PHO - PhosCo Ltd

[Joe Blow]

Victorian Gold Mines NL (VGM) is an Australian based gold exploration company. The company has 7 tenements in Victoria which include sites of past alluvial and reef gold production. The company aims to review projects with the goal of optimising returns by re-establishing mining operations as quickly as possible.

http://www.victoriangoldmines.com.au

 

[eo86]

Re: VGM - Victorian Gold Mines

Has anyone been keeping an eye on VGM? I'm interested in what others think of this company.

 

[Agentm]

Re: VGM - Victorian Gold Mines

i was watching the moliagul lease a while ago when it came up in the papers..

curious to see its in this portfolio.

will keep them on my watch list

 

[overule]

Re: VGM - Victorian Gold Mines

Anyone still following this? Not a lot of shares on the market. Will be interesting in the coming weeks.

 

[So_Cynical]

Re: VGM - Victorian Gold Mines

Anyone still following this? Not a lot of shares on the market. Will be interesting in the coming weeks.

Why will it be interesting? a gold mining company with no gold isn't very interesting, well not as interesting as the company's that actually have some gold.

 

[overule]

Re: VGM - Victorian Gold Mines

Well.. If you are following,

You would know they are diversifying into phosphate with the acquisition of Celamin. A name change is very likely.

 

[Sulfuras]

Re: VGM - Victorian Gold Mines

i was watching the moliagul lease a while ago when it came up in the papers..

curious to see its in this portfolio.

will keep them on my watch list

Followed your comments during the Adelphi days. Keen to see what you make of this stock since its (unexplained) ralley over the last few days? You still keeping an eye on it?

 

[overule]

Name changed from Victorian gold mines to Celamin Holdings.
Currently in Trading Halt pending capital raising.

Exciting news ahead!! Good luck to those who're in this.

 

[System]

On January 28th, 2022, Celamin Holdings Limited (CNL) changed its name and ASX code to PhosCo Ltd (PHO).

 

[Dona Ferentes]

Exciting news ahead!! Good luck to those who're in this.

Probably need more than luck. The excitement was a slow build. ....

By 2015, there was a note about a

dispute between its wholly owned subsidiary Celamin Limited and its joint venture partner Tunisian Mining Services in relation to the fraudulent transfer to TMS of Celamin's 51% interest in the joint venture company Chaketma Phosphates SA. C

and in April 2017

Celamin Limited has obtained a conservatory seizure order from the President of the Tribunal of First Instance of Tunisia against all shares that TMS owns in the capital of CPSA, (being the 49% of CPSA previously held by TMS as well as the 51% of CPSA shares fraudulently taken from Celamin by TMS). This Seizure Order prevents TMS from dealing with any of these shares and subject to determination of an opposition application by TMS, will remain in place until enforcement of the final arbitral award....

and in May 2017

A capital raising of $1,050,000 which will provide it with funding to pursue the Arbitration of its dispute with its joint venture partner through to determination, other legal actions in Tunisia and for general working capital purposes.

and Jan 2018

A final arbitration award was issued in Celamin's favour. TMS ordered to return Celamin's interest in CPSA. Celamin is awarded in excess of US$4M in damage and costs.

Feb 2018, saw a second Placement raise a total of $1,551,750 with proceeds to be used to pursue enforcement of the Final Arbitration Award for recovery of its interest in the Chaketma Phosphate, other legal actions in Tunisia and for general working capital purposses.

Not that it was all great, with the notification in May 2018 of consolidation of its securities; Shareholders get 1 share for every 100 presently owned.

And here we are in 2022: PhosCo Ltd (PHO, formerly Celamin Holdings Limited) is involved in exploration and development of the Chaketma Phosphate in Tunisia and Exploration and evaluation work on the newly granted Djebba and Zeflana zinc permits.

..... either Chaketma is a wonderful resource worth fighting for (note change of name) or there will be another morph, into forward facing Tunisian zinc.

• Capital raising for $3.2 million announced 3 December 2021
• Proceeds will fund work on advancing the world class Chaketma phosphate project

(one to observe from the sidelines, I suspect)