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Vendetta Mining has announced a non-brokered private placement & evaluating potential dual listing on the ASX

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 12 million units priced at $0.125 per unit.

Additional Information:

Company: Vendetta Mining Corp.
Website: http://www.VendettaMiningCorp.com
Stock Symbol: TSXV: VTT
Date Published: Mar 11, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Vendetta Mining Corp. has announced a non-brokered private placement and is evaluating a potential dual listing on the Australian Stock Exchange.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 12 million units priced at $0.125 per unit.

Each unit consists of one share and one-half a warrant with each warrant exercisable at $0.18 for 24 months.

The shares are currently trading at $0.12.

The net proceeds will be used to advance the development of the Pegmont Lead-Zinc project and general working capital.

Vendetta Mining has an option to acquire a 100% interest in the Pegmont lead-zinc resource, a high-grade, largely open pit, resource strategically located in the heart of the world’s most important lead-zinc belt in Queensland Australia.

The company recently completed an updated resource estimate indicating close to 10 million tonnes of open pit resource with additional near surface underground zones

In addition, in January the company released a Preliminary Economic Assessment outlining a 10-year mine plan that generates a strong economic return with a pre-tax IRR of 32% and a NPV of $201 million at 8% for the base case, assuming $0.91 per pound lead and $1.09 per pound zinc.

The spot price and exchange rate case demonstrates the strong sensitivity to metal prices with a pre-tax IRR of 37% and NPV of $249M using prices of $0.94 per pound lead and $1.25 per pound zinc.

Michael Williams, President and CEO, stated: "This financing will allow the Company to complete Queensland government work commitments at Pegmont for 2019, the drilling will focus on expanding the resource around the two Zone 3 underground panels and investigate exploration targets along strike of the high-grade Bridge Zone. Having successfully outlined the potential economics of Pegmont in the PEA we now feel that duel listing on the ASX could further raise the profile of Vendetta within Australia and offer enhanced assess to Australian institutional investors, many of which are restricted to only investing on the ASX."

For more information, please visit the company’s website at www.VendettaMiningCorp.com, contact Michael Williams, President and CEO, at 604-484-7855 or email info@VendettaMiningCorp.com.

I’m Samantha Deutscher for Investmentpitch Media