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Vatukoula Completes Placing – It hurts but the shares are cheap

Tom Winnifrith
Friday 9 November 2012

Vatukoula Gold Mines (LSE:VGM) has today announced that it has completed its botched replacement placing to raise £6.6 million gross from Chinese investor Zhongrun International Mining Co. Ltd at 33p a pop. The shares are now 32.5p. I can understand why folks are giving up on this one. Numerous placings – including this rather botched one ( Zhongrun came into replace another Chinese outfit which did not stump up its promised shekels in a 51p placing) – and numerous project delays. But I would not give up. This was a bad share tip from my t1ps.com days (I am 35% down) but I’d buy more and here is why.

on ADVFN | Comments
About Tom Winnifrith
Bio
Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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