VAN

About VAN

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What does Vango Mining Limited (VAN) do?

Founded in 2004 and based in Sydney, Vango Mining (VAN) has the ambition “to build a sustainable, mid-tier gold production company” and to become a “significant high-grade Western Australian gold miner.”

To achieve this goal, Vango Mining is currently working on two major projects, the Marymia Gold Project and the Ned’s Creek Joint Venture Project.

100% owned by Vango Mining, the Marymia Gold Project is located 300 kilometres northeast of Meekatharra in the mid-west region of Western Australia. At 80% of the Plutonic-Marymia belt, Vango Mining holds a dominant land position across 317 square kilometres of mining leases and 77 square kilometres of exploration tenements. The primary target is gold.

51% owned by Vango Mining, the Ned’s Creek Joint Venture Project is located 150 kilometres northeast of Meekatharra, in the northern Murchison gold field. The project comprises seven tenements with a combined area of 340 square kilometres and targets copper and gold. The other 49% of the project is held by Lodestar Minerals, a gold ore mining company.

Is Vango Mining a profitable company?

No, Vango Mining is not profitable. 

The company has recorded zero revenue, negative net income and negative free cash flow since FY2012. It has simultaneously floated more and more shares in an effort to keep operations going.

Despite this, Vango Mining’s Book Value Per Share increased from 0.02 to 0.03 to 0.04 in FY2019 to FY2020 to FY2021. The company is also free of debt.

Is VAN stock a buy?

Due to recent developments, some investors are bullish.

On 5 April 2022, Vango Mining announced the intersection with high-grade gold from drilling at the Parrot open-pit target at their Marymia Gold Project. According to the company’s ASX announcement, drilling had “returned multiple gold intersections within a significant mineralised structure.” 

Due to the announcement, VAN stock price leapt over 75% from A$0.03 to A$0.053 by 20 April 2022.

Other investors are wary as the company’s financials are weak and it may be too early to tell if there is more gold. The company has stated the gold intercept is “of significant grade and width, and is potentially part of a high-grade zone, which is planned to be targeted by further drilling once the results are fully examined.”

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Does VAN stock pay dividends?

VAN stock has no history of paying dividends to shareholders and has made no announcements to do so in the future.

Who owns VAN stock?

Individual insiders own the majority of VAN stock at 63.6% of the total float. These individual insiders include Non-Executive Director Yanchao Guo (14.5%), Non-Executive Director Zhenzhu Zhang (14.23%), Deputy Chairman Shengqiang Zhou (5.85%) and Executive Chairman Bruce McInnes (5.27%).

Other significant VAN stock owners include Yan Guo (10.55%), Christopher Kuznetsoff (3.73%),

West Trade Enterprises (3.56%) and Real Australia (3.49%).

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