Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
25 April 2017
Vast Resources plc
(“Vast” or the “Company”)
Gold and Silver Concentrate Test Production Commences at
Manaila Polymetallic Mine, Romania
Vast Resources plc, the AIM-listed mining company with operations in Romania and Zimbabwe, is pleased to announce that gold and silver test production has commenced ahead of schedule at its Manaila Polymetallic Mine in Romania (“MPM” or “Manaila”), providing the Company with a third revenue stream, in addition to the existing copper and zinc concentrates.
- Initial commissioning of the Knelson Concentrator to extract the free gold and silver commenced today
- Targeting a steady state production of 30 tonnes per month of concentrate from May 2017 onward at a grade of 80g/t Au and 114g/t Ag (equating to an expected monthly production target of 75oz Au Eq).
Roy Pitchford, Chief Executive Officer of Vast, commented:
“The production profile of our Manaila Mine continues to improve as we target higher tonnages, higher grade copper and zinc concentrates and now a third revenue stream in the form of a gold/silver concentrate. Commercial production of this concentrate will directly enhance Manaila's financial performance and I look forward to presenting our next quarterly production report with this in mind.”
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
| Peterhouse Corporate Finance Ltd – Joint Broker|
+44 (0) 20 7469 0936
| 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.
* Vast ownership is currently 50% (25.01% when SSCG Africa Holdings Ltd financing conditions precedent are fulfilled as per announcement on 30 January 2017).
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