The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVast Res Share News (VAST)

Share Price Information for Vast Res (VAST)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.31
Bid: 0.30
Ask: 0.32
Change: -0.03 (-8.82%)
Spread: 0.02 (6.667%)
Open: 0.34
High: 0.38
Low: 0.31
Prev. Close: 0.34
VAST Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Vast Resources signs marketing deal with sales value of USD100 million

Mon, 22nd Jan 2024 11:32

(Alliance News) - Vast Resources PLC on Monday said it executed a three-year exclusive marketing agreement for distributing high-grade platinum group metals concentrates produced in the EU.

Vast Resources is a mine development company with interests in Romania, Tajikistan and Zimbabwe.

The agreement is with a "Swiss investment company", whom Vast didn't name. Vast will receive a 2.5% commission based on the sales value of the concentrates, providing an additional revenue stream.

As part of the agreement, on behalf of the Swiss investment company, Vast Resources received an offer from Nikash Group to buy platinum group metal concentrate containing an average of 15% platinum plus other payable materials.

Dubai-based Nikash is a general trading company that originally specialised in the agricultural sector but now trades in all physical commodities, including metals.

"Under the offer, Vast will arrange the sale and delivery of, on average, two tonnes of high-grade platinum concentrate per month over a period of up to one year," Vast Resources said.

The estimated sales value based on seller assays is anticipated to be over USD100 million, Vast said.

Chief Executive Officer Andrew Prelea said: "This marks the beginning of an important additional revenue stream for Vast, building on our operations in Romania and our interests in Tajikistan, as we look to strengthen the financial performance of the company throughout 2024. We anticipate that this agreement will result in further collaborative opportunities that will strengthen the operating capabilities of Vast."

Vast Resources shares were up 11% to 0.14 pence each on Monday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
23 Aug 2021 12:32

Botswana Diamonds and Vast Resources joint venture buys Ghaghoo mine

Botswana Diamonds and Vast Resources joint venture buys Ghaghoo mine

Read more
23 Aug 2021 10:31

Vast Resources eyes acquisition of Gem Diamonds Botswana

(Sharecast News) - Mining company Vast Resources has agreed to acquire Gem Diamonds Botswana, which owns the Ghaghoo diamond mine, through a joint venture with Botswana Diamonds.

Read more
10 Aug 2021 19:24

TRADING UPDATES: Barkby expects revenue growth; Beeks trading in line

TRADING UPDATES: Barkby expects revenue growth; Beeks trading in line

Read more
10 Aug 2021 15:07

DIRECTOR DEALINGS: 3i team buy; Scopia trims Indivior stake further

DIRECTOR DEALINGS: 3i team buy; Scopia trims Indivior stake further

Read more
10 Aug 2021 11:39

IN BRIEF: Vast Resources raises GBP1.8 million to restructure debt

IN BRIEF: Vast Resources raises GBP1.8 million to restructure debt

Read more
18 Jun 2021 20:17

IN BRIEF: Vast appoints Wardell Armstrong for Baita Plai estimate

IN BRIEF: Vast appoints Wardell Armstrong for Baita Plai estimate

Read more
9 Jun 2021 14:00

IN BRIEF: Vast signs collective bargaining agreement at Baita Plai

IN BRIEF: Vast signs collective bargaining agreement at Baita Plai

Read more
27 Apr 2021 10:30

AIM WINNERS & LOSERS: Abingdon Health warns results to miss forecasts

AIM WINNERS & LOSERS: Abingdon Health warns results to miss forecasts

Read more
27 Apr 2021 10:29

Vast Resources says mining has started at Baita Plai polymetallic mine

Vast Resources says mining has started at Baita Plai polymetallic mine

Read more
20 Apr 2021 15:53

Director dealings: Vast Resources CEO ups stake

(Sharecast News) - Vast Resources revealed on Tuesday that chief executive Andrew Prelea had acquired 25.0m ordinary shares in the AIM-listed mining company.

Read more
13 Apr 2021 15:54

EXECUTIVE CHANGES: New chairs for Naked Wines, Countryside Properties

EXECUTIVE CHANGES: New chairs for Naked Wines, Countryside Properties

Read more
8 Apr 2021 14:28

EXECUTIVE CHANGES: Actual Experience chair to retire by 2022 AGM

EXECUTIVE CHANGES: Actual Experience chair to retire by 2022 AGM

Read more
30 Mar 2021 12:05

Vast Resources upbeat on new Baita Plai mine plan

(Sharecast News) - Mining company Vast Resources posted its new mechanised mine plan for the producing Baita Plai polymetallic mine in Romania on Tuesday, in line with its previous announcements.

Read more
17 Mar 2021 14:44

TRADING UPDATES: Novacyt expands VersaLab with rapid Covid tests

TRADING UPDATES: Novacyt expands VersaLab with rapid Covid tests

Read more
27 Jan 2021 14:37

Vast Resources Interim Loss Narrows Amid Favourable Currency Movements

Vast Resources Interim Loss Narrows Amid Favourable Currency Movements

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.