Is it cheap enough?

11th Nov '09 by The Prospector

4 comments 3694 reads

UK based mining and exploration company with gold projects in Fiji and Brazil and a exploratory diamond project in Sierra Leone
Owns 100% of the Vatukoula Gold Mine in Fiji, a producing gold mine which contains 830,000 ounces of gold reserves and 5.15 million ounces of gold resources.
Benefits from a strong management team, with many years of global experience in both the investment and operational side of the gold and diamond industry
Own 100% of the Rio Novo Gold prospect in Brazil, consisting of 4 claims over an area of 30,000 hectares The area is proximate to the producing Palito Gold Mine.
Owns diamond exploration assets in Sierra Leone which are awaiting renewal of exploration licenses.
Own 0.46% of Global Diamond Resources Plc which owns 93% owned Kao Diamond Project in Lesotho

Useful links:

I have added my thoughts here - http://www.stockopedia.com/article/view/33181/vatukoula-gold-mines-is-it-cheap-enough .

Unlock with Email

Unlock with Google

Already have an account?
Login here

The Prospector

11th Nov '09

Big Picture view: I still can't get myself comfortable for the time being. High cost production, plus squabbling shareholders, makes it just too risky a play for my portfolio. Personally, I prefer Centamin Egypt .

Digger

12th Nov '09

I thought the shareholders had stopped squabbling and Wally Berukoff bought back in at 1p or so because he decided the troubles were over and the shares had at least another 1.5p in them.

p3dr036

6th Jan '10

There is still doubt as to whether or not Berukoff has finally disposed of his 200 million shares. He bought them though his investment company Viso Gero Global . The company has an enormous number of shares at issue 3,642,371,072 fully paid [company website] with a total of 4.25 billion shares authorised! While it means one can buy a lot of shares for little money [only joking] I am pretty sure that there will be a consolidation at some time in the future.

14th Jan '10

I've been buying these since 1st December at an average of 1.4p. So I am well pleased. They are tucked away long term - though I shall be tempted to top slice if they continue to rise so steeply!

Is it cheap enough?

Unlock the rest of this article with a 14 day trial

About the Author

The Prospector

4 comments

Unlock the metrics for all these stocks and more...

Unlock the metrics for all these stocks and more...