TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   26 May 2017 
 
   Vast Resources plc 
 
   ("Vast" or "the Company") 
 
   Further update on Strategic Investment by SSCG Africa Holdings Ltd 
 
   Completion of Acquisition of remaining 49.9% of Sinarom Mining Group SRL 
 
   Vast Resources plc, the AIM-listed mining company with operations in 
Romania and Zimbabwe, is pleased to give a further update on the 
financing arrangement with SSCG Africa Holdings Ltd and its group 
("SSA") originally announced on 30 January 2017 and last updated on 22 
May 2017 (the "SSA Transaction") under which the Company was to receive 
gross proceeds of US$8 million principally to advance the Company's core 
activities in Romania.  This comprised a US$4 million payment for the 
sale of 49.99 per cent in the Company's principal Zimbabwean assets (the 
"Disposal") and a US$4 million long term loan, repayable in four years 
(the "Loan").  Completion of all aspects of the SSA Transaction were 
dependent on the approval of the assignment of 49.99 per cent. of Vast's 
loan account with Canape (the "Assignment") by the Reserve Bank of 
Zimbabwe ("RBZ") by 7 April 2017, later extended to 2 June 2017.  Final 
approval by RBZ remains outstanding. No proceeds have been received from 
the Disposal and US$3 million has been drawn down on the Loan. 
 
   The Company continues to work closely with the RBZ to conclude the 
Assignment, however in the interim period, as a show of continued 
support of Vast, SSA has agreed to advance the final US$1 million of the 
Loan. 
 
   In relation to the Company's acquisition of a 49.9% interest in Sinarom 
Mining Group SRL ("Sinarom"), as announced on 22 March 2017, US$735,000 
was due on 30 April as a final instalment for completion of the 
acquisition.  US$100,000 of this was paid on 30 April 2017 and the 
drawdown from SSA has been used to fund the US$635,000 balance.  . 
 
   The discussions referred to in the Company's announcement of 22 March 
2017 concerning further transactions in relation to Sinarom, and also 
relating to the advancement of the recently acquired Piciorul Zimbrului 
and Magura Neagra licences proximal to Manaila, continue and further 
announcements will be made in relation to this as appropriate. 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc                                www.vastresourcesplc.com 
 Roy Pitchford (Chief Executive Officer)           +44 (0) 20 7236 1177 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    +44 (0) 020 7628 3396 
 James Biddle 
Brandon Hill Capital Ltd - Joint Broker           www.brandonhillcapital.com 
 Jonathan Evans                                    +44 (0) 20 3463 5016 
Peterhouse Corporate Finance Ltd - Joint Broker   www.pcorpfin.com 
 Duncan Vasey                                      +44 (0) 20 7469 0936 
St Brides Partners Ltd                            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"). 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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 
 
 
  http://www.acrplc.com/ 
 

(END) Dow Jones Newswires

May 26, 2017 09:00 ET (13:00 GMT)