Vast Resources plc Baita Plai Project & Chiadzwa Community Diamond Project Update
24 March 2020 - 2:00AM
UK Regulatory
TIDMVAST
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
23 March 2020
Vast Resources plc
("Vast" or the "Company")
Baita Plai Project & Chiadzwa Community Diamond Project Update
Vast Resources plc, the AIM-listed mining company, is pleased to update
the market on progress at its Baita Plai Polymetallic Mine "Baita Plai"
in Romania and on progress on the anticipated Joint Venture Agreement
between the Company's majority owned Katanga Mining Pvt Ltd (a joint
venture company between the Company and the Chiadzwa Community
Development Trust (CCDT)) and Zimbabwe Consolidated Diamond Company
(Pvt) Ltd (wholly owned by the Government of Zimbabwe) concerning the
Chiadzwa Community Diamond Project.
The Company can confirm as matters stand that the previously announced
shipping updates made on 16(th) , 18(th) and 20(th) March 2020 remain on
track and also that the Company still maintains the Baita Plai target
for the commencement of production announced on 10(th) March 2020.
The Company can also confirm that following the announcement made on
3(rd) March 2020 regarding the Chiadzwa Community Diamond Project, it
still anticipates the conclusion of the Joint Venture by the end of
March 2020.
Further announcements will be made to confirm the above or revise
expectations as and when appropriate.
**ENDS**
For further information, visit www.vastplc.com or please contact:
Vast Resources plc www.vastplc.com
Andrew Prelea (Chief Executive +44 (0) 1491 615 232
Officer)
Andrew Hall
Beaumont Cornish - Financial & www.beaumontcornish.com
Nominated Adviser +44 (0) 020 7628 3396
Roland Cornish
James Biddle
SP Angel Corporate Finance LLP www.spangel.co.uk
-- Broker +44 (0) 20 3470 0470
Richard Morrison
Caroline Rowe
Blytheweigh www.blytheweigh.com
Tim Blythe +44 (0) 20 7138 3204
Megan Ray
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 an AIM listed mining company with mines in
Romania and Zimbabwe focused on the rapid advancement of high quality
brownfield projects by recommencing production at previously producing
mines in Romania and 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.
Attachment
-- Baita Plai Project & Chiadzwa Community Diamond Project Update
https://ml-eu.globenewswire.com/Resource/Download/c2a2cdca-95dd-4113-bc99-3707b85be08f
(END) Dow Jones Newswires
March 23, 2020 11:00 ET (15:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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