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Corporate Spotlight

A mineral resources company focused on the exploration and development of its 100% owned Plutonic Dome Gold Project in the Mid-West region of Western Australia. It plans to systematically develop the Project's assets into long term gold mining operation.
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13 November 2018

Dear Shareholder

As the Chairman of Vango Mining Ltd (Vango), I wish to clarify certain matters relating to recent public statements made by Dampier Gold Limited (Dampier) and Superior Gold Inc (Billabong).

Put simply, Vango has been subject to considerable pressure from Billabong for some time now.   The current legal proceedings commenced by Billabong is simply the latest attempt by Billabong to continue to impose pressure on Vango. Vango has comfortably withstood this pressure and will continue to do so.  

Vango has always been open to working with other organisations (whether they be major investors, financiers or other mining companies) in relation to the development of Vango’s deposits.  However, it is of fundamental importance to the Board of Vango to ensure that any such arrangements between Vango and those other organisations are in the best interests of Vango shareholders.

It is for this reason that Vango has never entered into any arrangements with Billabong.   Frankly, current management of Billabong has only ever put forward proposals to Vango that disadvantage Vango shareholders.  Having now failed in their efforts to force Vango to enter into an arrangement with Billabong, the current management of Billabong has decided to commence legal proceedings against Vango.  As publicly announced by Vango, such legal proceedings are speculative, without merit and will be vigorously defended.

As you may be aware, over 2 years ago Billabong entered into a transaction with Northern Star Resources Limited (Northern Star) to acquire certain tenements to the south of Vango’s tenements.  Vango had enjoyed a good working relationship with Northern Star and was looking forward to establishing a similar relationship with Billabong.   However, despite Vango’s best efforts in this regard it has become clear to Vango that current Billabong management are only interested in arrangements that would leave Vango with a minority interest in its own tenements.  Naturally, the board of Vango has consistently held the view that such arrangements are not in the best interests of Vango shareholders and has therefore declined to enter into them.

To put pressure on Vango to enter into unfavourable arrangements, Billabong has from time to time created physical impediments to Vango’s access to its tenements.  This has included physically blocking the road leading from the main highway to the southern end of Vango’s tenements.  In doing this, Billabong has apparently ignored the fact that Northern Star is the legal owner of the relevant tenements and that Vango has the legal benefit of a road access agreement with Northern Star.

Around July 2017, Billabong decided to block a road at a creek crossing by building a wall of dirt and rock dredged from the creek bed for up to 300 meters either side of the creek crossing.  This resulted in both environmental damage and Aboriginal heritage damage and was reported to the Department of Mines and Petroleum (DMP) by the local pastoralist (amongst others).  A party also dug a trench across the road which runs to the southern part of Vango’s tenements (the trench itself being on Vango’s tenements), which if a vehicle drove into such trench could cause serious injury or death. 

In September 2018, Billabong and/or its contractors cut an access road 1.5km through Vango tenements without approval from either Vango or the DMP. Vango has reported this to the DMP.

Vango understands that Billabong’s ore treatment plant is running low on ore and Billabong’s announcement planned for early this Wednesday morning (Sydney time) might well confirm this.  If this is the case, then Billabong’s urgency in attempting to force Vango into an arrangement which is unfavourable to Vango shareholders may be intended to prop up flagging ore volumes at Billabong’s ore treatment plant.  

The register maintained by DMIRS shows that Billabong is not the registered holder of the tenements the subject of the Billabong acquisition from Northern Star. It is possible that over 2 years following the announcement of the acquisition Billabong has not yet paid the entire purchase price to Northern Star.  Billabong’s current cost of operations appears to be in excess of the revenue derived from those operations leading the Board of Vango to consider whether the aggressive approach adopted by Billabong is seen as being necessary to secure rights to Vango’s ore and provide a path forward for Billabong to repay the remaining purchase price to Northern Star.

Vango remains open to considering arrangements with a range of organisations, however such arrangements can only be on terms which are favourable to Vango shareholders.   Clearly, this includes the Board of Vango being confident that the other organisation has management that Vango can work with.

Vango will continue to work towards the development of its deposits and generating increased value for shareholders.

Yours faithfully

Mr Bruce McInnes

Executive Chairman


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ASX Announcement 13 November 2018

for supply of equipment from a major engineering company


  • Vango Mining continues to advance preparations and discussions to fast-track the Plutonic Dome (Marymia) Gold Project into production. 
  • Memorandum of Understanding signed with China ZhengHe Industrials Limited (“China ZhengHe Industrials” or “ZHSY”) for the supply of equipment to Vango Mining. 
  • China ZhengHe Industrials is a leading organisation in the Shandong Province with its current scope of business covering Engineering, Construction, and Mining / Processing Equipment supplies with annual revenue in excess of USD1 billion.

Gold exploration and development company Vango Mining Limited (“Vango” or “the Company”) continues to advance preparations to take the Company’s 100%‐owned Plutonic Dome (Marymia) Gold Project (”the Project”) in the Mid‐West region of Western Australia into production. 

Currently there are a number of drilling rigs and crews, both RC and Diamond Drilling, on site conducting drilling operations targeting the Cinnamon, Trident and Trident West deposits inclusive of Geotechnical drilling. This program is scheduled to continue operations through this current quarter with results being released when they become available.

In addition to the ground field works, Vango Mining has advanced with Como Engineering the design, engineering and feasibility study works for the construction and operation of a stand‐alone Company owned and operated Gold Processing Plant as previously announced.

In conjunction with the above, Vango Mining has entered into a Memorandum of Understanding with China ZhengHe Industrials to supply Vango Mining with a one stop shop solution for all mining and processing plant technical support, equipment supply, purchasing, financial leasing and related BOT business models.

Founded in 2004, China ZhengHe Industrials is a leading organisation in Shandong Province with its current scope of business covering Engineering, Construction, and Mining / Processing Equipment supplies with annual revenue in excess of USD1 billion.

Mr Bruce McInnes (Executive Chairman) commented “both parties have enjoyed a strong relationship and the signing of the MOU has followed a lengthy period of discussions. Signing of the MOU now allows a period of confidential due diligence by both parties with a planned business model proposal to be submitted, followed by a Formal Cooperation Agreement to be ready for sign off during Q1 2019, pending any required State or Federal Statutory approvals”.

Vango Mining believes that the support and experience available and provided to date from ZHSY, would assist the Company to advance the current targeted projects into production in a timely manner with the knowledge that the Company has a working partner to provide the latest design/technical, engineering, construction, processing and mining equipment, including autonomous equipment.

In addition, Vango Mining also has a mandate in place with DJ Carmichael (“DJC”) and the Company has held numerous positive discussions with global project financiers over the last several months regarding the development of the Project.

Click here to view the full announcement 


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ASX Announcement 8 November 2018 

and Geotechnical Drilling for Shallow Open Pit Design at Trident West and New Underground Portal Access to the Trident Main High-Grade Zone 


  • Additional drilling at Trident to define shallow resources for Trident West pit and portal planning 
  • Geotechnical drilling at Trident to determine open-pit/portal access mining parameters 
  • Cinnamon down plunge extension drilling switched from RC to pre-collared diamond, in progress

Gold exploration and development company Vango Mining Limited (“Vango” or “the Company”) is continuing its drilling and development programme at the Trident high-grade gold deposit, with RC drilling and geotechnical diamond drilling underway to define the near/at surface expression of the high-grade gold mineralisation at its Trident Gold Project on its 100%-owned Plutonic Dome (Marymia) Gold Project (”the Project”) in the Mid-West region of Western Australia (See location Figures 1 & 4).

The purpose of the resource definition and geotechnical drilling is to provide information to determine the viability of developing an open pit and underground portal access point on the shallow mineralisation at the western end of the Trident gold deposit, referred to as Trident West (see Figure 1). This proposed initial open pit at Trident West would serve two purposes, including:

  1. providing initial processing feed for the proposed stand-alone processing plant at the Project, 
  2. providing access for a decline from which to develop the very-high grade underground core of the Trident gold deposit.

A further five RC and possibly pre-collared diamond drillholes will further test the shallow, up-plunge, projection of the Trident gold deposit to the west of the very-high grade core of the deposit that was drilled previously (see plan view Figure 1 for location). 

Very high-grade gold mineralisation in the Trident gold deposit is associated with a “ramp” or flexure in the ultramafic hosted shear structure, that plunges shallowly from southwest to northeast (see Figure 1) and projects to surface, actually outcropping on cross section 19,180mE (see cross sections 19,180mE, Figure 2, and 19,200mE, Figure 3). The Company plans to complete the additional drilling on 20m spaced sections to allow Indicated Mineral Resource estimation for open pit mine optimisation and planning, and to update the Mineral Resource estimate for the deeper, very high-grade gold mineralisation.

The geotechnical drilling programme will include four HQ3 diameter diamond drillholes within the proposed open pit target area at Trident West (see Figure 1), the principal purpose of which will be to determine ground conditions and test structures that will impact on open pit wall angles and stability and assist the design and optimisation of the proposed open pit/portal access.  

In addition to Trident, the drilling of the down-plunge extensions of the Cinnamon gold deposit has been modified to include two to three pre-collared diamond drillholes to ensure target depth is reached and to generate structural information on the deeper extensions of the deposit. The first of the latest pre-collared diamond drillholes has been completed (VBGRCD003) having intersected mineralisation in the target zone, and results will be reported in due course.

The Company’s strategy is to add further resources to the Project’s development pipeline, which currently includes the Trident high-grade gold deposit as the primary target.

Vango aims to develop the Project into a significant, stand-alone, gold mining and processing operation with outstanding upside potential to continually build the high-grade gold resource base.

Click here to view the full announcement


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ASX Announcement 19 October 2018


  • RC drilling has commenced testing geochemical drilling anomalies at Apex Gold Prospect, then, 
  • RC and diamond drilling to test down plunge extensions of high‐grade gold shoots at Cinnamon.

Gold exploration and development company Vango Mining Limited (ASX:VAN, “Vango” or “the Company”) has commenced the next phase of drilling at its 100%‐owned Plutonic Dome (Marymia) Gold Project (”the Project”) in the Mid‐West region of Western Australia (See Figure 3 for location).  

Apex Drilling Commenced: 

A three hole reverse circulation (RC) drilling programme has commenced at Apex, targeting the potential source of gold nuggets identified by prospecting activity (see ASX release 12 August, 2018) and anomalous gold in geochemical drilling recently completed.  

The geochemical drilling was completed on a 50m x 50m grid and analytical results identified broad areas of anomalous gold up to 3.8 g/t Au from 0‐2m depth in the region of strongest gold nugget concentration and coarse gold in bedrock sampling (see Figure 1, maximum gold and potassium alteration plan).    The drilling is designed to test intersecting structures trending northwest and northeast which potentially control the gold mineralisation in the area.    The results will allow the planning of more extensive drilling within the prospect to determine the potential size of this system.  

Cinnamon RC and diamond Drilling: 

Following the completion of the initial drilling at Apex, up to five drillholes, including three RC only holes and two pre‐collared diamond holes will be drilled at the Cinnamon gold deposit.    

These holes are designed to test for extensions to high‐grade shoots identified in previous drilling within the prospect and interpreted to be open down plunge across a >200m strike length (see longitudinal projection Figure 2).

The Company is also generating targets within the 2.4km strike length Cinnamon to Cobalt Prospect for further drill testing.

Click here to view the full announcement


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ASX Announcement 13 September 2018


  • High Grade gold results have been received from two initial diamond drill-holes completed at the Cinnamon gold deposit 
  • Drilling has enhanced the potential of Cinnamon as a near-term development asset at Vango’s Plutonic Dome Gold Project (Marymia) in the Mid-West region of WA 
  • Highlight results include: 


  • 10m @ 2.69 g/t Au from 106m including 0.9m @ 10.31 g/t Au & 2m @ 8.5 g/t Au, and, 
  • 5m @ 3.03 g/t Au from 128m including 2m @ 5.64 g/t Au, and, 
  • 2m @ 20.78 g/t Au from 164m and, 
  • 4m @ 3.14 g/t from 179m including 2m @ 5.35 g/t Au from 180m. 


  • 19m @ 3.04 g/t Au from 74m including 10m @ 4.06 g/t Au. 
  • Wide intervals of shearing, alteration & elevated gold in both holes indicate a large mineralised system with potential for extensions and repeats of Cinnamon’s gold mineralised zones.

Gold exploration and development company, Vango Mining Limited (ASX:VAN), today announces broad, high-grade, gold intersections from its initial drilling programme at the Cinnamon gold deposit, at the 100%‐owned Plutonic Dome Gold Project (“Plutonic Dome”) in the Mid-West region of Western Australia (See inset Figure 1 for location and Figure 5 for Plutonic Dome geology).

This initial diamond drilling programme was designed to test and extend existing gold mineralised zones and provide geological information to characterise and identify the potential controls on the mineralised system. This initial programme of two diamond drill-holes, for 600m of drilling, was completed early this month.

The diamond drilling has successfully confirmed the high-grade mineralisation at Cinnamon that extends for 2.4km to the northeast in the direction of the Cobalt prospect. Significant gold has been identified at the Cinnamon, Budgie and Cobalt prospects along this 2.4km strike (see Figure 1). Further drilling is planned to better define and extend the Cinnamon gold mineralised zones and target further discoveries along the strike of the conglomerate, and to further enhance Cinnamon’s potential as a near-term development asset.

Key gold intersections produced from these initial two diamond drill-holes at Cinnamon include: 

VBGRCD0001 (see cross section Figure 3): 

  • 10m @ 2.69 g/t Au from 106m including 0.9m @ 10.31 g/t Au & 2m @ 8.5 g/t Au from 114m, 
  • 5m @ 3.03 g/t Au from 128m including 2m @ 5.64 g/t Au from 131m, 
  • 2m @ 20.78 g/t Au including 1m @ 38.8 g/t Au from 164m, and, 
  • 4m @ 3.14 g/t from 179m including 2m @ 5.35 g/t Au from 180m. 

VBGRCD0002 (see cross section Figure 4): 

  • 19m @ 3.04 g/t Au from 74m including 10m @ 4.06 g/t Au from 79m.

Drill-hole VBGRCD0001 intersected several, separate, mineralisation zones including an upper intersection of 10m @ 2.69 g/t Au, that contains a post-mineralisation dolerite intrusive which has likely reduced the average grade of this zone, and a lower zone that includes two intersections separated by subgrade material of 2m @ 20.78 g/t Au from 164m and 4m @ 3.14 g/t Au from 179m.

Drill-hole VBGRCD0002 produced a broad and high-grade gold intersection from the upper zone, of 19m @ 3.04 g/t Au from 74m incl. 10m @ 4.06 g/t Au, and several gold anomalous zones deeper in the hole (Table 2). The gold mineralisation is associated with shearing within the chlorite-biotite altered matrix of a conglomerate unit. The conglomerate mostly consists of granodioritic clasts within the mafic dominant matrix.

These two diamond drill-holes have confirmed the general location of higher gold-grades as previously indicated by reverse circulation (RC) drilling in oxide-transition and fresh material.

The drilling also confirms the presence of high-grade shoots of gold mineralisation within a lowergrade envelope in both the upper and lower zones. The mineralised structures appear to be more steeply dipping in the primary zone than previously interpreted from RC drilling (see cross sections Figures 3 and 4).

Click here to view the full announcement


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Executive Chairman

Bachelor of Commerce (Accounting) – University of New South Wales

Experienced and successful executive, whose business interests encompass the mining, finance, accounting and agricultural sectors.

Mr McInnes was instrumental in acquiring 100% of the Plutonic Dome Gold Project, building the executive and consulting team and overseeing the growth of the company from an undiluted enterprise value of $1.3m to a current capitalisation in the order of $95.09m.

Email: [email protected]


Managing Director

Bachelor of Commerce (Accounting) – University of Sydney

Masters in Project Management – University of Sydney

Mr Zhou’s insights are invaluable to the Company as it moves towards production.

He has expertise in the perplexing subjects in funds management, project management, and investment banking with a particular focus on infrastructure investment in Asia Pacific Region.

Email: [email protected]


Non-Executive Director

PhD in Management, Science and Engineering – Tianjin University, China

An Associate Professor of science and technology who lectures in logistic management, Dr Zhang brings to Vango Mining a broad range of experience in management and logistics.

She is of great benefit to the Board as the Company moves towards being a major gold producer.

Email: [email protected]


Chief Consulting Geologist

B.Sc Hons H1, Geology, First Class Honours - University of Melbourne

Fellow of the Australian Institute of Mining and Metallurgy

A geologist with more than 30 years' background and a strong track record of exploration discovery during his 20-year hands-on roles with WMC Resources and MPI Mines.

Mr Dugdale was instrumental in the >1 million ounce Golden Gift discovery at Stawell in Western Victoria, for which he jointly received the Joe Harms Medal for "distinguished excellence in mineral exploration and contribution to the discovery of ore deposits". Vango Mining's Chief Consulting Geologist also has 10 years corporate sector experience as a resourcesanalyst and investment manager with ASX-listed Lion Selection Group and as Managing Director of ASX-listed resources company's Mindoro Resources Ltd and Red Mountain Mining Ltd.  Mr Dugdale is currently Managing Director of ASX-listed Peninsula Mines Ltd.

Email: [email protected]

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