Vast Resources PLC (LON:VAST) has raised £852,500 through a placing and subscription of just over 557mln new shares at a price of 0.153p.
Just over 300mln of the new shares were issued under existing authorities available to the board relating to the Baita Plai polymetallic mine in Romania, as granted at the recent general meeting and at the 2018 annual meeting, while 250mln were issued under existing authorities relating to exploration for and mining of diamonds in Zimbabwe.
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Accordingly, £470,000 less costs will be earmarked towards Baita Plai and for general corporate purposes and £382,500 less costs towards the company’s operations in the Marange diamond fields in Zimbabwe.