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Update

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

22 October 2019

Vast Resources plc
(“Vast” or the “Company”)

Update

Vast Resources plc, the AIM-listed mining company, notes that both the agreement on the Chiadzwa Community diamond project with Katanga Mining (Pvt) Ltd, ZCDC and the expected finance facility for US$13,500,000 (net) were not signed last week as anticipated.

The delay in signing the diamond agreement is purely a matter of availability due to international travel commitments of the relevant stakeholders.  Discussions in line with previous expectations, save on timing, continue with both parties and the Company looks forward to updating the market as and when there is anything further to report.

**ENDS**

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

Vast Resources plc
Andrew Prelea (Chief Executive Officer)
Andrew Hall

 

 
www.vastplc.com
+44 (0) 1491 615 232
Beaumont Cornish - Financial & Nominated Adviser 
Roland Cornish 
James Biddle

 
www.beaumontcornish.com
+44 (0) 020 7628 3396
SP Angel Corporate Finance LLP – Broker
Richard Morrison
Caroline Rowe

 
www.spangel.co.uk
 +44 (0) 20 3470 0470

Blytheweigh
Tim Blythe
Megan Ray

 
www.blytheweigh.com 
+44 (0) 20 7138 3204

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”).

ABOUT VAST RESOURCES PLC

Vast Resources plc, is an AIM listed mining company with mines in Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and commencement of the joint venture mining agreement on the Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.

The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards developing and recommissioning the mine on completion of funding and the commencement of the of the Community Concession Block in Chiadzwa, Zimbabwe

Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance, and is focused on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. 

Attachment

Quick facts: Vast Resources PLC

Price: 0.395

Market: AIM
Market Cap: £40.5 m
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