Vango holds 317 km2, or 31700 hectares, of mining claims. Pretty obvious Vango's sole corporate reason for being is to sit on them, hoping someone will need them enough to buy them for more than Vango paid for them.
Here's what Vango 'forgot' to tell you. Western Australia has a vested interest in seeing those claims actually put to use. You need to pay $22/hectare/year rent, and spend $100/hectare/year developing those claims, or you lose them. That's nearly $4 million/year you've got to raise.
In the meantime, reality is that Superior is on a documented solid growth path that would continue if Vango and it's tenements vanished tomorrow. You have no one 'over a barrel'. The strategy didn't work and, judging by the share price continually setting new lows, most of the market has figured that out.
VAN Price at posting:
3.4¢ Sentiment: Sell Disclosure: Not Held
