three years. The Investment Agreement provides for the subscription for the Loan Notes in early December 2013.


Norsman gold mark 2

[atlantic57] 12/8/2013 09:04

A superb piece of management wait till the share price falls from £2.20 to 6 p and then more than double the shares in issue!

[chinese investor] 12/8/2013 07:43

Thanks ELBAN

[augustusgloop] 12/8/2013 07:41

KEMO4 had used the bid as an argument against ELBAN's previous assertions of Chinese buying it on the cheap. [Having to bid highest price paid in last 12 months.]

But he was lying again -- its outside UK juristriction.

[chinese investor] 12/8/2013 07:32

Don't Zhongrun have to make a bid now ?

[chinese investor] 12/8/2013 07:27

august,
I would not be surprised to see him removed soon.

[augustusgloop] 12/8/2013 07:24

This is what Dave Paxton said on 10th Jan 2011

"The program to establish sufficient operating areas will continue until the mine is in a position to maintain production at our long term planned rate of 100,000 ounces per annum. This initiative is currently planned to continue for a further 5 months and expected to be complete in May 2011."

----------------------------

Does anybody still believe that he is not a liar?

The share price had hit 220p just before this on the back of his false promises,

[chinese investor] 12/8/2013 07:12

Get Digging !

[chinese investor] 12/8/2013 07:05

Vatukoula Gold Mines plc, the AIM listed gold producer focused on Fiji, is pleased to announce that the Company has entered into an investment agreement with Zhongrun International Mining Co. Ltd ("Zhongrun") for Zhongrun to provide US$ 40 million of funding to implement the production growth strategy and capital investment plan at the Vatukoula Gold Mine ("Investment Agreement").

Under the Investment Agreement the funding will be provided in two tranches of approximately US$ 20 million each.

The first tranche will be provided by the issue by the Company of 188,897,000 new ordinary shares at a subscription price of 6.89 pence per share ("Equity Funding").

This will raise gross proceeds of approximately GBP13 million.

The second tranche will be provided by Zhongrun subscribing for US$ 20 million of secured loan notes ("Loan Notes").
The Equity Funding will be subject to shareholder approval at General Meeting to be convened shortly and to be held in early September.

The Company has obtained irrevocable undertakings from approximately 51% of its shareholders to vote in favour of the Equity Funding.

Subject to shareholder approval it is expected that the Equity Funding will be completed by the 10(th) September 2013 when the new ordinary shares will be admitted to AIM.

Once these shares are issued they will represent approximately 55% of the enlarged share capital of the Company.

Zhongrun currently holds 37,800,000 ordinary shares in the Company and following the completion of the Equity Funding will hold 226,697,000 ordinary shares, representing approximately 66% of the enlarged share capital of the Company.

The Debt Funding is conditional on the completion of the Equity Funding and the Loan Notes will carry an interest rate of 13% per annum and be for a term of six years.

During the first three years the Company will not make any payments of interest (which will continue to accrue) or repayments of the principle.

Following the initial period of the three years the Loan Notes will be repaid over the remaining term of three years.

The Investment Agreement provides for the subscription for the Loan Notes in early December 2013.

The Investment Agreement is also subject to approval by the shareholders of Zhongrun's ultimate holding company, Zhongrun Resources Investment Corp ("ZRIC"). Irrevocable undertakings have been given by certain of ZRIC's shareholders to vote in favour of the transaction in respect of a total of approximately 47% of its share capital.

ZRIC require 50% of its shareholders to vote in favour to approve the transaction.

[chinese investor] 09/8/2013 15:34

........but there is going to be an announcement soon !

[chinese investor] 09/8/2013 14:33

It looks like Paxo's not having much luck with the Bank Manager.

[craignet8] 26/7/2013 15:45

Johncraven 24 Jul'13 - 12:40 - 719 of 720 0 0

What a call that was In with a 100k at 6.4p

-----------------------------------------------------

Currently 6.7p on the bid and falling. So what, you've made £300? TAKE IT AND RUN. :D

[chinese investor] 25/7/2013 08:03

Looking Good !

[johncraven] 24/7/2013 12:40

What a call that was In with a 100k at 6.4p

[johncraven] 24/7/2013 12:38

boooooooooom 10p

[chinese investor] 24/7/2013 12:34

"No Comment"

[johncraven] 24/7/2013 12:33

Here we go gents

[johncraven] 24/7/2013 12:15

Things about to start warming up here. Level 2 stacked with buy orders and back to 10p in no time.

[chinese investor] 23/7/2013 10:56

Let's Have Another 15p Placing Please !

[michaelsadvfn] 23/7/2013 06:43

Look good!!!

not

[chinese investor] 23/7/2013 05:53

Gold futures edged higher in electronic trade Tuesday, adding slightly to the metal's heftiest one-day rally in more than a year.
Gold for December delivery (GCZ3), which is now the most-active contract, turned higher by 90 cents, or 0.1%, to $1,338.20 an ounce.
On Monday, August gold futures (GCQ3) jumped $43.10, or 3.3%, to $1,336 an ounce on the Comex division of the New York Mercantile Exchange. That represented both the largest one-day percentage and largest dollar gain since June 29, 2012.
The settlement was also the highest for a most-active contract since June 19 of this year, according to FactSet data.
Contributing to Monday's leap was heavy short covering and new technical buying, "as buy-stops were hit when prices pushed well above what was stiff chart resistance at the $1,300 level," Kitco.com senior analyst Jim Wyckoff wrote in a late-day roundup.
The rally on Monday "has left gold parked at the technical resistance level formed by its 50-day moving average and its May 20 lows. A clear break above this resistance would encourage technical traders to the view that a more significant technical rally could be in prospect," CMC Markets chief market analyst Ric Spooner told clients early Tuesday.
A fall in the U.S. dollar (DXY) against major rivals also supported gold. A lower greenback makes the metal and other commodities priced in dollars less expensive for holders of other currencies.
Gold had risen over the past three sessions after Federal Reserve Chairman Ben Bernanke said it was too early to determine whether the central bank will slow down the pace of asset purchases at its September meeting. Monetary-stimulus measures aimed at encouraging economic growth have been considered supportive for gold prices.
Bernanke's remarks suggesting that stimulus could remain in place a little longer than previously anticipated "helped to put the wheels in motion" for gold's recent run higher, EverBank assistant vice president Mike Meyer wrote in daily update Monday.
"The next couple of Fed meetings should have a significant impact as to the near-term direction of metals, as any hints of procrastinating plans to taper should act as a springboard, but anything to the contrary would tend to keep it suppressed," Meyer wrote.
The Fed's next meeting is slated for July 30 and 31.
For the year, gold prices are still down 20%, largely on concerns that strengthening in the U.S. economy would spur the Fed to taper its asset purchases. Record outflows from gold exchange-traded products logged earlier this year reflected investor worries about dialed-down stimulus.

[chinese investor] 22/7/2013 13:41

Gold Will Be $1,400 By The End Of The Week !

[chinese investor] 22/7/2013 04:22

Price of Gold Looking Good !

[sunsetwarrior] 19/7/2013 10:25

Sinking to new lows.