Manaila Extension (Carlibaba) Finance Update and Effect on

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
50
Manaila Extension (Carlibaba) Finance Update and Effect on possible strategic investment of up to US$10 million

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

6 October 2017 Vast Resources plc ("Vast" or "the Company")

Manaila Extension (Carlibaba) Finance Update Effect on possible strategic investment of up to US$10 million

Vast Resources plc, the AIM-listed mining company with operations in Romania and Zimbabwe, is pleased to advise shareholders that as a result of the consistently positive results delivered from the drilling and development programme at the Carlibaba Deposit ('Carlibaba') located adjacent to the Company's producing Manaila Polymetallic Mine in Romania ('Manaila'), coupled with the 2018 off-take bidding process for the concentrate production, Vast has been presented with a number of potential non-dilutionary financing options to advance its Romanian interests.  As such, the Company is in discussions with metal traders and debt providers to finance the new metallurgical complex planned for Manaila and in particular to cater for the extended mine life that the scheduled new open pit at Carlibaba provides.

The drilling results to date at Carlibaba support the potential for a considerable extension to life of mine at Manaila which has enabled Vast to obtain medium term financing possibilities for Sinarom Mining Group, the Company's 100% owned subsidiary, to facilitate the construction and commissioning of the new metallurgical complex.  Internal Company estimates have highlighted that the new metallurgical complex could result in a saving of up to 25% on the current production costs by eliminating the transport of ore and waste between the mine, the Iacobeni metallurgical complex, and the current tailings facility.

The possible introduction of a debt facility will reduce the Company's requirement from the potential strategic investors referred to in the Company's announcements of 24 July 2017 and 25 September 2017 or of any other potential incoming partner at the subsidiary level by almost 50% of the US$10 million in the Directors' estimation. This would grant management the opportunity to reconsider the current financing proposals to the Company and retain a greater proportion of the Group's assets in Romania.

The Company will update the market with further information in due course.

**ENDS**

For further information, visit www.vastresourcesplc.com or please contact:

Vast Resources plc Roy Pitchford (Chief Executive Officer) www.vastresourcesplc.com +44 (0) 20 7236 1177  
Beaumont Cornish - Financial & Nominated Adviser  Roland Cornish  James Biddle   www.beaumontcornish.com +44 (0) 020 7628 3396
Brandon Hill Capital Ltd - Joint Broker Jonathan Evans   www.brandonhillcapital.com +44 (0) 20 3463 5016
Peterhouse Corporate Finance Ltd - Joint Broker  Duncan Vasey www.pcorpfin.com  +44 (0) 20 7469 0936  
St Brides Partners Ltd Susie Geliher Charlotte Page www.stbridespartners.co.uk  +44 (0) 20 7236 1177

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Testing Grounds: Navigating PRN Test Insights

Updated Category News Views 1

Deciphering the PRN Tester Repetition Today we're staring at what feels like déjà vu—a simple PR test peppered with the classic sentence about a fox and a dog. It's like someone left the 'repeat' function stuck on during a slow day at the office. But hey, let’s dig in. Is there something more behind this repetitive text, or are we grumbling at a wall? Unpacking the...

Continue Reading
TECNO's Modular Phone and Mini-PC Win Big at IFA 2026

Updated Category News Views 1

The Tale of Two Game-Changers TECNO has just scooped up two big-time awards, and I'm here to break it down like no glossy magazine ever could. Picture this: a brand that knows how to keep its foot on the innovation pedal and doesn't shy away from shaking up the tech world. TECNO's got the goods, claiming two prestigious IFA Global Product Technology Innovation Awards this...

Continue Reading
HKC and KOORUI Shine Bright at 2026 Berlin Awards

Updated Category News Views 3

Display Titans Take Center Stage in Berlin Look, in this game of display tech, you either adapt or get left in the dust. At the 2026 Global Product Technology Innovation Awards in Berlin, we saw two names rise to the top—HKC and its acclaimed brand KOORUI. They didn't just show up; they grabbed the spotlight with two major honors. Award Spotlights: A Breakdown HKC took...

Continue Reading
Signant and Lothar Forge Future in Clinical Trials

Updated Category News Views 2

Breathing New Life into Clinical Trials Alright, folks, listen up. We've got a fresh collaboration cooking that could shake things up in the clinical trial sector. Signant Health, a heavyweight in clinical trial solutions, has teamed up with Lothar Medical, and they’ve hitched their wagons to launch something rather intriguing: the ALDS PRO pulmonary function tech. Let...

Continue Reading
LiberNovo Spotlights Ergonomic Seating at Berlin's IFA 2026

Updated Category News Views 1

LiberNovo Sets the Stage at IFA 2026 If you're poking around Berlin this September, the Messe Berlin is the place to be, especially for those keeping tabs on the consumer tech world. LiberNovo, the ergonomic seating company you might not have had on your radar, is out here making noise. They're throwing down the gauntlet with the Maxis Series, promising a better deal for...

Continue Reading
Affleck Joins Aflac in Unlikely Yet Fitting Alliance

Updated Category News Views 2

A Partnership Born from a Punning Connection Look, in this world of insurance and Hollywood glitz, it's not every day you see Ben Affleck sharing the screen with a talking duck. But here we are. Aflac—the giant in supplemental health insurance—and Ben Affleck have cozied up for a series of ads under Affleck’s direction, breathing life into what started as nothing...

Continue Reading
Hims & Hers Faces Legal Storm Over Alleged Privacy Breaches

Updated Category News Views 4

Legal Storms Brew Over Alleged Privacy Breaches Well, here we go again, folks. Just when you think the waters are calming, Hims & Hers Health, Inc. (NYSE: HIMS) finds itself in the thick of a nasty securities fraud class action lawsuit. Allegedly they've been less than honest with their customers' health info—something about sneaking around with people's sensitive data...

Continue Reading
Evolve & ELITEWHEELS: Shifting Gears in European Cycling

Updated Category News Views 3

Revving Up for the European Cycling Scene There's something about the open road and the whirr of wheels that gets blood pumping—maybe it's the competition, maybe it's the gear. Either way, this year's Italian Bike Festival is turning the Misano World Circuit into a battleground for cycling's elite, with evolve and ELITEWHEELS charging at the forefront. They're not just...

Continue Reading
Virterion Surges Ahead in VPS Racing With Reliable Hosting

Updated Category News Views 3

Why Virterion Stands Out in 2026 VPS Landscape For anyone knee-deep in the hosting game, you know the market's got more players than a late-night poker round. Virterion, though—that's a name carving out a noticeable niche, and for solid reasons. In 2026, the backdrop's not just speed, it’s about matching technology and support with what ambitious developers need. VPS...

Continue Reading
Roborock Fuels Market Surge with 27.6% Revenue Boost

Updated Category News Views 1

Roborock's Rocket-Like Ascent in Global Markets Call me impressed, but Roborock is really hitting its stride. The company's been on a tear, pulling in RMB 10.084 billion during the first half of 2026—a remarkable 27.6% bump from last year. Not just content with the revenue surge, they also saw net profits jump 45.6%, making it pretty clear that they're not just playing...

Continue Reading

Top 5 Most Recently Viewed Articles

Talisker Resources Successfully Closes Gold-Linked Note Deal

Updated Category News Views 49

Talisker Resources Announces Successful Financing Initiative Talisker Resources Ltd. (TSK) has made headlines with the completion of its latest financing venture involving $1.33 million through the issuance of gold-linked notes. This strategic move is set to propel the progress of Talisker's flagship project, the Bralorne Gold Project, which is currently undergoing...

Continue Reading
FDA Approves Novartis' Kisqali, Expanding Breast Cancer Treatment

Updated Category News Views 133

FDA Approves Novartis' Kisqali: A Major Step Forward in Breast Cancer Care Novartis (NYSE: NVS) has reached a crucial milestone with the FDA's approval of Kisqali (ribociclib), now available for a broader group of patients facing early-stage breast cancer. This approval represents a significant leap in treating hormone receptor-positive/human epidermal growth factor...

Continue Reading
Mounting Challenges for Mobileye N.V: Insights into Stock Outlook

Updated Category News Views 101

Mobileye Faces Downgrade as Transition Year Approaches Recently, UBS has revised its outlook on Mobileye N.V (NASDAQ:MBLY), a leader in autonomous driving technologies. The firm has downgraded the stock from Buy to Neutral, with a lowered price target of $14.00, decreasing from an earlier target of $20.00. This decision is primarily due to the company's current struggles,...

Continue Reading
Plans for Spending Cuts and Subsidy Eliminations Revealed

Updated Category News Views 118

Plans for Federal Spending Cuts and Subsidy Eliminations John Paulson, a billionaire investor known for his connections with former President Donald Trump, has outlined his strategy for significant federal spending reductions if he were to be appointed as Treasury Secretary. Collaborating with Elon Musk, Paulson seeks to minimize government expenditures, particularly by...

Continue Reading
Brazil’s Finance Minister Prepares for Key Fiscal Announcements

Updated Category News Views 35

Brazil's Finance Minister Prepares for Key Fiscal Announcements Brazil's Finance Minister Fernando Haddad has recently indicated that significant fiscal measures aimed at supporting the country’s financial framework might be unveiled shortly. This announcement comes as the government approaches the final stages of preparation for what could be a pivotal moment in...

Continue Reading