logo-loader
viewVast Resources PLC

Vast Resources expecting Chiadzwa diamond deal to be signed next week

The mining group owns diamond, copper, silver, and lead assets in Zimbabwe and Romania

Vast Resources PLC -

Vast Resources PLC (LON:VAST) expects to sign its joint venture agreement next week with Zimbabwe’s government-owned diamond company, news that boosted its share price by 20% on Friday.

The Chiadzwa Community Diamond Project is a joint venture between Vast’s subsidiary Katanga Mining and state-owned Zimbabwe Consolidated Diamond Company (ZCDC) to mine the Heritage concession in the Marange Diamond Fields.

READ: Alba Minerals Resources looks to Welsh gold and English oil as it prioritises shortest routes to success

Zimbabwe’s mining minister Winston Chitando verbally confirmed the deal on Friday morning, an announcement that was later acknowledged by Vast.

Two weeks ago the miner raised £1.8mln through the subscription of 902mln shares at a price of 0.2p each to help fund mining operations in Zimbabwe and at its gold, copper, silver and lead projects in Romania.

Shares were trading at 0.435p at noon on Friday.
 

Quick facts: Vast Resources PLC

Price: 0.393 GBX

AIM:VAST
Market: AIM
Market Cap: £40.37 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Vast Resources PLC named herein, including the promotion by the Company of Vast Resources PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Vast Resources secures $15mln facility to bring Baita Plai and its diamonds...

Vast Resources' (LON:VAST) CEO Andrew Prelea, Andrew Hall who's head of corporate development as well as CFO Paul Fletcher speak to Proactive London's Andrew Scott following the news they've secured a $15mln financing facility. They say the funds will predominantly be used to bring Baita...

3 weeks, 4 days ago

2 min read