Vast Resources plc/ Ticker: VAST/ Index: AIM/ Sector: Mining. He has held a variety of senior international finance and operational roles in trading, processing, and financial businesses in the US, Europe, and Asia, most recently with Bunge, the US agribusiness and food company, as Global CFO& Controller of Bunge Financial Services, a Bunge group business unit providing...
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...
RNS Number: 7093 S Vast Resources PLC 07 November 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7088 S Vast Resources PLC 07 November 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Subscription for shares under the Company’ s Share Appreciation Rights Scheme. Vast Resources plc, the AIM-listed mining company, announces that further to the award of rights under the Company’ s Share Appreciation Rights Scheme announced on 5 November 2019 a participant has on 7 November exercised rights to subscribe for 20,000,000 Ordinary Shares in the...
RNS Number: 6896 S Vast Resources PLC 07 November 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 6890 S Vast Resources PLC 07 November 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
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...
Award of rights under the Company’ s Share Appreciation Rights Scheme. Vast Resources plc, the AIM-listed mining company, announces the offer of rights as set out below under the Share Appreciation Rights Scheme which Scheme was set up to incentivise directors and senior executives/consultants of the Company. The last award of SARs announced was on 1 March...
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...
Vast Resources plc/ Ticker: VAST/ Index: AIM/ Sector: Mining. 25 October 2019 Vast Resources plc. Exercise of Warrants and Issue of Equity.
Vast Resources* (VAST LN) 0.34p, Mkt Cap £36m - $15m funding agreed The Company signed a binding conditional Bond Issue Deed for $15m (gross) in secured convertible bonds to be issued to Atlas Capital Markets, a UK based fund. The team expects the funding to reach production at the Baita Plai Polymetallic Mine in Romania and at the Chiadzwa Community Diamond concession in Zimbabwe. Terms of the convertible loan facility include: Bonds to issued at 90% of par value providing $13.5m in net proceeds in four tranches ($7.1m, $4.5m, $2.1m and $1.4m). 5% coupon rate per annum and two years maturity from the date of each issuance. Unless principal repayments and accrued interest are not settled in cash, bonds will be converted at their par value at 0.24p or 90% of the VWAP over prior 20 trading days (although, Atlas is restricted to the exercise of up to a maximum of 10% of nominal value of the Bonds outstanding at the end of the non-conversion period each month). The facility can be repaid in cash with no conversion allowing the Company to replace the convertible with a different source of funding with the Swiss Bank or others. Non-conversion period covers six months from the First Issuance Date and 12 calendar months from the Second Issuance Date (the latter being at discretion of Atlas). If Atlas elects (the fund has already suggested the Company it intends to exercise its election right) to exercise the non-conversion period of 12 months in respect of Second, Third and Fourth tranches (ie ‘Zimbabwe Bonds’), the repayable amount of Zimbabwe Bonds will be repayable at any time before the anniversary of the Second Issuance Date at a price of 200% of the principal amount (~$18.8m, being double the $9.4m par value). If the amount including the premium is not repaid during the period, Atlas can exercise the conversion right in respect of the Zimbabwe Bonds. In the event Atlas decides to exercise non-conversion period, the Company has an option to settle the premium repayment amount from cashflows projected to be generated from the Diamond Concession limiting potential dilution. The bonds will be senior secured obligations covered by interest over Baita Plai and the shares of the Company’s subsidiary holding the Diamond Concession. The lender will also receive $3.75m worth of warrants at a fixed price of 0.26p issued on each Issuance Date pro rate to each bond issuance (rights to exercise the warrant will expire on the third anniversary of each relevant Issuance Date). The facility is subject to certain conditions including shareholder approval, execution of the agreement with Mercuria (the Company will repay $1m of the $4m Tranche A loan), due diligence relative to each tranche, over time completion of formalities on the Diamond Concession following grant of mining license, and thereafter specific practical milestones on the development of the Diamond Concession up to cold commissioning of the plant. Conclusion: The refinancing package is expected to provide development capital for the Company to bring Baita Plai and alluvial diamonds’ operations in Zimbabwe in production. The Company has also secured the option to prepay the facility should the team source cheaper and longer term funding once the high grade Baita Plai polymetallic mine starts production and commences to deliver cash flows that can be leveraged off. *SP Angel acts as Broker to Vast Resources
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...
Vast Resources plc, the AIM-listed mining company, is pleased to announce that the Company has signed a binding conditional Bond Issue Deed for a facility of up to US $15,000,000 through an issuance of secured convertible bonds to a UK based fund, Atlas Capital Markets Limited. The Directors believe the facility with Atlas offers full funding to reach...
RNS Number: 9228 Q Vast Resources PLC 23 October 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 9220 Q Vast Resources PLC 23 October 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7625 Q Vast Resources PLC 22 October 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
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...
RNS Number: 7427 Q Vast Resources PLC 22 October 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
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  • SHARES IN ISSUE
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Company Profile

Vast Resources has transitioned from an exploration company to a mining company, with a portfolio of high quality assets. In the short-term, the Company is focused on optimising mining operations at the Manaila Polymetallic Mine in Romania and exploring and developing the proximal area with the objective of establishing a multi-pit mining operation and new metallurgical processing complex. In addition, the Company intends to commission the Baita Plai Polymetallic Mine, also in Romania, once the relevant approvals are granted. The Board sees that the Manaila and Baita Plai mines will serve as a test case for future developments in Romania, which includes pursuing the Company’s relationship with Remin SA., amongst other interesting prospects. Additionally, the Company intends to retain its interest in certain interests in Zimbabwe, including its current controlling 25% interest in the Pickstone-Peerless Gold Mine, which was commissioned in 2015, and the proximal Giant Gold Mine Project, where recommencement of operations is now being evaluated. Vast continues to actively manage its Zimbabwean gold portfolio and intends to retain its controlling interest in the Pickstone-Peerless Gold Mine. The Company also has a pipeline of additional assets at various stages in the development curve, from deposit discovery to previously producing mines; the Board aims to realise these assets within a sensible time frame. In the interim, the Company is committed to keeping a low-cost base and generating revenues.

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Market Indices-

Locations

HQ
Nettlestead Place
Maidstone Road
Maidstone
ME18 5HA
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