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Appointment of Nominated & Financial Adviser
GlobeNewswire·2025-05-06 06:00

Company Overview - Vast Resources plc is a UK AIM listed mining company with operations in Romania, Tajikistan, and Zimbabwe [5] - The company focuses on advancing high-quality projects and recommencing production at previously operating mines [5] Romanian Operations - The company holds a 100% interest in Vast Baita Plai SA, which owns the Baita Plai Polymetallic Mine, featuring a JORC compliant Reserve & Resource Report indicating an initial production life of approximately 3-4 years with a total mineral resource of 15,695 tonnes copper equivalent and an exploration target of 1.8M-3M tonnes, with plans to confirm an enlarged target of up to 5.8M tonnes [6] - Vast Resources also owns the Manaila Polymetallic Mine, which is being prepared for reactivation after a care and maintenance period, and has received the Manaila Carlibaba Extended Exploitation Licence to explore mineral resources in the larger area [7] Tajikistan Operations - The company has a joint venture providing exposure to the Takob Mine processing facility, which is fully financed and will yield a 12.25% royalty on all sales of non-ferrous concentrate and other metals produced [9] - Vast is contracted to develop and manage the Aprelevka gold mines for Gulf International Minerals Ltd, earning 10% of Gulf's earnings from its 49% interest in Aprelevka, which currently produces approximately 11,600 oz of gold and 116,000 oz of silver annually, with intentions to increase production towards historical peaks of 27,000 oz of gold and 250,000 oz of silver per year [10] Zimbabwe Operations - The company maintains a presence in Zimbabwe and is re-engaging its investment strategy, initiating discussions for further mining concessions [8]