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: -0.0075 (-7.14%)
Spread: 0.005 (5.263%)
Open: 0.105
High: 0.105
Low: 0.095
Prev. Close: 0.105

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Company Update

3 Jul 2023 07:00

Company Update

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

3 July 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 15 May 2023, the totality of the debt owed to Mercuria and Alpha (currently approx. $8.4m) was due to be repaid on or before Friday 30 June 2023. 

The Company is in discussions with Mercuria and Alpha about a further extension in view of the anticipated settlement of the historic claims.

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 a share of revenue generated 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 equivalent over all sales of non-ferrous concentrate and any other metals produced.

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
26th Mar 20212:06 pmRNSSecond Price Monitoring Extn
26th Mar 20212:00 pmRNSPrice Monitoring Extension
26th Mar 202111:05 amRNSSecond Price Monitoring Extn
26th Mar 202111:00 amRNSPrice Monitoring Extension
17th Mar 202110:00 amRNSMine Plan Development Update
1st Mar 202111:15 amGNWTotal Voting Rights
26th Feb 20214:40 pmRNSSecond Price Monitoring Extn
26th Feb 20214:35 pmRNSPrice Monitoring Extension
26th Feb 20212:05 pmRNSSecond Price Monitoring Extn
26th Feb 20212:00 pmRNSPrice Monitoring Extension
26th Feb 20211:15 pmGNWBaita Plai Update & Revision of Mining Plan
27th Jan 202111:00 amGNWInterim Results
26th Jan 20213:54 pmGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
22nd Jan 20217:00 amRNSAppointment of New General Manager at Baita Plai
7th Jan 20212:45 pmGNWExercise of Warrants and Issue of Equity
7th Jan 20212:06 pmRNSSecond Price Monitoring Extn
7th Jan 20212:01 pmRNSPrice Monitoring Extension
7th Jan 202112:30 pmGNWUpdate on Asset Backed Debt Facility & Corporate Update
24th Dec 202012:00 pmGNWExercise of Warrants and Issue of Equity
16th Dec 20207:00 amGNWUpdate on Asset Backed Debt Facility
11th Dec 20209:47 amGNWDirector Share Purchase
10th Dec 20207:00 amGNWUpdate on sales of Baita Plai concentrate
9th Dec 20209:05 amRNSSecond Price Monitoring Extn
9th Dec 20209:00 amRNSPrice Monitoring Extension
9th Dec 20207:00 amGNWUpdate on asset backed debt finance and Placing to raise £4.8 million before costs
30th Nov 20204:15 pmGNWResult of Annual General Meeting
30th Nov 20203:59 pmGNWTotal Voting Rights
30th Nov 202012:00 pmGNWProgress on asset backed debt finance
26th Nov 202012:30 pmGNWAward of rights under the Company’s Share Appreciation Rights Scheme
26th Nov 20207:00 amGNWFirst commercial sale of Baita Plai concentrate completed
24th Nov 20207:00 amGNWHolding(s) in Company
24th Nov 20207:00 amGNWHolding(s) in Company
23rd Nov 20204:40 pmGNWResult of General Meeting and Acquisition of remaining 20% in Baita Plai Polymetallic Mine
23rd Nov 20207:00 amGNWFirst commercial sale of concentrate confirmed at Baita Plai
13th Nov 202011:45 amGNWUpdate on first sale of concentrate at Baita Plai
13th Nov 20207:00 amGNWIncreased Exploration Target at Baita Plai
10th Nov 202012:32 pmGNWAtlas Special Opportunities LLC Non-Conversion Agreement
9th Nov 20207:00 amGNWNotice to Shareholders
6th Nov 20206:27 pmGNWLetter to Shareholders and Notice of GM
6th Nov 20206:24 pmGNWNotice of AGM
30th Oct 20206:06 pmRNSTotal Voting Rights
29th Oct 202012:30 pmGNWBaita Plai JORC Resource & Reserve Report
29th Oct 20207:00 amGNWFinal Results
26th Oct 20202:00 pmGNWManaila Polymetallic Mine Update
26th Oct 20207:00 amGNWProgress on asset backed debt financing, placing to raise £1,751,200 & Baita Plai update
22nd Oct 20207:00 amGNWConfirmation of Copper Concentrate Production at Baita Plai
12th Oct 20207:00 amGNWProgress on asset backed debt financing
7th Oct 20207:00 amGNWBaita Plai Recommences Production
6th Oct 20208:00 amGNWAtlas Special Opportunities LLC
22nd Sep 202011:00 amGNWZimbabwe Operations Update

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.