Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
15 March 2018
Vast Resources plc
(“Vast” or the “Company”)
Further update on proposed USD 9.5 million Pre-Payment Off-take with Mercuria
Vast Resources plc, the AIM-listed mining company with operating mines in Romania and Zimbabwe, announces that as part of the arrangements towards finalisation of the proposed USD 9.5 million Pre-Payment Off-take Agreement with Mercuria Energy Trading SA ('Mercuria') the Company has issued 565 million warrants in terms of the authority from shareholders granted at the Company's general meeting held on 14 February 2018.
The Company continues to make good progress with Mercuria to finalise the Pre-Payment Agreement in line with the time estimates given in the Company's announcement on 9 March 2018. The market will be kept informed of developments.
For further information, visit www.vastresourcesplc.com or please contact:
| Vast Resources plc|
Andrew Prelea (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 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% 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