Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
26 October 2020
Vast Resources plc
(‘Vast’ or the ‘Company’)
Manaila Polymetallic Mine Update
Vast Resources plc, the AIM-listed production and development company, is pleased to update the market on progress at its Manaila Polymetallic Mine (‘Manaila’) and the adjacent Manaila Carlibaba Extension Project in Romania (‘Manaila Carlibaba’).
Further to the announcement made on 30 June 2020 regarding the granting of the Manaila Carlibaba Exploitation Licence, which allows the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area, the Company is pleased to update the market that its application to renew the Manaila mining licence for a further period of five years, to 29 October 2025, has been duly granted. The extended mining licence covers the larger Manaila Carlibaba licence area.
For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:
Vast Resources plc
Beaumont Cornish - Financial & Nominated Adviser
SP Angel Corporate Finance LLP – Joint Broker
Axis Capital Markets Limited – Joint Broker
St Brides Partners Limted
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 production and development 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 Baita Plai Polymetallic Mine. Baita Plai is located in the Apuseni Mountains, Transylvania, an area which hosts Romania’s largest polymetallic mines. Work is now currently underway towards the first sale of copper concentrate as well as efforts in place to establish a maiden Reserve & Resource Report under the JORC code.
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.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.