Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
8 February 2019
Vast Resources plc
(“Vast” or the “Company”)
Appointment of Chief Financial Officer
Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe, is pleased to announce the appointment of Mr. Paul Fletcher as Chief Financial Officer with immediate effect. Paul will assume the day-to-day financial management duties of Mr. Carl Kindinger, who is stepping down from the role.
Paul, a Chartered Accountant and Fellow of the Association of Corporate Treasurers, joins Vast following 25 years working in the commodity and financial services industries. He has held a variety of senior international finance and operational roles in trading, processing, and financial businesses in the US, Europe, and Asia, most recently with Bunge, the US agribusiness and food company, as Global CFO & Controller of Bunge Financial Services, a Bunge group business unit providing financing and risk management solutions, and as Treasury and Trading Product Line Controller. During his 10-year tenure with Bunge, Paul was responsible for, amongst others, commodity finance structuring, product and risk control, management and regulatory reporting, budgeting, financial modelling, performance analytics, balance sheet and liquidity management. Prior to joining Bunge, Paul held various senior roles within Cargill's energy business and internal audit, PepsiCo Snacks and KPMG.
Andrew Prelea, Chief Executive of Vast, commented, “I am delighted to welcome Paul to the team, and I am confident that he will prove to be a valuable addition to our senior management group. Paul has demonstrated his expertise in financial reporting and day-to-day financial management but has also shown great skill and ability in furthering high level commercial and corporate objectives and in line with this, I look forward to Paul assuming an important role in advancing the Company's strategic financial goals.
“Roy tucker and I would also like to take this opportunity to thank Carl for his stalwart support for the Company over the past two and a half years and wish him all the very best for the future.”
For further information, visit www.vastresourcesplc.com or please contact:
Vast Resources plc
+44 (0) 20 7236 1177
Beaumont Cornish – Financial & Nominated Adviser
Brandon Hill Capital Ltd Joint Broker
+44 (0) 20 3463 5016
SVS Securities Plc Joint Broker
+44 (0) 20 3700 0100
St Brides Partners Ltd
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).
Vast Resources plc is an AIM listed mining and resource development company focussed on the rapid advancement of high-quality brownfield projects and recommencing production at previously producing mines in Romania and Zimbabwe.
Vast Resources currently owns and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, and is focussed on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area. The Companys Romanian portfolio also includes interests in two brownfield development projects; the Baita Plai Polymetallic Mine (80% interest), which has a reported 1,800,000-tonne copper-silver-zinc-lead-gold-tungsten-molybdenum ore body at 6% copper equivalent (Russian Reserves and Resources Reporting System) within the mining licence area; and the Blueberry Project (29.41% interest), a 7.285km brownfield area of prospectivity in the Golden Quadrilateral of Romania located in the immediate vicinity of the now closed Baia de Aries mine.
The Company also has interests in a number of projects in Zimbabwe including a controlling 25 per cent. interest in the producing Pickstone-Peerless Gold Mine, a 23.75% economic interest in the Eureka Gold Mine, and an 86.67% interest in a SPV which has a due diligence access agreement and pre-agreed joint venture terms on a diamond concession within the Marange Diamond Fields, widely considered to be one of the richest sources of alluvial diamonds globally.