Vast Resources Regulatory News (VAST)

2 Jul 2007 11:58

African Consolidated Resources Plc02 July 2007 African Consolidated Resources Plc Following the Report from the Chief Executive in the Preliminary Results for theyear ended 28 February 2007, African Consolidated Resources plc. an AIM listedexploration company, wishes to announce further developments. We continue our dialogue with relevant parties with a view to the possibility ofagreeing a joint venture on the ownership and operations of the Marange deposit,prior to the hearing in the Zimbabwe High Court of our civil action in order torecover the deposit. It is the Board's expectation that, in the event that wewere successful in securing an agreement that was satisfactory to us, Marangewould be fast tracked into production. In the light of this the Company hasreached a non binding understanding with a diamond plant operator who has builtplant that would be appropriate for initial operations at Marange and would beavailable for our use in a short time span. 2 July 2007 Enquiries: African Consolidated Resources PlcAndrew Cranswick +44 7920 189010Roy Tucker +44 1622 816918 +44 7920 189012 Evolution Securities Simon Edwards/Lloyd Thomas +44 7071 4300 This information is provided by RNS The company news service from the London Stock Exchange