Atlas Special Opportunities LLC
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
16 May 2022
Vast Resources plc
(“Vast” or the “Company”)
Atlas Special Opportunities LLC
Vast Resources plc, the AIM-listed producing mining company, announces that it has this morning received a conversion notice from Atlas Special Opportunities LLC (“Atlas”) for $800,000 which would result in the issue of 241,799,020. In the light of the full repayment being made by the Company to Atlas today as separately announced, the Company is considering its position as to its response to this notice and is currently communicating with Atlas.
**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 Romania and Zimbabwe.
In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.
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 Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.
The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.
The Company has also acquired an interest in a joint venture company which provides expsoure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced. Processing of stockpiled ore on site is expected to commence in Q2 2022.
In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.
