REG - Vast Resources PLC - Response to articles published in Zimbabwe

Vast ResourcesAnnouncement

20/12/2021 10:00

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RNS Number : 1933W  Vast Resources PLC  20 December 2021

 

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

 

20 December 2021

Vast Resources plc

("Vast" or the "Company")

 

Response to articles published by the Press in Zimbabwe

 

Vast Resources plc, the AIM-listed mining company, notes the release of
certain articles published by the Zimbabwean online press on 19 December 2021.

 

The Company wishes to state that it has at no stage been contacted or
consulted by the author of the articles and did not make any comment in
relation to these articles and does not agree with the conclusions.

 

Vast Resources PLC and its subsidiaries have been and remain in dialogue with
the highest level of Government in Zimbabwe and the Company remains confident
of a successful outcome.

 

The Company looks forward to providing further updates at the appropriate
time.

 

**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

 

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.

 

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.

 

In Botswana, the Company is focused on finalising the acquisition of the
Ghaghoo Diamond Mine, which will be conducted through a joint venture between
the Company and Botswana Diamonds plc and will provide the Company with a 90%
interest in a high quality and previously producing diamond asset benefiting
from world-class infrastructure and capable of generating material revenues in
the near term.

 

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