Announcement • Jan 11
Catalyst Metals Limited (ASX:CYL) entered into a bid implementation agreement to acquire Vango Mining Limited (ASX:VAN) from Yanchao Guo, Zhenzhu Zhang, Shengqiang Zhou, Bruce McInnes, Jianhua Li and others for AUD 63.5 million. Catalyst Metals Limited (ASX:CYL) entered into a bid implementation agreement to acquire Vango Mining Limited (ASX:VAN) from Yanchao Guo, Zhenzhu Zhang, Shengqiang Zhou, Bruce McInnes, Jianhua Li and others for AUD 63.5 million on January 09, 2023. As per the terms, Vango shareholders will receive 5 Catalyst shares for every 115 Vango Shares they hold. The offer is conditional upon obtaining at least 70% of Vango shares. Vango board of directors Unanimously recommended that Vango Shareholders accept the Offer, in the absence of a superior proposal. Catalyst Metals Limited has completed the due diligence. A break fee of AUD 1 million may also be payable by Vango in certain circumstances. The offer will close on February 20, 2023. Argonaut PCF Limited acted as a financial advisor, and Gilbert and Tobin acted as a legal advisor, Automic Group Pty Ltd acted as a share registrar to Catalyst Metals Limited. Edwards Mac Scovell Legala acted as a legal advisor to Vango Mining Limited. Announcement • Jan 10
Catalyst in Talks for Vango Takeover Catalyst Metals Limited (ASX:CYL) has flagged a takeover of Vango Mining Limited (ASX:VAN), confirming it was already in talks to acquire the Sydney-based gold explorer. Catalyst Metals announced on the ASX that it was in confidential discussions with Vango Mining over a potential combination transaction with Catalyst as the acquirer. "However, as no transaction has been agreed and the discussions are ongoing, Catalyst is not yet in a position to provide further details," the company said. "There is no certainty that the discussions will lead to a transaction being agreed. Catalyst will keep the market informed in accordance with its continuous disclosure obligations." Catalyst Metals owns a 90% interest in the Minnie Creek project, which covers 872 square kilometres of land in the Upper Gascoyne region of Western Australia. Announcement • Nov 24
Vango Mining Limited Announces Drilling Results from the 100% Owned Marymia Gold Project, 300Km Northeast of Meekatharra in the Mid-West Region of Western Australia Vango Mining Limited announced high-grade gold intersections from its latest phase of drilling at the Triple-P and B Zone open pits on the 100% owned Marymia Gold Project, 300km northeast of Meekatharra in the Mid-West region of Western Australia. These high-grade gold results come from an initial programme of seven, wide-spaced reverse circulation (RC) drillholes for 2,057 metres, which successfully targeted areas of mineralisation below the Triple-P and B Zone open pits. All seven holes intersected anomalous gold mineralisation with six of the holes returning significant gold intersections, as follows: 1m @ 3.91 g/t Au from 44m in VPPPRC0024; 1m @ 7.98 g/t Au from 73m in VPPPRC0024; 1m @ 1.55 g/t Au from 80m in VPPPRC0024; 3m @ 6.36 g/t Au from 86m in VPPPRC0024; 1m @ 2.6 g/t Au from 205m in VPPPRC0024; 1m @ 1.03 g/t Au from 212m in VPPPRC0024; 1m @ 2.06 g/t Au from 163m in VPPPRC0025; 12m @ 0.64 g/t Au from 247m in VPPPRC0025; incl 1m @ 1.19 g/t Au from 248m; and 1m @ 2.49 g/t Au from 253m; 2m @ 3.76 g/t Au from 178m in VPPPRC0026; incl 1m @ 5.62 g/t Au from 179m; 12m @ 1.14 g/t Au from 196m in VPPPRC0026; 1m @ 1.01 g/t Au from 240m in VPPPRC0026; 1m @ 0.77 g/t Au from 165m in VPPPRC0027; 1m @ 0.75 g/t Au from 212m in VPPPRC0027; 6m @ 0.97 g/t Au from 58m in VPPPRC0029; incl 3m @ 1.49 g/t Au from 58m; 1m @ 1.19 g/t Au from 149m in VPPPRC0029; 2m @ 3.72 g/t Au from 200m in VPPPRC0029; 1m @ 0.78 g/t Au from 170m in VPPPRC0030; 1m @ 0.72 g/t Au from 176m in VPPPRC0030; and 1m @ 0.89 g/t Au from 196m in VPPPRC0030. Commentary on Results - Triple-P and Zone are interpreted to be the same zone of mineralisation, offset by a significant fault over a combined strike length of in excess of 1km. The shallow dipping/plunging high-grade gold mineralisation at Triple-P and B Zone is associated with silica (quartz) and sulphide mineralisation (arsenopyrite +/- pyrrhotite, pyrite, chalcopyrite) and hosted by Mafic rocks, interpreted to be the Plutonic Mine-Mafic. Early interpretation of these deeper holes indicates a potential repeat of geology and mineralisation potentially associated with late stage faulting. The exact position and nature of these faults will likely require closer spaced drilling to fully define their significance and the level of gold endowment. Results from the shallow parts of VPPPRC0024 are highly encouraging, in that the system appears to continue and may have potential to host further open pit resources. Similarly, the shallow results in VPPPRC0029 represent another zone that warrants further drill testing. The holes in the recently completed drilling at Triple-P and B Zone were drilling 80m spacing, and between 100 and 200m down dip from previous mineralisation. Drilling at Apex Target - A 640 metre - 4-hole RC program was also completed at the Apex prospect to follow up low-grade gold mineralisation intersected in previous drilling. Results showed further anomalous gold and low-grade supergene copper, and a full analysis of this significance will be undertaken over the coming period. Drilling at Mareast Target - Drilling was also completed at a target adjacent to the Mareast prospect on an area under cover to the north-east which hosts a zone of greenstone. This drilling was designed to test bedrock for potential greenstones and anomalism. Eight holes were drilled for 807 metres of RC drilling. Granite was intersected in all holes and no anomalous zones were located. 
