Vangold Resources / VAN (CVE)

- Eine Perle im Explorerbereich-

Vangold Resources (ISIN CA92202C1068 / WKN 358668 / TSX: VAN)

Besonders gut gefällt mir bei Vangold Resources, dass das Unternehmen nahezu das gesamte Explorationsspektrum abdeckt, von Gold über Kupfer bis hin zu Öl und Gas.

Die in Vancouver, Kanada, ansässige Vangold Resources Inc. ist ein sehr breit aufgestelltes Explorationsunternehmen, das Öl-, Gas-, Edel- und Basismetallvorkommen auf 15 Liegenschaften in 3 Ländern exploriert.

Zwei Projekte produzieren bereits Öl, wenn auch in geringem Umfang. Zwei weitere Projekte stehen kurz vor der probeweisen Aufnahme der Gasproduktion. Mit den produzierenden Öl- und Gasquellen ist Vangold bereits in der günstigen Lage, einen Teil seiner Explorationskosten selbst zu erwirtschaften

Die Öl- und Gasvorkommen liegen in Kanada (Alberta) und USA (Kalifornien, Texas).

Außerdem hat Vangold sieben sehr attraktive Goldprojekte in Papua Neu Guinea sowie ein weiteres Goldprojekt in Rossland, Kanada. Vangold ist damit der zweitgrößte Explorer in Papua Neu Guinea.

Ich habe auf Sicht von 1 Jahr ein Kursziel von 0,60 Euro, langfristig dürfte mehr drin sein.

HANDELSBLATT, Donnerstag, 29. Dezember 2005, 14:34 Uhr

Notierung nimmt Kurs auf Rekordhoch

Gerüchte um Käufe von Notenbanken treiben Goldpreis

Der Goldpreis hat gestern seine Klettertour erneut aufgenommen. Im europäischen Handel verteuerte sich die Feinunze Gold um über sieben Dollar und zog auf mehr als 516 Dollar an.

DÜSSELDORF. Auf der Käuferseite standen erneut Fonds, hieß es in Marktkreisen. Noch höher hatte Gold Mitte Dezember notiert, als es mit über 540 Dollar so teuer war, wie seit über 25 Jahren nicht mehr. Einsetzende Gewinnmitnahmen hatten den Preis dann für kurze Zeit aber zeitweise bis unter 500 Dollar gedrückt.

Das neu erwachte Interesse begründeten Händler mit der insgesamt positiven Stimmung für Gold, aber auch mit Sorgen über eine mögliche Abschwächung der Weltkonjunktur. In wirtschaftlich unsicheren Zeiten suchen Investoren Gold nach wie vor als „sicheren Hafen“.

Die jüngsten Gewinne des Edelmetalls führen Experten daneben auf Spekulationen zurück, dass einige Zentralbanken den Goldanteil an ihren Währungsreserven erhöhen könnten. Absichten in dieser Richtung haben bereits Russland, Südafrika und China geäußert. „China könnte in absehbarer Zeit seine Goldbestände um 600 auf 2 500 Tonnen erhöhen“, sagte Teng Tai, ein Ökonom von China Galaxy Securities nach Angaben der offiziellen chinesischen Nachrichtenagentur Xinhua.

Bisher haben gerade asiatische Notenbanken schwerpunktmäßig auf den Dollar gesetzt. Bei europäischen Zentralbanken entfällt dagegen meist ein erheblicher Anteil der Reserven auf Gold. So liegt etwa der Anteil des Edelmetalls in Deutschland bei gut 50 Prozent. In der Volksrepublik China sind es hingegen zurzeit nur 1,1 Prozent, in Russland und Indien jeweils 3,6 Prozent. Selbst die reichen Staaten des Gulf Cooperation Council (GCC) sind nach Beobachtung von Eberhardt Unger von der unabhängigen Analysegesellschaft Fairesearch in Gold unterinvestiert. In Saudi-Arabien stelle es gerade einmal 7,4 Prozent und in Qatar 0,2 Prozent der Reserven. In Kuwait sind es immerhin 11,6 Prozent; die Zentralbank hat den Anteil erst vor wenigen Wochen aufgestockt.

„Das zunehmende Risiko eines Kursrutsches der in Dollar gehaltenen Währungsreserven könnte die Notenbanken zum Umdenken anregen, insbesondere im Fernen und Nahen Osten“, erwartet Eberhardt Unger. Er hält daher Gold für eine „aussichtsreiche Depotergänzung“. Auch Robert Cameron, Goldhändler von Mitsubishi International Corp erklärt den jüngsten Preisanstieg mit Diskussionen um die Aufstockung der Goldreserven in Asien. „Das treibt die Spekulation am Markt an“, sagte er gegenüber Bloomberg News.

...schöner Ausblick für das kommende Jahr

Frohes und erfolgreiches neues Jahr 2006!

Schon ein paar Tage alt aber fasst alles über Vangold zusammen.

Vangold Resources’ High-Octane Formula for Success Offers a Perfect Mix of Exponential Revenue Growth and “Blue Sky” Opportunities

By Marc Davis, Managing Editor
November, 2005

Vangold Resources Ltd. (TSX.V-VAN) is a dynamic, cash flow-positive Canadian natural resources company that benefits immeasurably from an enterprising, high-octane growth formula. Indeed, early-stage successes at several high impact oil & gas projects are already beginning to build significant intrinsic value into the Company’s share price. This is illustrated by the soon-to-be-realized advent of exponential revenue growth which is projected to increase more than twenty-fold to around the Cdn. $1 million a month mark by the end of Q2 of 2006.

Meanwhile, Vangold’s (http://www.vangold.ca/) internationally diversified portfolio of prospectively world-class mineral assets also offer investors tremendous “blue sky” opportunities. In particular, at least two of the Company’s jointly-held, advanced-stage Papua New Guinea gold projects exhibit “multi-million ounce potential,” according to brothers David and Eric Coffin, two of the investment industry’s most well-regarded independent mining analysts and newsletter writers. Notably, both well-mineralized properties are situated in close proximity to two of the world’s most prolific gold and gold-copper mines. Of equal importance, they also benefit from the same geological environment and exhibit comparable geological footprints to these “elephant-sized” mines.

In essence, all the right dynamics are in place to power Vangold’s emergence as a resource investment tour de force during an across-the-board historic bull market for natural resources. Accordingly, SmallCapMedia has selected Vangold for special consideration as we view this to be a considerably undervalued equity that is primed for a news-driven breakout in the coming months.

Strategy of Diversification Leads to Lucrative Oil & Gas Finds

First, let’s focus on where nearly all of the action is these days in the stock markets – the oil & gas sector. And that’s where Vangold has made a very smooth transition and has found true meaning in the old adage: “Success breed success.”

In fact, since its first foray into oil & gas exploration in early 2002, Vangold has reinvented itself as a hybrid natural resources development company that has tapped into a rich pool of opportunities. It’s a rare accomplishment as only a tiny handful of other junior mining companies have proved sufficiently shrewd and visionary to embark upon a similar company-building strategy. But only Vangold can likely boast of such an impressive track record to date.

Starting with a minority 3.75% gross interest in several producing natural gas wells in the East Corning Field in the Sacramento Basin in California, Vangold has benefited for at least three years from cash flow payouts that now average of approximately Cdn. $50,000 per month. This project represents a mere fraction of the projected revenues that the Company is on the fast-track to generating.

For instance, Vangold has a 26.25% participating interest in the Killam Oil Project leases in the Culane Oil Field in central Alberta. An initial test well drilled in January of this year proved successful and has been producing approximately 120 barrels of oil per day (bpd) for nearly a year. The Company and its partner subsequently acquired and closely studied extensive 2-D and 3-D seismic data to develop a better understanding of the size and scope of the hydrocarbon-rich formations in this oil field. Their findings proved so encouraging that they are now planning to drill up to 14 additional horizontal legs (wells) at Killam prior to the year’s end. In addition, two water injection wells are also scheduled for spudding.

Up to an equal number of additional wells could be developed on this property in 2006. On this note, the Company’s management estimates that a best-case scenario may translate into monthly revenues for Vangold of up to Cdn. $600,000 per month for this one project, alone, by the end of Q2 of 2006. All told, the Culane Oil Field is believed to host an estimated 4-5 million barrels of oil from which Vangold’s projected interest could in due course top 900 bpd. This is based on the assumption that up to three dozen more wells may eventually be successfully developed – each with flows of 100 to 200 bpd.

Another Rich Natural Gas Find?

Most recently, Vangold’s winning streak received another boost by way of the Company’s participation in another high impact natural gas project, immediately west of the major city of Calgary. Situated on the largely-unexplored T’ina First Nation (Sarcee Indian Reserve), this land package bisects a major north-south geological trend or belt that hosts numerous producing oil & gas fields or pools. In fact, in nearby lands to the south, Shell Canada operates two wells that have accumulatively produced in excess of 180 billion cubic feet of gas since their discovery in the 1950s. And they are still going strong. In fact, Vangold’s jointly-owned test well is considered an offset well to Shell’s two big producers.

So it comes as no great surprise that a gas pool has been encountered at Sarcee that contains an estimated 20-30 billion cubic feet of gas per well. This translates into up to 120 bcf of gas based on the prospect of four wells being put into production. These figures are based on an independent evaluation of preliminary test information, including 3-D seismic interpretations and well logs. Vangold has a 9.8% working interest in the four-section 2,560-acre petroleum lease, known as the Sarcee Project. Notably, the Company’s management believes that this one well, alone, could enhance revenues by a further Cdn. $150,000 to $250,000 per month. Furthermore, up to three more contingent wells can be drilled by the consortium on this acreage, in which Vangold has the option to maintain its 9.8% working interest.

Another prospectively lucrative money-spinner among Vangold’s much-envied portfolio of nine North American oil & gas projects is the Strachan Field natural gas prospect near Rocky Mountain House in Alberta. The Company has a 9.166% working interest in this prospectively major gas pool. A test hole completed by the project operator last summer is currently being evaluated. Its “tight hole status” designation (a high level of operational secrecy) augers well for the prospect of a prolific flow rate. If successful, up to three more contingent wells may also be drilled in 2006.

Multi-Million Ounce Advanced-Stage Gold Prospects in “Elephant Country”

With the prospect of Vangold hitting its stride with oil & gas revenues reaching Cdn. $1,000,000 a month or better by Q2 of next year, the Company will be ideally positioned to aggressively develop its various advanced-stage gold and copper-gold properties. In this regard, Vangold has sizeable direct and indirect interests (typically around a 50% ownership) in six gold projects and one copper-gold project in Papua New Guinea. Most of which are advanced stage projects that benefit from well-defined, well-mineralized discovery zones.

Collectively, the properties cover an area exceeding 1,700 square kilometers in this South Pacific island chain. Of particular importance, approximately Cdn. $22 million has already been spent by past operators of these properties, bringing the bulk of the most prospective gold discovery zones to a drill-ready status. On this note, the Company has recently purchased its own diamond core drill rig. As of December of this year, it will be dedicated to a year-long program of delineating further mineral resources at the Company’s premier project areas. Encouragingly, all of Vangold’s Papua New Guinea projects encompass gold-camp-sized properties. Moreover, they are all situated in one of the most geologically fertile and prolific gold belts in the world.

The flagship prospects include the Mount Penck and Feni Islands properties. They each exhibit “multi-million ounce potential,” according to the renowned independent mining analysts and investment newsletter writers, brothers David and Eric Coffin. Previous extensive developmental work has revealed that the various mineralized systems discovered to date demonstrate high bulk tonnage grades over very wide intercepts. Even very high-grade “bonanza” drill intersections have been encountered in certain particularly mineral-rich zones, suggesting the possible presence of deep-seated feeder zones. Indeed, a multitude of various corroborative exploration results point to the presence of an emerging major gold system, of which the Kavola East prospect is the best explored to date.

“The Kavola East target at Mount Penck could easily host a huge deposit…” say the Coffins in their Vanguard Review newsletter. Accordingly, this one key mineralized zone and the adjacent Koibua zone will be the initial focus of an upcoming diamond core drilling program. Vangold has a 40% indirect interest in the Mount Penck Property.

Interestingly, the Kavola East discovery zone constitutes only a small part of the known parameters of Mount Penck’s mineralized systems. And even though this one prospect covers at least two square kilometers, it still has plenty of scope for expansion. Thus far, past drilling and trenching programs have consistently returned rich ore-grade mineralization and a preliminary inferred gold resource base has already been outlined by previous operators. Hence, Vangold and its joint venture partner intend to build upon this now out-of-date resource figure by way of an imminent grid-based program of infill and step-out drilling. As mentioned earlier, this drilling is expected to be ongoing for at least 12 months and is also likely to include the other half dozen or so adjoining target areas – all of which could go a long way to further expanding the property’s gold resources.

Meanwhile, a total of seven holes drilled at Kavola East in 2004 by Vangold’s joint venture partner, New Guinea Gold, produced some tantalizing hints of things to come. These results include 72 metres of 1.79 g/t of gold, and 12.9 g/t of silver, including 43 metres of 2.35 g/t of gold. Bonanza grades were also encountered including 2 metres of 36.7 g/t of gold at a depth of only 68 metres. Past trenching has also revealed consistent grades of up to 97 metres of 3.39 g/t of gold and 131 metres of 2.35 g/t of gold in certain sweet spots.

These results bode well for the emergence of a large, near-surface ore body that is amenable to bulk tonnage open-pit mining. Likewise, the property also offers both the potential for narrow, high-grade mineralization, particularly at depth. It is therefore worth noting that during the last phase of drilling mineralization was encountered to a depth of 160 metres and remains “open” (continuous) at depth. Most importantly, the upcoming drilling is expected to be sufficiently extensive to allow NI 43-101 compliant resources to be calculated (more in this later).

Similarly, the Koibua Prospect benefits from several potential bulk tonnage mineralized zones including a near-surface structure averaging 55 metres of 2.75 g/t of gold. It also includes select bonanza grades, such as 3 metres of 37.04 g/t of gold. This prospect is also open at depth.

Of special significance is the fact that the fracture zone in the earth’s crust that created the Papua New Guinea island chain also produced a golden corridor that includes some of the world’s most prolific deposits. Most notably, they include the Lihir Gold Mine, which boasts an inventory in excess of 40 million ounces of gold. This is particularly relevant as it seems that the Mount Penck Property exhibits very similar geological characteristics to the epic Lihir Gold Mine.

In the Company of Giants

However, it is actually the Feni Islands Property that is most worthy of compelling comparisons to the Lihir Gold Mine. Specifically, the 37-square-kilometre Feni Islands land package (spanning two small islands that are separated by a narrow strait) lies at the centre of the Lihir Corridor. This is a major structural trend that hosts two of the world’s most impressively-sized gold and gold-copper mines. In actuality, the Lihir-Bougainville Corridor is a highly active volcano belt where gold is deposited as part of the volcanic activity at and near surface from mineralized fluids that emanate from hot springs.

Situated on each side of the Feni Property are the Lihir Gold Mine and the Bougainville Mine. The latter hosts over 16 million ounces of gold and 5 million tones of copper. Most importantly, the Feni Property’s mineralized zones are very similar in grade, mineralology, and alteration to the discovery zones that led to the development of the Lihir Mine. Vangold holds a direct 50% interest in these claims and has the option to earn up to a 75% stake.

The presence of a number of well-defined targets and an already established drill-inferred resource base further attest to the property’s highly prospective potential. Indeed, a past operator sunk no less than 180 drill holes spanning 16,413 metres to arrive at a preliminary inferred resource estimate. Yet, this calculation cannot be elaborated upon within this article as it is now out-dated and does not conform to Canadian National Policy 43-101 guidelines – a Canadian federal government recognized standard of a “measured resource”.

However, a more recently drilled new discovery zone that was located by Vangold’s joint venture partner to the north-east of the property’s main Kabang mineralized structure reveals some of the property’s overall potential. Drill highlights include an intersection of 52 metres of 2 g/t of gold within 188 metres of 1.2 g/t of gold. All told, there are over 40 known gold occurrences at the Feni Islands Project area, most of which are as yet untested. Hence, a program of systematic geochemical sampling, ground-based geophysics, and trenching will be conducted in the near-term with a view to identifying more high-priority drill targets. Again, the Feni Islands Property offers the potential for a world-class discovery.

As previously mentioned, Vangold also has a major interest in nearly half a dozen other Papua New Guinea properties – in all of which extensive mineralization has been uncovered. Again, nearly Cdn. $22 million has been spent developing these properties, mostly by past operators of these projects. But this figure also includes several million dollars worth of exploration conducted during the last few years by Vangold and its joint venture partner. All of these other properties will be more thoroughly investigated with a view to identifying high-priority drill target within the foreseeable future.

Untapped African Copper and Gold

By continuing to adhere to a strategy of strength through diversification, Vangold has also recently acquired an option to earn a 100% interest in seven copper-cobalt properties in western Uganda that encompass 80 square kilometres.

Five of the most prospective licenses are in the same concession that hosted the former prolific Kilembe Mine that produced over 16 million tonnes of ore grading 1.98% copper and 0.17% cobalt. Furthermore, infrastructure is in place at the Kilembe Mine, as well as an extraction facility at Kasese (near Kilembe) for recovery of cobalt from pyrite mill tailings. These various properties are in a very similar geological environment.

Past early-stage exploration work has identified mineralization that was never followed-up on due to the deterioration of Uganda’s political situation under the rule of the dictator, Idi Amin, in the 1970s. The remaining five other properties also exhibit the potential for gold discoveries also and are likewise to be found in the southwest extension of the Kilembe Mine belt.

Investment Summary

On a corporate note, Vangold’s long-standing president, Dal Brynelsen, has more than 35 years in the mining business to his credit. He also has the rare distinction of having been instrumental in the discovery and development of two mines, while he has also financed many others. Notably, the Company’s directors and management collectively offer shareholders well over a century’s experience in the mining business. And they, too, have also earned accolades for the discovery and development of no less than 15 other mines.

From a technical perspective, the Company has approximately 46.1 million shares outstanding (about 66.4 million shares fully diluted) – a scenario that typically translates into good daily trading volumes. Having said that, the stock’s daily float is smaller than it may seem as up to 60% of the Company’s equity is owned by institutional investors, according to Vangold’s management. This is particularly encouraging as it demonstrates the extent to which sophisticated money managers are willing to put their seal of approval on Vangold’s unorthodox, yet very successful, business model.

It is also worth pointing out that the Company’s currently undervalued stock is underpinned by very strong fundamentals, such as fast-growing oil & gas revenue streams. Indeed there’s no shortage of key value drivers that promise to soon converge to ensure this Company’s bright future. Not the least of which is the likelihood of plenty of positive news flow, which should establish a sustained uptrend for Vangold’s share price.

And the very real prospect of up to several “home run” gold and/or oil & gas discoveries over the next 12 months may yet catapult the Company to much higher share price multiples. Hence, SmallCapMedia believes that Vangold Resources will prove to be a strong performer during the balance of 2005, while next year should surely be a banner year. We therefore intend to keep our readers closely apprised of this Company’s rising star.

© 2005 SmallCapMedia.com

Gruß Heinz

Hallo

Der große Vorteil und die Klasse von VAN liegen doch darin, dass die sprudelnden Öl- und Gasquellen nicht in politisch unsicheren Staaten wie Irak, Nigeria, Venezuela (Chavez) oder Kasachstan liegen sondern in den USA Und in Kanada!

Gruß Heinz

Hallo,

und heute ein paar Nachrichten zu den Gold-Explorationsgebieten von Vangold. VAN hat sechs Goldprojekte und ein Kupfer-Goldprojekt in Papua-Neuguinea. Zusammen umfassen die Liegenschaften einen Bereich von 1.700 Quadratkilometern in dieser pazifischen Inselkette. Erste Bohrungen erbrachten Wahnsinnsgoldmineralisierungen bis zu 37 g/T. Und das ist erst der Anfang.

Gruß Heinz

Edelmetallmärkte starten durch

von Claus Hecking, Frankfurt

Die Edelmetallmärkte schlagen Kapriolen. Der Goldpreis schoss im Handelsverlauf um fast 14 $ bis auf 530,60 $ je Feinunze (31,1 Gramm) nach oben. Palladium verteuerte sich zeitweise um mehr als fünf Prozent auf 267,50 $. Silber legte fast drei, Platin knapp zwei Prozent zu.

" Die Märkte ziehen schon wieder brutal an: Solche massiven Bewegungen wie zuletzt hat es seit Jahren nicht mehr gegeben" , sagte Gerhard Single, Rohstoff-Experte der BW-Bank am Dienstag. Im November und in der ersten Dezemberwoche hatten sich die Edelmetalle schlagartig verteuert, bevor es in den beiden Wochen danach fast ebenso steil bergab ging. Nach den jüngsten Kursgewinnen notieren sie jetzt aber erneut in der Nähe langjähriger Höchststände.

" Es könnte sein, dass wir einen Gesinnungswandel bei großen Investoren erleben" , erklärte Single den Boom. Zurzeit deute vieles darauf hin, dass institutionelle Investoren anfingen, den Anteil der Edelmetalle in ihren Portfolios deutlich anzuheben. Bestätigt sich diese These, so könnte das die Märkte über Jahre hinweg stützen.

Neue Inflationsängste beflügeln Kurse

Mitverantwortlich für den gestrigen Kurssprung war der Höhenflug der Energiepreise, der die Inflationsängste neu schürte. Gold gilt traditionell als Schutz gegen Geldentwertung. So verteuerte sich Rohöl um mehr als 2 $ je Barrel. Auch die Preise für US-Benzin, britisches Erdgas und deutschen Strom legten kräftig zu.

Zwar hätten die Edelmetallkurse in den vergangenen Monaten bereits einiges an Inflationsbefürchtungen eingepreist, sagte Tobias Merath, Rohstoffexperte von Credit Suisse. Doch ein so starker Anstieg der Energiepreise wie am Dienstag heize die Teuerungsängste neu an. Merath glaubt trotzdem nicht an eine Fortsetzung der Edelmetallrally: Der Goldpreis etwa werde sich in den kommenden Wochen zwischen 500 und 525 $ einpendeln.

Aus der FTD vom 04.01.2006
© 2006 Financial Times Deutschland

Eines der besten Explorationsgebiete von Vangold ist die 37 Quadratkilometer große Property auf den Feni Inseln. Hier sind Vergleiche mit Lihir und Bougainville angebracht. Die Feni Inseln liegen geologisch gesehen im Zentrum des Lihir Korridors. Dieses Gebiet ist vulkanisch hochaktiv, so dass sich Gold aufgrund der vulkanischen Aktivitäten nahe der Oberfläche ablagerte. Im Nordwesten der Feni Inseln liegt die Lihir-Mine und im Südosten die Bougainville-Mine. Lihir und Bougainville haben über 16 Millionen Unzen Gold und 5 Millionen Tonnen Kupfer. Die Mineralisierungen von Feni sind in Art und Grad denen von Lihir und Bougainville sehr ähnlich. VAN hält an dem Explorationsgebiet einen 50%-Anteil und kann diesen bis auf 75% aufstocken.

A Profitable Approach

Financing Mineral Exploration

With Oil & Natural Gas Projects

by Leonard Melman

_______________

Not too many years ago, junior mining companies most frequently limited their activities to exploring and pre-developing their mining properties. They were able to do this because the time span and costs of bringing a mining property from discovery to ultimate production were at least relatively tolerable. However, during the past two decades, the costs of exploration, pre-development, permitting, environmental work and the construction of production facilities has exploded upward and this has created a serious problem for juniors, the problem of dilution.

Simply put, in order to raise needed capital, many juniors have raised funds by selling shares of their company. Unfortunately, during the years prior to net profitable production, the number of shares sold can frequently reach astonishing levels—so high, in fact, that the hope of ever attaining attractive per-share earnings virtually disappears and the shares become less and less attractive to the financial marketplace.

One Canadian junior, Vancouver-based Vangold Resources Ltd., has decided that the correct path is to develop outside income in order to finance mineral exploration. They have chosen to acquire petroleum and natural gas projects with the objective of using the income generated from those acquisitions to fund the development of their mining properties located in Papua New Guinea, Uganda and British Columbia.

Oil and Gas

Vangold has managed to acquire interests in seven different projects—six natural gas ventures and one petroleum—and the ones we were able to visit were the producing Killam North Oil Field project in east-central Alberta and the prospective Sarcee natural gas project southwest of Calgary.

Killam already has one drilled and cased vertical well in production and recently reported the completion of a multi-leg, horizontal well that is test-producing at the rate of 250 barrels of oil per day. In addition, another multi-leg drilling operation is underway and an additional four to five multi-leg operations plus one additional vertical well are planned at the Killam property for completion by January 2006.

The manner of drilling multiple holes would have been impossible several years ago. However, thanks to newly-discovered technology, present-day drilling rigs are able to operate diagonally and even horizontally at great depth underground. This enables companies to send one major well down to the depth where prior geologic exploration has indicated petroleum is expected to be encountered and then extend two or three different holes into the body of the reserves. In the case of Killam, petroleum has been encountered approximately 2,000 feet below the surface. Since horizontal drilling could extend into the field of a neighboring producer, laws have been written to require companies to be exceedingly cautious and restrict their operations to their own well-defined property borders.

Grades of petroleum vary enormously from high-viscosity “light,” which has very few impurities, versus low-viscosity “heavy,” which is thick and has extensive impurities. Petroleum produced from the former would be sold near the highest prices available while the latter would be heavily discounted in the markets. Petroleum produced at Killam has shown every indication of being high-viscosity with less than average impurities.

Drilling can be an incredibly expensive venture—as high as US$25,000 per day. Costs include a five-member drilling team that must be on duty at all times, moving the drilling rig from site to site, a staff geologist and a drilling manager. In addition, there are rental costs for the drilling rig itself plus items such as waste disposal, transportation, license fees, etc. Because of this overhead, it is advantageous for a junior company to have an operating partner and in Vangold’s case, that role is taken by Calgary-based Cluane Energy Corp.

Drilling at the prospective Sarcee natural gas project southwest of Calgary.

Vangold’s most advanced natural gas property is on tribal territory belonging to the Tsuu T’ina First Nations on the Sarcee Indian Reserve approximately 30 miles southwest of Calgary in the Canadian Rockies foothills. The drilling rig located at Sarcee for natural gas exploration stands about 100 feet tall and, similar to newer petroleum drilling rigs, can operate diagonally as well as vertically and the angle can be altered at depth.

Once the well is completed, testing can accurately determine the anticipated rate of flow and Vangold was awaiting test results at the time of my visit. Of course, it must be pointed out that drilling for either petroleum or natural gas is a speculative venture with the possibility of no returns in the case of dry holes. However, the other side of the coin is that when you are successful, the rewards can be significant.

In addition to Killam and Sarcee, Vangold also has other natural gas properties in Alberta named Strachan Field, Deep Basin, Chigwell, Antelope Lake. Vangold also owns the moderately productive East Corning Property in California that generates as much as US$67,000 per month. The East Corning property was acquired for a net cost of less than US$30,000, which demonstrates the potential rewards inherent in successful petroleum investments.

According to their most conservative estimates, Vangold’s revenues from oil and natural gas revenues during 2006 are expected to amount to C$9.2 million and more optimistic figures indicate revenues could reach as high as C$20 million.

Hallo morpheus1878,

ich kenne mich mit Optionen nicht aus.

Ich gehe bei meinen Anlageentscheidungen von Fundamentals und Charttechnik aus.

Was sagen dir die eingestellten Zahlen über den zukünftigen Kursverlauf?

Gruß Heinz

A Profitable Approach

Financing Mineral Exploration

With Oil & Natural Gas Projects

by Leonard Melman

Teil 2

Mineral Exploration

Based on their good fortune to date at East Corning and Killam and the near term potential returns from Sarcee, Vangold is placing themselves in a position to be able to develop their various mining properties.

Papua New Guinea. Highest on their priority list is the package of seven prospects held in Papua New Guinea. These include Mt. Penck, Feni Islands, Mt. Allemata, Bismarck, Ferguson, Mt. Nakru and Yup River.

[Blockierte Grafik: http://www.icmj2.com/Melman/06Jan/PNG_projects_map266.jpg]

The map shows Vangold's various New Guinea project sites.

The nation of Papua New Guinea (PNG) covers the eastern half of one of the world’s largest and most mysterious islands, located in the southwest Pacific Ocean just above the northeastern portion of Australia. It is a land of towering mountains and fascinating geology that appears to hold the promise of significant, world-class mining ventures.

Each of Vangold’s PNG projects is being developed jointly with New Guinea Gold Corp. and the most advanced project is the Mt. Penck Property, 40% owned by Vangold. The property has a lengthy exploration history and data accumulated by companies such as BHP and Indo Pacific is available. In addition, they have conducted a review of aeromagnetic and radiometric data as well as having collected approximately 560 auger soil samples plus 100 rock samples in order to conduct geochemical assessments of the Mt. Penck mineralized systems.

Drilling at the Feni islands location

Based on the review of historical data and current information, gold mineralization appears to be widespread and similar to the Round Mountain Gold Mine in Nevada, which has produced 7.0 million ounces of gold since 1976. Geologist Dr. David Lindley noted that “…the Mt. Penck system is hosted by intermediate-mafic (Andesitic and basaltic) rocks of a stratovolcano. The contrasting silica contents of host rocks in these systems may be reflected in differing hydrothermal alteration products.”
Vangold and New Guinea Gold have purchased a new drill rig that will be largely dedicated to defining the potential and extent of mineralization at Mt. Penck over the next twelve months.

Exploration is proceeding at the Allemata Property (50/50 owned between Vangold and New Guinea Gold) and Vangold reported that six holes were drilled during the second and third quarters of 2005 totaling 764.9 meters. All holes encountered gold mineralization, mainly at depths of less than fifty meters. Further trenching and drilling will be required to obtain an estimate of the amount of such mineralization and this will be carried out after all surface and drill information have been completely evaluated.

Previous drilling work at Mt. Nakru conducted from 1985 to 1998 defined four prospective areas containing mineralization typical of a gold-rich porphyry copper type and work on this and the remaining PNG projects will continue to advance as funds become available.

Uganda. Vangold has acquired seven exploration licenses in the African nation of Uganda that cover an area of 80 square kilometers. Two of these licenses are located in the former Kilembe Mine concession area previously owned by Falconbridge. Mining operations were conducted from 1956 to 1977, but were abandoned during the period of turmoil that accompanied the rule of former Ugandan dictator, Idi Amin.

Geophysical surveys conducted by Vangold and Anglovaal Mining in the 1990s identified two electromagnetic anomalies and Vangold geologist Locke Goldsmith believes the area presents an attractive target for identification of copper-cobalt mineralization within the historic mining district. In addition, infrastructure is in place at the Kilembe Mine. Vangold plans to conduct GPS control exploration to identify mineralized outcrops.

Vangold’s remaining mining property is located in the Canadian province of British Columbia in the historic mining district of Rossland. The area produced over three million ounces of gold and 3.5 million ounces of silver from 1899-1928. Vangold has 113 claims and their joint venture partners plan to spend C$1.8 million over the next three years in exploration costs, thereby earning a 70% interest which would leave Vangold with 30% remaining interest.

_______________

Hallo pascal105,

den genauen aktuellen Wert habe ich nicht gefunden. Ich habe deswegen Dal Brynelsen angemailt und hoffe, dass ich bald eine Nachricht bekommen werde. Ganz sicher scheint zu sein, dass VAN ab 2. Quartal round about 1 Mio Can$ Cash Flow generieren wird.

Gruß Heinz

Hallo pascal105,

was heißt hier puschen? Ich bin begeistert von Vangold. Und ich hoffe die Leser des Threads merken das, beschäftigen sich mit VAN und erkennen seine Klasse. Dazu will ich beitragen! Vangold ist grundsolide und nicht so ein Einwochenpusch wie die Explorer von Bullvestor!!!! Ich habe lange gesucht und endlich einen Explorer gefunden (VAN), der wirklich klasse Zukunftsperspektiven hat. Das wird doch auch von allen, die Vangold kennen, bestätigt. Ein altes deutsches Sprichwortsagt: We(m)s das Herz voll ist, dem läuft es über. So geht es mir.

Bei den Beiträgen, die nicht von mir sind, habe ich doch deutlich die Verfasser angegeben.

30.12.05: Handelsblatt; 01.01.06 Marc Davis; 04.01.06 Klaus Hecking; 05.01.06 Leonard Melman

Alle anderen Posts sind von mir! Wo ist dein Problem? Warum gibst du den Link auf Wallstreet online? Willst du Wallstreet online puschen?

Ich habe einen weiteren Klasse Explorer im Visier, der ähnlich vorgeht wie Vangold. Dazu vielleicht nächste Woche mehr. Ich muss erst am Wochenende noch gründlich recherchieren.

PS: Mit der deutschen Rechtschreibung stehst du wohl auf "Kriegsfuß"?

Zitat: Wiso puscht du die Aktie so und kopiertst die beiträge von einem anderen Board?

Korrekt: Wieso puscht du die Aktie so und kopierst die Beiträge von einem anderen Board?

Gruß Heinz

Hallo hpopth,

an welcher Stelle meiner Postings schreibe ich von einer überschäumenden (Kurs)-Entwicklung? Das wirst du nicht finden! Ich habe in meinem letzten Posting von einem grundsoliden Wert geschrieben und in meinem ersten Posting von einem Kursziel von 0,6 Euro auf Sicht von einem Jahr. Das wäre doch nur der Wert, den VAN schon einmal hatte (0,64 Euro, wenn ich das richtig sehe). Ist dir dieses Kursziel zu hoch? Dann poste doch ´mal dein Kursziel. Wäre doch hilfreich für alle, die in diesem Bereich Hilfe suchen!

Gruß Heinz

Hallo,

leider ist meine email an Dal Brynelsen als unzustellbar zurück gekommen. Ich werde es erneut versuchen und euch sofort informieren, wenn ich etwas gehört habe.

Aber hier etwas Neues:

1/6/2006 9:50:15 AM ET News Release Index

Vangold Grants Stock Options

VANGOLD RESOURCES LTD. TSX-V:VAN

NEWS RELEASE

January 5, 2006 - Vancouver, BC - Vangold Resources Ltd. (“Vangold”) announces that pursuant to the Company’s Stock Option Plan, the Board has approved the issuance of 100,000 incentive stock options to a consultant of Vangold. The options are exercisable for three years at a price of $0.35.

Vangold Resources Ltd. is a unique natural resource company with a portfolio of 22 diverse advanced stage projects including revenue generating oil and gas projects. Vangold’s oil and gas drilling programs in Alberta, Canada, include the Killam N oil field. Vangold and its partners are currently drilling a 16 well program on its 26.25% owned Killam N oil field. The first multi-leg horizontal well in this phase has been drilled, completed and equipped with a single well battery. Culane has started the production testing of this well and production has averaged approximately 250 barrels of oil per day to date. This production drill program is to be completed in January 2006.

Vangold’s Alberta projects also include the Sarcee Gas Discovery, (the Sarcee 12-13-23-4W5M well is estimated to be 20 to 30 BCF [Sproule Associates Ltd.]. Another of Vangold’s Alberta gas projects is located in the Rocky Mountain House Deep Gas Basin which is close to Shell's trillion cubic feet pool.

In the gold sector, drilling will commence early 2006 at Mt. Penck (Papua New Guinea) which has been compared to Nevada’s Round Mountain Mine (9 million ounces). Vangold also has licenses covering over 60 sq km in the prospective Kilembe copper/cobalt belt in Uganda.

To find out more about Vangold Resources Ltd. please visit our website at http://www.vangold.ca or contact Dal Brynelsen at 604-684-1974 or by email brynelsen@vangold.ca.

On Behalf of the Board of

VANGOLD RESOURCES LTD.

“Dal Brynelsen”

Dal Brynelsen, President and CEO

Gruß Heinz

Hallo,

hier die Antwort von Robin Moriarty zum P/E 7 von VAN. Er schreibt, dass Öl-/Gasfirmen nicht mit dem P/E-Ratio bewertet werden können. Er stellt 3 andere Kriterien vor nach denen Ölfirmen bewertet werden, die aber nicht von ihm sind:

1. Net asset value
2. Cash flow
3. Management

Alles in allem hält er Vangold für unterbewertet.

Dann könnte es ja, wenn das Warrents-Programm Anfang Februar ausgelaufen ist, der Kurs nach oben gehen, vielleicht auch früher.

Gruß Heinz

Aber jetzt zu Antwort von Robin Moriarty:

You can not value an oil and gas company on a PE ratio. What I am able to
tell you is we are undervalued.

Here is a quote on valuations from a prominent Senior Partner at a Major Law
Firm in Calgary who does Oil and Gas Mergers, Acquisitions, Take Overs, etc
Rob, energy companies do not trade on the basis of PE. Rather, you usually
look at 1. X times nav* (using 10% discount on proved and 1/2 probable
engineering as per Multilateral Instrument NI 51-101) ; 2. Y times cash
flow; and 3. Z times each currently flowing boe. Depending on management,
the type of production (heavy oil trades lower) and market perception you
might see X anywhere from 0.8 to 2, Y anywhere from 3 to 12 and Z anywhere
from $30,000 to $100,000+. Vangold management are not in Calgary and do not
have a history in the oil patch so expect the valuations to be at the low
end of the above ranges for about a year after the production and cash flow
are first established

*nav=Net asset value

Net asset value, or "NAV," of an investment company is the company’s total assets minus its total liabilities. For example, if an investment company has securities and other assets worth $100 million and has liabilities of $10 million, the investment company’s NAV will be $90 million. Because an investment company’s assets and liabilities change daily, NAV will also change daily. NAV might be $90 million one day, $100 million the next, and $80 million the day after.
(Von mir zum Verständnis eingefügt)

My own estimate (I am a shareholder) and nothing to do with the aforesiad or
Vangolds input is as follows:.

Killam Oil Field will be completed at the end of Jan 2006. We are on the
5th Horizontal Well. We guesstimate 400 BOPD production from the first
phase of a 2 phase program. That equates to about $500,000 net income per
month. That equates to $6 M cash flow per annum for just the first phase at
Killam, and giving nothing else any value (nothing for Deep Gas Basin,
Sarcee, Mt Penck, Feni, or any of the gold mineral properties). In Alberta
you can see assets for 4 to 5 times cash flow. That would equate to about 6
x 4 or $24 M. The rule of thumb is you get $60,000 per barrel of flowing
oil equivalent. If I take $24 M in assets over our fully diluted position
of 85 M shares (please not there are about 5 M options that won't be
exercised any time soon (tax consequences) then that would equate to the
company having $.30 approx per share asset value. If we trade at $.39 Cdn,
then we trade 3% higher than our asset value.

Thats why I say we are undervalued.

Prior to commencing Mt Penck, we guess we have 140,000 ounces from a prior 7
hole program. If we drill over the next 5 months and find 5 M ounces like
at Round Mtn Nevada, then that would represent a value from $20 gold in the
ground to $540. Thats where the upside is when gold comes into flavour.

Robin