3rd Mar 2020 14:19
Chiadzwa Community Diamond Project Update
Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
3 March 2020
Vast Resources plc (“Vast” or the “Company”)
Chiadzwa Community Diamond Project Update
Vast Resources plc, the AIM-listed mining company, is pleased to update the market on progress on the anticipated Joint Venture Agreement between the Company’s majority owned Katanga Mining Pvt Ltd (a joint venture company between the Company and the Chiadzwa Community Development Trust (CCDT)) and Zimbabwe Consolidated Diamond Company (Pvt) Ltd (wholly owned by the Government of Zimbabwe) concerning the Chiadzwa Community Diamond Project.
The Company has received official communication from the Ministry of Mines and Mining Development to the effect that all internal processes leading to the conclusion of the Joint Venture are expected to be finalised during the month of March 2020.
Further details pertaining to this key process will be communicated to the market as and when they occur.
**ENDS**
For further information, visit www.vastplc.com or please contact:
| Vast Resources plc Andrew Prelea (Chief Executive Officer)Andrew Hall | www.vastplc.com +44 (0) 1491 615 232 |
| Beaumont Cornish - Financial & Nominated Adviser Roland Cornish James Biddle | www.beaumontcornish.com +44 (0) 020 7628 3396 |
| SP Angel Corporate Finance LLP – Broker Richard Morrison Caroline Rowe | www.spangel.co.uk +44 (0) 20 3470 0470 |
| Blytheweigh Tim Blythe Megan Ray | www.blytheweigh.com +44 (0) 20 7138 3204 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).
ABOUT VAST RESOURCES PLCVast Resources plc, is an AIM listed mining company with mining and exploration interests in Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is now currently underway towards developing and recommissioning the mine and the Community Concession Block in Chiadzwa, Zimbabwe.
Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance.
Related Shares:
Vast Resources