A great announcement by the Co - The news we've been waiting for is here
We should see a succession of announcements follow to reinvigorate interest in what many may think has been a 'quiet' stock these last couple of months. But far from it, a lot of work has been going on behind the scenes.
The Highlights:
* Electricity will commissioned in the next TWO DAYS at the newly redeveloped Wedderburn Project (75km from Bendigo)
* The drive is anticipated to intersect the high grade gold mineralisation in the next TWO WEEKS
* Over 100 tonnes of low-grade material has already been stockpiled since listing
* The newly re-timbered shaft at the Sheep's Head Project (10km from Bendigo) is expected to intersect the mineralised quartz reef in the next EIGHT DAYS
* The Victoria reef (Bright Project) was historically mined at a grade exceeding one ounce per tonne!!
* VGM is keen to develop and expand the Bright project area and will keep shareholders informed as results come to hand. The Bright lease already contains a concentrate plant which may be repaired and commissioned...
* VGM own one fixed gold processing plant and has an option over one mobile processing plant. These guys are ready to deliver results
* Despite the full schedule of work carried out (as shown above), VGM is still well placed with $1.9m cash in bank
Looking forward to seeing the story unfold, and according to the announcement we don't have long to wait. There aren't that many shares on issue at all and this is a very tightly held stock so I'm glad I got in at the float level and acquired more at current levels
Don't forget, the loyalty options will ofcourse be issued soon and that will load an additional spring under the shareprice.
An exciting couple of months coming up!
VGM Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
