02:00 Wed 07 Oct 2020
Baita Plai Recommences Production
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
Vast Resources plc
(“Vast” or the “Company”)
Baita Plai Recommences Production
Vast Resources plc, the AIM-listed mining company, is pleased to confirm that production has recommenced at its
Following the recommencment of mining, the Company can confirm that daily blasting has been implemented on the mineralised horizon of the Antonio skarn between 17 level and 18 level. The blasted ore is stored underground in both the working place silos and the surface silos. Transport of the ore from the surface silos to the flotation plant silos has commenced in preparation for the hot commissioning of the flotation plant expected to follow shortly.
In addition, the incline project has commenced on 18 level with daily blasts being achieved on the new underground development since
Based on the success of the recommencement of mining activity, the Company can confirm that it is on track to meet its October production and sales targets as outlined in the project production and associated operational cashflow forecasts announced on
Andrew Prelea, Chief Executive Officer, Vast Resources PLC, commented:
“We are delighted that our Baita Plai operation is operational once more. The swift action our team took to reconnect the mine and flotation plant meant that production was able to resume quickly, resulting in minimal downtime and importantly, there is no expected impact on October production and sales targets. With potentially one of the lowest operating costs globally, and significant resource expansion opportunities, Baita Plai has significant commercial potential and we are focussed on realising this inherent value for all stakeholders.”
**ENDS**
For further information, visit www.vastplc.com, follow the Company on Twitter @vast_resources and LinkedIn, or please contact:
Vast Resources plc Andrew Prelea - CEO | www.vastplc.com +44 (0) 20 7846 0974 | |
Roland Cornish | www.beaumontcornish.com +44 (0) 020 7628 3396 | |
SP Angel Corporate Finance LLP – Joint Broker | www.spangel.co.uk +44 (0) 20 3470 0470 | |
Axis Capital Markets Limited – Joint Broker | www.axcap247.com +44 (0) 20 3206 0320 | |
St Brides Partners Limted Susie Geliher | www.stbridespartners.co.uk +44 (0) 20 7236 1177 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).
ABOUT VAST RESOURCES PLC
Vast Resources plc, is a United Kingdom AIM listed mining company with mines and projects in
In
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