JAKARTA (Yosefardi) – Vanguard Mining Corporation has signed a Memorandum of Understanding to acquire a 51% equity ownership in a Vietnam-based company that owns an 85.15-hectare silica sand concession and operates a 5-hectare factory in Central Vietnam since 2006.
Vanguard will begin the due diligence review of the concession and factory on December 5, 2014 before entering a definitive agreement for the closing of this transaction, if feasible. Besides this silica company, VNMC also currently investigates other producing mines for potential acquisition.
Vanguard has terminated the agreement to acquire the gypsum/limestone concession in Nusa Tenggara Timur, Indonesia.