https://www.miningweekly.com
Aggregate|PROJECT|Resources|Drilling
Aggregate|PROJECT|Resources|Drilling
aggregate|project|resources|drilling

Vast raises more than £900 000 to advance Baita Plai

18th May 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Aim-listed Vast Resources has raised in aggregate £901 416.66 through a placing and a subscription of ordinary shares in the company.

The placing was undertaken by the company’s joint broker Axis Capital Markets.

The cash raised from the placing and subscription will be applied to provide immediate funding of the costs of accelerating and expanding the company’s drilling and metallurgical test work process at the Baita Plai polymetallic project in Romania, and for general working capital.

Application has been made to Aim for the placing and subscription shares to be admitted to trading in two tranches.

The placing and subscription is conditional on admission.

“As a consequence of the recently released metallurgical test results, the board and management felt that it was prudent to accelerate further test work and reports on the Baita Plai project to enhance its value for the refinancing opportunity.

With the newly commissioned reports, expanded drilling and accelerated test work, the intention is to achieve a greater asset value to shareholders, in turn, providing better long-term shareholder value,” comments Vast CEO Andrew Prelea.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 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:0.25 0.283s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: