Vast Resources plc Update On First Sale Of Concentrate At Baita Plai
November 13 2020 - 6:45AM
UK Regulatory
TIDMVAST
U Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
13 November 2020
Vast Resources plc
('Vast' or the 'Company')
Update on first sale of concentrate at Baita Plai
Vast Resources plc, the AIM-listed producer & development company, is
pleased to update the market on progress at its Baita Plai Polymetallic
Mine ('Baita Plai') in Romania.
Following the previous announcements made on 22 & 26 October 2020
regarding the first sale of concentrate to Mercuria, the Company can
confirm that it has copper concentrate prepared and ready for the first
commercial delivery to the Port of Constanta in Romania. The Company
awaits confirmation of the vessel arrival ahead of being able to
formally announce the completion of the first sale to Mercuria. The
Company expects the formal completion of the first sale of concentrate
to take place the week commencing 16 November 2020 and in the meantime
the Company will provide footage of the preparations on its social media
pages.
The Company continues to produce both ore and concentrate and maintains
its Q4 2020 production and cashflow forecasts announced on 7 September
2020.
**ENDS**
For further information, visit
https://www.globenewswire.com/Tracker?data=1JYYHXBDGgTnvXEovCnZoEsk2091yU9bY_ln8zszjHN_p6jraM3UobM2lHEj54uIVmZpaQstzAiDTYY1Heuyhg==
www.vastplc.com, follow the Company on Twitter @vast_resources and
LinkedIn, or please contact:
Vast Resources plc www.vastplc.com
Andrew Prelea - CEO +44 (0) 20 7846 0974
Andrew Hall
Beaumont Cornish - Financial & Nominated Adviser www.beaumontcornish.com
Roland Cornish +44 (0) 020 7628 3396
James Biddle
SP Angel Corporate Finance LLP -- Joint Broker www.spangel.co.uk
Richard Morrison +44 (0) 20 3470 0470
Caroline Rowe
Axis Capital Markets Limited -- Joint Broker www.axcap247.com
Richard Hutchison +44 (0) 20 3206 0320
St Brides Partners Limited www.stbridespartners.co.uk
Susie Geliher +44 (0) 20 7236 1177
Charlotte Page
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.
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.
(END) Dow Jones Newswires
November 13, 2020 06:45 ET (11:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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