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Pin to quick picksVast Res Regulatory News (VAST)

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Baita Plai Q4 2023 Production Report

7 Feb 2024 07:00

RNS Number : 2303C
Vast Resources PLC
07 February 2024

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining


?February 2024

Vast Resources plc

('Vast' or the 'Company')


Baita Plai Q4 2023 Production Report


Vast Resources plc, the AIM-listed mining company, is pleased to announce the Q4 2023 production report at its Baita Plai Polymetallic Mine ('Baita Plai') in Romania.


Production for the quarter is provided below with a comparison to previous quarters*.



Tonnes mined

Concentrate produced (DMT)

Cu concentrate grade

Q4 2023




Q3 2023




Q2 2023




Q1 2023




Q4 2022




*Investors should note the Company's decision, given several factors including the variation of shipping schedules, to simply report quarterly production going forward; sales and other operating information will be included in the Company's financial reports as usual going forward.


As expected, the average copper concentrate grade decreased during the quarter due to the area that was being mined. However, subsequent to the period end, the quality of concentrate has improved as the Company begins to access higher grade zones.


The Company has incorporated the results from its ongoing drilling programme that commenced in 2023 into its mine plan. This, together with the acceleration of the underground decline access ramp, is expected to substantially increase productivity through reduced underground haulage times and provide accelerated access to high grades at depth. As a result, the Company expects the overall grade of concentrate produced by the mine to increase and a reduction in grade variability.





For further information, visit or please contact:


Vast Resources plcAndrew Prelea (CEO) +44 (0) 20 7846 0974

Beaumont Cornish - Financial & Nominated Advisor

Roland Cornish

James Biddle

+44 (0) 20 7628 3396

Shore Capital Stockbrokers Limited - Joint Broker

Toby Gibbs / James Thomas (Corporate Advisory)  +44 (0) 20 7408 4050

Axis Capital Markets Limited - Joint Broker Richard Hutchinson  +44 (0) 20 3206 0320

St Brides Partners Limited

Susie Geliher / Zoe Briggs

+44 (0) 20 7236 1177






Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania, Tajikistan, and Zimbabwe.


In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.


The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA which owns 100% of the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.


The Company also owns the Manaila Polymetallic Mine in Romania, which the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.


Vast has an interest in a joint venture company which provides exposure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced. Vast has also been contractually appointed to manage and develop the Aprelevka Gold Mines located along the Tien Shan Belt that extends through Central Asia, currently producing approximately 11,600 oz of gold and 116,000 oz of silver per annum. It is the intention to increase production closer to historical peak production of 27,000 oz gold and 250,000 oz silver. Vast will be entitled to a 4.9% effective interest in the mines with the option to acquire equity in the future.


The Company retains a continued presence in Zimbabwe in respect of the Historic claims.



Beaumont Cornish Ltd


Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Date   Source Headline
4th Jul 20233:00 pmGNWCompany Update
3rd Jul 20237:00 amGNWCompany Update
26th Jun 20231:30 pmGNWResults of General Meeting
21st Jun 20239:56 amGNWDebt Extension Confirmation
16th Jun 20234:00 pmGNWHolding(s) in Company
16th Jun 20238:30 amGNWInstitutional Investor TR-1 Disclosure
9th Jun 20238:00 amGNWNotice of General Meeting
15th May 20237:00 amGNWCompany Update
4th May 20233:45 pmRNSTotal Voting Rights
24th Apr 20234:14 pmGNWAward of rights under the Company’s Share Appreciation Rights Scheme
20th Apr 20232:30 pmGNWMajor Institutional Shareholder TR-1 Disclosure
14th Apr 20237:00 amGNWMajor Institutional Shareholder TR-1 Disclosure
12th Apr 20237:05 amGNWPlacing to raise £978,967.40 and Baita Plai Update
12th Apr 20237:00 amGNWBaita Plai Q1 Production Report & Update, Tajikistan Update and Settlement Update
31st Mar 20237:00 amGNWUpdate on announcement of 6 February 2023
28th Mar 20234:35 pmRNSPrice Monitoring Extension
3rd Mar 20237:00 amGNWBoard Update
27th Feb 20237:00 amGNWReport on Technical Programme for Baita Plai Mine - Exploration Target for Mineral Resource upgrade and establishment of an Ore Reserve
6th Feb 202312:00 pmGNWSettlement Discussions Update
6th Feb 20237:00 amGNWPlacing to raise £2,382,500, Baita Plai Update and Director Dealing
3rd Feb 202311:20 amGNWHolding(s) in Company
3rd Feb 20239:00 amRNSPrice Monitoring Extension
2nd Feb 20234:40 pmRNSSecond Price Monitoring Extn
2nd Feb 20234:35 pmRNSPrice Monitoring Extension
2nd Feb 20239:00 amRNSPrice Monitoring Extension
2nd Feb 20237:00 amGNWSettlement Discussions Update
1st Feb 20234:40 pmRNSSecond Price Monitoring Extn
1st Feb 20234:35 pmRNSPrice Monitoring Extension
31st Jan 202310:15 amGNWInterim Results: 1 May 2022 – 31 October 2022
30th Jan 202311:05 amRNSSecond Price Monitoring Extn
30th Jan 202311:00 amRNSPrice Monitoring Extension
23rd Jan 20238:00 amGNWAIM Rule 11 Update
4th Jan 20237:00 amGNWQ4 2022 Baita Plai Production Report
16th Dec 20227:00 amGNWBaita Plai Update
1st Dec 20221:00 pmGNWResults of Annual General Meeting
15th Nov 20227:00 amGNWHolding(s) in Company
14th Nov 20227:00 amGNWBaita Plai Update
8th Nov 20227:00 amGNWNotice of Annual General Meeting
28th Oct 20224:40 pmRNSSecond Price Monitoring Extn
28th Oct 20224:35 pmRNSPrice Monitoring Extension
24th Oct 20222:40 pmGNWResult of General Meeting
21st Oct 20227:00 amGNWQ3 2022 Baita Plai Production Report
7th Oct 202212:00 pmGNWNotice of General Meeting
6th Oct 20227:00 amGNWNew Strategic Offtake Relationship in Tajikistan
26th Sep 20227:00 amGNWPlacing to raise £656,000 and Baita Plai Operational Update
22nd Aug 202211:05 amRNSSecond Price Monitoring Extn
22nd Aug 202211:00 amRNSPrice Monitoring Extension
15th Aug 20228:00 amGNWTakob Processing Project Update
1st Aug 202211:05 amRNSSecond Price Monitoring Extn
1st Aug 202211:00 amRNSPrice Monitoring Extension

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