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Baita Plai Polymetallic Mine Update

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

24 July 2020


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

Baita Plai Polymetallic Mine Update

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

Final Shipping Update

Following the previous announcement regarding shipping updates made on 13th July 2020, the Company can confirm that the remaining containers of equipment, referred to in previous annoucements, have all arrived on site at Baita Plai.

Metallurgical Test Work Update

Following the previous announcements made on 12th & 15th May 2020 regarding the Baita Plai Metallurgical Test Work, the Company can confirm that the testing of Copper & Zinc has been finalised and the results are encouraging. The testing of the Lead and Molybdenum are ongoing. The Company will receive the Final Metallurgical Report from Grinding Solutions Ltd in August 2020.

The Company can also confirm it is now in receipt of the first batch of underground drill hole assays from ALS and the results are equally encouraging. Further batches of data are expected over the coming weeks. The Company will have a complete set of Assay results ready for publication in August 2020.  

Commencement of Production Update

The Company can confirm that the commencement of underground production will go ahead, in line with previous annoucements, during the week commencing 27th July 2020. First concentrate will be produced in August 2020 in preparation for sale to Mercuria.

The Company will continue to update shareholders via social media.

**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. With the granting of  the new extended Manaila/Carlibaba Exploitation License it will allow the Company to re-examine the exploitation of the mineral resources within the larger Carlibaba license area

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Quick facts: Vast Resources PLC

Price: 0.15556

Market: AIM
Market Cap: £19.4 m
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