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IN BRIEF: Vast Resources sees quarterly production rise at Baita Plai

Mon, 24th Oct 2022 07:28

Vast Resources PLC - London-based miner with projects in Romania and Zimbabwe - On Friday, says production from its Baita Plai polymetallic mine in Romania increased by 20% in the third quarter. The last month of the quarter saw an increase in output via the utilisation of Mantis rigs, resulting in a "significant increase in tonnes mined and the quality of the concentrate produced from an average of 16% in July and August to over 22% with peaks of 29%".

In September, underground production at Baita Plai amounted to 7,900 tonnes of ore. Overall third quarter production amounts to 15,673 tonnes or ore, compared to 13,020 in the previous quarter.

Chief Executive Officer Andrew Prelea says: "This has been a successful period which has seen us achieve the uptick in production from September that we have been working towards. I am wholly encouraged by the work that is continuing on the ground as we now plan for further increases in the remaining weeks of [the fourth quarter], and again in [the first quarter] 2023 and onwards."

Current stock price: 0.34 pence, losing 10% on Friday in London

12-month change: down 91%

By Xindi Wei; xindiwei@alliancenews.com

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15 Jan 2024 14:05

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4 Dec 2023 14:01

IN BRIEF: Vast Resources in talks to extend repayment of debts date

Vast Resources PLC - mining and resource development company with interests in Romania, Tajikistan and Zimbabwe - Announces discussions for an extension to its asset-backed debt facility with A&T Investments SARL and to tranche A of its prepayment agreement with Mercuria Energy Trading SA. The debt owed was due last week Thursday.

22 Nov 2023 15:53

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

6 Nov 2023 14:34

Vast updates debt agreements with A&T and Mercuria

(Sharecast News) - Mining company Vast Resources updated the market on its debt funding arrangements with A&T Investments (Alpha) and Mercuria Energy Trading on Monday.

6 Nov 2023 13:57

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31 Oct 2023 19:57

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19 Oct 2023 14:27

Vast Resources hails first loading of dry metric tonnes in Tajikistan

(Alliance News) - Vast Resources PLC on Thursday reported progress on its activities in Tajikistan.

6 Oct 2023 13:00

Vast Resources raises £1.82m to fund working capital

(Sharecast News) - Mining firm Vast Resources announced it had successfully raised £1.82m on Friday to fund its working capital and to meet its obligations in Romania.

6 Oct 2023 10:15

AIM WINNERS & LOSERS: Quartix falls as downgrades 2023 expectations

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6 Oct 2023 09:12

IN BRIEF: Vast Resources raises GBP1.8m via share placing

Vast Resources PLC - mining and resource development company with interests in Romania, Tajikistan and Zimbabwe - Raises GBP1.8 million via placing of 933.0 million new shares at 0.195 pence per share. Says the placing will be used for working capital and to support its Baita Plai mine in Romania. Says the funds will cover any unforeseen operational costs due to recent protest action and fund future expansion capital costs, drilling and mine development costs. Notes that it has begun commercial lead and zinc production at Baita Plai, while drilling continues and it plans to extend its licence in 2024.

4 Oct 2023 17:18

IN BRIEF: Vast Resources wins extensions relating to debt funding

Vast Resources PLC - mining and resource development company with interests in Romania, Tajikistan and Zimbabwe - Agrees a further extension to its asset backed debt facility with A&T Investments SARL and to tranche A of its prepayment agreement with Mercuria Energy Trading SA. Extension is to November 30. Says all terms and conditions of the debt remain the same.

4 Oct 2023 13:29

Vast Resources extends deadline for debt discussions

(Sharecast News) - Mining company Vast Resources announced on Wednesday that a further extension had been agreed upon over its ongoing debt discussions with investment firm A&T Investments (Alpha) and global energy and commodity group Mercuria Energy Trading.

2 Oct 2023 10:53

IN BRIEF: Vast Resources in talks to extend debt it owes

Vast Resources PLC - London-based mining company with projects in Romania and Zimbabwe - Confirms talks with A&T Investments SARL and Mercuria Energy Trading SA relating to a possible extension of tranche A of the prepayment agreement first announced in March 2018. The totality of debt that Vast Resources owes was due to be repaid last week Friday.

2 Oct 2023 10:15

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