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
Following the announcement made on 17 June 2019 the Company is pleased to announce progress as follows:
- The Company has signed a Joint Venture Agreement with Chiadzwa Mineral Resources (Pvt) Ltd (“CMR”), a company designated to represent the Chiadzwa Community interests in the Concession. This resulted in the formation of Katanga Mining (Pvt) Ltd (”Katanga”).
- A further Joint Venture Agreement between Katanga and the Zimbabwe Consolidated Diamond Company (Pvt) Ltd (“ZCDC”), a government entity which represents the
Republic of Zimbabwe in the diamond mining sector, is set to be officially signed during the first week of October - Details of the Chiadzwa JV will be announced at the same time as the announcement of the ZCDC JV to which it is linked.
- Furthermore the Company has settled the historic claims by mutual consent. The Company will update the market further as this matter progresses.
Andrew Prelea, Chief Executive Officer of Vast, commented:
“This is the beginning of an exciting era in
I also look forward to providing an update regarding the financing mechanism for both the Community concession and for Baita Plai in
**ENDS**
For further information, visit www.vastplc.com or please contact:
Vast Resources plc Andrew Prelea (Chief Executive Officer) Andrew Hall | www.vastplc.com +44 (0) 1491 615 232 |
Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 020 7628 3396 |
SP Angel Corporate Finance LLP – Broker Richard Morrison Caroline Rowe | www.spangel.co.uk +44 (0) 20 3470 0470 |
Blytheweigh Tim Blythe Megan Ray | www.blytheweigh.com +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
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in
Vast Resources owns the Manaila Polymetallic Mine in
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