Vatukoula Gold mines the London listed gold miner whose main asset is their large scale gold mining operation in Fiji, are currently benefitting from the increase in the gold price as the company moves its underground mining operation into the more efficient footwall
Process. The company is expected to start mining higher grades and will lower its development rate, in a move that will bring down the cash cost per ounce.
The high gold price is providing VGM with a nice window in which to make this transition. Shares are trading at just under 40p close to a 52 week low.
