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Vast Resources extends deadline for offtake deal with Mercuria

Discussions are also underway with Sub-Sahara Goldia Investments (SSGI) over a two-week extension to its bridging loan
copper
Copper wire being produced

Vast Resources PLC (LON:VAST) has given Mercuria Energy Group another two weeks to finalise its pre-payment offtake.

Vast has received written confirmation from Sub-Sahara Goldia Investments (SSGI) over a similar extension to the repayment date of a US$1.68mln bridging loan that had been due for repayment today (March 9). The bridging loan is due to be repaid on or before March 21.

READ: Vast Resources adds chief executive and chief operating officer to board of directors

Andrew Prelea, the chief executive, said: "We have spent considerable time and resources with the team at Mercuria and we welcome their rigorous diligence and procedures.

“Whilst acknowledging this modest delay, we appreciate and are more than happy to spend the time to complete the transaction to their satisfaction.” 

Offtake offer is for 100% of the copper and zinc concentrate produced at the Manaila polymetallic mine and Baita Plai polymetallic mine.

 

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