(Clarifies that financing discussions are with an unnamed Swiss investment company.)
Vast Resources PLC - mining company with operations in Central Asia, Eastern Europe and Africa - On April 29, notes that debt due to A&T Investments SARL, known as Alpha, is about USD5.5 million, with USD1.5 million of this due on May 7. A further USD1.5 million is due to be repaid 60 days from the first repayment. Further, Vast Resources is in advanced discussions with the owner of an unnamed Swiss investment company for the provision of major restructuring finance for Vast Resources, including debt owed to Alpha. Vast also owes Mercuria Energy Trading SA around USD3.9 million, with Mercuria confirming a further extension for this. Both Alpha and Mercuria are investment companies operating from Geneva, with Mercuria also involved in energy and commodities trading.
Meanwhile, licence extension documentation regarding the Baita Plai polymetallic mine in Transylvania, Romania, is being finalised so it can be submitted before the deadline which is next week Sunday. Finally, Vast Resources says production at its project in Tajikistan was stopped during the winter due to extreme cold weather, but mining restarted in early March.
By Tom Budszus, Alliance News slot editor
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Vast Res (VAST)