Vast Resources says JORC estimate for Baita Plai will be released this month
The resource estimate will cover the first four years of production
Company
LON:VAST
Vast Resources plc is an AIM-quoted mining and exploration company dedicated to the discovery, development, and production of precious and base metals. The company has a long-standing presence on the ground in both Romania and in Zimbabwe.
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The resource estimate will cover the first four years of production
The company said it has raised £1.7mln in a share placing to replenish its working capital and cover costs until it receives payment from its first copper concentrate sales
The AIM-listed company also said that it is on track to surpass its initial copper sales delivery target included in the project production and associated operational cashflow forecasts
The AIM-listed mining company said that following the recommencement of mining, daily blasting has been implemented on the mineralised horizon of the Antonio skarn between 17 level and 18 level
Vast Resources has a diverse portfolio of assets situated in Romania and Zimbabwe
The bridge installation will allow the mine to get back on-track, after safety concerns for the old bridge caused a minor delay
The funds raised will cover costs needed to seal debt financing for the Baita Plai mine
Vast has base and precious metal assets in Romania and Zimbabwe
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“These test results underpin both the near term and the future profitability of the company,” said chief executive Andrew Prelea
Mining operations can restart and underground drilling has yielded encouraging results.
The last remaining shipments of equipment recently arrived on-site in Romania
Vast Resources has operations in Romania and in Zimbabwe
The Baita Plai polymetallic mine in Romania is expected to sell its first concentrate in late August
Vast Resources has projects in Romania and Zimbabwe
Vast has extensive operations in Romania and Zimbabwe
All essential equipment required to start mining had arrived with further shipments scheduled through June and July
The latest equipment delivery, received over the weekend, means Vast has all essential equipment need to bring the mine into production
Vast Resources is pressing ahead with development work at Baita Plai
Drilling work is underway and the company expects to report more results in the coming weeks