Appointment of Romanian Country Manager

RNS Number : 2912X

Vast Resources PLC

04 May 2021

 

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

4 May 2021

Vast Resources plc

('Vast' or the 'Company')

Appointment of Romanian Country Manager

Vast Resources plc, the AIM-listed mining company, is delighted to announce the appointment of Nicolae Turdean as Romanian Country Manager.  Nicolae, who has decades of experience in the mining industry, predominantly in Romania, will work alongside the newly appointed expert management team at the Baita Plai Polymetallic Mine and in conjunction with Andrew Prelea, CEO, in the advancement of Vast's wider strategic objectives in the country.

Nicolae began his career over 40 years ago in the Romanian mining industry and his in-depth knowledge of the jurisdiction, geology and regulatory environment should prove to be highly valuable as Vast looks to implement its upgraded mine plan at Baita Plai, and expand its operations to Vast's numerous development interests in due course.

Since starting his career, Nicolae has worked in numerous specialist and executive roles across various mines in Romania. Most recently, Nicolae held the position of President of the National Agency for Mineral Resources after previously working as a Mining Expert for the agency.  Prior to this, Nicolae was the Chief Executive of Cupru Min SA, the state owned copper producer.  During his time in these senior-level positions, Nicolae has worked as part of, and closely with, the Ministry of Economy and Commerce, the Minister of Economy and Finance, and the World Bank, as well as serving on the Board of Administration for a number of companies.  From his years of working within the mining industry, Nicolae has become a specialist in a number of key skills and has gained a holistic command over various aspects of the sector. These include: mining engineering, construction and management; regulatory framework and institutional setup; energy expert on gas transmission tariffs; and the management of international development projects for the sector, particularly in World Bank project management, procedures, and policies.

Nicolae also has had a significant number of specialist papers printed in a variety of industry publications. With his collection of papers written over the course of 35 years, Nicolae has written primarily for The Institute of the Economy of Industry and Romania Mining Revue, whilst also contributing to numerous research studies.

Nicolae holds both a Bachelor of Mining Science and a MSc. in the Management of Mining Activities from the Technical University of Petrosani in Romania. He also retains membership in several professional societies: he is an active member of the General Association of Romanian Engineers and the Romanian Associations for Power Policies, is a funding member of the National Committee of Mining Engineers, and is part of the National Association of Specialists in Mining Industry.

Andrew Prelea, Chief Executive Officer of Vast Resources Plc, commented:

"Nicolae is a pre-eminent figure in the Romanian mining industry and he and I will be working closely as we look to execute our upgrade plans at Baita Plai, and thereafter expand our operations to the pipeline of development opportunities we have in Romania.  His high-level access to various regulatory bodies and industry associations will complement the significant networks that we have already developed in the country as we look to establish Vast as a major mining company in the Romanian and Zimbabwean mining industries."

**ENDS**

For further information, visit www.vastplc.com , follow the Company on Twitter @vast_resources and LinkedIn, or please contact:

Vast Resources plc Andrew Prelea - CEO Andrew Hall - CCO	www.vastplc.com [phone]
Beaumont Cornish - Financial & Nominated Adviser  Roland Cornish  James Biddle	www.beaumontcornish.com [phone]
SP Angel Corporate Finance LLP - Joint Broker Richard Morrison Caroline Rowe	www.spangel.co.uk  [phone]
Axis Capital Markets Limited - Joint Broker Richard Hutchison	www.axcap247.com  [phone]
St Brides Partners Limited Susie Geliher	www.stbridespartners.co.uk  [phone]

ABOUT VAST RESOURCES PLC: ROMANIAN OPERATIONS

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania 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 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 was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

 

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