Im starting to join the dots here now , VEC's management team is by design ( Not Mistake )
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
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The US$2.5bill Kibali Gold Mine ( Steers Helped Negotiate Sale)
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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
Now I wait to see what I don't know about Adidi-Kanga , I can only imagine what these guys know that we are not privy to ATM
Im hoping that all changes after the settlement ( Monday ) Fingers crossed !
Adidi-Kanga ( Photos ) not as flash looking as kibali , but they have spent UDS$2.5bill more than us
Lol
Check the Core Sample Trays middle of photo ( Amazing ) Guy Robert ( VEC Board ) overseen US$500mill on Adid-Kanga , a big part of that in the below 17km's of core samples.
View attachment 1434623
Simon Youds ( CEO ) and Peter Stockman ( Chief Geo ) reviewing drill core samples from the Adidi-Kanga Gold Mine, all 17 Kilometres of them
View attachment 1434627
View attachment 1434637
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Now remember , VEC ( Adidi-Kanga ) has over 17 kilometes of Diamond and RC drilling completed (173,276m) Everything documented and in the hands of (VEC's ) Geologists for the last 8 Months.
As Quoted by Simon Youds at the AGM.
A:
However in other parts of the license and still very close to this area there is drilling on a 100m and 200m still spacing and in areas which are not included in the current 3.2Moz JORC 2012 indicated and inferred resource.
https://hotcopper.com.au/posts/36716339/single
https://hotcopper.com.au/posts/37160277/single
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Simon Youds Quote: As part of the work VEC has been doing over the past several months, their resource geologist has been going through the drill and geological database in much much more detail.
Based on this review VEC will be looking (very quickly after the acquisition is completed) to release an updated Exploration Target based on this review, to give it's shareholders a broader indication of the overall size of the gold potential on the Adidi-Kanga license
Wow
Lol , I lost track again ! Hopefully you can see were i'm coming from, New World Class Management Team and just maybe a New World Class Deposit from unreported results.
Settlement required first , or we don't have squat !
