Without Adidi-Kanga VEC was stuffed , blind Freddy can see something went wrong with FT settling the deal on time so management had to dance with the devil ( Magna Finance ) to settle deal and get control of the asset. And with the existing JORC and resource upgrade I can see why they fought so hard !
Vector Resources CEO, Simon Youds
This new Exploration Target clearly points to the fact that Vector is sitting on a huge mineralised system within PE5105 that will eclipse the current 3.2Moz Adidi-Kanga deposit
Current JORC 3.2 Moz Au at 6.6g/t
Exploration Target 3.8g/t Au for 12.5Moz to 117Mt @ 6.7g/t Au for a combined 25.2Moz
Total Combined JORC / Exploration 15.2Milloz to 28.4Milloz at 6.6g/t
Those are simply amazing numbers , approved and released by the ASX ( Backed up by existing
AngloGold Data ) so don't believe all that ( Fluff BS) some try to spin , the ASX is tougher than ever
VEC management gave themselves a 90 day window to either reinstate FT deal or find another finance avenue , then intern pay out Magna. Now Adidi-Kanga has settled , I would think the Finance options and terms have improved 5 fold in VEC's favour.
Ps. DFS another Week down JORC / Exploration 15.2Milloz to 28.4Milloz at 6.6g/t
VEC Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
