Less Ads, More Data, More Tools Register for FREE

Pin to quick picksVast Res Regulatory News (VAST)

Share Price Information for Vast Res (VAST)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.0975
Bid: 0.095
Ask: 0.10
Change: -0.0075 (-7.14%)
Spread: 0.005 (5.263%)
Open: 0.105
High: 0.105
Low: 0.095
Prev. Close: 0.105

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Update on Debt Funding

8 May 2024 13:12

Update on Debt Funding

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

8 May 2024

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

Update on Debt Funding

Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022 and the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.

As announced on the 29 April 2024, US$1.5 million was due to be repaid on 7 May 2024. The Company is currently in discussions with Alpha and Mercuria regarding a further extension that will allow further time to finalise the restructuring finance for the Company with the owner of the Swiss investment company, as referenced in the 29 April announcement.

The Company will update the market with further details in due course.

**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.

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.

Date   Source Headline
7th Jan 20224:36 pmRNSPrice Monitoring Extension
29th Dec 20212:00 pmGNWResult of AGM
21st Dec 20217:00 amGNWAnnual General Meeting Attendance Pre-Registration
20th Dec 202110:00 amRNSResponse to articles published in Zimbabwe
15th Dec 20214:40 pmRNSSecond Price Monitoring Extn
15th Dec 20214:35 pmRNSPrice Monitoring Extension
8th Dec 20217:00 amGNWHolding(s) in Company
7th Dec 20217:00 amGNWBoard Update
30th Nov 20211:00 pmGNWNotice of Annual General Meeting & Online Investor Presentation
29th Nov 202111:05 amRNSSecond Price Monitoring Extn
29th Nov 202111:00 amRNSPrice Monitoring Extension
29th Nov 20217:00 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
25th Nov 20211:15 pmGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
24th Nov 202111:30 amGNWAtlas Special Opportunities LLC – Exercise of Conversion Rights
10th Nov 20217:00 amGNWBaita Plai Update
5th Nov 20217:00 amRNSQ & A
28th Oct 20213:45 pmGNWFinal Results
28th Oct 20219:05 amRNSSecond Price Monitoring Extn
28th Oct 20219:00 amRNSPrice Monitoring Extension
28th Oct 20217:00 amGNWPlacing to raise £1,350,000 before costs & Extension of Directors’ Lock up period
25th Oct 202110:30 amRNSCompany Update
23rd Aug 20217:01 amRNSDirector Appointment
23rd Aug 20217:00 amRNSAcquisition of Ghaghoo Diamond Mine
10th Aug 202111:00 amRNSDirector/PDMR Shareholding
10th Aug 20217:00 amRNSBaita Plai - Summary of Refurbishment Works
10th Aug 20217:00 amGNWPlacing and Subscription to raise £1,762,539.81 & Baita Plai Operational Update
10th Aug 20217:00 amGNWRestructure of Atlas Equity Linked Convertible Bond to an Extended Fixed Term Loan
7th Jul 20211:15 pmGNWDirector Share Purchase
6th Jul 20214:35 pmRNSPrice Monitoring Extension
6th Jul 202112:33 pmRNSAward of Rights Under SARS
28th Jun 20217:00 amGNWAppointment of Corporate Broker
18th Jun 20217:00 amGNWAppointment of Wardell Armstrong For Verification of Increased JORC Resource and high-level Confirmation of Existing JORC Report
9th Jun 202110:00 amRNSSuccessful Conclusion of CBA: Vast Baita Plai S.A
25th May 20217:00 amRNSBaita Plai Video: End to End Processing Chain
6th May 20218:00 amGNWNew Director Holdings
5th May 20211:00 pmGNWResult of General Meeting, Capital Reorganisation Total Voting Rights
4th May 20217:00 amRNSAppointment of Romanian Country Manager
30th Apr 20215:30 pmGNWTotal voting rights
27th Apr 202111:05 amRNSSecond Price Monitoring Extn
27th Apr 202111:00 amRNSPrice Monitoring Extension
27th Apr 20218:18 amRNSBaita Plai Update
23rd Apr 20217:00 amGNWIssue of Equity & Total Voting Rights
20th Apr 202112:15 pmGNWDirector Share Purchase
20th Apr 20217:00 amGNWLetter to shareholders relating to Proposed Capital Reorganisation & Notice of General Meeting
15th Apr 20212:00 pmRNSPrice Monitoring Extension
13th Apr 20217:00 amRNSAppointment of New Processing Manager - Baita Plai
8th Apr 20217:00 amRNSAppointment of Underground Mine Manager
30th Mar 20217:00 amGNWBaita Plai Revised Mine Plan & Investor Presentation
26th Mar 20214:41 pmRNSSecond Price Monitoring Extn
26th Mar 20214:36 pmRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.