Vector Resources (ASX:VEC) is a gold exploration & development company focussed on the world class Adidi-Kanga gold project in the Democratic Republic of Congo.
$VEC CEO Simon Youds on the exploration target at #AdidiKanga:
"This a conservative target based on actual drilling & other sample data (channel samples) plus the remote sensing work that #AngloGoldAshanti had done between 2005 & 2012." #mining#gold https://t.co/MJTWEirmkU
"The opportunity to get out on the ground & have a look at ~$70m worth of equipment is the first point - that's in parallel with the DFS which we have already started work on." #AdidiKanga#mining#business#investment#InvestorStream https://t.co/bzQMuZhjjY
"This loan facility has provided a short-term solution to achieve an extremely important & high value accretive outcome for our shareholders." #AdidiKanga#mining#business#investment#InvestorStream $VEC
https://t.co/eWq6WOVPmV
$VEC CEO Simon Youds on the new technical team:
"We have a very experienced & diverse team from the #gold majors. The ability to put this team together is testament to the quality of this asset."
#AdidiKanga#mining#business#investment#InvestorStream https://t.co/eWq6WPdqLv
"This is a transformational development for the business. It now allows us to go full throttle on our development strategy for what we believe to be a potential Tier-1 #gold#mine." #AdidiKanga $VEC #DRCongo#investment#InvestorStream https://t.co/eWq6WOVPmV
Committed funding secured by $VEC to be used for Adidi-Kanga Gold Project. US$5m for up-front acquisition, US$10m for DFS and project costs and US$20m available on finalisation of the DFS and a positive decision to mine the Adidi-Kanga Project. https://t.co/6kEzfAjTyk
The $VEC Board has accepted US$35m of committed funding to be used to fund the Adidi-Kanga Gold Project acquisition, costs to complete an updated Definitive Feasibility Study and to fund potential future development activities upon a "Decision to Mine" https://t.co/6kEzfAjTyk
Results of shareholders meeting held today. All resolutions passed, including all those associated with $VEC proposed acquisition of the world-class Adidi-Kanga Gold Mine. https://t.co/3M1n3VBV5h
Today's update on Adidi-Kanga Gold Mine acquisition confirms US$20m Committed Debt Facility executed and $VEC is reviewing competing funding proposals of up to US$35m to fund acquisition costs, DFS and some initial project development costs.
https://t.co/cKzVYapUik