Vast Resources PLC (LON:VAST) has released a detailed cashflow forecast and production schedule now that confirmatory drilling has been completed at the Baita Plai project in Romania.
By the second quarter of 2021, the company plans to be producing over 2,000 tonnes of concentrate per quarter. By the third quarter, it will be generating net revenue of over US$5mln per quarter.
Vast already has 150 tonnes of prepared copper concentrate that will form part of the first sales to Mercuria which is now expected to be delivered in October.
The company has also advised the market that there has been a safety issue at the railway bridge access point between the mine and the flotation plant that has caused a minor delay of three to four weeks to the first sale of concentrate.
“Batia Plai is expected to be one of the lowest cost per ton copper producers globally,” Vast chief executive Andrew Prelea said in a statement. “The low operating costs will ensure Baita Plai remains a viable commercial operation regardless of the potential future commodity market fluctuations.”