If you read the previous ANN carefully dated 11 Jan, the reasoning for the trading halt and ANN due Monday 4th Feb IMO will be to confirm that the following has been completed;
"Financial settlement of the Acquisition proceeding, with Tranche 1 (US$5m) share issuance to Mongbwalu Goldfields Investment Limited underway and an initial US$10m drawdown of loan funds under the $US35 million FT debt facility to pay the Tranche 1 (US$5m) acquisition payment and the fund US$5m of initial costs associated with Company's immediate commencement of activities on site and on the Definitive Feasibility Study".
As noted above the financial settlement was proceeding, however not completed. Once the above is confirmed, I would expect the company to provide an update on the commencement of activities on site, the DFS and a potential large resource upgrade. AIMO.
Things are really starting to heat up!!!
VEC Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
