JOHANNESBURG (miningweekly.com) – Vast Resources has raised £1.26-million through a placing of 45.4-million ordinary shares at 0.1p apiece and a subscription of 60-million ordinary shares at 1.2p apiece.
The Aim-listed gold developer sought to provide additional funds to further its mining projects in Romania and also for general corporate purposes.
"We are grateful for the continued investor support, which enables us to continue with the improvements at the Manaila polymetallic mine, which we are now managing and operating, and also provides us with a good foundation to reopen the Baita Bihor polymetallic mine as soon as the licence formalities have been completed, CEO Roy Pitchford commented.
It was expected that admission would become effective and dealing in the placing shares and the subscription shares would start on August 10.
Following admission, the total issued share capital of Vast would be 1.46-billion ordinary shares. Together, the newly issued shares would represent 7.2% of the enlarged share capital of the company.