Vast Resources PLC (LON:VAST) has revealed significant operational improvements in a quarterly production summary for the period to 31 December 2016.
In spite of severe weather in Romania, the company’s Manaila mine increased production of copper concentrate by 44% to 889 tonnes at an average grade of 19.5%. Production in zinc concentrate increased by 371% to 165 tonnes, at an average of 30% zinc.
Realised prices for both metals also improved, while costs per tonne of concentrate produced fell by 40%.
WATCH: Vast CEO on Romania, Zimbabwe ...
There was also progress at Baita Plai, where the commissioning of Vast’s third mine is planned, and at the nearby Feneata tailings project, which will be the subject of a feasibility study in the second half of the year.
Meanwhile, over at Pickstone-Peerless in Zimbabwe, Vast booked a decrease in operating costs to US$619 per ounce, down from US$686 in the previous quarter. However, gold production fell to 4,356 ounces, as heavy rainfall restricted mining operations.
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