Ann: Extension of Voluntary Suspension, page-58

Yes they Have managed what I believe many other management teams wouldn’t have, first things first they have managed to get this deal to such an advanced stage, securing US $20million from London Gold, securing a further US $35 million from dubai. This is one of the hardest tasks as you have to both convince and secure finance for a deal in which you don’t actually have the keys to yet.

Management successfully convinced GR (the vendor) that Vector both has the team and experience to Advance the project.

Management have been able to acquire a world class project as a junior miner, something of this scale rarely occurs.

They have been able to get all parties, vendors, government bodies (Sokimo) support to back Vector into the project. I can assure you this is no easy task, in a country which has a name for bribery and the likes, they have done extremely well to get the deal across the line legally and successfully.

Management have been able to secure both ex Anglo execs on the board of Vector, the same parties who had a hand in AK before hand. DFS was completed by these parties. This is a master move.

I would also expect managements full hand will be laid out once the settlement process has been completed. As I am sure there are certain details which they cannot announce until this process has been completed.

Some forget we are acquiring a project which is so far advanced that once DFS is completed in say 6 months time a decision to mine will be made. On the other hand if we were requiring a block of dirt in which nothing has been completed, not even a drill had been inserted. This would be a much riskier play and would be minimum 5-10 years away from production, that’s even if resource was worth mining. Vector with this acquisition completed IMO will be 1-2 years away!

Hats off to management as it may have taken 15 months since we first knew of the project, but the key here is that it is so far advanced.

Don’t forget that bit


AIMO DYOR