raki raki gold project, fiji (peninsula minera, page-18

Thanks builda,

Multi-billion dollar gold find in Fiji
By MICHAEL FIELD - Stuff.co.nz
Last updated 15:15 25/01/2010

FIND: Details of a major gold find in Fiji are expected to be revealed overnight
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Fiji's only gold producer is expected to announce tonight it has found new "world class size" gold deposits.

The London AIM listed Vatukoula Gold Mines PLC (VGM) said it would announce the find when trading began Monday.

A preliminary resource estimate published last week suggested the find holds US$3 billion (NZ$4.2 billion) worth of gold.

The Vatukoula mine is the middle of Fiji's main island of Viti Levu.

Operating since 1934 it was closed in December 2006 - the day of Commodore Voreqe Bainimarama's military coup - with South African headquartered owners Emperor Mines Ltd saying it was uneconomic.

Most of mine staff were laid off and it went through several new owners until taken over by VGM whose major owners are Canadian Zinc Corporation and Sprott Assett Management Inc.

VGM's share price has recently soared on speculation of a major gold find.

http://www.tradingmarkets.com/news/stock-alert/vatkf_dj-vatukoula-gold-mines-to-say-more-gold-found-in-fiji-report-723360.html

LONDON, Jan 24, 2010 (Dow Jones Commodities News Select via Comtex) --

U.K.-listed mining company Vatukoula Gold Mines PLC (VGM.LN) is expected to announce Monday that it has found more gold at its existing gold mine on the Asia-Pacific island of Fiji, The Independent on Sunday reports without citing sources.

David Paxton, the company's chief executive, is expected to announce Monday that the company has drilled new holes in the area where its existing Fijian mine is located and struck gold each time, the newspaper reported.

The Fijian mine produces 40,000 troy ounces of gold a year and is seeking to expand the mine, the newspaper reported.

Newspaper Web site: www.independent.co.uk

-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320

(END) Dow Jones Newswires

The following image is from PEN's website:

If the find is as big as stated then PEN's tenement shares the same corridor so maybe a nice surprise instal for holders :)

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http://www.peninsulaminerals.com.au/projects/raki_raki_gold_project__fiji__peninsula_minerals_50__.phtml