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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.

Meanwhile, licence extension documentation regarding the Baita Plai polymetallic mine in Transylvania, Romania, is being finalised so it can be submitted before the deadline which is next week Sunday. Finally, Vast Resources says production at its project in Tajikistan was stopped during the winter due to extreme cold weather, but mining restarted in early March.

Current stock price: 0.34 pence per share, up 3.1% on Friday afternoon in London

12-month change: down 48%

By Tom Budszus, Alliance News slot editor

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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