Vector Resources Limited (ASX: VEC) is into the verticals of gold mining and development. The company is heavily focussed upon the Maniema gold project which is situated in the Republic of Congo. The company is also under the process of acquisitions in the DRC. Amongst them is the 60% stake in the Kanga gold project located in DRC. The Company acquired the Maniema project in the month of December 2016. The Project is situated in the very well-known and less explored Twangiza-Namoya corridor. The Project is comprised of seven granted mining licenses. This will be covering an area of over 500km2 and include seven main mining prospects.
The company has stated via the latest release that its securities listed on ASX will be suspended from quotation immediately, pending the release of an announcement regarding the acquisition of the Adidi-Kanga site in the Democratic Republic of Congo (DRC). It has requested that a temporary suspension from quotation be granted by the ASX, concerning the Company’s quoted securities. The request for suspension follows on from the trading halt requested on Monday, 31 December 2018 subject to an announcement by the Company about the acquisition of the Adidi-Kanga Gold Project in the Democratic Republic of Congo.
The Company has provided the below-mentioned information concerning above-mentioned suspension:
- The voluntary suspension is being required pending an announcement by the Company about the acquisition of the Adidi-Kanga Gold Project in the Democratic Republic of Congo;
- The Company anticipates the suspension will remain in place until the commencement of trading on Wednesday, 9 January 2019 or when the expected announcement are introduced to the markets;
- The event which will put an end to the voluntary suspension are the announcements referred to in paragraph 1.
Earlier as on the 31 December 2018, the company said that its securities listed on ASX would be put into the trading halt upon its request to the ASX, subject to the release of an announcement. The securities will be in the trading halt up till the earlier of the commencement of regular trading on, 4th January 2019 or when the concerned announcement is released to the market, subject to ASX concluding anything different.
Meanwhile, the stock price of the company has fallen by 9.09 percent in the past six months as on 31 December 2018. VEC’s shares last traded at $0.020 with the market capitalization of circa $28.19 million.
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