20th Aug 2015 07:09
LONDON (Alliance News) - Vast Resources PLC shares pushed higher in early trade on Thursday after the company said it has commissioned the ball mill and carbon in leach plant for the Pickstone-Peerless Gold Mine in Zimbabwe.
Vast said this will allow the start of gold absorption and marks a further milestone for the company in transitioning to becoming a cash generative mining company.
The first gold production from the site is being targeted for the end of this month.
"The commencement of gold production at Pickstone-Peerless Gold Mine in Zimbabwe, following the commencement of production at the Manaila Polymetallic Mine in Romania, will be a further step in the process of transitioning Vast into an operating mining entity. With first gold sales targeted for the end of the month, we will have revenue from two operating mines," said Chief Executive Roy Pitchford.
Vast shares were up 12% to 1.40001 pence in early trade, the best performer in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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