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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.

**ENDS**

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

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. 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
1st Aug 20227:00 amGNWBaita Plai Operational Update
28th Jul 20227:00 amGNWTakob Processing Project Update
25th Jul 20224:41 pmRNSSecond Price Monitoring Extn
25th Jul 20224:36 pmRNSPrice Monitoring Extension
25th Jul 20227:00 amGNWQ2 2022 Baita Plai Production Report
18th Jul 20224:40 pmRNSSecond Price Monitoring Extn
18th Jul 20224:35 pmRNSPrice Monitoring Extension
18th Jul 20222:06 pmRNSSecond Price Monitoring Extn
18th Jul 20222:00 pmRNSPrice Monitoring Extension
4th Jul 20222:44 pmGNWTotal Voting Rights
30th Jun 20227:00 amGNWTakob Projects Update
27th Jun 20227:00 amGNWSecond Milling Circuit Completed at Baita Plai Polymetallic Mine
23rd Jun 20227:01 amGNWHolding(s) in Company
16th Jun 20227:00 amGNWHolding(s) in Company
16th Jun 20227:00 amGNWHolding(s) in Company
14th Jun 20222:55 pmGNWHolding(s) in Company
13th Jun 20228:00 amGNWSecond Mantis Jumbo Drill Rig on-site at Baita Plai
13th Jun 20227:00 amRNSPresentation and Q&A Session
10th Jun 20222:30 pmGNWResult of General Meeting, Admission Details & Total Voting Rights
10th Jun 20227:00 amGNWHolding(s) in Company
31st May 20227:00 amRNSInvestor Update and Q&A Session
26th May 20228:00 amGNWSuccessful Underground Drill Testing of Mantis CMR4 Production Rig
26th May 20227:00 amGNWNotice of General Meeting
26th May 20227:00 amGNWCorrection of Admission Date
24th May 202212:33 pmGNWUpdate regarding Atlas Special Opportunities LLC
24th May 20227:01 amGNWCompany Update – Tajikistan
24th May 20227:00 amGNWUpdate regarding Atlas Special Opportunities LLC
23rd May 20224:40 pmRNSSecond Price Monitoring Extn
23rd May 20224:35 pmRNSPrice Monitoring Extension
20th May 20221:00 pmGNWUpdate regarding date for General Meeting
18th May 20224:41 pmRNSSecond Price Monitoring Extn
18th May 20224:36 pmRNSPrice Monitoring Extension
18th May 202211:05 amRNSSecond Price Monitoring Extn
18th May 202211:00 amRNSPrice Monitoring Extension
18th May 20227:13 amGNWAtlas Special Opportunities LLC
17th May 202211:05 amRNSSecond Price Monitoring Extn
17th May 202211:00 amRNSPrice Monitoring Extension
17th May 20227:01 amGNWDelisting of Convertible Bonds from The International Stock Exchange
16th May 20224:40 pmRNSSecond Price Monitoring Extn
16th May 20224:35 pmRNSPrice Monitoring Extension
16th May 20222:38 pmRNSDelisting of Convertible Bonds from TISE
16th May 202211:35 amGNWAtlas Special Opportunities LLC
16th May 20229:35 amRNSRepayment of Atlas Special Opportunities Completed
13th May 20229:05 amRNSSecond Price Monitoring Extn
13th May 20229:00 amRNSPrice Monitoring Extension
13th May 20227:00 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights & Total Voting Rights
12th May 20224:42 pmRNSSecond Price Monitoring Extn
12th May 20224:36 pmRNSPrice Monitoring Extension
10th May 20229:30 amGNWTotal Voting Rights
6th May 20224:40 pmRNSSecond Price Monitoring Extn

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