(Alliance News) - Miner Vast Resources PLC on Thursday said it raised GBP600,000 through placing of 392.2 million shares at 0.153 pence each.
Shares in the company closed up 0.2% at 0.17 pence each in London on Thursday.
The company plans to use the cash raised to maintain its working capital amid the conclusion of the Chiadzwa Community Diamond Concession joint venture in Zimbabwe and potential increased mobilisation and other costs due to the impact of the Covid-19 pandemic.
Vast also reconfirmed that that shipping of equipment from China remains all on track and that all equipment critical for the start of production at Baita Plai polymetallic mine in Romania is now on the water. Production at Baita Plai remains targeted to commence in July.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Vast Res (VAST)