REG - Vast Resources PLC - Delisting of Convertible Bonds from TISE

Vast ResourcesAnnouncement

16/05/2022 14:45

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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                                    www.vastplc.com

Andrew Prelea (CEO)                                  +44 (0) 20 7846 0974

 Andrew Hall (CCO)

 Beaumont Cornish - Financial & Nominated Advisor      www.beaumontcornish.com (http://www.beaumontcornish.com)

 Roland Cornish                                        +44 (0) 20 7628 3396

 James Biddle

 Shore Capital Stockbrokers Limited  - Joint Broker    www.shorecapmarkets.co.uk

                                                      +44 (0) 20 7408 4050
 Toby Gibbs / James Thomas (Corporate Advisory)

 Axis Capital Markets Limited - Joint Broker           www.axcap247.com
 Kamran Hussain                                         +44 (0) 20 3206 0320

 St Brides Partners Limited                            www.stbridespartners.co.uk (http://www.stbridespartners.co.uk)

 Susie Geliher                                         +44 (0) 20 7236 1177

 Charlotte Page

 

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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