Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
26 February 2018
Vast Resources plc
(“Vast” or the “Company”)
Appointment of Country Manager (Zimbabwe)
Vast Resources plc, the AIM-listed mining company with operating mines in Romania and Zimbabwe, is pleased to announce the appointment of Mr Will Maberly as Country Manager for Zimbabwe. Mr Maberly's appointment is in line with the Company's updated strategy to increase its footprint in Zimbabwe, seeking new opportunities and revitalising historic claims, in line with the amelioration of the political and economic environment in the country.
Mr Maberly, a full-time resident of Zimbabwe, began his career in agricultural development, working across Zimbabwe and pioneering various commercial enterprises including the distribution of high-protein, low-cost foods into the rural areas of the country. Mr Maberly is one of Vast's original shareholders and since 2012, has acted as a consultant to the Company on community and mining related issues. Specifically, Mr Maberly has acted as Vast's nominated representative overseeing development and operations at the Company's 25% owned gold mine, Pickstone-Peerless, which commenced gold production in September 2015.
Andrew Prelea, Chief Executive of Vast, commented:
“With the current changes that are happening in Zimbabwe, we are keen to leverage our long-standing position in the country's minerals industry, and we believe that to do this effectively it is important to build on our day to day local knowledge in-country. This is a similar approach to management structure which we have taken in Romania, where Gabriela Dobrota has been integral in supporting our development there.
“Our intention is for Will to take a leading role in evaluating new opportunities in Zimbabwe, liaising with the Government and local investors, in addition to providing practical management assistance over our current interests.”
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.
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 Company's portfolio also includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards obtaining the relevant permissions to start developing and ultimately commissioning the mine.
The Company also has interests in a number of projects in Southern Africa including a controlling 25 per cent. interest in the producing Pickstone-Peerless Gold Mine in Zimbabwe.