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vango mining ltd (VAN) Details

Vango Mining Limited explores for and develops gold deposits in Australia. It holds 100% interest in the Plutonic Dome gold project located in Western Australia. The company was formerly known as Ord River Resources Limited and changed its name to Vango Mining Limited in November 2014. The company was founded in 2004 and is based in Sydney, Australia.

Founded in 2004

vango mining ltd (VAN) Top Compensated Officers

MD & Director
Total Annual Compensation: A$150.3K
Executive Chairman
Total Annual Compensation: A$190.3K
Executive Director & Senior Management Consul...
Total Annual Compensation: A$43.8K
Compensation as of Fiscal Year 2018.
vango mining ltd
Vango Mining Limited Announces New Veryhigh Grade Gold Intersections from Drilling at the Mareast Prospect

Vango Mining Limited announced new, veryhigh grade gold intersections from drilling at the Mareast Prospect, at the northeastern end of the >5km strike length TridentMarwestMareast Corridor, on the 100% owned Marymia Gold Project, 300km northeast of Meekatharra in the MidWest region of Western Australia. These highgrade gold drilling results are from the current, ongoing, drilling programme that has so far included 12 reverse circulation (RC) holes for 1,712m at Mareast and continues to test the Marwest Prospect. This drilling is part of a programme of up to 30 RC holes for 4,000m, testing a series of targets in the TridentMarwestMareast Corridor and aimed at growing the highgrade resource base to support the Company's objective to establish a significant, standalone, gold mining and processing operation at the Marymia Gold Project. These new highgrade intersections, from below the previous Mareast open pit, highlight potential for both openpit cutback and underground resources, and include: 9m @ 15.0 g/t Au from 28m incl. 3m @ 39.8 g/t Au in VMERC0012 drilled from inpit; 4m @ 9.5 g/t Au from 76m in VMERC0007 drilled from surface; and 3m @ 2.16 g/t Au from 11m in VMERC0011 drilled from inpit. In addition, a series of lower grade intersections have confirmed the potential of a mineralised zone, northeast of the Mareast pit, to host an open pit resource (see Table 1 for intersections summary and Table 2 for drillhole details). These highgrade drilling results from Mareast are hosted by the MineMafic unit, that hosts the majority of highgrade gold mineralisation in the Marymia Greenstone Belt, including the Plutonic Gold deposit, that has produced >5.5Moz of gold to date (see Figure 1).

Vango Mining Limited Option to Jv Ned's Creek High-Grade Gold Project

Gold exploration and development company Vango Mining Limited announce that it has entered into a binding terms sheet with Lodestar Minerals Limited whereby Vango has the option to earn a 51% interest in Lodestar's Ned's Creek Project. The Ned's Creek Project adjoins Vango's 100%owned Marymia Gold Project, 300km northeast of Meekatharra in the MidWest region of Western Australia. The exercise of the option described in the Terms Sheet ("the Option") would effectively double the Company's strategic landholding, and consolidate its position as the dominant explorerdeveloper in the region. Ned's Creek is considered by the Company a highly prospective project area. Previous exploration at Ned's Creek by Lodestar has delivered multiple intersections of very highgrade gold mineralisation, including at the Contessa discovery, where drillhole LNRC026 intersected 4m @ 78 g/t Au from 140m, including 2m @ 139.5 g/t Au (Lodestar ASX release 12th June 2018. Under the Terms Sheet, Vango will pay a $300,000 Option fee, comprising $250,000 in Vango shares and $50,000 cash in order to secure an exclusive, fourmonth Option to Farmin and form a Joint Venture ("JV") with Lodestar at Ned's Creek. Vango will pay Lodestar a further $200,000 payable in Vango shares (for a total Option fee of $500,000) at such time that it exercises the Option to enter into a FarmIn and JV agreement to earn a 51% interest in the Ned's Creek tenements by expending $5 million on exploration over a threeyear period, at a minimum expenditure rate of $1 million per year. Upon Vango earning 51%, should Lodestar elect not to form a contributing JV at that stage, Lodestar may revert to a 20% "free carried" interest.

Vango Mining Limited, Annual General Meeting, May 31, 2019

Vango Mining Limited, Annual General Meeting, May 31, 2019, at 10:01 E. Australia Standard Time. Location: Suite 3542, Level 35, Tower 1 100 Barangaroo Avenue Sydney New South Wales Australia Agenda: To consider the approval to issue plan shares and provide a plan loan to Shengqiang (Sean) Zhou; and to consider the approval to issue performance options Shengqiang (Sean) Zhou, Bruce McInnes, Zhenzhu (Carol) Zhang.

 

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Price/Earnings NM Not Meaningful
Price/Sales 2,069.2x
Price/Book 7.9x
Price/Cash Flow NM Not Meaningful
TEV/Sales 2,200.3x
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