Vast Resources plc

Baita Plai Revised Mine Plan & Investor Presentation

Baita Plai Revised Mine Plan & Investor Presentation

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

30 March 2021

Vast Resources plc
(‘Vast’ or the ‘Company’)

Baita Plai Revised Mine Plan & Investor Presentation

Vast Resources plc, the AIM-listed mining company, is pleased to announce the finalisation and release of a new mechanised mine plan for its producing Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania, in line with the previous announcement made on 26 February 2021.

Full details of the new mine plan can be found on the Company’s website under Investor Presentations at the following link:

Highlights include:


  1. *Net after royalties & transportation costs.
  2. The assumptions used are set out below
  3. Actual sales and production figures will be reported on a bi-annual basis.
  4. Guidance will be provided to the market as the Company advances the new mine plan.

Andrew Prelea, Chief Executive Officer of Vast Resources PLC, commented:

“This upgraded mine plan, made possible with the employment of a mechanised approach to mining and with the benefit of XRT technology which will produce a primary crushed high-grade pre-concentrate that will feed to the mills and will be implemented by our new team of mine managers who bring with them many decades of practical experience in mine expansion and optimisation.  The capex required for this process is fully funded from existing resources and we expect to deliver a healthy revenue and cashflow from this asset during the 12 months from 1 April 2021, building considerably in the years thereafter.

This is a robust and comprehensive mine plan which has been developed using rigorous technical parameters.  On behalf of the board I believe the plan set out to shareholders today represents a benchmark for us to deliver on over the coming years in tandem with our broader expansion plans at Baita Plai and across our wider portfolio.”

Further Information

Overview of New Mine Plan

The Company has used the following assumptions in new mine plan:

    Sensitivities (USD millions)
    Discount rate
    8% 10% 12%
Prices 15% 157 138 122
10% 145 127 113
0 122 107 94
-10% 98 86 76
-15% 86 75 66
  Year 1 Year 2 Year 3 Year 4 Year 5 10 Year Average
Cu price $/t 8,950 8,850 8,750 8,500 7,800 7,800
Zn price $/t 2,825 2,825 2,725 2,625 2,525 2,525
Pb price $/t 1,975 2,000 2,000 2,000 2,000 2,000
Au price $/oz 1,725 1,725 1,700 1,700 1,650 1,650
Ag price $/oz 25.0 25.0 23.5 22.0 20.5 20.5

Mine Plan Q&A

The Company is pleased to announce that Andrew Prelea and members of the executive management team will provide a live presentation via the Investor Meet Company platform on Tuesday 6 April 2021 at 10.30 a.m. UK time to discuss the mine plan and answer shareholder questions.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.  The management will also look to address some questions that have been submitted to the Company by private shareholders over recent weeks.

Investors can sign up to Investor Meet Company for free and add to meet Vast via:

Investors who already follow Vast on the Investor Meet Company platform will automatically be invited.


For further information, visit, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:

Vast Resources plc
Andrew Prelea - CEO
Andrew Hall - CCO
+44 (0) 20 7846 0974
Beaumont Cornish - Financial & Nominated Adviser 
Roland Cornish 
James Biddle
+44 (0) 020 7628 3396
SP Angel Corporate Finance LLP – Joint Broker
Richard Morrison
Caroline Rowe
 +44 (0) 20 3470 0470

Axis Capital Markets Limited – Joint Broker
Richard Hutchison
 +44 (0) 20 3206 0320
St Brides Partners Limited
Susie Geliher 
+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”).

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the FCA, is acting as Nominated Adviser ("Nomad") to the Company in connection with this announcement and will not be acting for any other person or otherwise be responsible to any person for providing the protections afforded to clients of Beaumont Cornish or for advising any other person in respect of the matters set out in this announcement. Beaumont Cornish's responsibilities as the Company's Nomad are owed solely to London Stock Exchange and are not owed to the Company or to any Director or to any other person in respect of his or her decision to acquire any shares in the Company.


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 License that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.