(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News: Read More
(Alliance News) - Vast Resources PLC on Monday said it has agreed a conditional deal to acquire Gulf International Minerals Ltd in a reverse takeover, triggering the suspension of its shares on AIM. Read More
Vast Resources PLC - copper and polymetallic miner in Romania, Tajikistan, and Zimbabwe - Says on Monday it was "encouraged" by an initial diamond tender process which involved 123,711.8 carats of lower value gem sold at average USD6.87 per carat. This left a remaining parcel of gem-quality stones totalling approximately 135,139.47 carats, which were not included in the tender. References to the quality of stones are indicative only, the company says. Read More
Vast Resources PLC - copper and polymetallic miner in Romania, Tajikistan, and Zimbabwe. - Vast says it has "no current intention" to conduct an equity raise to satisfy a debt repayment due on December 31. The comment comes as part of response by Vast to questions from shareholders to the company and posted on investor foruwhichms. Vast Resources had USD12.0 million in debt as of its most recent financial year-end on April 30. One of its lenders started a process to enforce the security given to it by a Vast shareholder. Back in October, Vast raised GBP2.0 million from the placing of 1.11 billion shares at 0.18p. The fresh equity was used to repay USD1 million in debt, as well as for work to resuming operations at the Baita Plai mine and reopening the Manaila mine, both in Romania. On Tuesday, it says that, "assuming the right sales conditions", the proceeds from the sale of a diamond parcel alone will be sufficient to repay its outstanding debt. Otherwise, it will draw upon "alternative funding measures", though not an equity placing. The parcel includes 126,677 carats of stones. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Tuesday. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Thursday. Read More
Vast Resources PLC - London-based miner in Romania, Tajikistan and Zimbabwe - Updates on operating sites in Romania. Says initial public and private tenders of the diamond parcels are planned to begin this month and continue through October. Continues to work with specialist consultants to further develop new cleaning and sorting processes specific to eluvial stones, which it says require several layers of cleaning and preparation to maximise their value at tender. This five-stage cleaning process has greatly improved the value of the parcels, adds. However, "in opting to follow this route to sale...the cost of achieving materially improved financial recoveries requires additional time to process the stones thoroughly". Read More
(Alliance News) - Vast Resources PLC on Monday said it has made progress in preparing diamond parcels for sale, following a detailed beneficiation process to enhance the value of stones recovered under a historic settlement. Read More
Kadoma Mining PLC - London-based gold miner in Africa - Hires Brian Moritz as its new chair. Moritz was previously chair of African Platinum PLC until its GBP300 million acquisition by Impala Platinum Holdings Ltd, and also was chair at Goldplat PLC. He currently serves as chair of Vast Resources PLC and non-executive director at Keras Resources PLC, where he also formerly served as chair. Read More
(Alliance News) - Vast Resources PLC on Friday reported the release of its historical diamond parcel in Zimbabwe. Read More
(Alliance News) - London's FTSE 100 was broadly flat at the market open on Friday, following a soft UK retail sales reading and ahead of a meeting in Washington in which the UK chancellor hopes to negotiate a potential US-UK trade deal. Read More
Vast Resources PLC - London-based miner in Romania, Tajikistan and Zimbabwe - Says a court hearing on the voluntary reorganisation of Vasta Baita Plai SA, the operator of the Baita Plai mine in Romania, took place without any new issues being raised. In June 2024, the company said the reorganisation gives BPSA the opportunity to dismiss, without significant cost, those employees who have been "abusing the system", after a dispute with the unions and certain members of the workforce in Romania. Says the court took note, approved the report and set a new hearing for continuing the observation period of September 25. Read More
Vast Resources PLC - London-based mining and resource development company - On January 31, reports pretax loss narrowed to USD3.3 million in the six months to October 31, from USD6.2 million a year prior. Revenue falls to USD211,000 from USD1.8 million. Cost of sales decrease sharply to USD1.2 million from USD3.0 million, while overhead expenses come down to USD1.7 million from USD3.8 million. Vast Resources highlights that full production has started at the Takob joint venture project in Tajikistan, but the first delivery to final destination has been delayed due to weather related conditions. Looking ahead, the company says it anticipates an improved second half of the financial year with "significantly" stronger revenue. Read More
Vast Resources PLC - London-based mining and resource development company - Accepts interest-free, unsecured loan of EUR500,000 from Chief Executive Officer Andrew Prelea. The loan is repayable when the company finalises funding and can afford to do so. The loan will be applied towards the company's general working requirements. Read More
Vast Resources PLC - London-based mining and resource development company - Raises GBP750,000 from placing of 750.0 million shares at 0.1 pence each. The offer price represents a 19.3% discount to the five-day volume weighted average price, Vast Resources notes. Vast Resources says it will use the cash raised from the placing to maintain the business in compliance with the reorganisation plan at Baita Plai. The placing is run by Axis Capital Markets Ltd. Read More
Vast Resources PLC - miner in Romania, Tajikistan and Zimbabwe - Notes that A&T Investments SARL, known as Alpha and to which it owes debt of USD5.8 million, will start enforcement procedures of the security given to Alpha by a third party, if the debt is not repaid by Thursday. Vast notes that the third party has confirmed that it does not intend to take any action against Vast, should Alpha start any enforcement action. The unnamed third party is a shareholder in Vast, which highlights that there will be no immediate effect on the company if Alpha starts enforcement action against the third party. Vast explains it has started alternative measures for settling the outstanding debts. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More