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AFCR's name change to Vast Resources to become effective tomorrow

Last updated: 17:09 30 Dec 2014 GMT, First published: 18:09 30 Dec 2014 GMT

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African Consolidated Resources (LON:AFCR) confirmed its name would become Vast Resources effective tomorrow (Dec 31).

It comes after all resolutions proposed at a general meeting were approved by shareholders.

Trading in the company's new shares, placing shares and subscription shares on AIM under the symbol VAST is expected to kick off on January 6, 2015.

On December 10, the firm said it had raised £1.59mln via a share placing which will help fund the development of opportunities in Romania.

Specifically, the AIM-listed explorer has the chance to acquire a 68% stake in Mineral Mining, which owns the Baita Bihor mine.

The property is estimated to contain 1.8mln tonnes of polymetallic ore containing gold, silver, copper, zinc, lead, tungsten and molybdenum.

Further updates regarding this proposed acquisition will be made as appropriate, the company said today.

Shares were unchanged at 0.75p.


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