Vgm19 May 2013 13:20
B o o m on Monday???
"Shar...hets can exclusively reveal that AIM listed gold miner Vatakoula (VGM) has negotiated a deal whereby a major Chinese mining group will invest £4.5 million at 15p per share – this compares to a Friday share price of 6.5p.
Our sources tell us that the Chinese will then seek to obtain $40,000,000 debt funding from a Chinese bank for Vatakoula.
Should that deal be secured, the Chinese mining group will have an option to purchase additional Vatakoula shares at 15p to take its stake up to 29.9 per cent.
We do not know how close Vatakoula is to completing the transaction but would rather suspect that following our revelations, it will be forced to issue a statement first thing on Monday morning.
Clearly, this is exceedingly good news for Vatakoula in that it removes any immediate balance sheet concerns and potentially will secure the funding to allow its too fully develop the potential of its eponymous mine."