AFCR African Con

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   22 September 2015 
 
   Vast Resources plc 
 
   ("Vast" or "the Company") 
 
   Maiden sale of copper concentrate at Manaila Polymetallic Mine 
 
   Vast Resources plc, the AIM-listed resource, development and production 
company, is pleased to announce that it has concluded a maiden sale of 
approximately 450 tonnes of concentrate at its 50.1 per cent. owned 
Manaila Polymetallic Mine in Romania ("Manaila"). 
 
   Of the concentrate sold, 40 tonnes constituted stock on hand produced 
prior to the acquisition by Vast, with the balance derived from 11,960 
tonnes of ore mined in the Company's first month of operations from 14 
August 2015 to 14 September 2015. The grade of the copper concentrate 
was 21.2% and the head grade was 1.19%. 
 
   The period was one where the pit had to be rehabilitated and made safe, 
the plant was in the process of recommissioning, and all procedures 
whether for mining or processing were required to be initiated, 
developed, and tested.  As a result of these factors the concentrate 
sold is not expected to be representative of the standard obtained on a 
regular basis once all systems are fully in place.  In particular the 
installation of the flotation line for lead and zinc has yet to be 
completed and consequently no credit has been obtained for these 
minerals. It is expected that completion of the lead and zinc flotation 
line and the establishment of a standard quality of concentrate will be 
achieved within four to eight weeks. 
 
   The Company notes that the production targets announced on 7 July 2015 
of 10,000 tonnes mined per month and an increase to above 19% copper in 
the concentrate have both been achieved.  Furthermore the head grade of 
1.19% Cu for the initial production corresponds well with the reported 
in-situ grade of 1.25% Cu for the Manaila open pit. 
 
   Andrew Prelea, President of Vast Romania, said: 
 
   "The achievements since acquisition of the Manaila Polymetallic Mine are 
remarkable and exemplify what can be achieved in a short time in 
Romania.  The opportunities in country will continue to grow as the Vast 
team develops, whilst achieving targets." 
 
   Roy Pitchford, Chief Executive Officer, commented: 
 
   "Notwithstanding that the maiden concentrate sale is not representative 
of steady state concentrate that will be produced, the first production 
income earned by the Company post its evolution from an exploration to a 
mine production company is a very satisfying milestone achievement.  A 
special thank you is extended to the Romanian team for their hard work 
and commitment to securing the first concentrate sale. We look forward 
to working together to improve and increase the quality and quantity of 
concentrate, and to developing our mining operations in Romania." 
 
   ** ENDS ** 
 
   For further information visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc                                        +44 (0) 1622 816918 
 Roy Tucker (Finance Director)                             +44 (0) 7920 189012 
 
  Roy Pitchford (Chief Executive Officer)                  +263 (0) 7721 69833 
                                                           +40 (0) 7411 11900 
                                                           +44 (0) 7793 909985 
 
  Strand Hanson Limited - Financial & Nominated Adviser    www.strandhanson.co.uk 
  James Spinney                                            +44 (0) 20 7409 3494 
  James Bellman 
 
  Daniel Stewart and Company plc - Joint Broker            www.danielstewart.co.uk 
  Martin Lampshire                                         +44 (0) 20 7776 6550 
  David Coffman 
 
  Dowgate Capital Stockbrokers Ltd - Joint Broker          www.dowgatecapitalstockbrokers.co.uk 
  Jason Robertson                                          +44 (0)1293 517744 
  Neil Badger 
 
  St Brides Partners Ltd                                   www.stbridespartners.co.uk 
  Charlotte Heap                                           +44 (0) 20 7236 1177 
  Hugo de Salis 
 
 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Vast Resources plc via Globenewswire 
 
   HUG#1953593 
 
 
  http://www.acrplc.com/ 
 

(END) Dow Jones Newswires

September 22, 2015 02:00 ET (06:00 GMT)

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