The chairman of Vast Resources PLC (LON:VAST), industry veteran Brian Moritz, has written to shareholders urging them to vote in favour of AGM resolutions that allow for new capital raising powers.
The AGM will be held on 31 January 2019 in London.
WATCH: Vast Resources asking for shareholder support to back debt funding plans
Vast is seeking the authority to raise the capital to allow it to fund development of diamond mining in the Marange diamond fields in Zimbabwe, to allow it headroom in resect of a US$3.15mln loan from Bergen Global Opportunities Fund, and to allow commencement of mining at the Baita Plai polymetallic mine in Romania.
New funds would also go towards general working capital.