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(Alliance News) - Vast Resources PLC's shares fell sharply on Tuesday after the mining company said a USD13.5 million finance facility was not signed last week as expected.
The stock was trading 20% lower at 0.34 pence in London on Tuesday afternoon.
The financing formed part of an agreement Vast entered into with Katanga Mining Pvt Ltd and state-owned Zimbabwe Consolidated Diamond Company (Pvt) Ltd in regards to the Chiadwza Community diamond project.
Vast said: "The delay in signing the diamond agreement is purely a matter of availability due to international travel commitments of the relevant stakeholders. Discussions in line with previous expectations, save on timing, continue with both parties and the company looks forward to updating the market as and when there is anything further to report.
By Eric Cunha; ericcunha@alliancenews.com
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