Vast Resources talk fulfilment of conditions precedent of Manila Mine

Manaila mine: fulfilment of conditions precedent

Vast Resources plc, the AIM listed resource and development company, is pleased to announce that all the conditions precedent under the sale and purchase agreement for the acquisition of a 50.1 per cent. interest in Sinarom Mining Group srl, the owner of the 1.8Mt polymetallic Manaila mine located in northern Romania, have now been fulfilled.

Accordingly the SPA is now conditional only upon the requirements of Romanian law which provides that any company share sale be gazetted for a period of 30 days before the transfer can be registered at the Romanian Trade Registry. The sale of shares in Sinarom to Vast has already been gazetted and the Company is not aware that there could be any possible valid objection.

It is expected that Registration will become effective on or around 20 August 2015.

As announced on 17 July 2015, Vast has already taken over management of Sinarom under a power of attorney and progress towards recommencing production at a rate of approximately 10,000 tonnes per month is well advanced.

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