being gold producer soon just 95m shares!

VANGO RELEASES HIGHLY POSITIVE DFS UPGRADE
As at 14 Feb 2017

Gold exploration and development company Vango Mining Limited (ASX: VAN) (Vango, the
Company) is pleased to announce positive results from a recently completed upgraded Definitive
Feasibility Study (DFS) on its K2 Deposit within the wider 100%-owned Plutonic Dome Gold Project, in
the Mid West region of Western Australia.
The upgraded DFS updates commodity prices and exchange rates from a previous DFS update (ASX
announcement 8 October 2014) to current values, as at February 2017, as well as mining costs. The
original DFS was released 1 July 2014.
All other components of the DFS remain unchanged from the previous DFS update of October 2014.
This DFS upgrade is intended to be read in conjunction with the 2014 DFS and 2014 DFS Update.
Highlights
The results of the upgraded DFS are highly positive, and further strengthen the economic robustness
of the K2 Deposit. Headline results include;
• The Project’s pre-tax NPV has increased to $19.02 million from $14.87 million in the previous
DFS update of October 2014;
• Project’s IRR is 382.07%, up from 229% in the October 2014 DFS update;
• Pre-production Capital costs are estimated at $6.4 million;
• All-In Sustaining Unit Cost of Production indicates a project margin of approximately $462/oz;
• The Project will generate total free cashflows of $22.66 million over an initial two year mine
life, compared to $18.22 million in the October 2014 DFS update; and
• Project margin of approximately $462 per ounce and Payback period is just 13 months.
Total mined tonnes of 245,214t and head grade of 6.91 g/t gold remain unchanged, and the
upgraded DFS does not contemplate additional potential Resources that may be delineated in
Vango’s 2017 drilling programs. Details of the outcomes of the upgraded DFS are included in this
announcement.
DFS Background
The K2 DFS assessed the economic viability of underground mining methods to extract ore from the
K2 Deposit with toll treatment of ore at the nearby Plutonic Processing Plant, which is owned by
Billabong Gold Pty Ltd (Billabong). Vango has a binding Ore Treatment Agreement with Billabong to
facilitate the processing of ore from K2 (ASX announcement 24 September 2014).
The DFS, DFS 2014 update and this upgraded DFS were undertaken by leading engineering and
services group, Entech Pty Ltd (Entech), with input from various industry consultan.

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Now DAU SP is nearly just 1/2 of VAN, the number of shares on issue is just 1/4 of VAN!
VAN has 4m debt and owe DAU $6m royalty,plus DAU has 3M cash, market is totally blind in DAU case! the "8 times " difference" will be recovered with the mine into production. Compared with VAN, DAU is obviously 8baggers trading target from now on! Good luck!