Vast Resources plc Baita Plai Project & Chiadzwa Community Diamond Project Update

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   23 March 2020 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Baita Plai Project & Chiadzwa Community Diamond Project Update 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to update 
the market on progress at its Baita Plai Polymetallic Mine "Baita Plai" 
in Romania and on progress on the anticipated Joint Venture Agreement 
between the Company's majority owned Katanga Mining Pvt Ltd (a joint 
venture company between the Company and the Chiadzwa Community 
Development Trust (CCDT)) and Zimbabwe Consolidated Diamond Company 
(Pvt) Ltd (wholly owned by the Government of Zimbabwe) concerning the 
Chiadzwa Community Diamond Project. 
 
   The Company can confirm as matters stand that the previously announced 
shipping updates made on 16(th) , 18(th) and 20(th) March 2020 remain on 
track and also that the Company still maintains the Baita Plai target 
for the commencement of production announced on 10(th) March 2020. 
 
   The Company can also confirm that following the announcement made on 
3(rd) March 2020 regarding the Chiadzwa Community Diamond Project, it 
still anticipates the conclusion of the Joint Venture by the end of 
March 2020. 
 
   Further announcements will be made to confirm the above or revise 
expectations as and when appropriate. 
 
   **ENDS** 
 
   For further information, visit www.vastplc.com or please contact: 
 
 
 
 
Vast Resources plc               www.vastplc.com 
 Andrew Prelea (Chief Executive   [phone] 
 Officer) 
 Andrew Hall 
Beaumont Cornish - Financial &   www.beaumontcornish.com 
 Nominated Adviser                [phone] 
 Roland Cornish 
 James Biddle 
SP Angel Corporate Finance LLP   www.spangel.co.uk 
 -- Broker                        [phone] 
 Richard Morrison 
 Caroline Rowe 
Blytheweigh                      www.blytheweigh.com 
 Tim Blythe                       [phone] 
 Megan Ray 
 
 
   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 an AIM listed mining company with mines in 
Romania and Zimbabwe focused on the rapid advancement of high quality 
brownfield projects by recommencing production at previously producing 
mines in Romania and commencement of the joint venture mining agreement 
on the Chiadzwa Community Concession Block of the Chiadzwa Diamond 
Fields in Zimbabwe. 
 
   The Company's portfolio includes an 80% interest in the Baita Plai 
Polymetallic Mine in Romania, where work is now currently underway 
towards developing and recommissioning the mine and the Community 
Concession Block in Chiadzwa, Zimbabwe. 
 
   Vast Resources owns the Manaila Polymetallic Mine in Romania, which was 
commissioned in 2015, currently on care and maintenance. 
 
   Attachment 
 
 
   -- Baita Plai Project & Chiadzwa Community Diamond Project Update 
      https://ml-eu.globenewswire.com/Resource/Download/c2a2cdca-95dd-4113-bc99-3707b85be08f 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 23, 2020 11:00 ET (15:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.