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Baita Plai Project update

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

26 May 2020

Vast Resources plc
(“Vast” or the “Company”)

Baita Plai Project update

Vast Resources plc, the AIM-listed mining company, is pleased to update the market on progress at its Baita Plai Polymetallic Mine “Baita Plai” in Romania.

Following the previous announcement regarding shipping updates made on 5th May 2020, the Company can confirm that the second shipment of equipment, which includes forty-two one cubic metre underground wagons and railway cutting & bending equipment, arrived at Baita Plai over the long weekend. The Company will post photographs and videos of the equipment being unloaded on its social media pages, together with an updated project plan.

The arrival of the second shipment at Baita Plai now means that the Company has all the essential equipment necessary for the commencement of production at Baita Plai.

The Company can confirm the shipping schedules of the remaining containers of equipment are as follows:

  • 1st June 2020 – Third Shipment – includes an underground rock loader &  mining jackhammers.
  • 13th July 2020 – Fourth & Fifth Shipments – includes the remaining underground loaders, pneumatic loaders, ceramic filters & hydro cyclones.
  • 17th July 2020 – Sixth Shipment – includes the slurry pumps.

The Company will keep the market updated on the arrival of the remaining equipment and will post photographs and videos of the new equipment being installed ahead of the commencement of production in July.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources plc
Andrew Prelea (Chief Executive Officer)
Andrew Hall

 

 
www.vastplc.com
+44 (0) 20 7846 0974
Beaumont Cornish - Financial & Nominated Adviser 
Roland Cornish 
James Biddle

 
www.beaumontcornish.com
+44 (0) 20 7628 3396
SP Angel Corporate Finance LLP – Joint Broker
Richard Morrison
Caroline Rowe

 
www.spangel.co.uk
 +44 (0) 20 3470 0470

Axis Capital Markets Limited – Joint Broker
Richard Hutchison

 
www.axcap247.com
 +44 (0) 20 3206 0320
Blytheweigh
Tim Blythe
Megan Ray

 
www.blytheweigh.com 
+44 (0) 20 7138 3204

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).

ABOUT VAST RESOURCES PLC

Vast Resources plc, is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe - focused on the rapid advancement of high quality projects by recommencing production at previously producing mines in Romania and the commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.

The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is now currently underway towards developing and recommissioning the mine and the Community Concession Block in Chiadzwa, Zimbabwe.

Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance.

Quick facts: Vast Resources PLC

Price: 0.233

Market: AIM
Market Cap: £28.46 m
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