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Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
26 September 2019
Vast Resources plc
(“Vast” or the “Company”)
Chiadzwa Community Diamond Concession
Vast Resources plc, the AIM-listed mining company, is pleased to update the market on progress on the Diamond Concession in Zimbabwe, now named Chiadzwa Community Diamond Concession (“the Concession”).
Following the announcement made on 17 June 2019 the Company is pleased to announce progress as follows:
Andrew Prelea, Chief Executive Officer of Vast, commented:
“This is the beginning of an exciting era in Zimbabwe, and working together with government and community has been a great pleasure. Being a part of this landmark project is of great significance to all the stakeholders, being a first of its kind where the community will have a direct benefit from the natural resources in their community. Given the complexities of the matters that have had to be taken into consideration, we are very happy with the results to date. I would like to thank the Company’s team on the ground in Zimbabwe as well as the Government of Zimbabwe for all the guidance and support that they have given in the whole project. We look forward to arrangements being concluded.
I also look forward to providing an update regarding the financing mechanism for both the Community concession and for Baita Plai in Romania shortly.
For further information, visit www.vastplc.com or please contact:
|Vast Resources plc|
Andrew Prelea (Chief Executive Officer)
+44 (0) 1491 615 232
|Beaumont Cornish - Financial & Nominated Adviser |
+44 (0) 020 7628 3396
|SP Angel Corporate Finance LLP – Broker |
+44 (0) 20 3470 0470
+44 (0) 20 7138 3204
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”).
ABOUT VAST RESOURCES PLC
Vast Resources plc, is an AIM listed mining company with mines in Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and commencement of the joint venture mining agreement on the Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is currently underway towards developing and recommissioning the mine on completion of funding and the commencement of the of the Community Concession Block in Chiadzwa, Zimbabwe
Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance, and is focused on its expansion through the development of a second open pit operation and new metallurgical complex at the Carlibaba Extension Area.
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