(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
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday. Read More
Vast Resources PLC - miner in Romania, Tajikistan and Zimbabwe - Reports higher gold production at Aprelevka gold mines in Tajikistan. Says gold production at the four Aprelevka mines for May rises to 1,059 ounces, up 32% from 805 ounces in April. It is also 14% higher than the 933 ounces of gold estimate the company expected to produce in May. The total average value according to the resource estimate is 5.58 grammes of gold per tonne and 17.25 grammes of silver per tonne. Read More
Vast Resources PLC - miner in Romania, Tajikistan and Zimbabwe - Following a dispute with the unions and certain members of the Baita Plai workforce in Romania, decides to enter Vast Baita Plai SA, the operator of the Baita Plai mine, into a period of voluntary reorganisation. This is to be effected by a court judged process under the insolvency act in Romania. Explains that the reorganisation gives BPSA the opportunity to dismiss, without significant cost, those employees who have been "abusing the system." Vast Resources says this is particularly in respect of taking of medical leave. Also notes certain employees were demanding a reduction in working hours of about 25% and an increase in paid holidays to almost twice that required under national regulations. Stresses the reorganisation affects in no way the ownership or running of the mine, should achieve new efficiencies in working practices, substantial cost savings, and is in the interests of the company and its shareholders as a whole. Read More
(Alliance News) - Stock prices in London closed lower on Tuesday, with New York tracking down, amid some disappointing economic data from the US. Read More
Vast Resources PLC - miner in Romania, Tajikistan and Zimbabwe - Reports that 25,388 tonnes of ore was mined in the first quarter at Baita Plai mine, up 22% from 20,728 tonnes a year prior and 5.0% higher than 24,178 tonnes in the final quarter of 2023. The mine's copper concentrate grade was 20%, versus 23% a year previously but higher than 18% in the fourth quarter of 2023. Baita Plai is located in the Apuseni Mountains, Transylvania. Further, notes "pleasing progress" at the Aprelevka mine in Tajikistan, with gold production at 933 ounces in May, up 16% from 805 ounces in April. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More
(Clarifies that financing discussions are with an unnamed Swiss investment company.) Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More