Last checked at 22 Oct 2020 07:00
Confirmation of Copper Concentrate Production at Baita PlaiVast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
22 October 2020
Vast Resources plc(“Vast” or the “Company”)
Confirmation of Copper Concentrate Production at Baita Plai
Vast Resources plc, the AIM-listed mining company, is pleased to confirm that following the announcement of 7 October 2020 the flotation plant is now fully operational and producing concentrate. The Company also wishes to update the market that it is on track to surpass its initial copper sales delivery target included in the project production and associated operational cashflow forecasts announced on 7 September 2020 and expects to complete the initial production of copper concentrate by the end of October 2020, and deliver between 350-400 tonnes of copper concentrate to Mercuria as soon as possible thereafter.
The Company looks forward to updating the market upon successful completion of this concentrate sale to Mercuria.
**ENDS**
For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:
| Vast Resources plc Andrew Prelea - CEOAndrew Hall | www.vastplc.com +44 (0) 20 7846 0974 | |
| Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 020 7628 3396 | |
| SP Angel Corporate Finance LLP – Joint Broker Richard Morrison Caroline Rowe | www.spangel.co.uk +44 (0) 20 3470 0470 | |
| Axis Capital Markets Limited – Joint Broker Richard Hutchison | www.axcap247.com +44 (0) 20 3206 0320 | |
| St Brides Partners Limted Susie Geliher Charlotte Page | www.stbridespartners.co.uk +44 (0) 20 7236 1177 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).
ABOUT VAST RESOURCES PLC
Vast Resources plc, is a United Kingdom AIM listed mining company with mines and projects in Romania 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 an 80% interest in the Baita Plai Polymetallic Mine. Baita Plai is located in the Apuseni Mountains, Transylvania, an area which hosts Romania’s largest polymetallic mines. Work is now currently underway towards first concentrate production as well as efforts in place to establish a maiden Resource under the JORC code.
The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba license area.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.