Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
22 September 2020
Vast Resources plc
(“Vast” or the “Company”)
Zimbabwe Operations Update
Vast Resources plc, the AIM-listed mining company, is pleased to update the market on its operations in
The Company is proud to announce that Mark Mabhudhu, Executive Director of the Company’s Diamond Division, has received an offer to join the Government owned Zimbabwe Consolidated Diamond Company “ZCDC” as Chief Executive Officer starting immediately. Following a period of consultation with both the Company and the relevant Government of Zimbabwe Officials, a process that included a full disclosure as part of averting any possible conflict of interest, Mark Mabhudhu has accepted this role. As a result he will leave his current role with the Company.
The Company can confirm that its highly skilled geological and technical team remain employed by the Company and that it has identified a high level COO to manage the project who shall be engaged upon confirmation of the signing of the Joint Venture.
Mark Mabhudhu’s primary role will be to focus on the diamond sector’s contribution towards the Zimbabwean Government’s 2023
The Company can also confirm that this personnel change in
Further details regarding the finalisation of the Chiadzwa Community Diamond Project will be communicated to the market as and when they occur.
Andrew Prelea, Chief Executive Officer of Vast Resources PLC Commented:
“Whilst we are of course sad to see Mark (Mabhudhu) leave Vast Resources PLC, we are extremely excited that we will be able to continue to work with him in his new role within the diamond mining sector in
“On behalf of the Board and Mangement Team, I would like to thank Mark for all of his efforts and wish him all the best for the future and stress that he will always have an open door to return to the Company when he finalises his mandate at the ZCDC.”
For further information, visit www.vastplc.com or please contact:
|Vast Resources plc|
Andrew Prelea (Chief Executive Officer)
+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