Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
22 June 2018
Vast Resources plc
("Vast" or the "Company")
Baita Plai Licence Update: Ministerial Agreement Obtained
Vast Resources plc, the AIM-listed mining company with operating mines in
Obtaining the Minister's agreement, which was received at a meeting between the Company and the appropriate ministerial representatives, is the culmination of almost a year's activities which started in July 2017 with the commencement of a competitive selection process intended to achieve the granting of the right to mine. The Company was advised in August 2017 of the successful selection of AFCR and work since then has been focussed on establishing the detailed terms of the Association Licence Agreement, finalisation of which was announced on 30 May 2018.
Andrew Prelea, Chief Executive of Vast, commented:
"Following this agreement from the Minister matters now lie with Baita SA and AFCR to make the application for the final seal of approval from ANRM and I am confident that this last item should be dealt with quickly and without issue. The importance of Vast receiving the right to mine at Baita Plai cannot be overstated - simply put, this will allow us to begin mining a 1.8Mt orebody with a copper equivalent grade of approximately 6%, which would transform our production profile.
"We look forward to providing further updates as they occur."
**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 Charlotte Page | 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
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vast Resources plc via Globenewswire