Van Gold resources African contingent assets independent valuation report
AA – The director and management of Van Gold Resources (PINKSHEETS:VGRI) are pleased to provide an update on the Company’s interests in Africa where Van Gold Resources currently has nearly a 100% concession interest in Cabinda’s future contingent oil and mineral production obtained from the Front for the Liberation of the State of Cabinda (FLEC). Experts predict that Cabinda’s recoverable onshore hydrocarbons alone exceed 2 billion barrels.
Van Gold Resources also has obtained negotiation rights to oil, mineral, forestry and agriculture concession in the emerging nations of Biafra and Southern Cameroons (Ambazonia). According to a Competent Person’s report available at the Company’s website, the current value of these contingent rights could be as high as $150 million.
Biafra and Southern Cameroons have recently been in the headlines as self-determination movements attempt to assert control over these resource rich regions in West Africa.
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