Vast Resources plc Significant Further Progress On Baita Plai Association Licence

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   18 October 2017 
 
   Vast Resources plc 
 
   ("Vast" or "the Company") 
 
   Significant Further Progress on Baita Plai Association Licence 
 
   Vast Resources plc, the AIM-listed mining company with operations in 
Romania and Zimbabwe, is pleased to announce significant progress in 
connection with finalisation of the Baita Plai association licence, 
relating to the previously producing Baita Plai Polymetallic Mine in 
Romania. 
 
   Further to the selection of its 80% subsidiary, African Consolidated 
Resources SRL (AFCR) as announced on 30 August 2017, AFCR has been 
advised by letter that a board meeting of Baita SA was concluded on 16 
October requesting its shareholder - the Ministry of Economy - to 
approve the association on the licence for the exploitation and 
processing of the polymetallic ore from the Baita Bihor SA exploitation 
perimeter, which contains the Vast Resources 80% owned Subsidiary AFCR 
Polymetallic Mining assets in Baita Plai, in compliance with all the 
current legal provisions. 
 
   The letter continues by saying that the legal term for the shareholder's 
approval is 30 days but may be shorter; that on receipt of such approval 
AFCR and Baita SA shall lodge a "joint application" to Romania's 
National Agency for Mineral Resources ("ANRM"); and that upon the 
receipt of the preliminary agreement from ANRM "the association 
agreement will be signed in accordance with the agreed draft contract". 
 
   Baita SA also added in its letter, "We assure you that Baita SA will 
give all the necessary support to complete the association operation 
under the 999/1999 Exploitation Concession License of the polymetallic 
ore." 
 
   A further announcement will be made in due course. 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
Vast Resources plc                                www.vastresourcesplc.com 
 Roy Pitchford (Chief Executive Officer)           [phone] 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    [phone] 
 James Biddle 
 
Brandon Hill Capital Ltd - Joint Broker           www.brandonhillcapital.com 
 Jonathan Evans                                    [phone] 
Peterhouse Corporate Finance Ltd - Joint Broker   www.pcorpfin.com 
 Martin Lampshire and Fungai Ndoro                 [phone] 
St Brides Partners Ltd                            www.stbridespartners.co.uk 
 Susie Geliher                                     [phone] 
 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

October 18, 2017 02:00 ET (06:00 GMT)

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