Couldn't see a thread for vgm following the transition from rvd and now producing gold at Vatukoula in Fiji. Looking to ramp up to a rate of 110,000 oz per annum by mid 2009 with current rate of production probably a little over 60,000 oz per annum.

Making good progress towards their targets.

even to my surprise, the market is underwhelmed

market are always underwhelmed cynic , special in these troubled times nothing surprise me in the London stock exchange any more just have too be a little Patience they no the game well... they write the rules ;-)) we just have too bend them

I think the market was already aware of the contents on Friday. I thought that the Results RNS on 26 Feb held a note of caution from Dave Paxton:-

David Paxton, CEO of Vatukoula Gold Mines commented - "It is paramount that these results are taken in the context of the Board's overall and continuing strategy to develop the mine as a profitable venture moving forward. In order to achieve that goal the Board has had to focus both its efforts and funds on a significant capital expenditure programme. We have initiated our strategy with a long term regard to the needs of the mine and of the Company. We continue to believe that this mine can produce 100,000 ounces of gold per year and we believe that the expenditure on significant new machinery and mine development will prove to be a solid long term investment.

No need for too much caution as far as I can see and, barring a calamity, the goal of 100,000 oz per annum should be achieved sooner rather than later. Having said that, I haven't visited the mine so cannot see any likely spanners in the works! :0)

This from Monday's recommendation on UK-Analyst is from GE&CR


Vatukoula Gold Mines * - Second Quarter Operational Update. Speculative Buy with 4p Target Price.



Key Data


EPIC
VGM


Share Price
2.295p


Spread
2.29p 2.30p


Total no of shares
3,652,371,027


Market Cap
83.8 million


12 Month Range
0.53p 2.59p


Market
AIM


Website
www.vatukoulagoldmines.com


Sector
Mining


Contact
David Paxton, CEO

Tel: +44 (0)20 7016 7861


The 3 months to 28th February 2010 provided further tangible evidence of operational progress at Vatukoula as the company reported increases in gold recovered and gold sold, as well as continuing to benefit from its unhedged position. Most importantly, the statement out today shows that the company remains on track to meet its target of producing 60,000 ounces of gold in its financial year to 31st August 2010.

Tonnes of ore mined, delivered and processed increased by 39%, 16% and 19% quarter on quarter to 62,606, 101,702 and 102,302 respectively as the availability and utilization of equipment as well as improved mine planning produced tangible results. The average total head grade fell from 5.29 g/t to 4.64 g/t as the average grade mined fell from 8.34 g/t to 6.93 g/t due to the company mining lower grade ore bodies. Consequently, the cash cost per ounce recovered increased from $584 to $684.

Recovery rates were stable at 84%, and while the amount of gold recovered rose marginally to 12,869 ounces (12,227 ounces in November 2009 quarter), the amount of gold shipped ballooned to 15,267 ounces (8,826 ounces). This, together with the continuation of high gold prices ($1,104 per ounce) resulted in Fiji group net earnings rising by 255% to $4.6 million.

On the 15th of March, a cyclone centred on the island of Vanua Levu left the companys facilities undamaged, while the matter of power supply remains a constant issue and one which management continues to seek a resolution to with discussions with the Fiji Sugar Corporation regarding bio fuels ongoing. Having committed to a social assistance trust fund for ex-employees of the Vatukoula mine in December 2009, the company made the first of five F$1.5 million ($0.77 million) annual payments on the 15th of March 2010.

With exploration of the companys wider licence area in the Tavua volcano ongoing, and a study commissioned into the capital cost of increasing eventual gold production beyond the current 100,000 ounces per annum target, Vatukoula remains committed to maximising the value from its natural and manufactured resources. On the basis of our discounted cashflow model, we continue to value Vatukoula at 4p per share but, if it can deliver a sustained increase in production above 60,000 ounces per annum, we will be forced to increase that target. At 2.295p our stance remains speculative buy.

charts showing a buy signal on the MACD... strong buying also contributing to the signals
SAR also showing upward trend

is VGM now blowing bubbles???

Not as much as ABG there sinking Cynic, !! LOL

didn't buy those after all that, but sure glad i took my profits on RIO and POG

i expert gold too move back up sort trem Cynic in the big way that's why I'm taking my position now ,i would suggest you are in a boat that lets you ride the wave

i trade both RIO and POG on a regular basis, but thank you for your thought

New article, click HERE

Extract from GATA ( Gold Anti-Trust Association ) Chairman's written submission to today's CFTC Public Meeting to Examine Futures and Options Trading in the Metals Markets:--

March 18, 2010

The CFTCs own reports of November 2009 show that just two U.S. banks held 43 percent of the commercial net short position in gold and 68 percent of the commercial net short position in silver. In gold these two banks were short 123,331 contracts but long only 523 contracts, and in silver they were short 41,318 contracts and long only 1,426 contracts. How improbable is it that these two banks attract most of the investors who want to sell short? 5

It has been possible to extrapolate that the two banks that hold these large manipulative short positions on the Comex are JPMorgan Chase and HSBC because of their huge positions in the OTC derivatives market, whose regulator, the U.S. Office of the Comptroller of the Currency, does not provide anonymity when it publishes market data. 6 In the first quarter 2009 OCC derivatives report, JPMorgan Chase and HSBC held more than 95 percent of the gold and precious metals derivatives of all U.S. banks, with a combined notional value of $120 billion. This concentration dwarfs the concentration in the gold and silver futures markets and should raise great concern about the lack of position limits on the Comex.

GATA has evidence that there are huge physical short positions in the gold market that cannot be covered. Growing stress caused by burgeoning physical bullion demand is threatening to lead to a price explosion, which will restore to the market the balance that regulation has failed to maintain. In our view, the Comex paper market will become dysfunctional, with force majeure having to be declared as the concentrated shorts are unable to deliver on their obligations.

We urge the CFTC to report fully and candidly on these markets and take appropriate action.

Sincerely,
WILLIAM J. MURPHY III
Chairman ( GATA )
-----------------

Full submission:--
http://www.capitolconnection.net/capcon/cftc/032510/Presentations/Panel%203/March%2018%20%20FINAL%20CFTCLetterCP-03-18-2010.pdf

charts are showing this as ready for the next move up please do yr home work

ready and waiting. gl

Interesting turn of events.... TPTB are not happy. Its either they silence him now, or else things would get out of hand if this hits the mainstream media. Just imagine him being interviewed on all the independent newspapers. the only way he can save his life now is go viral with his message with the help of the gold bugs.

http://www.sott.net/articles/show/205674-Andrew-McGuire-whistle-blower-on-market-manipulation-injured-in-hit-and-run-accident

something to ponder on till tomorrow from another BB

http://www.dailyfinance.co.uk/2010/04/02/why-china-loves-gold-so-much/

This is a must listion

Another scoop re. physical metals held or rather not held by the Bullion Banks
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/4/7_Andrew_Maguire_%26_Adrian_Douglas.html

heavy buying here today.

Looking good isn't it?

hope the spike past 2.60 isn't it and back down again. Nice to see it back in play.