4CE is a gold explorer in the DRC with 3 main gold projects
Jason Brewer as MD.
Love him or hate him he has brought a lot of value to his projects in 2017 and seems he will continue that theme into 2018.
Also a lot of impending news flow to keep the share price going in the right direction with ASX announcements and on the bird..
The 3 main projects are;
The Maniema Gold Project - acquired December 2016
- Currently 4,000m drilling program with assays expected shortly.
-7Mt @ 1.88g/t ag for 420,000 ounces of gold.
The Kibali South Gold Project - acquired 7th December 2017
- 28.1Mt at 1.63g/t gold for 1.47mil ounces of gold
- Plus tailings of up to 1.6mil ounces of gold @ 30g/t
The 3rd and latest acquisition is the reason I bought back in today. (and still trying to buy some more ha)
The Adidi-Kanga gold Mine - Acquired 21st December 2017
Some of the main points from the Adidi-Kanga Gold Mine, Thanks @apkjm
- 173,276m of diamond and RC drilling
- Completed a Feasibility Study for the development
- Commenced initial mine construction activities - 70% of Mining equipment on-site purchased at an estimated cost of US$70m
- Estimated 115 sea containers full of equipment - Existing indicated / inferred mineral resource of 11.9Mt at 7.65g/t gold for 2.9 million ounces, quoted under the SAMREC code
- Additional areas of mineralisation defined by previous wider spaced drilling
- 3 year debt facility of US$10.0m to part fund acquisition costs and additional exploration and Feasibility Study costs
- Already permitted for development - Environmental and Social Impact Assessments completed
- Financial guarantees in place with the appropriate regulatory and administrative bodies in the DRC.
- Over 3.5mill cash in bank ATM
- 173,276m of diamond and RC drilling! "It is anticipated that if no further drilling is required, the Company will be able to report a new JORC (2012) compliant resource by 31 March 2018 and if further drilling is required that this will be completed prior to 30 June 2018.
AngloGold Ashanti completed a Feasibility Study on the proposed development of the Adidi-Kanga Mine as
an open cut and underground."
70% of Mining equipment on-site purchased at an estimated cost of US$70m! "Development and construction activities commenced on site in 2012, with 70% of the mechanical equipment required for the first process module purchased and delivered to site and operations camp. This equipment, purchased at an estimated cost of US$70m, included crushers, ball mill, Knelson concentrator, compressors, mobile crusher, agitators and thickener, cyclone cluster, pumps, screens, carbon regeneration system, elution and electrowinning circuits, mobile mining equipment including LHDs, LVs, trucks, HMEs and lifting machinery, offices and prefabricated housing. This equipment currently remains at the Project site in the original containers."
- I know from personal experience how much of a b*tch it is getting the mining equipment on site for mines in Australia.
I can only imagine what it's like in the DRC!
$70mil worth of mining equipment on site should give VEC a $60-70mil MC alone.
Also shows how close Anglo Gold Ashanti were to mining this prospect!
- Environmental and Social Impact Assessments completed "In addition, Environmental and Social Impact Assessments were also completed and approved for the proposed mine development."
- Speaks for itself, Adidi-Kanga Gold Mine is ready to start mining now!
And also there is this... "As a result of this review, the Company has established an Exploration Target for the Project in addition to the SAMREC Mineral Resource for the Project of between 16Mt and 27Mt at an average grade range of 4.7g/t to 7.8g/t of gold for 4.7Mozs to 6.8Mozs of contained gold (“Exploration Target”) in a zone extending up to 4km along strike with multiple shallow dipping veins and 400-600m in width."
"Under the terms of the HOA, Vector will finalise legal, technical and financial due diligence by 15 January 2018 and execute new joint venture documentation"
Jason Brewer in the DRC now, to execute new joint venture documentation
There are obvious risks to investing in the DRC so only invest/trade what you are comfortable with.
Also a question I asked myself is why didn't AngloGold Ashanti ($4.3billion MC) follow through with the project??
The only reason I can see why AngloGold Ashanti didn't follow through was that the price of gold was at some of it's lowest levels and they were building Africa's largest gold mine ($2.5Billion) so I imagine there were cost blow out there and couldn't afford/risk building another gold project whilst gold was trending down so low.
I believe VEC is heavily undervalued.
I'm also not expecting a rocket ship to the moon tomorrow but a genuine re-rating for this "soon to be gold producer."
IMO this seems like a very good Short - Medium & Long term hold with the information known.
VEC Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
