Last checked at 9 Nov 2020 07:00
Notice to ShareholdersVast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
9 November 2020
Vast Resources plc(‘Vast’ or the ‘Company’)
Notice to Shareholders
Vast Resources plc, the AIM listed mining company, is pleased to announce a further update to shareholders following the notice of the General Meeting of the Company announced on 6 November 2020.
Further to this announcement regarding the proposed acquisition of the minority interests in its Romanian projects from AP Mining Group Limited (“the Transaction”), the Company announces that Andrew Prelea & Roy Tucker, being directors of the Company, have agreed with the Company to a lock up period of 12 months in relation to their individual share issuances of 1,500,001,930 & 225,005,790.which would follow shareholder approval of the Resolution at the General Meeting of the Company set down for 23 November 2020.
**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 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 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 licence 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.