Vatukoula Gold Share Discussion Threads

[chinese investor] 05/4/2015 12:29

....and then maybe not !

[augustusgloop] 05/4/2015 12:24

So, if oil reaches MINUS $350 a barrel the mine may be profitable?

[chinese investor] 05/4/2015 12:22

"the company has a very high power cost representing approximately 35% of its operating costs"

[andy] 05/4/2015 12:11

CI,

And by how much will that reduce the cost?

[harrytuesday] 04/4/2015 21:02

one can but hope

[chinese investor] 04/4/2015 20:55

Energy costs are much lower !

[andy] 04/4/2015 20:28

Buywell,

Exactly, it's not economic at current gold prices.

Quite why the Chinese bought it is totally beyond me.

[buywell2] 02/4/2015 09:46

What's the latest cash cost per oz ?

At the prices in the header this should be mothballed if it ain't already


Date .... Oz Mined ..... cash cost per oz $ .... cash realized per oz $

May 2014 8,139 ............ 1,938 ................. 1,271
Feb 2014 7,622 ............ 1,618 ................. 1,239
Nov 2013 11,090 ........... 1,363 ................. 1,275

charts rule ok


free stock charts from uk.advfn.com

[nicd] 02/4/2015 09:40

According to GoldmanSucks, mineable reserves of gold have only 20 years to run:
New report says there are only “20 years of known mineable reserves of gold”

So perhaps there is a future for the mine, and some hope for us shareholders.

[andy] 02/4/2015 09:37

Hardly a surprise is it?

How anyone trusted them to comply is beyond me.

[squibno1] 02/4/2015 09:02

"This work may take some limited additional time which, together with the approaching Chinese New Year holidays (18 - 24 February 2015), means we currently expect any intended purchase process would not start until March 2015 in accordance with the terms and conditions set out in the Circular."
Not starting in March then!

[andy] 17/3/2015 10:55

How "soon"?

[chinese investor] 17/3/2015 10:44

Announcement Soon !

[andy] 18/2/2015 07:54

Well at least they still seem committed to pay up!

Which is something I sincerely doubted at the outset of that proposal.

No money yet though, so we shall see!

[nicd] 16/2/2015 18:53

Further extension today,into March, slightly better than a dead end


To:The Board of Directors,
Vatukoula Gold Mines PLC (“VGM”)
Re:Outstanding Shares Dear Directors,
We refer to the cancellation of all of VGM’s shares to trading on AIM in accordance with Rule 41 of the AIM Rules for Companies published by London Stock Exchange plc (the “Cancellation”). Among other things, the circular issued by VGM dated 30 May 2014 (the “Circular”) described the intention of Zhongrun International Mining Co., Ltd (“Zhongrun International”) to purchase shares (“Outstanding Shares”) in VGM from other shareholders who wish to sell their shares following the Cancellation by way of matched bargains, and set out the pricing and other terms (“Outstanding Shares Proposals”) . This letter is an update on the Outstanding Shares Proposals.
A letter issued by Zhongrun International and published by VGM on 3 December 2014 referred to the negotiations between Zhongrun Resources Investment Corporation (“Zhongrun Resources”) and a potential buyer in relation to the acquisition of certain of Zhongrun International’s mining assets. As a result of these negotiations, Zhongrun International stated that it intended to be in a position to purchase the Outstanding Shares from 1 February to 15 February 2015. On 5 February 2015 Zhongrun Resources announced that such negotiations had been terminated. The time spent on those negotiations however has caused further delay to the intended implementation of the Outstanding Shares Proposals.
Following the termination of negotiations, Zhongrun International, VGM and its financial advisor recommenced work in connection with the Outstanding Shares Proposals, including the opening of the special account to fund the purchases of the Outstanding Shares. This work may take some limited additional time which, together with the approaching Chinese New Year holidays (18 - 24 February 2015), means we currently expect any intended purchase process would not start until March 2015 in accordance with the terms and conditions set out in the Circular.
This letter and any non-contractual obligations connected with it shall be governed by and construed in accordance with English law.
Your sincerely,

[chinese investor] 17/12/2014 12:23

Not looking good !

[andy] 12/12/2014 10:58

nicd,

Any reason given for the delay?

[timgw] 11/12/2014 14:23

nicd - You may find that the Capital Taxes Office of HMRC will accept the circumstances of withdrawal of the capacity to trade in the shares as effectively being a write off. Worth having a word with them before April.

[nicd] 05/12/2014 20:22

ha, offer now delayed to feb.

[nicd] 04/12/2014 18:11

ok, they seem to be living up to the offer so I will be selling now to crystallise the large loss

[gekks] 08/11/2014 08:41

VGM were at a much higher valuation when gold was at $900. Management fkd up. I'm keeping my holding - which sadly was £120k at one point.

[andy] 07/11/2014 06:26

It will be interesting to see if that promise is adhered to!

The current POG must be presenting them with some challenges.

[nicd] 07/11/2014 05:45

Anyone any update on the 'promise' to buy back:

In addition, Zhongrun International Mining Co Ltd ("Zhongrun"), the Company's major shareholder, has, conditional upon Cancellation becoming effective, assured the Company of its intention to acquire the Shares of any Shareholder who does not wish to remain a Shareholder at a price of 3.72 pence per Share from December 2014. Further details are included below in the paragraph entitled "Effect of Cancellation".

[jollynews] 19/7/2014 08:38

No refund to VGM Today, 8:38 AM