Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
31 March 2022
Vast Resources plc
(“Vast” or the “Company”)
Ghaghoo Diamond Mine
Vast Resources plc, the AIM-listed mining company announces an update regarding its withdrawal from the acquisition process of Gem Diamonds Botswana (pty) Ltd (‘GDB’), a wholly owned subsidiary of Gem Diamonds Ltd (‘Gem Diamonds’) which owns the Ghaghoo Diamond Mine in
Further to the previous announcement regarding the Company informing Botswana Diamonds PLC (“BOD”) & Gem Diamonds (together “the parties”) of its intention not to proceed with the acquisition of GDB, as announced on 23 August 2021, the parties continue working together to ensure a mutually beneficial outcome and in the interim an agreement has been reached to extend the longstop date by 40 days from 31 March 2022 to 10 May 2022 to allow BOD to secure an alternative joint venture partner.
**ENDS**
For further information, visit www.vastplc.com or please contact:
Vast Resources plc Andrew Prelea (CEO) Andrew Hall (CCO) | www.vastplc.com +44 (0) 20 7846 0974 |
Beaumont Cornish – Financial & Nominated Advisor Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 20 7628 3396 |
Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory) | www.shorecapmarkets.co.uk +44 (0) 20 7408 4050 |
Axis Capital Markets Limited – Joint Broker Kamran Hussain | www.axcap247.com +44 (0) 20 3206 0320 |
St Brides Partners Limited Susie Geliher / Charlotte Page | www.stbridespartners.co.uk +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
In
The Company's Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts
The Company also owns the Manaila Polymetallic Mine in
In