REG-Commissioning of low-cost gold mine <Origin Href="QuoteRef">VAST.L</Origin>

Vast ResourcesAnnouncement

20/08/2015 07:00

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
20 August 2015
Vast Resources plc
("Vast" or "the Company")
Commissioning of Plant at Pickstone-Peerless Gold Mine
Vast Resources plc, the AIM-listed resource and development company, is pleased to announce the commissioning of the ball mill and the carbon in leach plant ("CIL plant") at the Pickstone-Peerless Gold Mine (the "Mine"), thus facilitating the start of gold adsorption and marking a further milestone in its transition into a cash generative mining company. The mine is being commissioned with a targeted initial annualised gold production of circa 10,000oz Au from an initial mining rate of 10,000 tonnes of ore per month, from the projects open cast oxide gold cap. The first gold production is targeted for the end of August 2015.
The commencement of mining and the commissioning of the crusher circuit was previously announced on 2 July 2015. 
Roy Pitchford, Chief Executive Officer, commented:
"The commencement of gold production at Pickstone-Peerless Gold Mine in Zimbabwe, following the commencement of production at the Manaila Polymetallic Mine in Romania, will be a further step in the process of transitioning Vast into an operating mining entity. With first gold sales targeted for the end of the month, we will have revenue from two operating mines.
"Whilst the focus will remain in ensuring optimal production levels are achieved at the Pickstone-Peerless Gold Mine and Manaila Polymetallic Mine, more focus is now being placed in bringing the third mine in our portfolio, the Baita Plai (formerly Baita Bihor) Polymetallic Mine, into production. The name change has been necessitated to avoid confusion with the name of the county in which the mine is situated and another mining operation with a similar name.
"Vast retains the objective of having three fully operational mines by the end of 2015, two in Romania and one mine in Zimbabwe."
*** ENDS ***
For further information visit www.vastresourcesplc.com or please contact:


Vast   Resources plc
   Roy Tucker (Finance Director)

   

   

   +44 (0) 1622   816918
   +44 (0) 7920 189012   
   

   Roy Pitchford (Chief Executive Officer)   
   

   +263 (0) 7721   69833
   +40 (0) 7411 11900 
   +44 (0) 7793 909985   


Strand   Hanson Limited - Financial & Nominated Adviser
   James Spinney
   Ritchie Balmer
   James Bellman   


www.strandhanson.co.uk
+44 (0) 20   7409 3494   


Daniel   Stewart and Company plc - Joint Broker
   Martin Lampshire
David Coffman      


www.danielstewart.co.uk
+44 (0) 20   7776 6550   


Dowgate   Capital Stockbrokers Ltd - Joint Broker
Jason Robertson
Neil Badger         


www.dowgatecapitalstockbrokers.co.uk
+44 (0)1293   517744



St Brides   Partners Ltd
   Charlotte Heap
   Hugo de Salis   


www.stbridespartners.co.uk
+44 (0) 20   7236 1177   


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
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
HUG#1946565