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viking mines ltd (VKA) Snapshot

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viking mines ltd (VKA) Details

Viking Mines Limited explores for, develops, and mines mineral deposits in West Africa. It company focuses on its interest in the Akoase gold project that covers an area of 106 square kilometers located at the northeastern end of the Ashanti Gold Belt in southern Ghana. The company was formerly known as Viking Ashanti Limited and changed its name to Viking Mines Limited in May 2014. Viking Mines Limited was founded in 2007 and is based in West Perth, Australia.

Founded in 2007

viking mines ltd (VKA) Top Compensated Officers

Managing Director and Executive Director
Total Annual Compensation: A$112.5K
Company Secretary
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

viking mines ltd (VKA) Key Developments

Viking Mines Limited Announces Audited Consolidated and Parent Earnings Results for the Year Ended June 30, 2014

Viking Mines Limited announced audited consolidated and parent earnings results for the year ended June 30, 2014. For the year, on consolidated basis, the company reported loss before income tax expense of AUD 738,557 against AUD 5,027,139 a year ago. Loss after income tax expense was AUD 738,557 against AUD 5,027,139 a year ago. Loss attributable to owners of the company was AUD 730,370 against AUD 4,924,804 a year ago. Basic loss per share was 0.7 cents against 6.0 cents a year ago. Net cash outflow from operating activities was AUD 613,857 against AUD 733,230 a year ago. Payments for exploration and evaluation were AUD 126,446 against AUD 1,171,096 a year ago. For the year, on parent company basis, the company reported total comprehensive loss of AUD 656,682 against AUD 5,005,667 a year ago.

Viking Ashanti Limited Announces Drilling for Berkh Uul Coal Project in Northern Mongolia

Viking Ashanti Limited announced that it has issued a letter of intent to drilling contractor Ellehcor LLC in relation to provision of drilling services for the Berkh Uul coal project in northern Mongolia. The proposed drilling program will involve vertical precollar and HQ/PQ size diamond core drilling to maximum depth of 200m, on a grid based pattern infilling and extending the existing drilling coverage. Planned total drilling metreage will be a minimum of 2,000m. Results from the drilling program, scheduled to commence in the next three weeks, will contribute to an update of the existing JORC (2012) 38.3 Mt coal resource, provide additional information for input into the approvals process for a Mining Licence for Berkh Uul, and provide further coal quality information for input into the planned Berkh Uul feasibility study. The Berkh Uul Project is located 200km east of Darkhan City, within 40km of rail access to the existing Trans-Mongolian Railway, which provides a transport link to Darkhan to the south and Russia to the north. The deposit consists of shallow, consistent coal seams of high quality bituminous coal amenable to open pit mining. Discussions with nearby cement works and power stations confirm a local industrial demand for unwashed Berkh Uul coal, due to its low ash and relatively high calorific value. This has been evidenced by the signing of four non- binding Memoranda of Understanding with Darkhan Thermal Power Plant, Erdenet Power Plant, Darkhan Metallurgical Plant, and the Khutul Cement and Lime Plant.

Viking Ashanti Limited, Special/Extraordinary Shareholders Meeting, May 02, 2014

Viking Ashanti Limited, Special/Extraordinary Shareholders Meeting, May 02, 2014., at 11:30 W. Australia Standard Time. Location: the Celtic Club. Agenda: To approve of change in scale of company’s activities; to consider ratification of previous issue of company’s Shares under the preliminary raising; to approve of issue of company’s Shares and Options pursuant to proposed Capital Raising; to approve of issue of company’s Shares and Options to Directors under the proposed capital raising; to approve of issue of company’s Shares and Options to the Auminco Lenders under the Debt Agreement; to approve of issue of company’s Options to Corporate Advisers; to approve of issue of company’s Options; and to approve of change of company name.


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