Vast Resources Regulatory News (VAST)

3 Jan 2019 09:54

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

3 January 2019

Vast Resources plc(“Vast” or the “Company”)

Director Share Purchase

Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, announces that yesterday it was notified that on 2 January 2019, Mr. Andrew Prelea, Chief Executive Director of the Company, purchased 5,000,000 ordinary shares of 0.1 pence each in the share capital of the Company (“Ordinary Shares”) at a price of 0.2835 pence per Ordinary Share.

Following this purchase, Mr. Prelea’s total beneficial ownership in the Company is 31,772,069 Ordinary Shares, which represents approximately 0.55% of the Company's issued share capital.

Market Abuse Regulation (MAR) DisclosureCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail on the directors' dealing in the Ordinary Shares.

**ENDS**

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

Notes Vast Resources plc is an AIM listed mining and resource development company focussed on the rapid advancement of high-quality brownfield projects and recommencing production at previously producing mines in Romania and Zimbabwe.

Vast Resources currently owns and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. The Company’s Romanian portfolio also includes interests in two brownfield development projects; the Baita Plai Polymetallic Mine (80% interest), which has a reported 1,800,000-tonne copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area; and the Blueberry Project (29.41% interest), a 7.285km² brownfield area of prospectivity in the Golden Quadrilateral of Romania located in the immediate vicinity of the now closed Baia de Aries mine.

The Company also has interests in a number of projects in Zimbabwe including a controlling 25 per cent. interest in the producing Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka Gold Mine, and an 86.67% interest in a SPV which has a due diligence access agreement and pre-agreed joint venture terms on a diamond concession within the Marange Diamond Fields, widely considered to be one of the richest sources of alluvial diamonds globally. 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Andrew Prelea

2.

Reason for the notification

a)

Position/status:

Chief Executive Officer

b)

Initial notification/Amendment:

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Vast Resources Plc

b)

LEI:

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Ordinary shares of £0.1 each

b)

Nature of the transaction:

Purchase of ordinary shares

c)

Price(s) and volume(s):

d)

Aggregated information:

Aggregated volume:

Price:

e)

Date of the transaction:

02-01-2019

f)

Place of the transaction:

AIM, London Stock Exchange