Tajikistan Mining Forum & Non-Binding MOU Signed
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
20 May 2025
Vast Resources plc
("Vast" or the "Company")
Vast Attends Tajikistan Mining Forum
and Signing of Non-Binding MOU
Vast Resources plc, the AIM quoted mining company, was delighted to sponsor and present at the Tajikistan-UK Mining Forum at the London Stock Exchange yesterday. The event marked a significant opportunity to strengthen the relationship between UK and Tajikistan and to showcase investment potential in Tajikistan's mining sector.
The Company also notes that, at the event, it signed a non-binding Memorandum of Understanding with the Ministry of Industry and New Technologies of the Republic of Tajikistan (the "Ministry") (the "MoU"). The purpose of the MoU is to provide a framework of cooperation and facilitate collaboration between the two parties in respect of identifying new exploration and exploitation targets for non-ferrous and strategic mineral deposits for exploitation from historical databases, as well as identifying new exploration targets from greenfield areas, and work jointly towards developing a "Tajik Mineral Investment Fund' for the purpose of developing Tajikistan's mining industry.
The MoU will be valid until 19 May 2026, and any material developments in respect of Vast relating to the objectives of the MOU outlined above will be announced in due course.
**ENDS**
For further information, visit www.vastplc.com or please contact:
|
Vast Resources plc Andrew Prelea (CEO)
|
+44 (0) 20 7846 0974 |
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Strand Hanson Limited - Nominated & Financial Adviser James Spinney / James Bellman
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www.strandhanson.co.uk +44 (0) 20 7409 3494 |
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Shore Capital Stockbrokers Limited - Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)
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+44 (0) 20 7408 4050 |
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Axis Capital Markets Limited - Joint Broker
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+44 (0) 20 3206 0320 |
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St Brides Partners Limited Susie Geliher / Charlotte Page / Will Turner |
+44 (0) 20 7236 1177 |
ABOUT VAST RESOURCES PLC
Vast Resources plc is a United Kingdom AIM quoted mining company with mines and projects in Romania, Tajikistan, 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 Vast Baita Plai SA which owns 100% of 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 the Company is looking to bring back into production following a period of care and maintenance. The Company has also 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 retains a continued presence in Zimbabwe. The Company is re-engaging its future investment strategy in Zimbabwe and has commenced discussions with further mining concessions in-country alongside its wider portfolio.
Vast has an interest in a joint venture company which provides exposure 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.
Also in Tajikistan, Vast has been contracted to develop and manage the Aprelevka gold mines on behalf of its owner Gulf International Minerals Ltd ("Gulf") under which Vast is entitled, inter alia, to 10% of the earnings that Gulf receives from its 49% interest in Aprelevka in joint venture with the government of Tajikistan. Aprelevka holds four active operational mining licences located along the Tien Shan Belt that extends through Central Asia, currently producing approximately 11,600oz of gold and 116,000 oz of silver per annum. It is the intention of the Company to assist in increasing Aprelevka's production from these four mines closer to the historical peak production rates of approximately 27,000oz of gold and 250,000oz of silver per year from the operational mines.
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