Hansel, I think you’re much closer than you think. From the link...

Hansel, I think you’re much closer than you think.

From the link you posted search for the string “4. Sale of Subsidiary”. Then read that entire section as its very interesting (assuming one finds Vanmag interesting).

Actually, it’s well worth finding the time to read through the entire document to the link you provided. I’m not sure how much faith I’d put in Pinnacle Resources integrity, but they do seem to give us a lot more background than Conti have over time. See also Section 9 – Discontinued Operations.


Then you can consider some of the following …

Golden Falls Trading 565 (Pty) Ltd looks like it was registered on 26/10/2006. Its registration id was 2006/033595/07. To confirm see p83 of the following link
http://www.info.gov.za/view/DownloadFileAction?id=61914

Golden Falls Trading 565 (Pty) Ltd is a private company and finding information about them is much harder.

Although, if you use the find facility within this article http://www.secinfo.com/duV3u.s24.d.htm
and then search for the string “8.1.1.4” you’ll find a contact person for Golden Falls who may be of interest.

With that contact person’s name you might be able to determine some other possible associations. To me it looks like someone didn't go to too much trouble to help the auditors find out more in relation to unresolved matters in the 2009 & 2010 accounts.

As for facilitation fees on Vanmag, there was quite a hefty one paid. As per the following ASX Release http://www.asx.com.au/asxpdf/20081001/pdf/31cn465wgv2kn8.pdf

Vanmag is mentioned in numerous places in the above link, but p30 of the .pdf outlines the following …

On 22 October 2007 shareholders approved the issue of 15m ordinary fully paid shares for nil consideration for the facilitation and introduction of the acquisition of a 50% interest in the vanmag project. (with the option to move to 74% interest).

So 15m ordinary shares were issued for nil consideration at a nominal value of $2,450,000 as approved by shareholders.

Anyway, maybe some of this info will fill in a few gaps or give you some new avenues to explore in relation to the vanmag puzzle.