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Mining

Vast Resources sees sharp rise in metals prices

Manaila, in Romania, now also has a zinc concentrate line in addition to copper concentrate.

Miner Vast Resources PLC (LON:VAST) saw a 19% jump in the price achieved for its copper concentrate in the last quarter, managing director Roy Pitchford said.

Concentrate prices rose to US$1,003 per tonne on average over the three months with sales prices rising steadily from US$896 in July to US$1,248 in September.

Manaila, in Romania, now also has a zinc concentrate line in addition to copper concentrate.

Production over the quarter amounted to 616 tonnes (June 2016: 727 tonnes), with the dip put down to temporary lower grade as a consequence of flooding and on-going test work to produce a separate zinc concentrate.

Drilling at another Romanian prospect the Faneata tailings dam is ahead of schedule and a maiden JORC compliant resource estimate is now expected in the first quarter of 2017.

Work is also ongoing with the Romanian authorities over a licence at Baita Plai, 7km up the road from Faneata.

"The continued improvement at Pickstone-Peerless and Manaila is encouraging,” Pitchford added.

Pickstone-Peerless, Vast’s gold mine in Zimbabwe, saw an 8% increase in production to 4,910oz (June 2016: 4,542oz).

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