Vector Resources Limited (“Vector” or the “Company”) is an Australian based resource company (listed on the Australian Securities Exchange “ASX”) focused on identifying and acquiring resource projects and investments opportunities domestically and internationally.
In February 2010, the Company entered into a 50/50 Earaheedy Iron Ore Joint-Venture (EJV) with Cazaly Resources Limited. The EJV project area is located in central Western Australia, approximately 750km north-east of Perth, covering an area in excess of 2,700km2 inlcuding a substantial strike extent of the iron ore prospective Frere Formation located in the Earaheedy Basin located 150km north of Wiluna in Central Western Australia. In September 2011, EJV has signed a farm-in agreement with Anglo American, the global diversified mining house, covering part of EJV's Earaheedy Iron Project in the Wiluna region.
On 5 November 2010, the Company lodged a Bidder’s Statement with ASIC seeking to acquire 100% of the share capital of Golden Iron Resources Limited (“Golden Iron”). The bid was a script offer with Golden Iron shareholders receiving 1(one) Vector share for 2(two) Golden Iron shares. The offer received unanimous support with Golden Iron’s board and in the absence of a superior offer it is recommended by the Golden Iron board. The Company achieved acceptance of more than 90% for the takeover with remaining shares compulsorily acquired. Acquiring Golden Iron has added a highly prospective portfolio of gold assets in the Southern Cross region of Western Australia, hosting a high-grade JORC Compliant Resource of 798,900t @ 4.7 g/t for 118,800 oz Au. There are also the potential for early production and cashflow from lead Mt Dimer Project in addition to the potential for DSO iron ore (direct shipping ore) operation at Gwendolyn Project with surface samples returning values of up to 66.5% Fe The Company entered into a agreement in late February 2011 to acquire 100% of Muriels Extension, a portfolio of tenements located within the prolific gold producing region of Leonora, Western Australia. A Definitive Agreement was reached in late May 2011.