Vast Resources PLC (LON:VAST) revealed gold and silver test production has commenced ahead of schedule at its Manaila polymetallic mine in Romania.
The company said initial commissioning of the Knelson Concentrator to extract the free gold and silver commenced today.
Vast is targeting a steady state production of 30 tonnes per month of concentrate from May 2017 onward at a grade of 80 grams per tonne (g/t) gold and 114 g/t silver, which equates to an expected monthly production target of 75 ounces of gold equivalent.
WATCH: Manaila production profile "continues to improve', says Vast Resources boss
"The production profile of our Manaila mine continues to improve as we target higher tonnages, higher grade copper and zinc concentrates and now a third revenue stream in the form of a gold/silver concentrate,” said Roy Pitchford.
“Commercial production of this concentrate will directly enhance Manaila's financial performance and I look forward to presenting our next quarterly production report with this in mind," he added.
The news should provide a bit of cheer after yesterday's trading update, which revealed that the company's operations in both Romania and Zimbabwe had been hit by severe weather conditions in the first quarter.
Shares in Vast Resources were up 6.1% at 0.488p in afternoon trading.