Vast Resources PLC - London-based mining company with projects in Romania and Zimbabwe - Raises GBP978,967 through a placing of 212.8 million shares at a price of 0.46 pence per share. Says it will use the cash for an immediate upgrade to underground equipment to maintain the underground production ramp up and the continuation of the ongoing drilling programme at the company’s Baita Plai Polymetallic mine in Romania. The company notes that Baita Plai is moving towards its name plate capacity of 14,000 tonnes per month in the first half of 2023, after seeing strong production and sales in the fourth quarter of 2022.
Current stock price: 0.48 pence, down 6.4% in London on Wednesday
12-month change: down 9.9%
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Vast Res (VAST)