(Alliance News) - Vast Resources PLC on Wednesday reported higher concentrate production at its Baita Plai polymetallic mine in Romania in the second quarter of 2023.
The London-based mining company with projects in Romania and Zimbabwe said concentrate output in the second quarter rose 13% to 23,372 tonnes from 20,728 tonnes a quarter ago.
"The increase in production in June was due to the opening of sub level 5 which allows mining on multiple fronts," the company explained.
Chief Executive Officer Andrew Prelea said: "Our production goals are linked closely with our exploration activities, and the positive Phase 1 results reported post period end give the team further confidence in our ability to establish Baita Plai as a profitable long-life mine."
Vast Resources shares rose 1.9% to 0.32 pence each in London on Wednesday afternoon.
By Tom Budszus, Alliance News reporter
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Vast Res (VAST)