Dear Shareholders,
Management has decided to fix the price of CPS-SILVER at USD0.95 per share and CPS-PLATINUM at USD1.30 per share for the months of May and June 2013.
This decision has been made based on the recent price correction of Silver and Platinum. We feel that the long term prospect of these precious metals remains very optimistic. Short term corrections are always expected due to the complexity of current financial products and structures that emphasize too much on speculations.
Many ETFs (Exchange Traded Funds), Open and Close funds that are heavily exposed to precious metals have suffered many losses as a result of recent price correction. This is not the case for Virgin Gold’s shareholders because of our excellent business philosophy. Dividends that are paid in Silver and Platinum keep the company’s financial position in excellent condition. In times of market volatility as we have seen this last month; I hope that shareholders are able to appreciate more our CPS-dividend payment model. A model that is derived based on the real production capacity of the company in paying dividend directly to its CPS holders.
The company is always actively looking for opportunities to increase its assets and income generating operations. With the recent price correction of precious metals, more opportunities have resurfaced and I expect to announce more good news in the next few months.
As for CPS-GOLD, I have come to understand that your shares may be listed within the next three (3) months, well ahead of schedule. Shareholders who have earlier booked the Option exercise price at USD0.58 have been given the priority to convert their Options to Shares from today, 1st of May until the 10th of May 2013. Those who decided to book the Options conversion later will have to pay a higher conversion premium. That is just how things work.
On behalf of the management, I thank you for your attention and support.
David Barrett
CEO – VGMC

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