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.

... And watch the SP over the coming months and onwards, this isn't a ramp, results due any time too, today's RNS I think was un-expected, toss this news in with good results due anytime now (supposed to be end of month) and I reckon its a deffinite good buy, check the trades to close today, and watch onwards ....

Yep, it looks to be shaping up nicely!

It's looking good...SP should move up nicely from here in the coming weeks and months..imho

Vatukoula Gold Mines has increased production from its Fiji mine.

It said this followed recent capital expenditure in underground development, underground mining equipment and at its power generating facility.

It mined 24,926 tonnes of underground sulphide ore between 12 October and 23 November with a delivered grade to the mill of 11.22 grams per tonne of gold (8,994 ounces).

The oxide circuit of the mill has mined 21,583 tonnes of open pit oxide ore with a delivered grade to the mill of 1.98 grams per tonne of gold (1,376 ounces).

It said: "These results, in particular the grade being delivered to the mill, are above management expectations for the period and as a result the company's first quarter results are expected by management to show an improvement in both production and cash costs per ounce over the previous quarter."

The company plans to release its operational update for the first quarter in December.

This is turning into more than a little gold mine by the looks of the way things are progressing!

7 December 2009 AIM: VGM

Vatukoula Gold Mines plc

("VGM" or "the Company")


Operational Update for the First Quarter from 1 September 2009 - 30 November 2009


VGM, the AIM-quoted Fijian gold producer, is pleased to announce its' operational update from the wholly-owned Vatukoula Gold Mine in Fiji, highlights include:

Mine net earnings of 1.292 million up from a loss of (1.587) million in the previous quarter (unaudited)
Gold sales of 8,826ozs up from the previous quarter (6,617ozs)
Average realised gold price of US$ 1,096/oz up compared with previous quarter (US$ 929/oz)
Gold recovery of 12,227ozs, up from previous quarter (7,444ozs)
Cash costs of US$584/oz down from the previous quarter (US$1,111/oz) (unaudited)
Capital expenditure during the period was 1.7 million (unaudited)
Signed the Social Assistance Deed and Fiscal Agreement with the Government of Fiji

Great news...bought some more..must be a steel at these levels !

Onward and upwards. Or should that be onward and downwards as it is a mine?! :o)

...The turnaround was partly due to the impact of some planned new equipment but also as a result of the mining of higher grade material (which particularly helped generate a much lower than expected cash cost per ounce). It cannot be guaranteed that such grades will continue being encountered but the gold-in-circuit is expected to be reduced to normal levels in the current quarter and with further equipment and operational benefits still to come, the 1.4p share price continues to fail to reflect the potential production (110,000 ounces per year targeted) and mine life (likely 40 years+). We maintain our 3.7p target price and speculative buy recommendation. www.uk-analyst.com

keep pumping to save the mine.

I like the pumping if it continues to rise, nicely in profit, keep it up willpe.

Every little helps!

RNS from 05 January 2010

Vatukoula Gold Mines Plc
("Vatukoula" or "The Company")
Appointment of Joint Broker



Vatukoula Gold Mines (AIM: VGM), the Fijian gold mining producer, is pleased to announce the appointment of Arbuthnot Securities Limited as joint broker to the Company alongside W.H. Ireland Limited with immediate effect.

Commenting on the appointment, David Paxton, Chief Executive said;

'We're delighted to have appointed Arbuthnot Securities as joint broker to Vatukoula. Their expertise and support will be important as we continue to grow Vatukoula and create further shareholder value.'

Also,

10 fold rise on the way?



Hedge fund firm Toscafund's high-profile founder Martin Hughes is backing online gaming, housebuilders and resource stocks for 2010 but is wary of commercial property and has moved out of retailers.

"Resource stocks are attractive... There may or may not be a bubble in gold (the metal), but if you go back three years gold shares have hardly moved. We expect very favourable announcements."

He said he recently bought into Fijian gold company Vatukoula (VGMS.L).

"Based on management expectations it's on a PER (price/earnings ratio) of just over 1.5 (times), so we expect it to rise 10-fold over the next 12 months."

He also favours online gaming stocks but has switched out of consumer discretionary.

nice one Kim,

Cool ! thanks Kimo.....I'm already 60%+ up so v happy with my investment.....onwards and upwards...

something i picked up on

Minesite today

January 11, 2010
Vatukoula Gold Is Well On The Way To Achieving Production Of 100,000 Ounces Of Gold In 2011
By Charles Wyatt
Colin Orr-Ewing has kicked off 2010 in ebullient form. I have never before, in many years in this game, had a company that is making money, has no borrowing or hedging and has money in the bank. The paragon is Vatukoula Gold, which runs the Vatukoula mine in Fiji and proved to be a problem for several of Colins predecessors. To be precise the company has 8.5 million in the bank in England, and another 1.5 million in a Fijian bank. Warmer and a lot safer than the Iceland banks turned out to be, he comments. In fact Fiji is a good country in which to operate for more reasons than just the weather. It sits on the Pacific ring of fire, English is spoken, rugby foot ball is played and there are strong links with the British army the SAS in particular. Cynics can pooh-pooh these reasons but they make it that much easier to communicate with the authorities - Vatukoula has the support of the government, a three year tax concession on import duties, no VAT on fuel and simply pays a three per cent royalty on gold sales.
Just before Christmas the company issued an operating update for the quarter to end November. This showed that it had recovered 12,227 ounces of gold compared with 7,444 ounces in the previous quarter, a continuation of a rising trend seen since the Vatakoula team brought the mine back into production towards the end of 2008. The advance, however, is significant as the company has now achieved a figure of 5,000 ounces per month. That brings up a target total of 60,000 ounces for this year and makes the 100,000 ounces that the company is shooting for in 2011 seem realistic.
Quite a lot of people would have bet against this achievement, but Dave Paxton, an ex-Gold Fields man and investment analyst who joined the company last year as chief executive has focussed doggedly on the problem areas and this is paying off. For instance, the generators were in a dicey condition so they have been refurbished or replaced, and an outside power generating company is now ensuring a reliable source of power. Early on, an oxide circuit was installed to treat a stockpile of lower grade oxide ore and thus supplement underground production. The underground mining vehicles are also being replaced, and there are four yet to be delivered.

The mine is now producing at an average of at least 500 tonnes per day, as a result of the replaced underground fleet, and there is no doubt that this can be improved on still further, as additional underground earthmoving equipment keeps pace with mining. It is only comparatively recently that a consistent mine plan has come into existence as underground drilling has increased understanding of the near term production stopes. As this proceeds the company should be able to iron out variations in grade and also allow production scheduling to be managed better. Better planning will result in the provision of additional working faces and this, in turn, will boost productivity. Five underground drills are operating at the moment and a similar number are on order to accelerate this process.
Pumping was another problem area which has now been sorted. Previously there were only four pumps and they were working flat out, particularly during some of last year when there was higher than average rainfall. If one pump failed there was a real problem, so there are now two pumps at the major pumping stations underground and another two on surface as stand-by. As a result dewatering is taking place with greater efficiency and the 18 level has now been exposed. It will need some refurbishment, as will the Philip shaft which provides access between the 15 and 18 levels. But as every week goes by the management at the mine gains more experience, and so, when the Fluidised Bed Roaster packed up, it was shut down and overhauled very quickly.
Vatukoula has a current resource of 4.3 million ounces of gold which, as Colin Orr-Ewing admits, will be more than enough to see him out. Even so, exploration is in progress, not only to identify additional resources in the vicinity of the mine but also further afield. In the meantime the 2011 target of 100,000 ounces is drawing in some very shrewd investors. To well-known names on the register are Sprott Asset management and Canadian Zinc Corporation. The overhang from Wally Berukoffs unwelcome intervention is no more, so a listing in Canada might also be on the cards. Colin will not be drawn too far on this, but it appears that Dave Paxton may be going on a roadshow to Toronto before long so there could be something in it.

Beat me to it Micky!

SP heading to where it should be at last. I've held VGM for a while now and have always felt that, with the right management, it could become a force in the gold mining industry again. I think we are just about there. Most of the major problems appear to have been sorted and with a little fine honing, hopefully, production will be uninterrupted and increasing. I would not be surprised to see the SP at 10p or more within the next 6 months. Or sooner.

Another day like today would be very welcome!!

Thanks micky, good report, skyhigh, nice to be 60 % up, I have bought more so not so much in profit as I was. Looking forward to Kim's 10p+

or even 1p perhaps! .... sorry; just feeling more caustic than usual

no no onwards and upwards...you'll miss out..

on it's way to 2p +

A 2p trade has gone through. Perhaps the ascent is a little too rapid, though there's nowt wrong with that if you are a day trader!

lets not forget

The Company's focus is the Vatukoula Gold Mine in Fiji.

Vatukoula (Fiji)


An underground gold mine located in the Tavua Basin, which is within the Tavua volcano in the northern part of the Fijian island of Viti Levu
VGM owns both the mining rights and associated assets of the mine.
Reserves of 858,000 ounces of gold and a resource of almost 5 million ounces gold
There are currently 3 operating shafts and a decline, plus over 450km of underground drives
Vatukoula has an operational history of over 70 years and has excellent infrastructure. Historic production of 7.1 million ounces at 11g/t

Panguma (Sierra Leone)

5,400 hectares containing 2 confirmed kimberlite dykes + a 3rd identified target
Inferred strike length of 4km
Adjacent to Tongo Dyke Field, where US$ 2.75 billion diamonds have been extracted and dyke grades vary from 87cpht to 268cpht
Awaiting renewal of exploration license from the Ministry of Mineral Resources of Sierra Leone

Rio Novo (Brazil)

Located in the Tapajos gold province, central Brazil
The area comprises 4 claims over an area of 30,000 hectares
The area is proximate to the Palito Gold Mine a producing gold mine.

Kao Diamond Project (Lesotho)

The Company owns a 0.46% stake in Global Diamond Resources Plc, the holding company of the 147 million tonne, 10.19 million carat Kao Diamond Project in Lesotho, Southern Africa.