The investment strategy of the Company is to provide Shareholders with an attractive total return achieved primarily through capital appreciation. The Directors believe that there are numerous investment opportunities within both private and public businesses in the Base Metals and Precious Metals sector in North America and Australia.
In August 2018, the Company completed its successful listing on the AQUIS STOCK EXCHANGE (AQSE) Growth market, having raised gross funds of £600,000 through equity placings in December 2017 and July 2018 for future acquisitions in accordance with its investment strategy to identify investment opportunities and acquisitions in companies involved in exploration and development in the Precious Metals and Base Metals sectors in Australia, Western Europe and North America.
In December 2018 the Company completed its first investment, with the signing of the sale and purchase agreement with Goldfields Consolidated Pty Ltd for a 51 % beneficial interest in the Shangri La gold, copper and silver project in consideration for A$220,000. The consideration was satisfied by a payment of A$20,000 to Goldfields in cash and the issuance of 190,000 ordinary fully paid shares in the capital of the Company (“Consideration Shares”). Pursuant to the terms of the SPA, Veni Vidi Vici and Goldfields have entered into a lock-in agreement whereby Goldfields has agreed to restrict its ability to sell the Consideration Shares for a period of three months.
In addition, the Company and Goldfields have entered into a joint venture agreement (“JVA”) under which Veni Vidi Vici will be responsible for an initial expenditure fee of A$300,000 over three years from the commencement of the JVA. Goldfields will manage the joint venture (“JV”) and be entitled to a 10% management fee of expenses incurred by the JV.
The Shangri La Project is a gold-copper-silver project comprising a polymetallic hydrothermal quartz vein type deposit covering an area of 10 hectares. The Shangri La Project is located 10 kilometres west of Kununurra, the central town of the Northeast Kimberley region in Western Australia. Further updates will be provided over the coming period.