Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
23 November 2020
Vast Resources plc
(‘Vast’ or the ‘Company’)
First commercial sale of concentrate confirmed at Baita Plai
Vast Resources plc, the AIM-listed producer & development company, is pleased to report that the first commercial sale of concentrate produced at its Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania is expected to conclude on Wednesday 25 November.
The Company received confirmation over the weekend, from Mercuria, the Company’s offtake partner, that the sale will conclude on this date, following a delay from the previously anticipated schedule, due to availability of the nominated independent technical inspectors who are required to be present on site on behalf of the buyer in order to release the shipment.
**ENDS**
For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:
| Vast Resources plc | www.vastplc.com |
| Beaumont Cornish - Financial & Nominated Adviser | www.beaumontcornish.com |
| SP Angel Corporate Finance LLP – Joint Broker | www.spangel.co.uk |
| Axis Capital Markets Limited – Joint Broker | www.axcap247.com |
| St Brides Partners Limited | www.stbridespartners.co.uk |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania 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 an 80% interest in 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.
The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.