Mine Plan Development Update

RNS Number : 5643S

Vast Resources PLC

17 March 2021

 

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

17 March 2021

Vast Resources plc
('Vast' or the 'Company')  

Mine Plan Development Update

Vast Resources plc, the AIM-listed mining company, is pleased to advise that the full executive management team are on site at the Baita Plai Polymetallic Mine in Romania to accelerate and facilitate the various aspects and workstreams involved in the development of the revised mine plan.

The assembled team includes Andrew Prelea (Chief Executive Officer), Marcus Brewster (Vast Baita Plai S.A. General Manager), Craig Harvey (Chief Operating Officer), Paul Fletcher (Chief Financial Officer), and Andrew Hall (Chief Commercial Officer).  This synchronised visit has enabled the full team to coordinate on the various technical, financial and commercial aspects of the revised mine plan in anticipation of the delivery of the pre-ordered and previously announced equipment. 

The Company intends to provide photos and videos from these meetings and mine inspections over the coming weeks via its social media.

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

"The next two weeks should be an enormously constructive period for Vast as we physically assemble the key elements responsible for delivering on our revised and upgraded mine plan at Baita Plai."

**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	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

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.

In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.

 

END

 

 

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