In the six months to 31 October 2021 Vast Resources PLC (AIM:VAST) generated revenue of US$1.14mln, and booked a loss of US$7.32mln.
Costs rose due to the implementation of covid-related measures, and there was a substantial foreign exchange loss.
Subsequently, in the fourth quarter of 2021 the company boosted ore tonnes milled at the Baita Plai mine in Romania by 88%.
In addition, Vast has received a binding term sheet from a Swiss investment banking house for the refinancing of its outstanding debt of US$6.25mln.
Under the existing terms of the debt, the outstanding amount of the first issuance was due for repayment on 31 January 2022; however the company and Atlas, the current holder of the debt, have executed a deed for a variation of terms to allow for a three month extension.