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Vast places shares to raise cash

2nd November 2018

By: Creamer Media Reporter

     

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Aim-listed Vast Resources has raised £1-million before costs through a placing of 1 88 697 245 shares at 0.53p each, the Romania- and Zimbabwe-focused miner reported on Friday.

The announcement comes days after Vast reported that it had secured the previously indicated investment by an institutional investor, allowing it to retain a 29.41% interest in the Blueberry project, in western Romania.

The institutional investor’s support, together with early investments obtained from individuals, took the funding procured for the gold-focused polymetallic Blueberry project to more than $1-million.

Vast is focused on expanding its presence in Romania and Zimbabwe. In Romania the group is poised to become a first mover in re-establishing large-scale mining operations. In Zimbabwe, in the light of the improved business climate the footprint will be expanded and we anticipate resuscitating abandoned but potentially lucrative opportunities there.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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