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Pin to quick picksVast Resources Regulatory News (VAST)

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Corporate Update

10 Oct 2024 07:00

Corporate Update

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

10 October 2024

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

Corporate Update

Vast Resources plc, the AIM-listed mining company, wishes to announce with respect to its announcement released on 23 September 2024, that the Attorney-General’s Office has approved the terms of a settlement agreement relating to the Historic Claim and has recommended this to the relevant Governmental Institution for signature in order to resolve this longstanding matter. Accordingly, the fully executed settlement agreement is currently awaited to enable the Company to complete the process of recovery. Shareholders will be advised of further developments, but Shareholders are also reminded that whilst the Board remains confident, there can be no guarantee of a successful outcome.

**ENDS**

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

Vast Resources plcAndrew Prelea (CEO)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.

The Company retains a continued presence in Zimbabwe.

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.

Also in Tajikistan, Vast has been contracted to develop and manage the Aprelevka gold mines on behalf of its owner Gulf International Minerals Ltd (“Gulf”) under which Vast is entitled, inter alia, to 10% of the earnings that Gulf receives from its 49% interest in Aprelevka in joint venture with the government of Tajikistan. Aprelevka holds four active operational mining licences located along the Tien Shan Belt that extends through Central Asia, currently producing approximately 11,600oz of gold and 116,000 oz of silver per annum. It is the intention of the Company to assist in increasing Aprelevka’s production from these four mines closer to the historical peak production rates of approximately 27,000oz of gold and 250,000oz of silver per year from the operational mines.

Nominated Adviser Beaumont Cornish Limited (“Beaumont Cornish”) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

Date   Source Headline
7th Nov 20247:00 amGNWIssue of Shares in Lieu of Fees
31st Oct 20247:00 amGNWFinal Results
30th Oct 20247:00 amGNWFormer Hanes Gold Mine Update
21st Oct 20247:00 amGNWQ2 2024 Production update and Operational updates
14th Oct 20247:00 amGNWPlacing to raise £750,000
10th Oct 20247:00 amGNWCorporate Update
7th Oct 20247:00 amGNWFunding Update
27th Sep 20247:00 amGNWHolding(s) in Company
24th Sep 20247:00 amGNWFinancing Update – Important clarification
23rd Sep 20247:00 amGNWFinancing Update
11th Sep 20247:00 amGNWEcologic Processing Association Agreement signed in connection with former Hanes Gold Mine, Romania & Operational Updates
10th Sep 20242:30 pmGNWHolding(s) in Company
3rd Sep 20242:45 pmGNWHolding(s) in Company
13th Aug 202412:00 pmGNWBaita Plai Association Licence Update
17th Jul 202410:04 amRNSHolding(s) in Company
15th Jul 20247:00 amRNSPlacing to Raise £600,000, Issue of Equity & TVR
27th Jun 20248:00 amGNWUpdate regarding Debt Funding from A & T Investments SARL
11th Jun 20247:00 amGNWTajikistan – Aprelevka Update
10th Jun 20241:36 pmGNWBaita Plai Update
4th Jun 20247:00 amGNWBaita Plai Q1 2024 Production Report and Aprelevka production update
22nd May 202412:00 pmRNSHolding(s) in Company
20th May 20247:00 amGNWHolding(s) in Company
15th May 20247:07 amRNSPlacing & Update on Refinancing
8th May 20241:12 pmGNWUpdate on Debt Funding
29th Apr 20247:00 amGNWUpdate on Funding and on Repayment of Asset Based Debt Facility & General Corporate Update
2nd Apr 202412:23 pmRNSHolding(s) in Company
13th Mar 20247:00 amGNWNew Copper Offtake Secured with Trafigura for Baita Plai
29th Feb 202412:32 pmGNWMiscellaneous
20th Feb 20247:00 amGNWHoldings in Company
14th Feb 20247:00 amRNSNotice of GM
7th Feb 20247:00 amRNSBaita Plai Q4 2023 Production Report
31st Jan 20247:00 amGNWInterim Results: 1 May 2023 – 31 October 2023
26th Jan 20242:30 pmGNWHolding(s) in Company
25th Jan 20242:00 pmGNWHolding(s) in Company
23rd Jan 20247:00 amGNWPlacing to raise £1,255,625
22nd Jan 20247:00 amGNWPlatinum Group Metals (PGM) Agreement
16th Jan 202410:05 amRNSCompletion of transaction regarding Aprelevka
15th Jan 20241:30 pmGNWUpdate on Debt Funding
7th Dec 202312:30 pmGNWMOU regarding Aprelevka Gold Mines
4th Dec 202312:00 pmGNWUpdate on Debt Funding
29th Nov 20233:30 pmGNWResults of AGM
28th Nov 20233:00 pmGNWDeath of Director
13th Nov 20238:00 amRNSHolding(s) in Company
6th Nov 202311:00 amGNWNotice of AGM
6th Nov 20237:00 amGNWUpdate on Debt Funding
31st Oct 20237:00 amGNWBaita Plai Q3 2023 Production Report
31st Oct 20237:00 amGNWFinal Results
23rd Oct 20233:47 pmRNSHolding(s) in Company
19th Oct 20237:00 amRNSTajikistan Update
6th Oct 20237:00 amGNWPlacing to raise £1,819,350 and Company Update

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