Vatukoula Gold Share Discussion Threads

[reks] 09/6/2014 21:58

Andy

They may not de-list if they decide they don't want to pay the 3.72p before the 30th June. Also there are other approvals needed so this is just an intention to delist. Happened many times before with companies in the past where they did not delist and carried on. It was just a way of institutions to load up cheap or shareholders to increase stakes on the cheap. Wouldn't be surprised as this company is badly managed and has screwed a lot of long term holders over. But I'm here for the short term value

[ihavenoclue] 09/6/2014 19:34

And why on earth does he think he will get 5p+ ? Anyone still holding will get screwed just like they screwed the company to be able to takeover.

[andy] 09/6/2014 19:28

Reks,,

Why on earth would they cancel the delist?

[reks] 09/6/2014 18:23

Great day after initial mm games. Looks good for an attack on 3p tomorrow. If we get the 3.72p cash off then great but IMO just as good chance the delist is cancelled and this goes back to asset value of 5p+

[chinese investor] 09/6/2014 16:36

For The Record I've Been Accumulating !

[atlantic57] 09/6/2014 12:54

Wise words tim must avoid aim stocks in future no regulation at all !

[timgw] 09/6/2014 12:20

Potential support level is NIL!! As we all know, AIM regulation is non existent and we investors have only ourselves to blame for our losses. If this were a USA company the directors and there chums would be seriously in the soft and smelly but, hey, that's life I guess.

[atlantic57] 09/6/2014 12:12

If Zongun had supplied the working Capital on the dates originally promised, then
there would have been no need to raise the extra money.

On the other hand some are suggesting that the whole enterprise was a scam and or there is no high grade ore left.

given they have been looking fro it for 5 years you must wonder.

[andy] 09/6/2014 11:55

You mean the whole company?

[adyfc] 09/6/2014 09:31

£1 by christmas.

[chinese investor] 09/6/2014 08:43

1.51p To Buy !

3.72p To Sell In December (Possibly) !

[chinese investor] 09/6/2014 08:37

......And They Did !

Chinese Investor (MTV) 16 Aug'13 - 10:54
The "Elephant In The Room" is Zhongrun with their 66% holding !
They could buy the entire company for a song !
One Penny !

[21trader] 09/6/2014 07:56

3 million dumped at 1p oh dear further to fall

[humbugg] 08/6/2014 14:56

not worth the risk imo
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Any shareholder who wishes to take advantage of this opportunity to dispose of his entire, but not part of his, shareholding should contact WH Ireland from the 1 December 2014, and details of the procedure will be made available on the Company's website by that date.

At this point in time Zhongrun has not lodged any funds with WH Ireland to purchase any such Shares, and although it provided assurances that it will do so, there is not a guarantee that Zhongrun will be able to complete the acquisition of the shares as envisaged above.

[andy] 07/6/2014 20:55

Interesting post!

I have head some of those points raised before in a discussion in Canada!

[chinese investor] 07/6/2014 14:00

"FIJI TIMES

"The mine which has been operating for over 75 years, Mr Gordon said has all but exhausted the gold ore resources that could be profitably mined."

Simon When the old owner says this you really have to keep an open mind.

Fiji gold mine closes, 1700 jobless
Wednesday, December 06, 2006

More than 1700 people are jobless after the Emperor Mines Limited ceased operations of Vatukoula Gold Mine yesterday.

Emperor's chief executive Brad Gordon said this decision was made after the completion of an extensive three month review of the Vatukoula Mine which determined that the mine was not economically viable.

He said the closure of the Vatukoula Gold Mine is not a result of the political situation in the country at the moment.

"The mine will now move into a care and maintenance mode over the coming two weeks, and most work areas will no longer operate from today. Some essential functions will continue, so that finance and human resources services can continue. Workers are being advised not to attend work, and are being stood down on notice," said Mr Gordon who is in the country to make the announcement.

Mr Gordon said the only activity that would occur over the next four weeks is a decommissioning of the mill as the mill gets the final gold out of the circuit.

Mr Gordon the mine was losing as much as $3 million to $5 million every single month including important capital expenses which were needed to keep the mine open and safe.

The mine which has been operating for over 75 years, Mr Gordon said has all but exhausted the gold ore resources that could be profitably mined.

He said the recent review produced results showed that the remaining gold ore could not be mined profitably as the company would lose over F$80 million trying to recover what has been identified as possible gold ore.

Emperor Mines Ltd and the entities it controlled during the year ended June 30, 2006 made a loss of $27,217,000 after tax Emperor owns interests in three gold mines: 20 per cent of the Porgera Joint Venture one of the worlds largest gold mines, 100 per cent of the Vatukoula gold mine in Fiji and 100 per cent of the Tolukuma gold mine in PNG."

[atlantic57] 07/6/2014 13:27

Janboy you were 100% correct.
Can you summarize in a few words hy the old mine closed or point me in the direction of specific posts.

Trawling through old posts is very time consuming and many of them are just posters slagging off other posters.

cheer!

[janyboy11] 07/6/2014 11:41

YOU HAVE BEEN CONNED FOR YEARS --- AND YOU WERE TOLD, VGM WAS NEVER SUPPOSED TO WORK BECAUSE IT NEVER COULD -- IT WAS SET UP JUST TO STEAL YOUR CASH






janyboy9 23 Mar'12 - 11:54 - 1353 of 1354 0 0


YOU EXPECT THE TRUTH FROM VGM ARE YOU MAD ?

THIS COMP IS PLACINGS PLACINGS PLACINGS --- THATS IT



PLUS THEY WILL NEVER GET TO 100,000 OZ BECAUSE VATAKOUALA IS A LABOUR INTENSIVE MINE AND THEY ARE SHORT 200 MEN --- DYOR ON THAT AND RESEARCH THE PREVIOUS COMP AND WHY THEY CLOSED VATAKOUALA

[atlantic57] 07/6/2014 10:40

Star you may well be correct!

However there must be very serious doubts about whether Vgm actually has any high grade ore left. They have spent 5 years tunnelling and produced peak production of what 60 000 ounces per year.

There have been endless promises of new mining methods , production guidance share placings at lower and lower prices with the need to raise more and more money.

This looks like a black hole not a viable gold mine, to be fair there were many posters saying this 5 years ago , they were correct.

[doji star] 07/6/2014 08:07

I just think they want it to list in some where like hong kong instead.

given the make up of board and shareholders base, it would make sense.

wouldn't be be surprised if actually relist it pretty quickly to raise the extra cash they need.

"In addition to the above VGM will be seeking the opportunity of listing the Company in the Asia or North America markets, where gold companies command a better company valuation" - Chairman feb 2014

[andy] 06/6/2014 18:43

atlantic,

Wise words!

When was the last time anybody gave you "free money"?

caveat emptor, as they say in Beijing!

[atlantic57] 06/6/2014 16:48

Topfino Can Zhongun be trusted to deliver?

There record to date does not bode well !

[buywell2] 06/6/2014 16:45

buywell2
1 Jun'14 - 10:43 - 1081 of 1117 0 0 edit


This has got a tough month ahead of it



Says it all .... they are not viable

''Vatukoula Sold 19,116 ounces of gold during the first half of this year at an average cash cost of US$1,463 per ounce. ''


Even worse

''Subsequent to the half year ended 28 February 2014, and for the two months ending April 2014, the delivered grade from the mine has decreased to 3.63 grams of gold per tonne, which has resulted in just under 5,312 ounces of gold shipped. The effect of the lower grade and lower production has resulted in an increase in cash costs per for the two month period to approximately US$2,006 per ounce. ''