TIDMVGM

RNS Number : 7440N

Vatukoula Gold Mines PLC

11 September 2013

Vatukoula Gold Mines plc.

("Vatukoula", "VGM" or "the Company")

Update on Investment Agreement

Vatukoula Gold Mines plc, the AIM listed gold producer focused on Fiji, provides an update on the investment agreement with Zhongrun International Mining Co. Ltd ("Zhongrun") to provide US$ 40 million of funding to implement the capital investment plan at the Vatukoula Gold Mine previously announced on 12 August 2013.

The first tranche funding of 188,897,000 of new ordinary shares at a price of 6.897 pence per share by the Company for gross proceeds of approximately GBP13 million was subject to the approval of Vatukoula and Zhongrun shareholders.

The Company is awaiting receipt of funds from Zhongrun following these approvals and on receipt will announce the completion of the first tranche and admission of shares to AIM. Zhongrun is awaiting approval of the transfer of funds by the State Administration of Foreign Exchange (SAFE) of the Peoples Republic of China. It is expected that this approval will be received by 30 September 2013.

 
 
   Enquiries: 
 
   Vatukoula Gold Mines plc                    Pelham Bell Pottinger 
                           + 44 (0)20 7440                             + 44 (0)20 7861 
 David Paxton               0643             Charles Vivian             3232 
 Kiran Morzaria                              Daniel Thöle 
 
   W.H. Ireland Limited                        Daniel Stewart 
                           + 44 (0)20 7220                             +44 (0)20 7776 
 James Joyce                1666             Colin Rowbury              6550 
 James Bavister

This information is provided by RNS

The company news service from the London Stock Exchange

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