drbubb Posted May 6, 2006 Report Share Posted May 6, 2006 Vangold Resources (VAN.v) / Market Cap: C$32.7million = 68.2mn x C$0.48 Charts : 4-yrs-Weekly : 6-mos-Daily Support at C$0.46? Here's what VAN's IR man says: Fundamentally the company is very strong, Vangold has $4 M in treasury, ongong Oil revenues from the Killam North Oil Project, and Gas Revenues from the East Corning project in the Sacramento Basin, California. Further oil and gas drilling projects are scheduled for 2006, and 3 projects Sarcee, Chigwell and Strachan are scheduled for remedial work and/or expected to be tied into production to augment our revenues. There is a 2 to 3 well program planned for Strachan. A second phase of developmental drilling is planned at Killam during 2006 and we intend to fully develp the Oil Field. The Oil Revenues from Killam now arrive on a monthly basis. As per Vangolds' financial statements, revenues from year ends 2004 to 2005 increased from approximately $200,000 to $1 Million. 2006 should provide another substantial increase to revenues as the company continues to work towards one of it's goals of $1 M in revenues per month. The 12 month Drill Program continues at Mt Penck after a slight delay caused by the Typhoons. The weather interupted the program as it passed through Papua New Guinea and Australia. There are approximately 60 people working in the field. Our partner in Papua New Guinea posted information yesterday indicating they are focusing on defining a National Instrument Policy 43-101 compliant resource number for Mt Penck before year end 2006. As evident in Vangolds financials, funds are expended on our PNG properties on an ongoing basis. Further information on our mining properties inclusive of Mt Allemata and Uganda is pending. We anticipate alot of information throughout the year. Application for a listing on either the Tier One TSX or the TSE is in the works. We have cash flow and verifiable assets and should qualify. Vangold will attend the International Investment Conference in New York May 15th and 16th. Our Booth Number is 712. Robin Moriarty, BSc Link to comment Share on other sites More sharing options...
Mr_Nice Posted May 6, 2006 Report Share Posted May 6, 2006 Looks interesting. I like exploration companies that have cashflow as the dilution from constant new issues of stock is a common problem of juniors. Link to comment Share on other sites More sharing options...
HollandPark Posted May 6, 2006 Report Share Posted May 6, 2006 If I was you, I would wait a bit, for more evidence that it has bottomed out from its recent plunge. It failed to hold the Triangle, and that may be a bad sign Link to comment Share on other sites More sharing options...
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