Update on USD5.5 million Tranche B Mercuria facility

17 Jan 2019 12:30

Update on USD5.5 million Tranche B Mercuria facility

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

17 January 2019

Vast Resources plc

(“Vast” or the “Company”)

Update on US$5.5 million Tranche B Mercuria facility

Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, announces that the US$5.5 million Tranche B Mercuria facility will not be received by today, being the last day of the 30 day period in which Bergen Global Opportunities Fund LP is not able to exercise its conversion rights in respect of the US$1.575 million Convertible Security issued to it pursuant to the US$3 million Bridge Facility announced on 20 December 2018.

The Company continues to expect receipt of the Tranche B Mercuria facility.

**ENDS**

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

Vast Resources plc Andrew Prelea (Chief Executive Officer)	www.vastresourcesplc.com+44 (0) 20 7236 1177
Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle	www.beaumontcornish.com +44 (0) 020 7628 3396
Brandon Hill Capital Ltd – Joint BrokerJonathan Evans	www.brandonhillcapital.com+44 (0) 20 3463 5016
SVS Securities Plc – Joint Broker Tom CurranBen Tadd	www.svssecurities.com +44 (0) 20 3700 0100
St Brides Partners Ltd Susie Geliher Juliet Earl	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”).

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.