https://www.miningweekly.com

Vast Resources raises £600 000

16th April 2020

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Aim-listed Vast Resources has raised £600 000 through a placing of almost 400-million ordinary shares of 0.1p in the company at a price of 0.153p apiece.

The placing was undertaken by Axis Capital Markets, which was appointed as a joint broker to Vast.

The cash raised from the placing will be used to maintain the company’s working capital in light of the anticipated conclusion of the Chiadzwa Community Diamond Concession joint venture (JV), in Zimbabwe, and other costs owing to Covid-19 impacts.

Vast in September 2019 signed a JV agreement with Chiadzwa Mineral Resources, which is a company designated to represent the Chiadzwa community interests in the concession. This resulted in the formation of Katanga Mining.

A further JV agreement between Katanga and the Zimbabwe Consolidated Diamond Company, which is a government entity representing the country in the diamond mining sector, is set to be officially signed.

The Chiadzwa Diamond Fields located in Marange are widely regarded as the richest alluvial diamond deposits in the world.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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