Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
12 October 2020
Vast Resources plc
(“Vast” or the “Company”)
Progress on asset backed debt financing
Vast Resources plc, the AIM-listed mining company, is pleased to update the market on progress on the asset backed debt financing process linked to its Baita Plai Polymetallic Mine (“Baita Plai”) in
Following the previous announcement made on 10 September 2020 regarding progress on the debt financing process with an international banking institution (“the Bank”), the Company would like to inform the market on an indicative timeline to the conclusion of the debt finance facility.
Independent consultants have now been engaged by the Bank and subject to the satisfactory finalisation of technical, environmental & legal due diligence the Company and the Bank are targeting the finalisation of a Binding Term Sheet by the end of November with final approval targeted in December.
For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:
|Vast Resources plc|
Andrew Prelea - CEO
+44 (0) 20 7846 0974
|Beaumont Cornish - Financial & Nominated Adviser |
+44 (0) 020 7628 3396
|SP Angel Corporate Finance LLP – Joint Broker |
+44 (0) 20 3470 0470
|Axis Capital Markets Limited – Joint Broker |
+44 (0) 20 3206 0320
|St Brides Partners Limted |
+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”).
ABOUT VAST RESOURCES PLC
Vast Resources plc, is a United Kingdom AIM listed mining company with mines and projects in
The Company’s Romanian portfolio includes an 80% interest in the Baita Plai Polymetallic Mine. Baita Plai is located in the Apuseni Mountains, Transylvania, an area which hosts Romania’s largest polymetallic mines. Work is now currently underway towards first concentrate production as well as efforts in place to establish a maiden Resource under the JORC code.
The Company also owns the Manaila Polymetallic Mine in