Ann: Vital Proceeds with Bouli Gold Project Earn-In, page-24

Why buy small cap stocks?

stocks that have good re-rating potential = buy massively undervalued stocks



“The upside at the Bouli project looks fantastic with high-grade gold at Bella Tondi, and our new aeromagnetic data looks to have opened a veritable Aladdin’s cave of targets with the new structural interpretation identifying more than 20 targets having a combined strike length of
over 20km.”

 Visible gold identified in core sample from drill hole BTRD004 under the emerging high-grade gold zone at Bella Tondi prospect

 Core samples taken from the first three diamond tail holes awaiting assay in Ouagadougou

 Interpretation of airborne magnetic data identifies multiple targets with favourable structural settings supported by historic geochemical sampling over 20km of strike

 Positive cyanide leach testing of 50 RC samples indicates gold at Bella Tondi is free milling and should be amenable to conventional cyanide leach

 Diamond drill rig continues drill testing high-grade zone at Bella Tondi, with five more holes planned

$ We could end up with majority interest of 80% and Gov holding the rest- Summa takes a 2.5% royalty

$ There is so much potential down the road in terms of commercialisation of Bella Tondi, we are only 25km away from toll treating option.

$ Mark believes that they have found the Alladins cave - Bella Tondi


VML:  MC 17M, Cash 18M, EV -1M

Value for gold assets = nil
Value for cobalt = nil

Near term re-rating potential = Yes

Should be at least EV of 20M right now and if they keep finding high grades = fair EV would be 40M+ (with interest of 80%)


IMO DYOR