Vast Resources PLC (LON:VAST) believes it is nearing an important administrative milestone in Romania.
In a stock market statement, Vast told investors that the company’s 80% owned AFCR subsidiary, alongside its state-backed partner, has now submitted a joint formal application to Romania’s National Agency for Mineral Resources for an association licence.
WATCH: Vast Resources 'nearing the finishing line' with Baita Plai licence
It would, upon award, formally grant AFCR the right to mine at Baita Plai.
“The joint application to ANRM is the final stage in what has been a protracted legal and administrative process and the company has reason to believe that the actual grant of the association licence will follow shortly,” Vast said.