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Vast Resources (VAST) Share News

IN BRIEF: Vast Resources eyes higher revenue after interim fall

10th Feb 2025 14:24

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

IN BRIEF: Vast Resources gets interest-free loan from CEO Prelea

10th Jan 2025 14:29

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

UK shareholder meetings calendar - next 7 days

13th Dec 2024 12:24

UK shareholder meetings calendar - next 7 days

13th Dec 2024 12:24

IN BRIEF: Vast Resources raises GBP750,000 via placing of shares

16th Oct 2024 14:25

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

IN BRIEF: Vast Resources shares fall amid update on outstanding debt

23rd Sep 2024 14:12

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

EARNINGS AND TRADING: Genedrive in FDA boost; Bango revenue rises

15th Jul 2024 19:36

(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

AIM WINNERS & LOSERS: Destiny Pharma falls on plans to go private

15th Jul 2024 10:38

(Alliance News) - The following stocks are the leading risers and fallers on AIM on Monday. Read More

IN BRIEF: Vast Resources hails increase in gold output at Aprelevka

12th Jun 2024 07:01

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

IN BRIEF: Vast Resources puts Baita Plai into voluntary reorganisation

10th Jun 2024 21:49

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

LONDON MARKET CLOSE: Cooling US job market boosts rate cut hopes

4th Jun 2024 16:53

(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

IN BRIEF: Vast Resources shares jump as copper, gold mining ramps up

4th Jun 2024 12:01

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

AIM WINNERS & LOSERS: Vast Resources touts progress across mines

4th Jun 2024 11:24

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday. Read More

CORRECT (May 3): Vast Resources in talks for restructuring finance

22nd May 2024 09:41

(Clarifies that financing discussions are with an unnamed Swiss investment company.) Read More

TRADING UPDATES: Braveheart writes down value of two investments

17th May 2024 18:45

(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

IN BRIEF: Vast Resources in advanced talks for restructuring finance

3rd May 2024 14:19

Vast Resources PLC - mining company with operations in Central Asia, Eastern Europe and Africa - On Monday, noted that debt due to A&T Investments SARL, known as Alpha, is about USD5.5 million, with USD1.5 million due next week Tuesday. A further USD1.5 million will be due to be repaid 60 days from the first repayment. Vast Resources is in advanced discussions with the owner of Swiss investment company Mercuria Energy Trading SA for the provision of major restructuring finance for Vast Resources, including debt owed to Alpha. Vast owes Mercuria around USD3.9 million, with Mercuria confirming a further extension. Read More

IN BRIEF: Vast inks offtake deal with Trafigura for Baita Plai copper

13th Mar 2024 14:23

Vast Resources PLC - Mining company with operations in Central Asia, Eastern Europe and Africa - Signs new exclusive offtake agreement with Trafigura Group Pte for copper concentrate produced at its Baita Plai mine in Transylvania. Trafigura is a Singapore-headquartered commodity trading company focused on base metals and energy commodities. The pair previously signed an offtake agreement for Vast's Takob mine in Tajikistan. The latest deal will be in place until June 2025. Vast says that copper concentrate production has been ramping up at Baita Plai, increasing 24% between the fourth quarter of 2022 and 2023, and that recent refurbishments will result in an improvement to the grade of concentrate produced at the mine. Read More

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