Ann: Update - Proposed issue of securities - VTX, page-2

From what I could see from the two announcements, they have altered the date the share purchase plan kicks off from 19 May - obviously didn't happen - to next Monday, 26 May with it running all the way through to 4 July (my guess is they will be swamped by bids long before the closing date, even if the share price drops to down around the bid price). I will be interested to see if they reserve the right to shut down the bidding at an earlier time of their choosing.

You still would have had to have held some VTX shares as of 9 May to participate in the SPP. They will be offering parcels from $1,000 up to $15,000 ($1,000, $2,500, $5,000, $7,500, $10,000, $15,000) at 21 cents a pop. They are going to hold a shareholders' meeting on 20 June to seek approval for the oppies - maybe some people thinking of bidding will wait for this but again that approval should be a shoe-in I'd expect. For every 3 heads shareholders buy in the SPP they get one fairly short duration option, needing to be exercised by 6 July next year (from memory the exercise price is only 26 cents which seems a very low hurdle).

I see they have also replaced their company secretary, not sure whether the stumble getting the SPP set up right was a factor in that decision or just a coincidence. The new guy, Ian Morgan, has held down similar gigs at some other ASX listed resources companies, a couple of coal miners amongst them (as you'd probably expect in NSW, lots of coal not so much gold, but the ASX rules are the same). So new contract CFO's and now a new company secretary. Roger and the team seem to be getting the below the decks shipshape ready for the voyage ahead. All they need to do now is prove they can produce gold and print cash...