Vast Resources PLC (LON:VAST) has said it will publish a JORC 2012 compliant Measured and Indicated Mineral Resource for the Baita Plai Polymetallic Mine in Romania in a few days at the end of October.
The resource estimate will cover the first four years of production and further drilling will be conducted, with the objective of publishing an expanded JORC 2012 Mineral Resource, the group said in its latest full-year results statement.
In Zimbabwe, at the Chiadzwa Community Diamond Concession, Vast said there had been a delay in the finalisation of the joint venture agreement with government owned-Zimbabwe Consolidated Diamond Company.
Vast added that its expectation currently is that it will conclude an agreement once coronavirus (COIVD-19) restrictions are eased and this will enable the procurement of a Special Grant for the exploration, development, and mining of the concession.
In the year to April 2020, Vast reported a loss of US$8.3mln (2019: US$9.1mln). Cash at the year-end was US$478,000 since when the junior has raised US$6mln through share issues and arranged a US$15mln bond facility with Atlas Capital Markets.