REG-Manaila mine: fulfilment of conditions precedent <Origin Href="QuoteRef">VAST.L</Origin>

Vast ResourcesAnnouncement

22/07/2015 07:00

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
22 July 2015
Vast Resources plc
("Vast" or the "Company")
Manaila mine: fulfilment of conditions precedent
Vast Resources plc, the AIM listed resource and development company, is pleased to announce that all the conditions precedent under the sale and purchase agreement (the "SPA") for the acquisition of a 50.1 per cent. interest in Sinarom Mining Group srl ("Sinarom"), the owner of the 1.8Mt polymetallic Manaila mine located in northern Romania ("Manaila"), have now been fulfilled. Accordingly the SPA is now conditional only upon the requirements of Romanian law which provides that any company share sale be gazetted for a period of 30 days before the transfer can be registered at the Romanian Trade Registry ("Registration"). The sale of shares in Sinarom to Vast has already been gazetted and the Company is not aware that there could be any possible valid objection. It is expected that Registration will become effective on or around 20 August 2015.
As announced on 17 July 2015, Vast has already taken over management of Sinarom under a power of attorney and progress towards recommencing production at a rate of approximately 10,000 tonnes per month is well advanced.
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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


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Source: Vast Resources plc via Globenewswire
HUG#1940317