Vast Resources plc First Commercial Sale Of Concentrate Confirmed At Baita Plai

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   23 November 2020 
 
   Vast Resources plc 
 
   ('Vast' or the 'Company') 
 
   First commercial sale of concentrate confirmed at Baita Plai 
 
   Vast Resources plc, the AIM-listed producer & development company, is 
pleased to report that the first commercial sale of concentrate produced 
at its Baita Plai Polymetallic Mine ('Baita Plai') in Romania is 
expected to conclude on Wednesday 25 November. 
 
   The Company received confirmation over the weekend, from Mercuria, the 
Company's offtake partner, that the sale will conclude on this date, 
following a delay from the previously anticipated schedule, due to 
availability of the nominated independent technical inspectors who are 
required to be present on site on behalf of the buyer in order to 
release the shipment. 
 
   **ENDS** 
 
   For further information, visit 
https://www.globenewswire.com/Tracker?data=W6pUhmi2V3CassuDPz6KqNUd2hDfHCrrjy4CMkiBVd7gHrYgOm75dswmL48VK0LPMvAWkxfaF256F1xuQRa5vA== 
www.vastplc.com, follow the Company on Twitter @vast_resources and 
LinkedIn, or please contact: 
 
 
 
 
Vast Resources plc                                www.vastplc.com 
 Andrew Prelea - CEO                               [phone] 
 Andrew Hall 
Beaumont Cornish - Financial & Nominated Adviser  www.beaumontcornish.com 
 Roland Cornish                                    [phone] 
 James Biddle 
SP Angel Corporate Finance LLP -- Joint Broker    www.spangel.co.uk 
 Richard Morrison                                  [phone] 
 Caroline Rowe 
Axis Capital Markets Limited -- Joint Broker      www.axcap247.com 
 Richard Hutchison                                 [phone] 
St Brides Partners Limited                        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"). 
 
   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 Community Diamond Concession, Chiadzwa, 
in the Marange Diamond Fields. 
 
 
 
 

(END) Dow Jones Newswires

November 23, 2020 02:00 ET (07:00 GMT)

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