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21/10/17
14:19
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Originally posted by jas626
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as much as I like VEC and there potential I think its time they get a move on and start achieving some tangible results if I'm to be critical, I know they are a small company but if they have expectations to being a major player in the DRC space they will need to start delivering imho.
they were meant to start drilling on the 5th of September, in the last update on the 29th/9/2017
looks like they have not even started drilling yet by going off this?
As previously announced by the Company (refer ASX Announcements dated 21 August 2017 and 30 August 2017), African Drilling Limited (“ADL”) are currently finalising the last stages of mobilisation to the Maniema Gold Project to commence an in-fill and extensional diamond drilling program at the Kabotshome Gold Prospect . Based on the current mapping and sampling activities at the Mitunda Gold Prospect, Vectors recently announced gold discoveries at the Eveche and Lukele Gold Prospects and the expected arrival of the ADL diamond drill rig, presents the opportunity for the Company to fast-track its geological understanding of these prospects by identifying and progressing further drilling targets
as for the Acquisition, there been saying there going to acquire a major project from as early of April this year its now October, that's 6 month wait, about time they deliver it imo.
looking at the annual report there starting to also run low on cash with only 380k left not sure if this includes the last CR or not but even so the drilling will be draining the cash a bit if there started yet, and they have - $ 227k in payables to come out of this.
so a CR will be coming soon, hopefully they announce the acquisition first let the SP run a bit then announce the CR some time after, and maybe get a CR around 2c, if not at the current SP it would be a raise around the 1c mark, not trying to down ramp as I have the amount of shares I'm looking to hold here and not after any more, just keeping it real and discussing my thoughts.
I know Jason brewer has a major stake in VEC but going by his twitter page he seems a lot more interested in 4ce and the lithium space rather than VEC and gold, I'm happy to hold and hopefully the acquisition is just around the corner but if im to be honest the cash situation and lack of progress is a little worrying to me.
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none of this is really new since you got in a few weeks back. A few weeks on and now everything is taking too long...?
Don't think they've ever put timeframes on the acquisitions, so while we all would like it to come yesterday, we'll just have to wait till it's ready, if it does gets done.
Hope you don't take this post the wrong way, but you go from super excited one day to Critical the next