In This Article:
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
27 June 2022
Vast Resources plc
(‘Vast’ or the ‘Company’)
Second Milling Circuit Completed at Baita Plai Polymetallic Mine
Vast Resources plc, the AIM-listed mining company, is pleased to announce that the second milling circuit in the processing plant at the Baita Plai Polymetallic Mine (“Baita Plai”) has been completed six weeks ahead of schedule.
The second milling circuit further optimises the operations at Baita Plai and doubles milling capacity at the plant. With two milling circuits fully functioning the two mills combined are capable of processing 14,000 tonnes per month.
Andrew Prelea, Chief Executive Officer of Vast Resources PLC, commented:
“Our mining volumes are steadily increasing, and are expected to increase dramatically with the implementation and ramp up of long hole stope mining commencing from next month. The commissioning of this second milling circuit – achieved six weeks ahead of schedule – will support increased concentrate production moving forward. Our operations at Baita Plai are ramping up encouragingly and I am confident that this will be reflected in our future production and sales reports.”
Market Abuse Regulation (MAR) Disclosure
Certain 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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”) until the release of this announcement.
**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, development projects and mining interests 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 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.