Shares on issue 69.2M, cash estimated at $5.0M as at 30/6/11, 500,000 oz gold at 1.2g/t in the Ashanti Gold Belt in Ghana and looking to double to 1M oz..........Two of the biggest gold deposits in the world Obuasi and Tarkwa are located in this area.
Directors have a strong track record of success in both exploration and mine development including Chairman John Gardner who is a founding director of Mincor. From their website: "As a Director and General Manager of Minproc Engineers he was responsible for design and construction of gold and base metal plants. He established Minproc in Ghana where they became the leading Mining Project Engineers. He completed many project feasibility studies including geology, resources, mine plans and process plant. When he left the company they had built more than 60 gold treatment plants".
Resolute is a cornerstone shareholder.
An updated resource estimate is due also now.
A broker report dated Jan 2011 (see website) considered that the 1M oz target would be easily achieved in the next 9-12 months. In that case, VKA is on the launch pad already.
They will be presenting at the Africa Downunder Conference in Perth in September 2011.
VKA Price at posting:
15.8¢ Sentiment: Buy Disclosure: Held
