Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
March 24
New Copper Offtake Secured with Trafigura for Baita Plai
Vast Resources plc, the AIM-listed mining company, is pleased to announce that it has secured a new exclusive offtake agreement with Trafigura Group Pte (‘Trafigura’) for all copper concentrate (‘the New Offtake’) produced at the Company’s 100% owned Baita Plai Polymetallic Mine in Romania (‘Baita Plai’). The New Offtake builds on Vast’s existing relationship with Trafigura
Copper concentrate production is ramping up at Baita Plai with dry metric tonnes increasing by 24% from Q4 2022 to Q4 2023. In addition, as previously reported, the Company is currently working to accelerate development of the underground decline access ramp at Baita Plai, which is expected to substantially increase productivity through reduced underground haulage times and also provide faster access to high grade ore at depth. As a result, the Company expects the overall grade of concentrate produced at Baita Plai to increase, and for there to be a reduction in grade variability which will align with the Company’s offtake objectives with Trafigura.
Vast has been developing a relationship with Trafigura, one of the world’s leading independent commodity trading and logistics companies, since early 2022 and we are delighted to report this new exclusive offtake over our producing asset in Romania. The terms of the offtake ensure that Vast will benefit from the widely forecast price increase over the coming months and into 2025 as global supply struggles to meet demand, with UBS going as far as to say that ‘a copper supply crunch is unavoidable’. As a Company in production, which continues to ramp up with limited additional capex required, Vast is in a solid position to capitalise on these market dynamics through its new offtake with Trafigura.”
April 24
At the same time the Company is also pleased to announce that discussions with the owner of the Swiss investment company (also the owner of the PGM metals subject to the Platinum Group Metals agreement and referred to above and in the Company’s Circular of 14 February 2024) for the provision of major restructuring finance for the Company, including payment of the amounts due to Alpha as set out above, have now reached an advanced stage
Tajikistan
Processing project – Production at the mine was stopped during the winter due to extreme cold weather, but mining restarted at the beginning of March. 12,000 tons of ore has been stockpiled and is ready for processing. In addition, underground mining is continuing and will accumulate a two-month stockpile to be available at all times.
It is planned to fully insulate the plant so that there is no need for any stoppage next winter. The cost of this will not be for the account of the Company.
Takob and the Company are also in discussions with a new offtake partner to sell the fluorspar concentrate which would result in further revenue streams of the producing mine for
Reams of the producing mine for which the Company expects to receive financial compensation.
Aprelevka – The Company had placed a team on the ground at Aprelevka for four weeks working within the production facility, and this has resulted in an improvement in recovery by 15%. The Company has also appointed consultant mining engineers who arrived on site on 11 April in order to advise on improving efficiencies at the mine and improving mining techniques. A programme for reprocessing high grade tailings together with fresh ore is also being implemented and is expected to yield results within the next two quarters.
The current plant installed capacity is 1,800tpd and is currently operating at 800tpd. The reprocessing of high-grade tailings will increase the plant production to over 1,000tpd while improvements in the mining and efficiencies in the plant continue. That, coupled with the recovery increases, will bring Aprelevka back to historic gold production levels.
Finally, during the Company’s recent site visit of the 400ha Kushmullo exploration licence area, the team encountered a high-grade copper hydroxide outcropping on which the Company tested copper grades between 7-37% at surface. The exploration programme referred to in the announcement of 16 January 2024 and which was carried out between 2019 and 2022 did not test for copper. We are therefore sending all the cores taken in this area for re-testing of copper and other non-ferrous metals.
The Historic Parcel
The Company continues to have reason to believe that the delivery of the Parcel will be finalised at some stage
PGM Marketing contract
Sample material is out with three interested purchasers, which purchasers include the Nikash Group with whom a contract was announced on 22 January 2024. The sample grades have been good but very variable between the different PGMs, and the variability has necessitated a longer period for testing than might otherwise have been the case. The test work being carried out will allow the concentrates to be separated into categories to maximise payables on a batch-by-batch basis. As a result of these processes, no sale of material has yet taken place, but the first sale is then expected to occur and this will be confirmed in due course