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Pin to quick picksVast Res Regulatory News (VAST)

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Baita Plai Update

28 Sep 2023 12:37

Baita Plai Update

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

28 September 2023

Vast Resources plc(‘Vast’ or the ‘Company’)

Baita Plai Update

Vast Resources plc, the AIM-listed mining company, is pleased to announce an update on the recent situation at its Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania.

Further to the announcement made on 22 September 2023 regarding the strike action, the Company is pleased to announce that the protest has ended and operations continue as normal at Baita Plai.


Vast Resources plcAndrew Prelea (CEO)Andrew Hall (CCO)www.vastplc.com+44 (0) 20 7846 0974
Beaumont Cornish – Financial & Nominated AdvisorRoland CornishJames Biddlewww.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 LimitedSusie Geliherwww.stbridespartners.co.uk+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. Processing of stockpiled ore on site is expected to commence in mid-2022.

In Zimbabwe, the Company is preparing for the release of its diamonds previously mined by the Company and preparing for their marketing. Upon the finalisation of the process the Company will recommence its focus on the finalisation of the mining agreement on the Community Diamond Concession in the Marange Diamond Fields.

Date   Source Headline
22nd Feb 20197:00 amGNWTermination of Convertible Securities Issuance Deed
15th Feb 20199:05 amRNSSecond Price Monitoring Extn
15th Feb 20199:00 amRNSPrice Monitoring Extension
14th Feb 20192:15 pmGNWHeritage Concession – Marange Diamond Fields: Grant of Right to Mine
13th Feb 20192:12 pmGNWPlacing and Subscription to raise £896,000 before costs
12th Feb 20191:12 pmGNWFinancing Update
8th Feb 20197:00 amRNSAppointment of Chief Financial Officer
4th Feb 20194:06 pmGNWHolding(s) in Company
4th Feb 20194:00 pmGNWIssue and Allotment of Ordinary Shares following Exercise of Conversion Rights
31st Jan 20195:02 pmGNWResult of Meeting
29th Jan 201911:15 amGNWNew Corporate Presentation
29th Jan 201910:15 amGNWShareholder Q&A Document
22nd Jan 20191:30 pmGNWBlueberry Project Drilling Results
21st Jan 20197:00 amGNWUpdate on securing off take Pre-Payment Finance
18th Jan 20194:40 pmRNSSecond Price Monitoring Extn
18th Jan 20194:35 pmRNSPrice Monitoring Extension
18th Jan 20193:05 pmGNWIssue and Allotment of Ordinary Shares following Exercise of Conversion Rights
18th Jan 20192:15 pmGNWUSD5.5 million Tranche B Mercuria Facility
17th Jan 201912:30 pmGNWUpdate on USD5.5 million Tranche B Mercuria facility
16th Jan 20197:00 amGNWCorrection to Share Capital
15th Jan 20197:00 amGNWLetter to Shareholders and Notice of General Meeting
8th Jan 20193:30 pmGNWExercise of Warrants and Issue of Equity
3rd Jan 20199:54 amGNWDirector Share Purchase
24th Dec 20189:30 amGNWInterim Results
21st Dec 20185:30 pmGNWIssue of Convertible Security
20th Dec 20187:00 amGNWUSD3,000,000 Bridge Facility
14th Dec 20183:30 pmGNWMarange Diamond Field exploration: Status
7th Dec 20185:25 pmGNWExercise of Warrants, Issue of Equity and Total Voting Rights
5th Dec 20183:20 pmGNWIssue of Equity & Total Voting Rights
30th Nov 20187:00 amGNWQuarterly Production Summary
19th Nov 20187:00 amGNWCommencement of Drilling at Magura Neagra and Piciorul Zimbrului
14th Nov 201812:30 pmRNSZimbabwean Site Visit
2nd Nov 201811:30 amGNWPlacing to raise £1,000,000 before costs
30th Oct 20183:15 pmGNWUSD1 million Funding Secured for Blueberry Project
22nd Oct 20184:15 pmGNWResult of AGM
22nd Oct 201811:00 amRNSVast Resources wins "Best Mining Development"
18th Oct 201812:30 pmRNSPlacing and Subscription
17th Oct 20187:00 amRNSInitial assessment of the T1A Marange concession
17th Oct 20187:00 amRNSProgress Update on Marange Diamond Field JV
16th Oct 20184:15 pmGNWExercise of Warrants and Issue of Equity
16th Oct 20187:00 amGNWContract of Association Signed with Baita Sa and Association Licence Granted
11th Oct 20183:30 pmRNSBlueberry Project Drilling Results
10th Oct 20184:40 pmRNSSecond Price Monitoring Extn
10th Oct 20184:35 pmRNSPrice Monitoring Extension
28th Sep 20181:30 pmGNWNotice of AGM and Posting of Annual Report
28th Sep 20187:00 amGNWFinal Results
29th Aug 20189:00 amRNSSubscription to raise GBP863,750
24th Aug 201812:30 pmRNSBlueberry Project Drilling Results
6th Jul 20187:00 amRNSDiamond Specialist Joins Board of Subsidiary
3rd Jul 20188:00 amRNSInvestor Presentation Evening

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