Ann: Board Change, page-69

Hi @Jadis Maybe everyone should of included ( In Hindsight ) its was obvious , anyway all means nothing if the deal turns to custard.

You are correct , I've never mentioned in any of my posts that I thought JB would leave , did I believe he was going to leave once the deal was done , yes that was always my understanding and personal opinion that I have shared in private. Its not my place to spread rumours on HC , especially when its about a well liked company Director and in reality its only a guess / opinion.

My thought process behind JB leaving was very simple , and once the new board members got announced it became ( obvious ) even if still just a guess !

Jason Brewer cant bring anything to the table now , his job is done. I would I've been disappointed if he had stayed just so he could claim a wage and stand of a soapbox proclaiming his greatness about the Massive Adidi-Kanga Deal ( Yet Proven ) by the way !

VEC has no use for Jason Brewer , and Jason Brewer has no reason to stay with VEC , he has other plays that require his attention !

Do I think after nearly 3 Years Brewer will dump shares , no I don't , I would imagine he would want a massive payday like so many other LT VEC shareholders ( Myself Included ) The man has walked the ground , seen 178km's of drill results , a existing DFS and has had over the last 3 Years to understand what is in the ground. With the help of Guy Robert , I'm sure he's seen the lot !

These are in my opinion the best announcement I've seen for VEC over the last 12 Months , in ( Hindsight ) yes it all seems obvious to me now


Andrew Steers VEC's ( CFO ) Chief Financial Officer , its Andrews past employment ( As Below ) history that makes it interesting.

Group Finance Manager Company (Moto Goldmines)
Dates Employed Aug 2007 – Nov 2009
Moto Goldmines held one of the biggest and most prospective gold projects in the world, in the Democratic Republic of Congo.

As the Group Finance Manager, I worked hand in hand with the Finance Director on both our operational, financial and legal issues. The team both in Perth and in-country we rebuilt and refocused to enable Moto to transition from an explorer to producer. In-country finance and legal issues remained a significant challenge for our team, as did our international tax structure and legacy issues.

As a single asset company, operating in the DRC, we were subject to significant corporate review by a number of African gold producers. This culminated in 2009 with the takeover offer from Redback Mining, which was then further enhanced by a subsequent offer from Randgold Resources. The C$455m deal with (Randgold / AngloGold Ashanti ) was finalized in October 2009 and the Perth office quickly closed

So Andrew Steers ( Now VEC's CFO ) was a key Player in getting the $455mill (Randgold / AngloGold Ashanti) deal across the line , the very same mine ( As Below ) we know as Kibali , the DRC's biggest Gold mine !
AngloGold, Randgold team up in $488m bid for Moto
http://www.miningweekly.com/article/anglogold-randgold-team-up-to-bid-for-moto-2009-07-16

Now lets keep going the dots and throw Guy Robert into the mix !

Guy Robert Lukama (VEC's JV partner on Adidi-Kanga Gold project)
Managing Director chez Mongbwalu Gold Mine ( Executive Director Fimosa Capital ) VEC's JV partner on Adidi-Kanga Gold project
1: Between 2005 and 2013, AngloGold Ashanti spent US$500mill++ on Adidi-Kanga

2: Guy Robert ( VEC JV Partner Fimosa ) was Managing Director of ( AngloGold Astani DRC ) 2006 to 2014

3: Guy Robert ( VEC JV Partner Fimosa ) was Executive Director of ( AngloGold Astani DRC ) 2014 to 2015
https://hotcopper.com.au/posts/37122129/single

Now lets keep going the dots and throw Mr llunga into the mix !

1: Present Non Executive Director Mongbwalu Gold Mines ( Adidi-Kanga )

2: Ex Vice President - Transformations ( Heading the Anglogold Ashanti Ghana Turnaround Team )

3: Ex Financial Manager (AngloGold Ashanti Mali)
Responsibilities:
Management of the Procurement Function
Overseeing the Financial Internal Control System, including SOX (Sarbanes-Oxley) Compliance
Compilation of Monthly Management Accounts
Management of the Company’s Business Planning and Budgeting Process
Ensuring Tax Compliance
Management of the Administration Function


It really just keeps getting better ( Experience Wise ) VEC appointments can not be faulted

1: Andrew Steers helps negotiate sale between Moto Gold Mines And Randgold/ AngloGold Ashanti ( $455mill) now know as the Kibali Gold Mine

2: Guy Robert Managing Director of AngloGold Ashanti DRC 2006 to 2015 ( Now VEC's JV partner) and also a new appointee to the VEC Board of directors.

3: Mr llunga Vic President Transformation / Financial Manger (AngloGold Ashanti 2009/ 2012 ) and also a new appointee to the VEC Board of directors.

It looks like everyone has worked with the other in one capacity or another , and everyone has a very in-depth knowledge of Kibali and Adidi-Kanga Gold Projects. Between these guys they have overseen ( Or been part off ) Billion's in Mine sales and Development activities in the DRC Gold industry ( Mostly ) Kibali and Adidi-Kanga


Ps. I will agree most here on the timing , that got me by surprise , I thought he would announce the deal finalisation then tender his resignation on the same or coming days ! I see JB is back in the DRC and South Africa going hard , so I'm thinking the delays have just called is bluff, and his decision to resign had to be moved forward. Like I said , theres a couple of other plays out there that need some real love and attention.