Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
21 January 2019
Vast Resources plc
(“Vast” or the “Company”)
Update on securing off take Pre-Payment Finance
Vast Resources plc, the AIM listed mining company with operating mines in
Some initial due diligence has already been in process by other potential off-take partners, a non-binding indicative term sheet has been received and others are promised very shortly. Legal work will commence shortly, and it is anticipated that the process will not be protracted as the Board believes the technical and legal due diligence that has already been performed on Baita Plai is robust and can be used to accelerate the process of securing off take prepayment finance.
Amicable discussions are in process with Mercuria on the future relationship between Mercuria and the Company with regard to off take from Manaila and the obligations of the Company with regard to Tranche A prepayment finance of
**ENDS**
For further information, visit www.vastresourcesplc.com or please contact:
Vast Resources plc Andrew Prelea (Chief Executive Officer) | www.vastresourcesplc.com +44 (0) 20 7236 1177 |
Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 020 7628 3396 |
Brandon Hill Capital Ltd – Joint Broker Jonathan Evans | www.brandonhillcapital.com +44 (0) 20 3463 5016 |
SVS Securities Plc – Joint Broker Tom Curran Ben Tadd | www.svssecurities.com +44 (0) 20 3700 0100 |
St Brides Partners Ltd Susie Geliher Juliet Earl | www.stbridespartners.co.uk +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”).
Notes
Vast Resources plc is an AIM listed mining and resource development company focussed on the rapid advancement of high-quality brownfield projects and recommencing production at previously producing mines in
Vast Resources currently owns and operates the Manaila Polymetallic Mine in
The Company also has interests in a number of projects in