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vendetta mining corp (VTT) Snapshot

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C$-0.01
Shares Outstanding
11.9M
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vendetta mining corp (VTT) Details

Vendetta Mining Corp. engages in the acquisition and exploration of mineral properties. The company owns a 100% interest in the Honeymoon East property comprising of 18 contiguous mineral tenures covering an area of 4,641.56 hectares located south of the community of Clearwater in south-central British Columbia. It was formerly known as Azincourt Resources Inc. and changed its name to Vendetta Mining Corp. in July 2010. The company was incorporated in 2009 and is headquartered in Vancouver, Canada.

Founded in 2009

vendetta mining corp (VTT) Top Compensated Officers

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Chief Financial Officer
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Corporate Secretary
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Compensation as of Fiscal Year 2014.

vendetta mining corp (VTT) Key Developments

Vendetta Mining Corp. Announces Board and Executive Changes

Vendetta Mining Corp. has accepted the resignations of two directors, Rob McLeod and Darryl Cardey. Their places on the board have been filled with the appointment of Mr. Peter Voulgaris B.Eng. Geol. (Hons), M.Eng.Sci. MAusIMM, a mining professional with over 20 years experience in mine operations, development and business development and Mr. Doug Ramshaw BSc (Hons), ARSM, a geologist and former mining analyst with 20 years' experience in the industry and capital markets. In addition, Mr. Cale Moodie has been appointed as Chief Financial Officer and Ms. Sheryl Elsdon as Corporate Secretary.

Vendetta Mining Ltd. and Pegmont Mines Limited Executes Definitive Agreement for the Pegmont Pb Zn Ag property

Vendetta Mining Ltd. and Pegmont Mines Ltd. have executed definitive agreements for the previously announced option deal on the Pegmont Lead-Zinc-Silver deposit, in Queensland, Australia. It is proximate to existing infrastructure that includes roads, railhead and natural gas for power generation. Discovered in 1971, shallow drilling has defined historic resources that the company, in concert with AMC Consultants, has been working to bring into CIM and NI 43-101 compliance. In addition, numerous untested targets defined by drilling, geophysical and geochemical methods remain to be explored. The company has been granted an option to acquire 100% of the Pegmont property comprising three mining leases and two exploration tenements, by a combination of cash payments, exploration commitments and advanced royalty payments.

Vendetta Mining Ltd. Signs Letter of Intent to Acquire the Pegmont Pb zn zg, Deposit, Queensland, Australia

Vendetta Mining Ltd. announced that it has signed a Binding Letter of Intent with Pegmont Mines Limited (the Vendor) to acquire an undivided 100% interest in the Pegmont Lead-Zinc-Silver Property located in the State of Queensland, Australia. The transaction is subject to satisfactory completion of due diligence period and entering into of a definitive agreement before January 14, 2013. The transaction also is subject to the approval of the TSX Venture Exchange, the National Stock Exchange of Australia and the Vendor's's shareholders. Pegmont is located 25km from BHP's world class Cannington silver-lead-zinc mine, 20km from Inova's Osborne copper-gold mine and is proximate to existing infrastructure that includes road (which can deliver to a rail head) as well as a variety of power sources. Discovered in 1971, Pegmont has been drilled extensively defining historic resources that the Company intends to bring in to NI43-101 compliance. In addition, numerous untested targets defined by both geophysical and geochemical anomalies remain to be explored. The Company will be granted an option to acquire 100% of the Pegmont property and associated exploration tenements. In order to maintain and exercise the option the Company will be required to make a combination of cash payments and stock issuances to the Vendor and complete certain exploration commitments. In addition the Vendor will retain a royalty on future production from the property of 1.25% of net smelter returns payable after the value of the cash payment and share issuances, totaling together $4 million, have been notionally deducted against the Vendor's royalty entitlement. The cash payments totaling $3 million are as follows: $150,000 within 2 days of Exchange approval of the transaction; $100,000 on the 9 month anniversary of the transaction; $250,000 on the 18 month anniversary; $500,000 on the 30 month anniversary; $750,000 on the 42 month anniversary; and finally $1,250,000 on the 54 month anniversary of the transaction. As part of the option exercise price, the Company has also agreed to issue shares to the Vendor with a market value of $1 million at various defined dates at the then prevailing market price.

 

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