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Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
21 June 2023
Vast Resources plc
(‘Vast’ or the ‘Company’)
Debt Extension Confirmation
Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022 and the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.
Further to the announcement made on the 15 May 2023, the Company has now finalised documentation regarding the settlement extension of the debt owed to Mercuria and Alpha to 30 June 2023 under the same terms as previously announced on 16 May 2022.
As part of the extension agreement the Company has agreed with Mercuria to extend their long-term equity option in the Company, first announced on 16 May 2022, to 30 December 2024. As previously stated the repayment is contemplated as being from the recovery of the historic settlement.
**ENDS**
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc | www.vastplc.com |
| Beaumont Cornish – Financial & Nominated Advisor | www.beaumontcornish.com |
| Shore Capital Stockbrokers Limited – Joint Broker | www.shorecapmarkets.co.uk |
| Axis Capital Markets Limited – Joint Broker | www.axcap247.com |
| St Brides Partners Limited | www.stbridespartners.co.uk |
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania, Tajikistan, and Zimbabwe.
In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.
The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA which owns 100% of the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.