Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
3 March 2023
Vast Resources plc
(‘Vast’ or the ‘Company’)
The Board of Vast Resources today announces that Craig Harvey, Technical Director, has notified the Board of his intention to step down as a director of the Company which will become effective immediately.
Andrew Prelea, CEO of Vast, commented:
“On behalf of all the board, I would like to thank Craig for his contribution to the Company during his tenure as a director. We wish him well for the future.”
Market Abuse Regulation (MAR) Disclosure
Certain 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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 (“UK MAR”) until the release of this announcement.
For further information, visit www.vastplc.com or please contact:
|Vast Resources plc|
Andrew Prelea (CEO)
Andrew Hall (CCO)
+44 (0) 20 7846 0974
|Beaumont Cornish – Financial & Nominated Advisor|
+44 (0) 20 7628 3396
|Shore Capital Stockbrokers Limited – Joint Broker |
Toby Gibbs / James Thomas (Corporate Advisory)
+44 (0) 20 7408 4050
|Axis Capital Markets Limited – Joint Broker |
+44 (0) 20 3206 0320
|St Brides Partners Limited|
+44 (0) 20 7236 1177
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania, Tajikistan, and Zimbabwe.
In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.
The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA which owns 100% of the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.
The Company also owns the Manaila Polymetallic Mine in Romania, which the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.
Vast has an interest in a joint venture company which provides a share of revenue generated from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty equivalent over all sales of non-ferrous concentrate and any other metals produced.
In Zimbabwe, the Company is preparing for the release of its diamonds previously mined by the Company and preparing for their marketing. Upon the finalisation of the process the Company will recommence its focus on the finalisation of the mining agreement on the Community Diamond Concession in the Marange Diamond Fields.