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October Sale of Concentrate Confirmation
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
27 October 2022
Vast Resources plc
(‘Vast’ or the ‘Company’)
October Sale of Concentrate Confirmation
Vast Resources plc, the AIM-listed mining company, is pleased to announce an update to the announcement made on 21 October 2022.
The Company can confirm the sale of concentrate that was announced to be made in the first week of November 2022 has now been confirmed to be made in October 2022 with the vessel set to depart from Constanta Port, Romania on Saturday 29 October 2022.
**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 Vast Baita Plai SA’s producing 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 the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.
Vast has an interest in a joint venture company which provides a share of revenue generated from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.
