Brief: VDM Group signs new mining investment contract

VDM

13/12/2015 22:11

Dec 14 (Reuters) - VDM Group Ltd  VMG.AX : 
 * Mining investment contract & share subscription update  VMG.AX  
 * Says ministry of geology and mining of the republic of Angola signed a mining investment contract with VDM 
 * Says amount intended for investment in the prospecting phase of the project is USD$24 million 
 * Says VDM will complete copper project acquisition agreement by allotting and issuing 650 million VDM shares to seabank 
 * Under the payment arrangement, VDM will pay seabank $200,000 in January 2016, $2 million in June 2016, and $2.68 million in December 2016 
 * Source text for Eikon  ID:nASXqvhtM  
 
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