Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
18 December 2017
Vast Resources plc
(“Vast” or the “Company”)
Vast Resources plc, the AIM-listed mining company with operating mines in Romania and Zimbabwe, announces that Mr Roy Pitchford has resigned from his position as Chief Executive Officer and Director, effective from 31 December 2017. Mr Andrew Prelea, the President of Vast's Romanian subsidiary, is assuming the role of Chief Executive Officer and it is anticipated that he will join the Board in due course.
Brian Moritz, Chairman of Vast, commented: “Roy has had an invaluable contribution to our Company – stewarding Vast from an exploration and development company back in 2014, to a production company with two operating mines and third due to come on stream in the very near future. To say that Roy has fundamentally changed this business is an understatement – and for this, I am hugely grateful.
“When Roy joined the Board three years ago, Vast was almost exclusively focussed on Zimbabwe, his country of birth and a place that he continues to feel very passionately about. Over subsequent years our focus has increasingly turned to Romania and it is this change that has prompted Roy to step down as CEO, to be replaced by Andrew. I am confident that Andrew is well positioned to execute our strategic objectives in Romania, whilst maintaining and expanding our interests in Zimbabwe.
“I would like to take this opportunity to thank Roy again for his considerable input into the growth of Vast and I wish him well in all of his future endeavours.”
For further information, visit www.vastresourcesplc.com or please contact:
| Vast Resources plc|
Roy Pitchford (Chief Executive Officer)
+44 (0) 20 7236 1177
| Beaumont Cornish – Financial & Nominated Adviser|
+44 (0) 020 7628 3396
| 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
+44 (0) 20 7236 1177
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 own and operates the Manaila Polymetallic Mine in Romania, which was commissioned in 2015. The Company's portfolio also includes 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 25 per cent. interest in the producing Pickstone-Peerless Gold Mine in Zimbabwe.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vast Resources plc via Globenewswire