Delisting of Convertible Bonds from TISE

RNS Number : 6553L

Vast Resources PLC

16 May 2022

 

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

16 May 2022

Vast Resources plc

("Vast" or the "Company")

Atlas Special Opportunities LLC

Delisting of Convertible Bonds from the International Stock Exchange

Vast Resources plc, the AIM-listed producing mining company, is pleased to announce, that further to the announcement today at 09:35 regarding the Company settling in full the outstanding bonds owed to Atlas Special Opportunities LLC  ("Atlas") linked to the Bond Issuance Deed announced on 24 October 2019, it has submitted the application to de-list the bonds from The International Stock Exchange.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources plc Andrew Prelea (CEO) Andrew Hall (CCO)	www.vastplc.com [phone]
Beaumont Cornish - Financial & Nominated Advisor Roland Cornish James Biddle	www.beaumontcornish.com [phone]
Shore Capital Stockbrokers Limited  - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)	www.shorecapmarkets.co.uk  [phone]
Axis Capital Markets Limited - Joint Broker Kamran Hussain	www.axcap247.com  [phone]
St Brides Partners Limited Susie Geliher Charlotte Page	www.stbridespartners.co.uk [phone]

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.

 

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