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29 Feb 2024 12:32


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

29 February 2024

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

Results of General Meeting, Capital Reorganisation& Total Voting Rights

Vast Resources plc, the AIM-listed mining company, announces that at the Company’s General Meeting held earlier today, all resolutions were passed and as such, the capital reorganisation set out in the Notice of General meeting will be completed. The proxy results for the resolutions are set out below:

Resolution 1: 84.10% in favourResolution 2: 86.15% in favourResolution 3: 85.89% in favour

Application has been made for the 928,607,357 new ordinary shares (‘New Ordinary Shares’) to be admitted to trading on AIM (‘Admission’). It is expected that Admission will become effective and dealing will commence in respect of the New Ordinary Shares on 1 March 2024. The ISIN Code for the New Ordinary Shares will be GB00BQ7WTT20 and the SEDOL will be BQ7WTT2.

Total Voting Rights

As result of the passing of the Resolutions, and as announced on 14 February 2024, the number of ordinary shares in issue has been reduced by a factor of six and as from Admission will stand at 928,607,357 ordinary shares of 0.1p each. This figure may then be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in Vast under the FCA’s Disclosure and Transparency Rules.

Market Abuse Regulation (MAR) Disclosure

Certain 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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”) until the release of this announcement.


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 Hutchinsonwww.axcap247.com +44 (0) 20 3206 0320
St Brides Partners LimitedSusie Geliherwww.stbridespartners.co.uk+44 (0) 20 7236 1177


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 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. Vast has also been contractually appointed to manage and develop the Aprelevka Gold Mines located along the Tien Shan Belt that extends through Central Asia, currently producing approximately 11,600 oz of gold and 116,000 oz of silver per annum. It is the intention to increase production closer to historical peak production of 27,000 oz gold and 250,000 oz silver. Vast will be entitled to a 4.9% effective interest in the mines with the option to acquire equity in the future.

The Company retains a continued presence in Zimbabwe in respect of the Historic claims.

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

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