Vast Resources plc Heritage Diamond Concession Update

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   17 June 2019 
 
   Vast Resources plc 
 
   ("Vast" or the "Company") 
 
   Heritage Diamond Concession update 
 
   Vast Resources plc, the AIM-listed mining company, is pleased to inform 
the market that following meetings that took place in Harare last week 
between Vast senior management, the local community leaders and the 
parastatal Zimbabwe Consolidated Diamond Company Ltd (ZCDC) a road map 
to closing the agreements that will enable the Company to mine on the 
Heritage Concession has now been established. 
 
   The agreements concerning the Heritage Diamond Concession will now be 
directly between the Company and the ZCDC rather than the local 
community, but the local community will be maintained as a beneficial 
recipient of shared profits as per the original agreement. 
 
   Andrew Prelea, Chief Executive Officer of Vast, commented: 
 
   "After taking part in the meetings last week with our senior management, 
the community chiefs and ZCDC, I am pleased to say that the timeline to 
closing the agreements will now be accelerated.  I plan to return to 
Zimbabwe shortly for what I hope will be the finalisation of the 
contractual terms, and also to establish the commencement of the 
project. 
 
   "This amendment to the structure of the arrangement should not only 
accelerate the process to commencement, but should also provide the 
Company further opportunities to work with the ZCDC." 
 
   **ENDS** 
 
   For further information, visit www.vastresourcesplc.com or please 
contact: 
 
   Vast Resources plc 
 
   Andrew Prelea (Chief Executive Officer) 
 
   www.vastresourcesplc.com 
 
   [phone] 
 
 
 
 
Vast Resources plc 
 Andrew Hall 
 
   www.vastresourcesplc.com 
 
   [phone] 
 
   Beaumont Cornish - Financial & Nominated Adviser 
 
   Roland Cornish 
 
   James Biddle 
 
   www.beaumontcornish.com 
 
   [phone] 
 
   SVS Securities Plc -- Joint Broker 
 
   Tom Curran 
 
   Ben Tadd 
 
   www.svssecurities.com 
 
   [phone] 
 
   SP Angel Corporate Finance LLP -- Joint Broker 
 
   Richard Morrison 
 
   Caroline Rowe 
 
   www.spangel.co.uk 
 
   [phone] 
 
 
 
 
 
   Blytheweigh 
 
   Tim Blythe 
 
   Megan Ray 
 
   www.blytheweigh.com 
 
   [phone] 
 
   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"). 
 
   Notes 
 
   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 finalising the joint venture mining agreement on 
the Heritage Concession (Block T1A of the Marange Diamond Fields) in 
Zimbabwe. 
 
   The Company's portfolio includes an 80% interest in the Baita Plai 
Polymetallic Mine in Romania, where work is currently underway towards 
developing and recommissioning the mine on completion of funding. 
 
   Vast Resources owns the Manaila Polymetallic Mine in Romania, which was 
commissioned in 2015, currently on care and maintenance, and is focused 
on its expansion through the development of a second open pit operation 
and new metallurgical complex at the Carlibaba Extension Area. 
 
   Attachment 
 
 
   -- Heritage Diamond Concession update. 
      https://ml-eu.globenewswire.com/Resource/Download/a8919e8b-3d0b-4b7b-8118-6498444fd5c1 
 
 
 
 
 

(END) Dow Jones Newswires

June 17, 2019 02:00 ET (06:00 GMT)

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