Proactiveinvestors Australia Vector Resources Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Vector Resources Ltd RSS feed en Fri, 18 Jan 2019 18:39:18 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Vector Resources acquires majority stake in Adidi-Kanga Gold Project ]]> https://www.proactiveinvestors.com.au/companies/news/212371/vector-resources-acquires-majority-stake-in-adidi-kanga-gold-project-212371.html Vector Resources Ltd (ASX:VEC) has acquired a 60% interest in the world-class Adidi-Kanga Gold Project in the Ituri Province of the Democratic Republic of Congo.

All necessary joint venture documentation and related agreements and approvals have now been received and executed by all parties.

A debt funding of up to US$35 million will be provided by FT General Trading LLC to be used for the acquisition, development and working capital costs associated with the project.

Commencing site development and definitive feasibility study

The financial settlement of the acquisition is proceeding, with the Tranche 1 (US$5 million) share issuance to Mongbwalu Goldfields Investment Limited underway.

An initial US$10 million drawdown of loan funds under the US$35 million FT debt facility will be used to pay the Tranche 1 (US$5 million) acquisition payment and fund US$5 million of initial costs associated with the immediate commencement of activities on site and on the definitive feasibility study.

The Adidi-Kanga Gold Mine has a JORC resource of 15 million tonnes at 6.6 g/t gold for 3.2 million ounces of contained gold.

Aiming to be one of Africa’s top gold producers

Previous work completed by AngloGold Ashanti Limited (JSE:ANG), who between 2005 and 2013 expended over US$520 million on exploration and development activities, includes 173,276 metres of drilling and completion of a feasibility study.

AngloGold commenced initial mine construction activities with the purchase and delivery to site of 70% of the mechanical equipment proposed to be installed under the feasibility study.

Vector chairman Gary Castledine said: “The completion of this acquisition and the associated debt funding has been an exhaustive process for the company, but one well worth the wait and provides the platform for Vector to make the transition into one of Africa’s top gold producers.

“With an aggressive development strategy mapped out, the team is now eager to focus its resources on completion of the DFS and on undertaking further exploration across the Adidi-Kanga Gold Project area to fully realise the potential that we believe exists.”

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Fri, 11 Jan 2019 17:32:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212371/vector-resources-acquires-majority-stake-in-adidi-kanga-gold-project-212371.html
<![CDATA[News - Vector Resources seeks gold project in Democratic Republic of Congo ]]> https://www.proactiveinvestors.com.au/companies/news/189209/vector-resources-seeks-gold-project-in-democratic-republic-of-congo-189209.html Vector Resources Limited (ASX:VEC) is seeking to establish a new joint venture to develop the Adidi-Kanga Gold Mine in the Democratic Republic of Congo.

The company has signed a Heads of Agreement with Fimosa Capital Limited and Mongbwalu Gold Mines SA to obtain a 60% interest in the project.

Vector is well advanced with legal and technical due diligence and anticipates completing this before the end of January 2018.

Aim to complete definitive feasibility study

The aim of the new joint venture would be to complete a definitive feasibility study in 2018 for the development of the project and start of mining.

The project is owned by Congolese company Mongbwalu Gold Mines, which is a joint venture between Fimosa Capital and Société Minière de Kilo Moto (SOKIMO).

Adidi-Kanga has been subject to significant exploration, feasibility study work and development activities by AngloGold Ashanti (ASX:AGG) between 2005 and 2013.

The project is circa 130 kilometres southeast of Vector’s proposed joint ventures with SOKIMO on the Kibali South Gold Project and also 43 kilometres from the Nizi Gold Project.

In the DRC Vector also has the Maniema Gold Project, which includes the Kabotshome prospect, which has an inferred resource of circa 7 million tonnes at 1.9 g/t for 421,000 ounces of gold.

READ: Vector Resources discovers new gold prospect at the Maniema Project

The company recently discovered a new prospect, Lukele, which is 700 metres west of Kabotshome.

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Fri, 22 Dec 2017 11:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189209/vector-resources-seeks-gold-project-in-democratic-republic-of-congo-189209.html
<![CDATA[News - Vector Resources pounces on new asset ]]> https://www.proactiveinvestors.com.au/companies/news/188917/vector-resources-pounces-on-new-asset-188917.html Vector Resources Ltd (ASX:VEC) is preparing to reveal details of a project acquisition, and the ASX has granted a trading halt to prepare.

Vector recently signed two binding agreements with Société Minière de Kilo Moto under which the company will now finalise its due diligence and key terms for joint ventures to be established for the exploration and development of the Kibali South and Nizi Gold Projects.

The projects are located in north-eastern Democratic Republic of Congo.

The halt will remain in place until the opening of trade on Wednesday 20th December 2017, or earlier if an announcement is made to the market.

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Mon, 18 Dec 2017 13:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188917/vector-resources-pounces-on-new-asset-188917.html
<![CDATA[News - Vector Resources to acquire project and enter alliance ]]> https://www.proactiveinvestors.com.au/companies/news/188226/vector-resources-to-acquire-project-and-enter-alliance-188226.html Vector Resources Ltd (ASX:VEC) is entering a transitional period and is preparing to reveal details of a project acquisition and strategic alliance agreement.

During recent months the Vector team has been in the DRC undertaking site visits, technical due diligence and detailed negotiations.

The DRC is well known for its cobalt riches.

Vector shares are currently in pre-open following the ASX granting a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 7th December 2017, or earlier if an announcement is made to the market.

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Tue, 05 Dec 2017 09:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188226/vector-resources-to-acquire-project-and-enter-alliance-188226.html
<![CDATA[News - Vector Resources discovers new gold prospect at the Maniema Project ]]> https://www.proactiveinvestors.com.au/companies/news/184867/vector-resources-discovers-new-gold-prospect-at-the-maniema-project-184867.html Vector Resources Limited (ASX:VEC) has made a new gold discovery, the Lukele gold prospect, at its Maniema gold project located in the Democratic Republic of Congo (DRC).

The prospect is situated 700 metres to the west of Vector’s main Kabotshome gold prospect, which has an inferred resource of circa 7 million tonnes at 1.9 g/t gold for 421,000 ounces of gold.

The early stage exploration activities at Lukele have commenced and includes work to improve the geological understanding by mapping exposures from artisanal mining activities.

It is worth noting that the surface artisanal mining activities at Lukele have already exposed weathered metasediments and numerous cross cutting vein structures.

Vector was able to observe gold nuggets from the weathered metasediments at Lukele using metal detectors.

The small gold nuggets were subsequently analysed using the precious metals x-ray fluorescence analyser at the Perth Mint.

Importantly, the results reported gold content of 94% and silver content of 2% (balance of 4% iron content).

These active artisanal surface activities further demonstrate the significant gold potential within the company’s Maniema Gold Project.

The Lukele prospect appears to be an early stage discovery and requires further detailed geological fieldwork.

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Mon, 02 Oct 2017 07:40:00 +1100 https://www.proactiveinvestors.com.au/companies/news/184867/vector-resources-discovers-new-gold-prospect-at-the-maniema-project-184867.html
<![CDATA[News - Vector Resources Ltd to lift bank balance for gold hunt ]]> https://www.proactiveinvestors.com.au/companies/news/180406/vector-resources-ltd-to-lift-bank-balance-for-gold-hunt-180406.html Vector Resources Ltd (ASX:VEC) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Vector is focused on the Maniema Gold Project, which is located in the Democratic Republic of Congo.

The halt will remain in place until the opening of trade on Monday 10th July 2017, or earlier if an announcement is made to the market.

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Thu, 06 Jul 2017 08:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180406/vector-resources-ltd-to-lift-bank-balance-for-gold-hunt-180406.html
<![CDATA[News - Vector Resources in an ASX trading halt pending update on 6 kilogram nugget ]]> https://www.proactiveinvestors.com.au/companies/news/179116/vector-resources-in-an-asx-trading-halt-pending-update-on-6-kilogram-nugget-179116.html Vector Resources (ASX:VEC) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Vector requested the halt pending an update on its announcement on 9th June 2017, outlining a 6 kilogram nugget discovered at the company's Mitunda Gold Prospect.

The halt will remain in place until the opening of trade on Thursday 15th June 2017, or earlier if an announcement is made to the market.

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Tue, 13 Jun 2017 13:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/179116/vector-resources-in-an-asx-trading-halt-pending-update-on-6-kilogram-nugget-179116.html
<![CDATA[News - Vector Resources posts maiden resource at Maniema gold project ]]> https://www.proactiveinvestors.com.au/companies/news/171696/vector-resources-posts-maiden-resource-at-maniema-gold-project-171696.html This resource is at the Kabotshome gold prospect, which is one of five prospects within the project, providing further opportunity for resource expansion.

The JORC resource was compiled following extensive review and verification of historical exploration work, geological database and certified sampling and test-work documentation.

Further detailed resource modelling and estimation work is ongoing at the Kabotshome prospect and is aimed at both increasing the resource size and upgrading the confidence levels.

Planning for the company’s first diamond and reverse circulation drilling program at the Maniema gold project is well advanced with drilling scheduled to commence this quarter.

With a current market cap of $15.7 million and a JORC resource of 421,000 ounces, Vector offers a compelling value proposition to investors.


Maniema gold project

The project is located in the Maniema province, 160 kilometres south of Kindu in east central Democratic Republic of Congo.

Maniema comprises seven granted exploitation licences, which cover an area of over 500 square kilometres.

The licenses contain five main prospects; Kabotshome, Mbutu, Mitunda, Mbala and Tubambo that have been defined within the project area from previous exploration.

The Kabotshome gold prospect is the most advanced.

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Tue, 17 Jan 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/171696/vector-resources-posts-maiden-resource-at-maniema-gold-project-171696.html
<![CDATA[News - Vector Resources tops ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/167260/vector-resources-tops-asx-gainers-intra-day-167260.html Vector Resources Ltd tops ASX % Gainers intra-day.

table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } Company Name Code Last Change Volume Vector Resources Ltd VEC $0.002 100.00 1,245,000 Inventis Ltd IVT $0.006 100.00 100,000 King River Copper Ltd KRC $0.011 57.14 1,950,539 Sundance Resources Ltd SDL $0.003 50.00 250,000 Chapmans Ltd CHP $0.003 50.00 516,668 Omni Market Tide Ltd OMT $0.015 36.36 90,289 Enterprise Metals Ltd ENT $0.018 28.57 600,000 Moreton Resources Ltd MRV $0.005 25.00 200,000 Red Metal Ltd RDM $0.115 19.79 2,263,437 First Graphite Ltd FGR $0.115 19.79 875,274

 

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Wed, 12 Oct 2016 12:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/167260/vector-resources-tops-asx-gainers-intra-day-167260.html
<![CDATA[News - Vector Resources Ltd seeks gold riches from project in Congo ]]> https://www.proactiveinvestors.com.au/companies/news/165851/vector-resources-ltd-seeks-gold-riches-from-project-in-congo-71011.html Vector Resources Ltd (ASX:VEC) has entered into an agreement to acquire a 70% interest in the Maniema Gold Project located in the Democratic Republic of Congo.

The Maniema Gold Project comprises seven granted exploration licenses which extend over an area in excess of 500 square kilometres of prospective ground.

The project is situated near Randgold Resources Ltd (LON:RRS) and AngloGold Ashanti Ltd’s (JSE:ANG) Kibali Gold Mine in the Kilo-Moto belt to the north.

Historical exploration including geophysics, soil sampling, trenching and drilling as well as historical mining and artisanal workings have identified five mineralised prospects at Maniema.

The most advanced prospect is Kabotshome, an alluvial mine site operated by the Belgians until the 1960’s and still actively exploited by artisanal miners.

Total of 17 diamond drill holes were drilled at Kabotshome in 2013, identifying over 800 metres strike length of gold mineralisation with grades of 1.5 to 2.5g/t gold, 15 to 25 metres wide.

Vector has determined an initial exploration target for Kabotshome of between 423,000 contained ounces of gold at 1.9 g/t gold and 603,000 contained ounces of gold at 2.5 g/t gold.

The total consideration for the transaction, if a decision to develop the project is taken, will be $950,000 in cash and 2 billion shares of Vector, plus additional royalty payments.

Vector will proceed with a $1.65 million rights Issue and share placement, to fund the acquisition and planned exploration activities at the Maniema Gold Project over the next 12 months.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 14 Sep 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165851/vector-resources-ltd-seeks-gold-riches-from-project-in-congo-71011.html
<![CDATA[News - Vector Resources Ltd to reveal acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/165793/vector-resources-ltd-to-reveal-acquisition-70956.html Vector Resources Ltd (ASX:VEC) has some acquisition news on the table, with the ASX granting the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Wednesday 14th September 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 12 Sep 2016 07:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165793/vector-resources-ltd-to-reveal-acquisition-70956.html
<![CDATA[News - Vector Resources, Sayona Mining among top ASX % Gainers intra-day ]]> https://www.proactiveinvestors.com.au/companies/news/163276/vector-resources-sayona-mining-among-top-asx-gainers-intra-day-63418.html Monday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume Sayona Mining ASX:SYA $0.052 188.9% 9,610,531 Black Ridge Mining ASX:BRD $0.002 100% 316,788 Pacifico Minerals ASX:PMY $0.024 84.6% 37,882,336 Emergent Resources ASX:EMG $0.018 63.6% 6,977,706 Vector Resources ASX:VEC $0.015 50% 575,000 Maximus Resources ASX:MXR $0.003 50% 300,000 Hawthorn Resources ASX:HAW $0.045 50% 100,000 Chapmans Limited ASX:CHP $0.004 33.3% 15,633,871 Marmota Energy ASX:MEU $0.013 30% 2,493,800 Astro Resources ASX:ARO $0.040 29% 114,527

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 13 Jul 2015 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163276/vector-resources-sayona-mining-among-top-asx-gainers-intra-day-63418.html
<![CDATA[News - Vector Resources processes ore from Western Australia gold project ]]> https://www.proactiveinvestors.com.au/companies/news/163275/vector-resources-processes-ore-from-western-australia-gold-project-55554.html Vector Resources (ASX:VEC) has started milling operations at its its Gwendolyn Gold Project in Western Australia as part of its Phase 1 operations.

The mill (ROM) ore pad has approximately 14,500 tonnes of ore ready for processing and road haulage will continue till the mine ROM stock is depleted.

It expects more than 30,000 tonnes of ore to be processed.

The bulk sampling will allow the company to obtain an understanding of the metallurgical characteristics of the deposit.

This information will enable it to reconcile material processed against the previous resource and reserve models and the intermediate processes such as grade control and in‐pit sampling.

That in turn will allow certain parameters to be developed for the remaining resources identified at Gwendolyn.

Gwendolyn consists of two tenements with historical gold mining from a shallow oxide pit to a depth of approximately 28 metres.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 11 Jun 2014 18:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163275/vector-resources-processes-ore-from-western-australia-gold-project-55554.html
<![CDATA[News - Vector Resources kicks off gold ore haulage from Gwendolyn, Western Australia ]]> https://www.proactiveinvestors.com.au/companies/news/163274/vector-resources-kicks-off-gold-ore-haulage-from-gwendolyn-western-australia-54947.html Vector Resources (ASX: VEC) has revealed that ore haulage has commenced on the bulk sample campaign at its Gwendolyn Gold Project in Western Australia.

The run of mine ore pad has approximately 24,391 tonnes of ore ready for haulage, and haulage operations are anticipated to continue uninterrupted until current stocks and the remaining in-situ ore are mined.

Road train haulage operations commenced today with an anticipated ramp up to eight road trains by next week.

Hampton Mining & Civil Services will carry out this work on a continuous 24 hour cycle until the mine ROM stockpile is depleted.

Haulage will be carried out from the mine site to the nearby Greenfields mill toll processing facility.

Vector previously secured a $3 million debt facility to fund the bulk sample campaign.

Gwendolyn has a Reserve of 27,964 tonnes at 5.68 grams per tonne for 5,106 ounces of contained gold within a broader Indicated Resource of 1,460,000 tonnes at 1.74g/t, or 81,657 ounces of gold.

Past drilling results by Vector have included 11 metres at 49.48g/t gold from 10 metres, inclusive of 1 metre at 114.50 g/t and 1 metre at 339 g/t.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 14 May 2014 16:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163274/vector-resources-kicks-off-gold-ore-haulage-from-gwendolyn-western-australia-54947.html
<![CDATA[News - Vector Resources starts grade control drilling at WA gold project ]]> https://www.proactiveinvestors.com.au/companies/news/163273/vector-resources-starts-grade-control-drilling-at-wa-gold-project-51870.html vector Resources (ASX: VEC) has started gold grade control drilling at its Gwendolyn East Cutback Project in Western Australia, in preparation for undertaking bulk sampling.

Processing the bulk sample will allow the company to accurately forecast the economics of the remaining Phase 1 and larger-scale Phase 2 operations at Gwendolyn.

The company has secured a $3 million debt facility to fund the bulk sample campaign.

Gwendolyn has a Reserve of 27,964 tonnes at 5.68 grams per tonne for 5,106 ounces of contained gold within a broader Indicated Resource of 1,460,000 tonnes at 1.74g/t, or 81,657 ounces of gold.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 14 Jan 2014 18:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/163273/vector-resources-starts-grade-control-drilling-at-wa-gold-project-51870.html
<![CDATA[News - Vector Resources' spectacular 1,165g/t gold hit at Gwendolyn East Project ]]> https://www.proactiveinvestors.com.au/companies/news/163272/vector-resources-spectacular-1165gt-gold-hit-at-gwendolyn-east-project-29487.html Vector Resources (ASX: VEC) has made what can only be described as a spectacular gold discovery at the Gwendolyn East Project in Western Australia.

Reverse circulation drilling delivered 5 metres at 253.33 grams per tonne (g/t) gold from 24 metres, including 1 metre at 1,165g/t gold.

Supporting the super strike is the bonanza; 1 metre at 56g/t gold from surface, with other results including; 1 metre at 17.99g/t gold from 17 metres; 2 metres at 16.6g/t gold from 51 metres; and 12 metres at 8.38g/t gold from surface.

Glyn Povey, managing director, told Proactive Investors today that the company was still waiting on assays from another 118 reverse circulation holes. "The gold discovery is outside of the known mineralised envelope."

These highly anticipated results will cover over 9,000 metres and will certainly ramp up short term news flow, as they are announced over the next three to six weeks.

Damien O’Reilly, chairman, added commented to the gold discovery: “The latest results from Gwendolyn continue to justify our faith in this resource.

"The naturally rich endowment of the Gwendolyn prospect notwithstanding, and increasingly apparent: it is a credit to our executive management, geologists and drilling crews upon whose efforts, experience and instincts we rely so much upon.

"With a great deposit and an equally capable and enthusiastic team of professionals, Vector Resources will continue to add value to its portfolio of assets and uphold our commitment to those investors and shareholders who have placed their trust in us.”


Validation of spectacular grades

A review of hole G140 by Aurum Laboratories gave a single metre result of 1,212g/t gold with a repeat sample of 1,165g/t gold within a significant intercept of; 5 metres at 253.33g/t gold.

Additional single samples were then sent to SGS Kalgoorlie’s laboratory where results of 1,475g/t gold were received for the same metre intercept.

This material was also reviewed by Roger Townend and Associates (Consulting Mineralogists) who conducted a mineralogical examination of one drill sample (G140, 25-26 m) and analytical lab pulped split equivalent (S24197) for gold.

This report clearly identified gold mineralisation where the sample was screened into three fractions, -500, +500 and +2 mm. Polished sections were made of each fraction and these were examined with particular reference to gold.


Astute investors have Vector Resources on their radar

Today's results were spectacular, but not lost on astute investors are these are not the first set of high grade discoveries announced by the company in recent times.

Just last month drilling outside the resource area of the project delivered; 5 metres at 22.68g/t gold from 21 metres, including 1 metre at 107.7g/t gold; 1 metre at 20.51g/t gold from 36 metres; and 2 metres at 12.44g/t gold from 117 metres.


JORC Resource already in place

Gwendolyn hosts a JORC Inferred Resource of 1.21 million tonnes at 2.71g/t gold for 106,000 ounces of contained gold, following two consecutive resource upgrades in the December quarter 2011. The project also has 103,000 unclassified ounces.
 
Historical mining was carried out at the project, with a near surface oxide pit mined to a depth of about 28 metres for 73,077 ounces of gold production.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Wed, 30 May 2012 11:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163272/vector-resources-spectacular-1165gt-gold-hit-at-gwendolyn-east-project-29487.html
<![CDATA[News - Vector Resources: RM Research places $0.30 three month target, forecasts 200% resource increase ]]> https://www.proactiveinvestors.com.au/companies/news/163271/vector-resources-rm-research-places-030-three-month-target-forecasts-200-resource-increase-27373.html Vector Resources (ASX: VEC) could increase its gold JORC Resource by 200% in the short term, following the acquisition of Golden Iron Resources, a new broker report from RM Research has said.

The report rated Vector a speculative buy and placed a three month price target on the company of $0.30, three times the company’s current share price.

The following is an excerpt from the report.

Vector Resources Limited

Projecting JORC Resources to increase by over 200% short term ... Gwendolyn shows potential for mineable oxide resource

Following the acquisition of Golden Iron Resources in February 2011, Vector has been making excellent progress at its flagship gold projects, Gwendolyn and Mt Dimer, in the Southern Cross Region of Western Australia.

In the last 11 months, of which the Company has only been actively drilling for the last six months, total JORC Resources at Gwendolyn and Mt Dimer have increased from 789,900 tonnes @ 4.7 g/t gold to 2.1 million tonnes @ 3.1 g/t gold for a total of 205,865 ounces.

Importantly the total discovery cost of the additional ounces is under A$2.00.ounce against an industry comparison of A$10-15/ounce.

This recent resource upgrade however appears to be just the start of what could be a significant resource inventory which has the potential to sustain a standalone operation at Gwendolyn and possibly Mt Dimer. The quickest path to production appears to be the identification of oxide resources with recent results from 5,615 metres of RC drilling resulting in an increase of 78,300 JORC ounces and 103,000 unclassified ounces supporting our bullish views on Gwendolyn.

Both Gwendolyn and Mt Dimer have suffered from a lack of any systematic exploration of recent years. Mt Dimer in particular has been considered a narrow vein, high grade underground gold play with fairly poor continuity and modest project economics. The last two phases of RC drilling however have upgraded JORC Resources at the project including an additional 8,725 ounces at the Lightning Prospect.

In addition to the detailed drilling at Gwendolyn and Mt Dimer, the Company has also completed and processed the results from aeromagnetic surveys over the Mt Palmer, Clampton and Muriel’s’ Extension Projects.

At the 50:50 Earaheedy joint Venture with Cazaly Resources Limited (ASX: CAZ), a CID target in a remote part of Western Australia approximately 750 kilometres north-east of Perth, Anglo American have agreed (September 2011) to farm-in to a 890km2 area on the northern portion of the tenement. Anglo American will earn up to 75% of the project, make payments of up to A$51 million, drill 7,500 metres in the next 12 months and spend up to A$20 million within four years on exploration. In order to earn a 75% interest, Anglo American must complete a BFS. The JV still leaves CAZ and VEC with substantial acreage to explore in their own right in the southern portion of the tenement.

The company is currently trading at an Enterprise Value of A$71.5 per JORC Resource ounce against a sector average (for comparable explorers/developers) of approximately A$107/JORC Resource ounce.

RM Research however considers that total JORC Resources at Gwendolyn and Mt Dimer should increase to between 460,000 to 640,000 ounces within the next 3-6 months which would give us a share price target between 30 and 40 cents per share (fully diluted) assuming this relatively high-grade resource inventory would sustain a premium of say EV/oz gold of A$20-25/ounce over the sector average for its peers in the range of A$107/ounce.

Significantly, RM Research believes that the relatively high grades at both Gwendolyn and Mt Dimer have the potential to sustain C1+C2 operating costs under A$400/ounce against an average of approximately A$750/ounce for Western Australian open cut miners.

Our three month base case share price target is 30 cents on the back of the JORC resource inventory increasing to 460K ounces, however we believe this may surprise on the upside. Speculative Buy.

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Tue, 10 Apr 2012 09:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163271/vector-resources-rm-research-places-030-three-month-target-forecasts-200-resource-increase-27373.html
<![CDATA[News - Vector Resources raises A$4m to advance gold and iron ore exploration ]]> https://www.proactiveinvestors.com.au/companies/news/163270/vector-resources-raises-a4m-to-advance-gold-and-iron-ore-exploration--22129.html Vector Resources (ASX: VEC) will raise A$4 million through a placement of 50 million shares at $0.08 per share, together with a free 1:1 attaching listed option at an exercise price of $0.20 expiring 30 June 2012.

Funds will be used to further the company's mineral exploration projects and for working capital purposes. Indian Ocean Capital Pty Ltd is lead manager to the offer.

The capital raising will be completed in two tranches. Tranche 1 will comprise 12.5 million shares (25% of the total raising) to raise $1 million.

Tranche 2 will consist of 37.5 million shares (75% of the total raising) to raise $3 million together with the 50 million free attaching listed options on a 1:1 basis, to be issued following the approval of the company’s shareholders in a general meeting.

On November 8 Vector received results from the final holes from the phase two drilling program at the Gwendolyn Gold Project in Western Australia, increasing the area of mineralisation to be incorporated into the Resource model.

Best intersections included 4 metres at 19.85 grams per tonne gold (g/t) from 81 metres, including 1 metre at 40.05g/t gold and 1 metre at 20.72g/t gold.

Results from the previous 41 holes led to a substantial increase in the Inferred Resources at Gwendolyn, to 79,700 ounces from 33,300 ounces gold.

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Wed, 16 Nov 2011 11:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/163270/vector-resources-raises-a4m-to-advance-gold-and-iron-ore-exploration--22129.html
<![CDATA[News - Vector Resources intercepts 4m at 19.85g/t gold at Gwendolyn ]]> https://www.proactiveinvestors.com.au/companies/news/163269/vector-resources-intercepts-4m-at-1985gt-gold-at-gwendolyn--21738.html Vector Resources (ASX: VEC) has received results from the final holes from the phase two drilling program at the Gwendolyn Gold Project in Western Australia.

Results for the remaining 13 holes of the 54 hole reverse circulation program have been received, with seven containing significant intersections.

The best intersections were:

- 4 metres at 19.85 grams per tonne gold (g/t) from 81 metres, including 1 metre at 40.05g/t gold and 1 metre at 20.72g/t gold;

- 1 metre at 5.41g/t gold from 116 metres; and

- 2 metres at 4.69g/t gold from 81 metres, including 1 metre at 8.19g/t gold.

These latest results increase the area of mineralisation will be incorporated into the Resource model for the Gwendolyn Project.

Results from the previous 41 holes led to a substantial increase in the Inferred Resources at Gwendolyn, to 79,700 ounces from 33,300 ounces gold.

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Tue, 08 Nov 2011 15:22:00 +1100 https://www.proactiveinvestors.com.au/companies/news/163269/vector-resources-intercepts-4m-at-1985gt-gold-at-gwendolyn--21738.html
<![CDATA[News - Vector Resources intercepts 3m at 57.91g/t gold, extends Gwendolyn mineralisation ]]> https://www.proactiveinvestors.com.au/companies/news/163268/vector-resources-intercepts-3m-at-5791gt-gold-extends-gwendolyn-mineralisation-20692.html Vector Resources (ASX: VEC) has returned a number of small, high grade gold intercepts from drilling at the Gwendolyn Project in Western Australia, including one drill hole that returned 3 metres at 57.91 grams per tonne (g/t) gold, including 1 metre at 145g/t gold.

The company is anticipating a significant resource upgrade from the phase two drilling program, designed to explore along strike of the current resource mineralisation to the north and south.

So far, 35 of the 54 planned holes have been drilled, for 3962 metres. Results from 22 of these holes have been received, with 13 still pending.

Of the 22 holes returned, 15 reported gold grade intercepts of greater than 0.8g/t. Mineralisation remains open at depth and along strike to the north and south.

The remaining 24 holes are expected to be drilled in late October or early November 2011, once the drill rig completes the priority two targets at Vector’s flagship Mt Dimer Gold Project.

Once the phase two program is completed, Vector will have tested a total strike length of 950 metres. Additional ground to the south of the phase two program, totalling 650 metres, will be explored in a phase three drill program.

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Thu, 13 Oct 2011 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/163268/vector-resources-intercepts-3m-at-5791gt-gold-extends-gwendolyn-mineralisation-20692.html
<![CDATA[News - Vector Resources hits 6m at 24.81g/t gold at Mt Dimer ]]> https://www.proactiveinvestors.com.au/companies/news/163267/vector-resources-hits-6m-at-2481gt-gold-at-mt-dimer-19898.html Vector Resources (ASX: VEC) latest reverse circulation drilling program at the Mt Dimer project has delivered some high grade, near surface gold hits, which has the potential to increase the current resource.

Mt Dimer already hosts a JORC Measured, Indicated and Inferred Resource of 377,200 tonnes at 5.8 grams per tonne (g/t) gold for 70,230 ounces.

Highlights include 6 metres at 24.81g/t from 62 metres, 4 metres at 21.71g/t from 50 metres, and 4 metres at 20.98g/t from 87 metres.

Importantly for the potential of more gold discoveries, 80% of the phase one drill program is still in progress.

Priority holes of phase one drilling is targeting near mine locations of Lightning, Anomaly 2, Silver Wing and Golden Slipper South.

Vector said that the results of the drilling program received to date have identified substantial mineralisation at depth and along the strike of Lightning, while the drilling at Anomaly 2 has identified a significant intercept that will require further delineation for resource construction.

The company's tenements at Mt Dimer cover over 2000 hectares.

 

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Thu, 22 Sep 2011 10:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163267/vector-resources-hits-6m-at-2481gt-gold-at-mt-dimer-19898.html
<![CDATA[News - Vector Resources expands gold exploration footprint at Mt Dimer project ]]> https://www.proactiveinvestors.com.au/companies/news/163266/vector-resources-expands-gold-exploration-footprint-at-mt-dimer-project-19166.html Vector Resources (ASX: VEC) has secured applications for additional land holdings at its Mt. Dimer project where the company yesterday confirmed substantial potential for extensions to known mineralisation within historic mined areas.

One exploration and one prospecting licence has been applied for north of Mt Dimer’s main tenements, representing a 22.2% increase in the land holding to 2480.5 hectares.

The increase in the Mt Dimer land holdings has potential for additions to the newly identified mineralisation targets within the existing mining tenements. This ground will be explored with a geochemical auger program that could identify potential new areas for exploration drilling.

The area has similar structural features to Mt Dimer and little exploration for precious metals has been carried out previously.

Yesterday's results over M77/427 and M77/428 at the project in Western Australia are considered "highly compelling" by the company. There were 17 new Greenfield targets and 4 extensions of known mineralisation.

Highly economic grades identified at surface included: 3360 parts per billion (ppb) and 1650 ppb and there is definite structural correlation with geochemical results and aeromagnetic surveys.

The land holdings are to the north of tenements M77/427 and M77/428, and north west of tenements M77/957, M77/958 and M77/965.

Additional sample results over M77/957, M77/958 and M77/965 are pending.

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Thu, 01 Sep 2011 14:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163266/vector-resources-expands-gold-exploration-footprint-at-mt-dimer-project-19166.html
<![CDATA[News - Vector Resources identifies highly prospective gold targets at Mt Dimer ]]> https://www.proactiveinvestors.com.au/companies/news/163265/vector-resources-identifies-highly-prospective-gold-targets-at-mt-dimer-19092.html Vector Resources (ASX: VEC) has received strong assay results from a geochemical soil auger program at its Mt Dimer project, confirming substantial potential for extensions to known mineralisation within historic mined areas.

The results over M77/427 and M77/428 at the project in Western Australia are considered "highly compelling" by the company. There were 17 new Greenfield targets and 4 extensions of known mineralisation.

Highly economic grades identified at surface include: 3360 parts per billion (ppb) and 1650 ppb and there is definite structural correlation with geochemical results and aeromagnetic surveys.

Additional sample results over M77/957, M77/958 and M77/965 are pending and a total of 22 highly prospective target areas have now been defined across the licences.

Damien O'Reilly, Vector Resources chairman, said “the results of the auger program are extremely compelling and attaining several results of 825 to 3360 ppb from surface far exceeded our expectations. This is indicative of the world class potential of the Mt Dimer project.”

Mt Dimer has the potential for new Greenfield mineralisation to be discovered, with encouraging fundamentals that include upside indicators from the new program to historic records. There is clear indication of extensions of historical pits to the north and south along strike and the gold ppb values are hundreds of factors above anticipated results.

Work has commenced on designs for a rotary air blast drilling program to test these targets. Phase 1 drilling at Mt Dimer is currently underway with approval for a reverse circulation drill program consisting of 147 drill holes totalling 14,770 metres being received in early August 2011.

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Tue, 30 Aug 2011 10:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163265/vector-resources-identifies-highly-prospective-gold-targets-at-mt-dimer-19092.html
<![CDATA[News - Vector Resources hits 2m at 26.68g/t gold in maiden drilling in Western Australian ]]> https://www.proactiveinvestors.com.au/companies/news/163264/vector-resources-hits-2m-at-2668gt-gold-in-maiden-drilling-in-western-australian-18200.html Vector Resources (ASX: VEC) is finding early success at the wholly owned Gwendolyn Project in Western Australia, with the company intersecting significant near surface gold intercepts in 15 of 18 holes on phase one drilling.

The highlights included:

- 10 metres at 6.68 grams per tonne (g/t) gold from 82 metres, including 2 metres at 26.68g/t gold;
- 7 metres at 10.65g/t gold from 11 metres, including 4 metres at 15.51g/t gold; and
- 6 metres at 7.54 g/t gold from 54 metres.

The drilling program was designed to verify historical drill data and explore for mineralisation extensions along strike and at depth on the tenement, where previous mining included an open pit - which has since been filled.

Most importantly for the potential of the project is that most of the intercepts lay outside the inferred resource envelope identified in the original resource package.

The results indicate there are extensions along strike to both the north and south, which remain open and will be further explored in phase two drilling, which is planned for late August - September this year.

Gwendolyn already hosts an existing Inferred JORC Resource of 317,700t at 3.3g/t gold for 33,300 ounces, which Vector said has the potential to be increased.

 

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Thu, 28 Jul 2011 12:18:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163264/vector-resources-hits-2m-at-2668gt-gold-in-maiden-drilling-in-western-australian-18200.html
<![CDATA[News - Vector Resources targets near surface gold in extensive drilling at Mt Dimer ]]> https://www.proactiveinvestors.com.au/companies/news/163263/vector-resources-targets-near-surface-gold-in-extensive-drilling-at-mt-dimer-16385.html Vector Resources (ASX: VEC) will target gold in an extensive soil augur drilling campaign after completing a detailed scope and works program at the company’s wholly-owned Mt Dimer Project in Western Australia.

The extensive soil augur drill campaign will comprise 3,447 shallow drill holes covering the entire project area on a 100 metre by 40 metre grid over two tenements, and a 200 metre by 200 metre grid over another two tenements.

Drilling has been designed to confirm areas of known mineralisation, and to also identify new areas, using existing geophysical and geochemical data.

Mt Dimer already hosts a high grade JORC Resource of; 377,000 tonnes at 5.8 grams per tonne (g/t) gold for 70,320 ounces of gold.

Vector said that Mt Dimer has a significant potential for new areas of economic mineralisation.

The project is located 120 kilometres northeast of the town Southern Cross and has established mining infrastructure that includes an airstrip, decline, equipment foundations and a ventilation shaft.

 

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Wed, 18 May 2011 13:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/163263/vector-resources-targets-near-surface-gold-in-extensive-drilling-at-mt-dimer-16385.html
<![CDATA[News - Vector Resources drilling uncovers new iron ore discovery in WA ]]> https://www.proactiveinvestors.com.au/companies/news/163262/vector-resources-drilling-uncovers-new-iron-ore-discovery-in-wa-12322.html Vector Resources (ASX: VEC) has completed a maiden drill program at the Earaheedy Project, northeast of Wiluna in Western Australia, identifying potential DSO type mineralisation at the Cecil Rhodes Prospect including 22 metres at 58.1% iron, 22 metres at 57.8% iron and 26 metres at 55.1% iron.

The mineralisation overlies primary magnetite mineralisation and occurs within a magnetic anomaly striking for over approximately 8km.

Regional mapping also confirms manganese potential with surface samples to 37% Mn at the Blue Cliffs prospect.

Significant results for iron were also returned with values up to 55.6% Fe. This prospect is a priority target in 2011 with programs of mapping and drilling currently being planned.

The Earaheedy Project is a 50:50 Joint Venture with Cazaly Resources (ASX: CAZ) who manages the Joint Venture.

The drilling programme comprised 21 holes for 1,916m, testing a number of targets at the Project with the most encouraging results coming from the Cecil Rhodes Prospect.

Significant results have been intersected over a strike of 400m, but remain open in all directions.

Due to the lack of outcrop and the early stage of exploration a number of drill holes failed to reach the intended target horizon. Therefore, the extent of significant iron mineralisation remains unclear.

Numerous targets elsewhere in the project remain to be drill tested.

The JV partners are currently planning programs for 2011 including further mapping of the mineralised horizon at Cecil Rhodes and developing follow-up drill programmes.

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Mon, 06 Dec 2010 14:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/163262/vector-resources-drilling-uncovers-new-iron-ore-discovery-in-wa-12322.html
<![CDATA[News - Vector Resources moves into gold sector, makes offer for Golden Iron Resources ]]> https://www.proactiveinvestors.com.au/companies/news/163261/vector-resources-moves-into-gold-sector-makes-offer-for-golden-iron-resources-10557.html Vector Resources (ASX: VEC) is making an off-market takeover bid for all shares in Golden Iron Resources Limited, an unlisted public company with a total of 47,025,000 shares on issue.

With its suite of gold assets, the Golden Iron deal will position Vector in the gold sector with near term gold production potential to tap record high gold prices.

Vector will offer one (1) fully paid ordinary Vector share for every two (2) Golden Iron shares held.
Golden Iron shareholders will hold approximately 25% of the expanded issued capital of Vector immediately on completion of the acquisition of 100% of the Golden Ironshares on issue.

Golden Iron holds the rights to a highly prospective portfolio of six gold projects and one iron ore project located within the established gold province of Southern Cross in Western Australia.

The lead project, Mt Dimer, hosts a relatively high-grade JORC Compliant Resource of 798,900t @ 4.7g/t for 118,800 oz Au.  Mt Dimer has previously produced 133,000 oz of gold @ 6.5g/t Au and 183,000 oz Ag.

Golden Iron also owns the Gwendolyn Project, a JORC compliant inferred resource of 317,700t at 3.3 g/t Au for 33,000 ounces of gold has been defined, however there exists the potential for a significant DSO (direct shippable iron ore) operation.

Surface sampling returned grades of:

• 66.5% Fe
• 64.9% Fe
• 63.9% Fe

Golden Iron’s board supports the bid, and has informed Vector that the Golden Iron directors intend to unanimously recommend acceptance to Golden Iron shareholders in the absence of a superior proposal, they accept Vector’s offer.

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Wed, 06 Oct 2010 06:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/163261/vector-resources-moves-into-gold-sector-makes-offer-for-golden-iron-resources-10557.html