Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
20 December 2024
Vast Resources plc
("Vast" or the "Company")
Results of Annual General Meeting
Vast Resources plc, the AIM-listed mining company, is pleased to announce that at the Company's Annual General Meeting held earlier today the proposed resolutions were all duly passed with proxy voting as follows:
- Resolution 1: 96.49%
- Resolution 2: 86.72%
- Resolution 3: 84.38%
- Resolution 4: 92.18%
- Resolution 5: 87.29%
- Resolution 6: 84.37%
- Resolution 7: 84.29%
- Resolution 8: 84.29%
- Resolution 9: 84.30%
- Resolution 10: 84.30%
**ENDS**
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc Andrew Prelea (CEO) | 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.
Vast has also been contractually appointed to manage and develop the Aprelevka Gold Mines located along the Tien Shan Belt that extends through Central Asia, producing at the time of appointment approximately 11,600 oz of gold and 116,000 oz of silver per annum. It is the intention to increase production closer to historical peak production of 27,000 oz gold and 250,000 oz silver. Vast is entitled to a 4.9% effective interest in the mines with the option to acquire equity in the future.
The Company retains a continued presence in Zimbabwe in respect of the Historic claims.
Nominated Adviser Statement
Beaumont Cornish Limited ("Beaumont Cornish"), is the Company's Nominated Adviser and is authorised and regulated in the United Kingdom by the Financial Conduct Authority. 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 the announcement or any matter referred to in it.
