Romanian Press on BP25 May 2020 10:26
https://www.profit.ro/insider/companii/britanicii-de-la-vast-resources-atrag-1-milion-de-euro-pentru-baita-plai-19366724
The British from Vast Resources attracted a financing of 901,417 pounds (about 1 million euros), the funds being destined for the polymetallic mine from Bai?a Plai. With the money raised, the company will accelerate the drilling campaign and production tests at Bai?a Plai, where the results so far are above estimates. Accelerating the project will also help the company refinance the mine's debt. Last fall, the British signed for a financing of 13.5 million dollars, intended also for the reopening of the polymetallic mine from Bai?a Plai. Vast Resources received final approval from ANRM for the reopening of the Bai?a Plai mine in 2018. The mine was closed in 2013. Recently, the British appointed Adrian Badi?a, with a previous experience in the industry of about 20 years, in the position of general manager of the mine from Bai?a Plai. The British company also operates in Romania the Manaila polymetallic mine, from Suceava county and plans to develop a new polymetallic quarry in Cârlibaba, near the Manaila mine. The new quarry in Cârlibaba would be part, along with the one in Manaila, of an extended metallurgical complex, with a common processing unit, which will replace the current unit in Iacobeni. Also near Manaila, Vast Resources owns two more concessions, namely Piciorul Zimbrului and Magura Neagra, where the presence of copper and gold deposits was identified. The company is considering new drilling works to confirm and evaluate the deposits, which could be transformed into a new source of ores for the future metallurgical complex. In 2018, the company took over an indirect participation of 29.41% from the Geamana-Col?ii Lazarului perimeter (Blueberry perimeter), located near Baia de Arie? and Ro?ia Montana, in the so-called “golden quadrangle” of the Apuseni Mountains.
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