CEO - Definitive Turning Point!16 May 2022 10:44
Andrew Prelea, Chief Executive Officer of Vast Resources, commented:
"The successful repayment of Atlas marks a definitive turning point for the Company that the Board believes should restore fair value in our share price. As explained in our operations update of 3 May 2022, the investment and development work undertaken at Baita Plai over recent months together with the new revenue streams being introduced as a result of our interests in Tajikistan, are already reshaping our financial performance, and today's refinancing will we believe ensure these gains are translated into real returns for shareholders.
"I would like to thank Mercuria for its continued support in the Company and for its support in this transaction. In addition to this the participation of both Shore Capital, A&T Invesment and the Alpha principals and investors show further support in the Company. The oversubscribed Subscription and Placing now gives the opportunity for the Company to accelerate the planned initiatives to increase revenue and production levels at Baita Plai.
"Given that this refinancing is such a pivotal development for Vast, particularly when coupled with the various operational developments which are gaining pace at Baita Plai and elsewhere, the management intends to engage with shareholders on a variety of channels over the coming weeks including through a live presentation and Q&A session. More details will be made available over the coming days."