Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVast Res Regulatory News (VAST)

Share Price Information for Vast Res (VAST)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0975
Bid: 0.095
Ask: 0.10
Change: -0.005 (-4.76%)
Spread: 0.005 (5.263%)
Open: 0.105
High: 0.10
Low: 0.10
Prev. Close: 0.105

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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*.

 

Period

Tonnes mined

Concentrate produced (DMT)

Cu concentrate grade

Q4 2023

24,178

562

18%

Q3 2023

25,600

559

21%

Q2 2023

23,372

468

21%

Q1 2023

20,728

475

23%

Q4 2022

17,343

453

23%

*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.

 

 

**ENDS**

 

For further information, visit www.vastplc.com or please contact:

 

Vast Resources plcAndrew Prelea (CEO)

 

www.vastplc.com +44 (0) 20 7846 0974

Beaumont Cornish - Financial & Nominated Advisor

Roland Cornish

James Biddle

 

www.beaumontcornish.com

+44 (0) 20 7628 3396

Shore Capital Stockbrokers Limited - Joint Broker

Toby Gibbs / James Thomas (Corporate Advisory)

 

www.shorecapmarkets.co.uk  +44 (0) 20 7408 4050

Axis Capital Markets Limited - Joint Broker Richard Hutchinson

 

www.axcap247.com  +44 (0) 20 3206 0320

St Brides Partners Limited

Susie Geliher / Zoe Briggs

www.stbridespartners.co.uk

+44 (0) 20 7236 1177

 

 

 

ABOUT VAST RESOURCES PLC

 

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 rns@lseg.com or visit www.rns.com.RNS 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.
 
END
 
 
UPDFLFEEFDIRIIS
Date   Source Headline
7th Jan 20224:36 pmRNSPrice Monitoring Extension
29th Dec 20212:00 pmGNWResult of AGM
21st Dec 20217:00 amGNWAnnual General Meeting Attendance Pre-Registration
20th Dec 202110:00 amRNSResponse to articles published in Zimbabwe
15th Dec 20214:40 pmRNSSecond Price Monitoring Extn
15th Dec 20214:35 pmRNSPrice Monitoring Extension
8th Dec 20217:00 amGNWHolding(s) in Company
7th Dec 20217:00 amGNWBoard Update
30th Nov 20211:00 pmGNWNotice of Annual General Meeting & Online Investor Presentation
29th Nov 202111:05 amRNSSecond Price Monitoring Extn
29th Nov 202111:00 amRNSPrice Monitoring Extension
29th Nov 20217:00 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
25th Nov 20211:15 pmGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
24th Nov 202111:30 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
10th Nov 20217:00 amGNWBaita Plai Update
5th Nov 20217:00 amRNSQ & A
28th Oct 20213:45 pmGNWFinal Results
28th Oct 20219:05 amRNSSecond Price Monitoring Extn
28th Oct 20219:00 amRNSPrice Monitoring Extension
28th Oct 20217:00 amGNWPlacing to raise £1,350,000 before costs & Extension of Directors’ Lock up period
25th Oct 202110:30 amRNSCompany Update
23rd Aug 20217:01 amRNSDirector Appointment
23rd Aug 20217:00 amRNSAcquisition of Ghaghoo Diamond Mine
10th Aug 202111:00 amRNSDirector/PDMR Shareholding
10th Aug 20217:00 amRNSBaita Plai - Summary of Refurbishment Works
10th Aug 20217:00 amGNWPlacing and Subscription to raise £1,762,539.81 & Baita Plai Operational Update
10th Aug 20217:00 amGNWRestructure of Atlas Equity Linked Convertible Bond to an Extended Fixed Term Loan
7th Jul 20211:15 pmGNWDirector Share Purchase
6th Jul 20214:35 pmRNSPrice Monitoring Extension
6th Jul 202112:33 pmRNSAward of Rights Under SARS
28th Jun 20217:00 amGNWAppointment of Corporate Broker
18th Jun 20217:00 amGNWAppointment of Wardell Armstrong For Verification of Increased JORC Resource and high-level Confirmation of Existing JORC Report
9th Jun 202110:00 amRNSSuccessful Conclusion of CBA: Vast Baita Plai S.A
25th May 20217:00 amRNSBaita Plai Video: End to End Processing Chain
6th May 20218:00 amGNWNew Director Holdings
5th May 20211:00 pmGNWResult of General Meeting, Capital Reorganisation Total Voting Rights
4th May 20217:00 amRNSAppointment of Romanian Country Manager
30th Apr 20215:30 pmGNWTotal voting rights
27th Apr 202111:05 amRNSSecond Price Monitoring Extn
27th Apr 202111:00 amRNSPrice Monitoring Extension
27th Apr 20218:18 amRNSBaita Plai Update
23rd Apr 20217:00 amGNWIssue of Equity & Total Voting Rights
20th Apr 202112:15 pmGNWDirector Share Purchase
20th Apr 20217:00 amGNWLetter to shareholders relating to Proposed Capital Reorganisation & Notice of General Meeting
15th Apr 20212:00 pmRNSPrice Monitoring Extension
13th Apr 20217:00 amRNSAppointment of New Processing Manager - Baita Plai
8th Apr 20217:00 amRNSAppointment of Underground Mine Manager
30th Mar 20217:00 amGNWBaita Plai Revised Mine Plan & Investor Presentation
26th Mar 20214:41 pmRNSSecond Price Monitoring Extn
26th Mar 20214:36 pmRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.