Suche
 
Folgen Sie uns auf:

Baita Plai Q3 2023 Production Report

31.10.2023  |  GlobeNewswire

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

31 October 2023

Vast Resources Plc
('Vast' or the 'Company')

Baita Plai Q3 2023 Production Report

Vast Resources Plc, the AIM-listed mining company, is pleased to announce the Q3 2023 production report at its Baita Plai Polymetallic Mine ('Baita Plai') in Romania.

Baita Plai Production:

Below are the production results for Q3 2023 with a comparison to Q2 2023.

Quarterly Report Tons Mined Conc Produced Conc Produced Conc Sold Conc Sold Avg. Conc Grade Cu Conc Inventory at end of Quarter
WMT DMT WMT DMT DMT
Q2 2023 23,372 514 468 349 316 21% 393
July 9,059 228 209 21% 602
August 8,892 248 230 192 173 20% 659
September 7,649 133 120 198 181 21% 598
Q3 Total 25,600 609 559 390 354 21% 598

Baita Plai Drilling:

As previously announced the Company continues an extensive exploration programme which continues to confirm the potential to extend the mining area and establish a revised JORC compliant Mineral Resource and in due course an Ore Reserve for its licence renewal in August 2024.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources Plc
Andrew Prelea (CEO)
Andrew Hall (CCO)

www.vastplc.com
+44 (0) 20 7846 0974
Beaumont Cornish - Financial & Nominated Advisor
Roland Cornish
James 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 Limited
Susie 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.

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. Processing of stockpiled ore on site is expected to commence in mid-2022.

GLOSSARY

Dry Metric Tonnes (DMT) Refers to the tonnage minus humidity to determine sales price
Grade The relative quantity or percentage of ore mineral content in an orebody.
Ore The naturally occurring material from which a mineral(s) can be extracted at a reasonable profit.
Orebody A continuous well-defined mass of material to sufficient ore content to make extraction economically feasible.
Skarn Lime-bearing siliceous rock produced by the metamorphic alteration of limestone or dolomite
Wet Metric Tonnes (WMT) Usually quoted in terms of production for shipping terms

Competent Person
The forward-looking technical views made in this announcement is based on information interpreted by Mr Nicolae Turdean, the Our Romanian Country Manager and a full-time employee of the Company. Mr Nicolae Turdean is a Qualified Person who is a Member in good standing of the:

  • Romanian National Association of Specialists in Mining Industry
  • General Association of Romanian Engineers
  • Romanian National Committee of Mining Engineers

Nicolae has 40 years' experience in the Romanian mining industry. He was most recently President of the National Agency for Mineral Resources. Prior to this, Nicolae was the Chief Executive of Cupru Min SA, the Romanian state-owned copper producer. Nicolae has worked closely with the Ministry of Economy and Commerce, the Minister of Economy and Finance, and the World Bank, as well as serving on the Board of Administration for a number of companies. Nicolae holds both a Bachelor of Mining Science and a MSc. in the Management of Mining Activities from the Technical University of Petrosani in Romania.



Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Vast Resources Plc
Bergbau
A3CMPP
GB00BMD68046
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"