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Pin to quick picksVast Res Regulatory News (VAST)

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Company Update

7 Aug 2023 07:00

Company Update

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

7 August 2023

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

Company Update

Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022, the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.

As announced on the 16 May 2022, the totality of the debt owed to Mercuria and Alpha was due to be repaid on or before 30 June 2023. The Company is currently concluding documentation regarding an extension to 29 September 2023 that will allow further time to finalise the settlement of its historic claims outlined in previous announcements.

The Company will update the market with further details in due course.

**ENDS**

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

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.

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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