VAN vango mining limited

five points of concern, page-4

  1. 13,316 Posts.
    lightbulb Created with Sketch. 168
    What gets me is if you look at reasons for DAU's decision per the extract below from their ASX release on this to farm out Placer Dome is the same very challenges ORD will have to fund the development. What am I missing?
    -------------------------------------------

    Over the last twelve months we have continued to enhance our knowledge of the
    Plutonic Dome undertaking significant soil geochemical surveys and modest levels of
    drilling. The major advance for the year was the development and initial evaluation of a
    cutting edge 3D prospectivity model for the whole belt integrating all the available
    geological, geophysical and geochemical information, including the Barrick Plutonic
    database. Analysis of the characteristics of known local deposits with similar untested or
    inadequately tested geological settings has defined several high priority new target
    zones with the potential to act as traps to host large mineralised systems. Adequate
    testing of these zones will require significant financial resources.

    So, the challenge we face with our ground is that the near surface large targets have
    been tested and the deeper targets are expensive to evaluate. We also have an annual
    expenditure commitment of in excess of $3 million to keep our ground in good standing.
    Meeting this funding commitment, without unduly diluting the interests of our
    shareholders is a major challenge for a junior resource company in these times.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.