Originally posted by Big Kahuna 101
In the paragraph you posted they mentioned 2 other uses for it including general working capital which could be anything.
once they have raised the funds they can literally use it for anything... I wonder when Virgin Galactic are going to the moon? Perhaps JB will look to do some DD up there.
With $60k in the bank the raise will be happening soon, It’s just a matter of what price.... 3c and above I will be content... 5c and above and I will be estatic.
Yes I agree, but then there is this declared intent for March quarter that needs working capital......
”
The Company has concentrated all resources and efforts on the completion of the Adidi-Kanga Gold Project Acquisition during the quarter. Negotiations with SOKIMO did not progress during the quarter to finalise the outstanding commercial terms for the potential acquisition of the Kibali South and Nizi Gold Projects located in the Ituri and Kilo Provinces in north-eastern DRC (ASX Announcement 7 December 2017).As the Company has already completed its technical and legal due diligence and the Company is proposing to re-establish the negotiations in the March 2019 quarter. During the Quarter, the Company continued to advance its exploration activities at its 70% owned Maniema Gold Project”
Somehow I don’t think jumping on the Virgin Atlantic to the moon is what JB has in mind.
VEC is clearly looking to advance hard on the other projects too now that A-K is a lock and we have a project leader in our friend ex-AngloGoldAshanti Project Director Guy Robert Lukama on the board to take over delivering Adidi-Kanga.
