Update on Debt Funding
Vast Resources plc / Ticker: VAST / Index: AIM /
Sector: Mining
1 September 2023
Vast Resources plc(‘Vast’ or the
‘Company’)
Update on Debt
Funding
Vast Resources plc, the AIM-listed mining company, is pleased to
announce an update in relation to the Asset Backed Debt facility
from A&T Investments SARL (“Alpha”) as announced on 16 May 2022
and the debt owed to Mercuria Energy Trading SA (“Mercuria”)
relating to Tranche A of the Prepayment Agreement announced on 21
March 2018.
Further to the announcement made on the 7 August 2023 the
Company has now concluded the legal documentation regarding the
extension to 29 September 2023.
**ENDS**
For further information, visit
www.vastplc.com or please contact:
| Vast
Resources plcAndrew Prelea (CEO)Andrew Hall (CCO) |
www.vastplc.com+44 (0) 20 7846 0974 |
| Beaumont
Cornish – Financial & Nominated AdvisorRoland
CornishJames Biddle |
www.beaumontcornish.com+44 (0) 20 7628 3396 |
| Shore
Capital Stockbrokers Limited
– Joint Broker Toby Gibbs / James
Thomas (Corporate Advisory) |
www.shorecapmarkets.co.uk +44 (0) 20 7408 4050 |
| Axis
Capital Markets Limited – Joint
Broker Richard Hutchinson |
www.axcap247.com +44 (0) 20 3206 0320 |
| St Brides
Partners LimitedSusie Geliher |
www.stbridespartners.co.uk+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 exposure to a near term revenue opportunity 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 over all sales of non-ferrous concentrate and any
other metals produced. Processing of stockpiled ore on site is
expected to commence in mid-2022.
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