Vast Baita Plai SA
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
4 April 2025
Vast Resources plc('Vast' or the 'Company')
Vast Baita Plai SA
Vast Resources plc, the AIM-listed mining company, is pleased to announce that the court hearing on the Vast Baita Plai SA voluntary reorganisation scheduled for 3 April 2025 has duly taken place and proceeded without any new issues being raised.
The Judicial Administrator presented the mandatory report regarding the Company's activity. The court took note, approved the report, and set a new hearing for continuing the observation period of 25 September 2025.
**ENDS**
For further information, visit www.vastplc.com or please contact:
Vast Resources plcAndrew Prelea (CEO)
www.vastplc.com+44 (0) 20 7846 0974
Beaumont Cornish – Financial & Nominated AdvisorRoland CornishJames Biddle
www.beaumontcornish.com+44 (0) 20 7628 3396
Shore Capital Stockbrokers Limited – Joint Broker Toby Gibbs / James Thomas (Corporate Advisory)
www.shorecapmarkets.co.uk+44 (0) 20 7408 4050
Axis Capital Markets Limited – Joint Broker Richard Hutchinson
www.axcap247.com+44 (0) 20 3206 0320
St Brides Partners LimitedSusie Geliher
www.stbridespartners.co.uk+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, 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.
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.
Nominated Adviser Beaumont Cornish Limited ('Beaumont Cornish') is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
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