Welcome to our dedicated page for Velocity Mineral news (Ticker: VLCJF), a resource for investors and traders seeking the latest updates and insights on Velocity Mineral stock.
Velocity Minerals Ltd. (VLCJF) maintains this dedicated news hub for stakeholders tracking its precious metals and copper exploration activities in Eastern Europe. Our curated collection provides investors with essential updates on Bulgarian mineral projects, strategic partnerships, and corporate developments.
This resource offers centralized access to critical information including exploration results, joint venture announcements, and technical report summaries. Users can efficiently monitor the company's progress across key assets like the Rozino gold deposit and Iglika copper-gold property through verified updates.
Regular updates cover operational milestones including drilling program outcomes, resource estimation updates, and strategic transaction details. The archive serves both technical analysts requiring geological data and investors seeking corporate development context.
Bookmark this page for streamlined tracking of Velocity Minerals' progress in advancing its exploration portfolio through methodical asset evaluation and collaborative partnerships. Check regularly for authoritative updates from primary sources.
Velocity Minerals (TSXV: VLC) announced the results of its 2024 Annual General Meeting (AGM) held on June 18, 2024, in Vancouver, British Columbia. At the AGM, all motions were successfully approved by shareholders. A total of 149,815,984 shares were voted, representing 76.36% of the issued and outstanding shares as of the record date. Key approvals included the election of directors Keith Henderson, Mark Cruise, Daniel Marinov, Gerrie van der Westhuizen, and Michelle Roth, each securing approximately 99.82% of the votes. Gerrie van der Westhuizen received a notably high approval rate of 99.99%. Additionally, the appointment of the auditor was approved with 100% of the votes, and the stock option plan was ratified with a 99.63% approval rate.
Velocity Minerals provided updates on its corporate strategies and exploration initiatives. The company is evaluating strategic alternatives, including the possible sale of its Rozino gold deposit, currently in the prefeasibility stage. Sensitivity analysis based on gold prices indicates the deposit's high responsiveness to price fluctuations, with an after-tax NPV5% ranging from $35.4M at $1,125/oz to $218M at $1,875/oz. Velocity owns 70% of Rozino and has an agreement to sell the asset on a 100% basis.
Velocity also announced that Dundee Precious Metals will terminate their Option Agreement on the Iglika property effective July 30, 2024. DPM has invested $3.5M in exploration, including significant copper and gold drill intersections. Velocity plans further drilling at Iglika, with 15 new drill holes awaiting permits and is seeking a new partner for further exploration.
Velocity Minerals has amended its Zlatusha Project Option Agreement with Raiden Resources, granting an exclusive option to acquire a 75% interest in the Zlatusha prospecting license. The company has announced management changes, appointing Ms. Dani Palahanova as Chief Financial Officer, replacing Mr. Darren Morgans. In addition, Velocity has granted 280,000 common share stock options and issued 125,000 common shares to Leede Jones Gable Inc. under the Advisory Agreement.
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