15th Jan 2024 14:05
(Alliance News) - Vast Resources PLC shares fell on Monday, after it said it has concluded legal documentation for an debt repayment extension to January 31.
Vast Resources is a mining and resource development company with interests in Romania, Tajikistan and Zimbabwe.
Shares in the company were down 10% to 0.12 pence each in London on Monday morning. Over the last 12 months the stock is down 33%.
The company updated shareholders on its asset back debt facility from A&T Investments SARL announced in May 2022, as well as debt owed to Mercuria Energy Trading SA relating to tranche A of its prepayment agreement announce in March 2028.
In November, Vast Resources said the debt owed to Mercuria and Alpha was due to be repaid on or before November 30.
Then, in December, the company said it was in discussions with the creditors for a repayment extension.
It has now concluded legal documentation for an extension to January 31 with a further period of one month to February 29.
By Sophie Rose, Alliance News senior reporter
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