Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
MORE VASTY BABY Projects:
Manaila Carlibaba Project
The Manaila Carlibaba project is an important project for Vast Resources. The aim is to restart the project after Baita Plai and the Chiadzwa Community Concession enter peak production levels.
The 138.6-hectare Manaila-Carlibaba exploration licence has a JORC 2012 compliant Measured and Indicated Mineral Resource of 3.6Mt grading 0.93% copper, 0.29% lead, 0.63% zinc, 0.23g/t gold, and 24.9g/t silver, as well as Inferred Mineral Resources of 1.0Mt grading 1.10% copper, 0.40% lead, 0.84% zinc, 0.24g/t gold, and 29.2g/t silver.
Vast proposes to build a larger mining and processing facility at Manaila-Carlibaba, which will eliminate the need for expensive road transport of mined ore to the existing processing facility at Iacobeni, about 30 kilometres distant and its preliminary studies suggest the prospect of a new open-pit mine to explore mineral resources to a depth of around 125 metres below the surface.
Blueberry Gold Project
Blueberry Project, is a 7.285kmsq brownfield area located in the “Golden Quadrilateral” which is in the area of the Baia de Aries mine, where Vast Resources has 29.41% interest.
Vast’s stake in Blueberry Gold Project is held through EMA Resources, which is a subsidiary company of Vast, which is expected to become a sole entity eventually to qualify for an IPO.
Vast will be in charge of future mining operations at Blueberry, as well as the exploration programme and the IPO process, in exchange for a fee of 10% of pre-IPO costs.
The Golden Quadrilateral offers strong polymetallic prospects and is said to have generated almost 55m ounces of gold in the past with soil samplings supporting sample values of up to 22.4g/t gold.
A drilling and assaying campaign is now ongoing, and it is expected to yield enough data to support an Inferred JORC Mineral Resource for gold and other polymetallic minerals such as silver, copper, lead, and zinc in one or more separate breccia pipes.
Zagra Licenses
Piciorul Zimbrului and Magura Neagra are collectively known as Zagra.
The 10km2 Piciorul Zimbrului prospecting permit is located in the Zagra-Telciu area in Bistrita-Nasaud County of Romania and lies adjacent to Vast’s 21km2 Magura Neagra prospecting permit.
After the initial exploratory work, Vast completed the drilling programme in the Piciorul Zimbrului licence, focusing on six previously detected veins with linked copper and gold mineralisation along an underground route constructed for 820m at a level of 835m above main sea level.
IPEG Cluj, the former state exploration corporation, has conducted 1,200m of underground development and diamond drilling, as well as 862m of surface diamond drilling and geological mapping over a 4km region.
Vast has also begun drilling in the Magura Neagra licence, to find polymetallic veins and regions of scattered sulphide deposit.
VASTY BABY Projects:
Romania Baita Plai
Baita Plai is located in Transylvania’s Apuseni Mountains, which is home to Romania’s largest polymetallic and uranium mines.
The mine has a complete infrastructure, comprising underground, surface, and processing equipment, as well as a fully working EU-registered tailings facility.
Baita Plai Mine focused on copper output in Q1 2022, with a 24.2% increase in tonnes milled and a 16.8% increase in Dry Metric Tonne production from the fourth quarter to the first quarter of 2022.
Mining was mostly low-grade ore during the quarter as the ramp down to sub-level 3 under level 18, which has now just intersected the Antonio skarn, was being built.
The Baita Plai Polymetallic Mine has a $107m NPV at 10%, before any improvement to the project’s economics including a possible increase in the resource and capacity at the mine. Vast
Tajakistan
Vast Resources announced a partnership in Tajikistan with Open Joint Stock Company Korkhonai Boygardonii Takob in early May.
Vast Resources has a 49% of the 50% stake in Central Asia Minerals and Metals Ore Trading (CAMM) which already holds a relationship with Takob, and Vast has an effective indirect interest in the Takob Project of 24.5%.
Tajikistan Open Joint Stock Company “TALCO” is the owner of Takob which owns the operating Takob fluoride and galena mine in Tajikistan and produces the fluoride concentrate which is sold to TALCO’s chemical division for the production of essential raw materials for primary aluminium production.
The mine reported in the past that it contains 30g/t silver and 1-2g/t gold in situ and according to the deal, the mine will have an output of 7,000 tonnes of ore per month with a minimum of 1.5-2% lead, 1.2-1.4% zinc, and 27% fluoride, along with a supply of two months worth of output on-site.
The terms of the deal also state that CAMM will manage and execute the project and supply the equipment, technology, and technical experience to update and optimise the mine’s processing facility for which CAMM has acquired funding. In return, CAMM will receive 50% of net revenue from the sale of non-ferrous concentrate and precious metals.
Vast Resources will also earn a 12.25% royalty on all sales of the non-ferrous concentrate and any other metals generated for its participation in the collective group, in addition to the fees payable under the services agreement with CAMM.
Ohhh yes baby Vasty.....when it's gone it's gone....
https://www.youtube.com/watch?v=t9ZbABaXekU
We all know this share has legs, when she moves she will move fast.... I have added more and keep adding no brainer.
Andrew Prelea, Chief Executive Officer of Vast Resources PLC, commented:
“We now have our second Mantis rig on site at Baita Plai, which is a critical piece of equipment to support the rapid increase in production expected through the implementation of long hole stope mining. This rig is being deployed on 18 level during the course of this week and, together with the other operational developments that are being introduced over the coming weeks, we expect to see a significant improvement in our production profile from the end of the current quarter onwards.”
well done joey, I think the share drop was well overdone, this was trading above £3 six months ago, company still pay dividend too, to me it's no brainer