VAST Vast Resources Plc

 
TIDMVAST 
 

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

7 December 2023

Vast Resources plc

('Vast' or the 'Company')

MOU regarding Aprelevka Gold Mines

Vast Resources plc ("Vast"), the AIM-listed mining company, is pleased to announce that it has agreed an extension until 15 January 2024 of the time period for completion of due diligence pursuant to the MOU regarding Aprelevka Gold Mines that was announced on 19 October 2023.

**ENDS**

For further information, visit www.vastplc.com or please contact:

 
Vast Resources plc                     www.vastplc.com 
 Andrew Prelea (CEO) 
Beaumont Cornish -- Financial          www.beaumontcornish.com 
 & Nominated Advisor                    +44 (0) 20 7628 3396 
 Roland Cornish 
 James Biddle 
Shore Capital Stockbrokers Limited     www.shorecapmarkets.co.uk 
 -- Joint Broker                        +44 (0) 20 7408 4050 
 Toby Gibbs / James Thomas (Corporate 
 Advisory) 
Axis Capital Markets Limited --        www.axcap247.com 
 Joint Broker                           +44 (0) 20 3206 0320 
 Richard Hutchinson 
St Brides Partners Limited             www.stbridespartners.co.uk 
 Susie Geliher                          +44 (0) 20 7236 1177 
 

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania, Tajikistan, and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

The Company's Romanian portfolio includes 100% interest in Vast Baita Plai SA which owns 100% of the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which the Company is looking to bring back into production following a period of care and maintenance. The Company has also been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

Vast has an interest in a joint venture company which provides exposure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty on overall sales of non-ferrous concentrate and any other metals produced.

(END) Dow Jones Newswires

December 07, 2023 07:30 ET (12:30 GMT)

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