https://www.miningweekly.com
Copper|Gold|Mining|PROJECT|Resources|Operations
Copper|Gold|Mining|PROJECT|Resources|Operations
copper|gold|mining|project|resources|operations

Vast finalising $13.5m financing facility

8th October 2019

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Aim-listed mining company Vast Resources is in the process of finalising the documentation for a $13.5-million financing facility, it said on Tuesday.

In an update to the market, the company said that a further announcement would be made “shortly”.

Vast traded 4% higher at 0.35p a share by 9:30 in London.

The company has to refinance its Baita Plai polymetallic operation, in Romania, after Mercuria withdrew $5.5-million in financing for the project at the beginning of the year.

Baita Plai is a 1.8-million-tonne copper/silver/zinc/lead/gold/tungsten/molybdenum orebody, which Vast said could be in operation within three months from the drawdown of financing.

The company has already ordered, purchased, or is implementing the long lead items.

The funding being negotiated will also be sufficient to start diamond mining at the miner’s Chiadzwa Community Concession, in Zimbabwe. Chiadzwa was previously referred to as the Marange diamond fields.

Vast last week raised just more than £1.8-million, before costs, through the issue of 902.5-million ordinary shares at 0.20p a share for the establishment of the operations in Zimbabwe.

Edited by Creamer Media Reporter

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.137s - 94pq - 2rq
Subscribe Now