Vector Resources

Primary ticker: ASX:VEC
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: ADIDI KANGA South Kibali and Nizi

Live financials

Vector Resources (VEC) started exploring in the Democratic Republic of Congo (DRC) in 2016. The initial focus was a resource at Maniema and more recently negotiated joint ventures with Fimosa and SOKIMO over areas of past and present gold mining. The most advanced prospect is the Adidi-Kanga gold project, which has already been the subject of feasibility and environmental impact studies by AngloGold Ashanti (AGG).
Vector has established itself as a preferred technical and financial partner with the government owned SOKIMO who have significant gold interests in the DRC. With a highly experienced team in place, Vector will be looking to rapidly advance these projects into production and unlock the stranded gold assets long known to exist in the north eastern greenfield belts of DRC.

Management Profile

Simon Youds – CEO

Degree qualified Mining Engineer from University of NSW and with an MBA from Deakin, Simon Youds has had over 20 years experience working in the global resources industry including Africa, South America, PNG and Australia. Among other senior roles, Simon has fulfilled the role of Managing Director at Consolidated Minerals in Australia and CEO of African Iron in the Republic of Congo.

Andrew Steers – CFO and Company Secretary

Together with Simon, Vector’s CFO and Company Secretary, Andrew Steers with be presenting Vector’s strategy and growth pathway. Formerly Group Finance Manager and Company Secretary of TSX listed Moto Goldmines LTD, the developer of the Kibali Asset prior to its sale to Randgold, Andrew has over 15 years experience in the mining and resource sectors in Australia and Africa.

What is your rationale for attending 121 Mining Investment?

As a result of its highly successful acquisition strategy, Vector is currently pursuing a cornerstone investor or investor or investor group with the appetite for DRC gold projects. Vectors position in the gold sector, African based, presents a significant opportunity for a number of investor types and access to capital will be important for Vector as it pushes forwards with its plans to establish gold mining operations. With the recent and on-going acquisitions of advanced world-class gold assets, in both size and grade, the earl stage of Vector presents the opportunity for investors to ern significant capital returns.

What recent news would you like to highlight to investors attending?

Vectors aggressive acquisition strategy has resulted in two key agreements being reached and highlight the strong position we have built as partner of choice in the DRC:
1. Strategic alliance agreement with SOKIMO (government owned gold company) for the acquisition of the Kibali South and Nizi Gold Projects in the DRC.
2. Acquisition agreement for the purchase of the Adidi-Kanga Gold Project, part of the Adidi Kanga asset and representing a JORC resource of 3.2 oz’s – with key objective to accelerate the project to mining operations.
3. The highly experienced executive, board and project team now in place.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

1. Finalise the Strategic Alliance agreement and purchase of the Kibali South and Nizi Gold Projects from SOKIMO. 2. Complete initial drilling at Maniema Gold Project

6 Months:

1. Complete mine design and schedule and finalise data collection for DFS at Adidi-Kanga Gold Project (Mongbwalu). 2. Progress Kibali South and Nizi projects to Scoping and PFS studies.

12 Months:

1. Completed DFS for Adidi-Kanga Gold Project (Mongbwalu) and secure project finance for EPCM of a world class gold mine. 2. Infill drilling and bulk sampling at Maniema Gold targeting >1Moz resource

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Cornerstone investors
Due to the significant growth resulting from our acquisition strategy, Vector is a significant takeover target. Vector is continuing to ensure shareholder value is seen but its shareholders and will continue to advance talks with interested cornerstone or strategic equity partners.
DRC as a jurisdiction is a challenging environment. The success we have seems on the acquisition strategy has shown our ability to operate and navigate through the typical DRC obstacles. The local team has been incredibly important in this regard and we will be continuing to invest in local resources. The strategic partnership with SOKIMO is the key success factor for Vector.

In a sentence, what do you think makes your company such a compelling investment?

With world-class gold deposits at a premium and limited fold exploration activities over the past few years, the Vector acquisition strategy has seen it gain significant gold resource and fold target ounces. With a team capable and dedicated to realising value from these assets, Vector can become a significant gold producer on the African continent. The equity return potential is significant and can not be overlooked.