Frequently Asked Questions (FAQ)
Here are the questions mostly asked by our shareholders, partners and people whom we work with.# 1.0 About Virgin Gold
* 1.01 What is Virgin Gold?
o Virgin Gold Mining Corporation (VGMC) is an investment holding company that ventures in gold mining and exploration.
* 1.02 Where is Virgin Gold based?
o Virgin Gold is based in Panama, an international offshore tax-free financial center.
* 1.03 Where and what does Virgin Gold operate in?
o Virgin Gold currently operates in parts of Africa and South America and is focused on growing shareholders’ value through joint ventures, acquisitions, exploration and the development of potentially large-scale gold mining projects.
* 1.04 Why is Virgin Gold based off-shore while operating onshore?
o Virgin Gold utilizes various offshore vehicles to facilitate its onshore business operations. This means that we are able to generate maximum revenue and legitimately pay tax-free dividends to our shareholders.# 2.0 About Virgin Gold Convertible Preferred Stocks (CPS)
* 2.01 What is Virgin Gold CPS?
o Virgin Gold is currently undergoing an exercise that issues fresh Convertible Preferred Stocks (CPS). It invites willing investors worldwide to join in this offer. CPS is a type of stock that has conversion prices named at issuance, so it can be converted to the company's common stocks at the set rate. Virgin Gold CPS holders will receive fixed monthly dividends and reserve full rights to convert their stocks into common stocks. This can be done by paying 50% of the price difference between their CPS subscription price and IPO price when Virgin Gold launches an Initial Public Offering (IPO). For example, if a Virgin Gold CPS holder subscribed his CPS at $1.20 and the IPO offering price is $4.20; he will then need to pay 50% x (4.20 – 1.20) = $1.50 per share in order to convert his CPS to public listed common shares.
* 2.02 What if I do not wish to convert my Virgin Gold CPS into common stocks during IPO?
o We will refund to you the full amount of monies you paid to subscribe to your CPS.
* 2.03 What benefits do Virgin Gold CPS holders have?
o Virgin Gold CPS holders are entitled to a fixed monthly dividend payment as agreed at the time of subscription, are able to enjoy appreciation of the corporation shares value and have an interest free trading margin for holding gold position.
* 2.04 How would I know if I am allowed to subscribe to Virgin Gold CPS under financial regulations of my country?
o Potential investors should consult local professional financial and legal advisors to obtain advice in relation to their country’s financial regulations before subscribing to Virgin Gold CPS or referring potential investors.
* 2.05 What is the minimum and maximum number of shares I can subscribe to?
o The minimum and maximum amount of shares that you can subscribe to is from 1,000 to 999,900.
* 2.06 How can I subscribe to Virgin Gold CPS?
o You may begin subscribing to CPS once you have credits in your credit account. You can do so by logging on to your online shareholder account. Click on the “1.0 Account” link, and then “1.11 Subscribe Shares”. Fill in with the number of shares you wish to subscribe to. The amount of credits needed for subscription is equals to the number of shares multiplied by the price per share. To learn more about “Credit Top Up” within your credit account, please click here.
* 2.07 When should I expect my first return after I subscribed to CPS?
o Your return is in the form of dividend in gold ounce(s) and will be credited into your gold account every month. If you subscribed to Virgin Gold CPS on the 3rd of January, you will receive your dividend on the 3rd day of every month. On months when there are no 29th, 30th and 31st days, your dividend will be paid on the next payment days.
* 2.08 How much dividend can I expect from Virgin Gold CPS?
o Preferred Stock holders would have had their dividend amounts fixed at the time when they subscribed to their shares. If the dividend offered/agreed during subscription was 1 ounce per 10,000 shares, you will then receive 1 ounce as per agreed.
* 2.09 Which account would the dividend be paid into?
o All Virgin Gold CPS dividends are credited in the shareholder’s gold account.
* 2.010 Why are dividends paid in units of gold?
o As a gold mining company, it is natural that returns come in units of gold. Returns being paid in gold also help in safeguarding the interests of both the company and our shareholders. Please refer to links "Our Investors"---> "Risk Factors" on our website for more information.
* 2.011 Can I unsubscribe from my shares?
o Shareholders may unsubscribe from their purchased shares after a minimum of 45 days’ notice to the company.
* 2.012 How do I unsubscribe from my shares?
o Logon to your shareholder’s portal; click on the “1.11 Subscribe Shares” link and select transaction/s that you want to unsubscribe from.
* 2.013 If I subscribed 20,000 shares in one transaction, can I unsubscribe 5,000 shares from that transaction?
o No, you will need to unsubscribe from the full transaction amount each time. In this case, you will need to unsubscribe from all the 20,000 shares and not the partial 5,000 shares.
* 2.014 Are there requirements that I should fulfil before I can unsubscribe from my shares?
o Your Gold Trading account must not have any outstanding/open deals when you unsubscribe from your shares. This is because your trading limit is the result of your shares subscription. Should you need to unsubscribe from your shares, you will need to make sure that your trading account’s unrealized profit/loss is equals to zero.
* 2.015 I tried to unsubscribe from my CPS online but the system does not allow me to do so. Why is that so?
o If you have any gold trading transaction that is still in the "Open" status, you may not be allowed to unsubscribe from your CPS until the transaction status is "Closed". You may only unsubscribe from your shares after 45days of subscription.
* 2.016 Can all Virgin Gold CPS be unsubscribed?
o All purchased Virgin Gold CPS can be unsubscribed. Those obtained from Direct Referral Bonus/Free CPS issued by Virgin Gold cannot be unsubscribed.
* 2.017 How can I re-invest my CPS dividends?
o Since your dividend is paid in ounces of gold, you will need to convert your gold units into credit, and then subscribe more Virgin Gold CPS through your credit account.
* 2.018 Is Virgin Gold CPS transferable among shareholders?
o Yes, Virgin Gold CPS can be transferred to another active shareholder (shareholder who maintains a minimum of 1,000 Virgin Gold CPS shares).
* 2.019 If I subscribed 10,000 shares in one transaction, can I transfer 3,000 shares to another shareholder?
o Yes, but before you transfer the shares, you will first need to close all outstanding/open transactions in your Gold Trading account. This is because your trading margin is directly correlated to the amount of shares that you have in hand. * Legal
o 7.01 Is it legal to refer my friend to Virgin Gold?
+ Please enquire your local legal and financial consultants.
o 7.02 Why is Virgin Gold not open to applicants of all nationalities?
+ From all political, legal and business perspectives, we are currently either unable or not in a suitable position to offer our shares to residents and citizens in some countries.
For more detailhttp://vgmc.com/faq.asp#401