1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. Vast Resources plc
  6. News
  7. Summary
    VAST   GB00BMD68046

VAST RESOURCES PLC

(VAST)
  Report
Delayed London Stock Exchange  -  11:36 2022-06-24 am EDT
0.8570 GBX   -4.78%
06/23Holding(s) in Company
GL
06/20Energy Crisis Highlights Urgency of Accelerating Investment in Affordable, Clean Energy in Africa, IEA Reports
MT
06/16Holding(s) in Company
GL
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Update regarding Atlas Special Opportunities LLC

05/24/2022 | 07:34am EDT

Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining

24 May 2022

Vast Resources plc
(“Vast” or the “Company”)

Update regarding Atlas Special Opportunities LLC

Vast Resources plc, the AIM-listed producing mining company, announces that further to the announcement made today regarding the issued conversion notice by Atlas Special Opportunties LLC (“Atlas”) of USD 800,000, the Company has received the monies and can now confirm that it will satisfy the exercise of the Conversion Rights through the issue of 241,799,020 ordinary shares of 0.1 pence each in the Company (‘Ordinary Shares’) at a price of 0.27 pence per Ordinary Share. Following this conversion, Atlas no longer has any conversion or any right to call for the issue of Vast ordinary shares and Vast has no further financial obligations in respect to Atlas.

Application will be made to the London Stock Exchange for 241,799,020 new Ordinary Shares to be admitted to trading on the AIM Market with admission expected to occur on or around 31 May 2022 (‘Admission’). The issued new Ordinary Shares will rank pari passu in all respects with existing Ordinary Shares.

Following Admission of the new Ordinary Shares the issued ordinary share capital of Vast will consist of 1,002,311,163 Ordinary Shares. There are no Ordinary Shares held in treasury. 1,002,311,163 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change in their interest in, the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

**ENDS**

For further information, visit www.vastplc.com or please contact:

Vast Resources plc
Andrew Prelea (CEO)
Andrew Hall (CCO)

www.vastplc.com
+44 (0) 20 7846 0974
Beaumont Cornish – Financial & Nominated Advisor
Roland Cornish
James Biddle

www.beaumontcornish.com
+44 (0) 20 7628 3396
Shore Capital Stockbrokers Limited Joint Broker
Toby Gibbs / James Thomas (Corporate Advisory)

www.shorecapmarkets.co.uk
 +44 (0) 20 7408 4050
Axis Capital Markets LimitedJoint Broker
Kamran Hussain

www.axcap247.com
 +44 (0) 20 3206 0320
St Brides Partners Limited
Susie Geliher
Charlotte Page
www.stbridespartners.co.uk
+44 (0) 20 7236 1177

ABOUT VAST RESOURCES PLC

Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe.

In Romania, the Company is focused on the rapid advancement of high-quality projects by recommencing production at previously producing mines.

The Company's Romanian portfolio includes 100% interest in the producing Baita Plai Polymetallic Mine, located in the Apuseni Mountains, Transylvania, an area which hosts Romania's largest polymetallic mines. The mine has a JORC compliant Reserve & Resource Report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The Company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.

The Company also owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance. The Company has been granted the Manaila Carlibaba Extended Exploitation Licence that will allow the Company to re-examine the exploitation of the mineral resources within the larger Manaila Carlibaba licence area.

The Company has also acquired an interest in a joint venture company which provides expsoure to a near term revenue opportunity from the Takob Mine processing facility in Tajikistan. The Takob Mine opportunity, which is 100% financed, will provide Vast with a 12.25 percent royalty over all sales of non-ferrous concentrate and any other metals produced. Processing of stockpiled ore on site is expected to commence in Q2 2022.

In Zimbabwe, the Company is focused on the commencement of the joint venture mining agreement on the Community Diamond Concession, Chiadzwa, in the Marange Diamond Fields.



All news about VAST RESOURCES PLC
06/23Holding(s) in Company
GL
06/20Energy Crisis Highlights Urgency of Accelerating Investment in Affordable, Clean Energy..
MT
06/16Holding(s) in Company
GL
06/16Holding(s) in Company
GL
06/16Holding(s) in Company
GL
06/14Holding(s) in Company
GL
06/13Second Mantis Jumbo Drill Rig on-site at Baita Plai
GL
06/13Second Mantis Jumbo Drill Rig on-site at Baita Plai
AQ
06/13Vast Resources plc Announces Second Mantis Jumbo Drill Rig on-site at Baita Plai
CI
06/12VAST RESOURCES : Open Joint Stock Company “TALCO” presentation
PU
More news
Financials
Sales 2021 0,90  - -
Net income 2021 -7,76 M - -
Net Debt 2021 8,21 M - -
P/E ratio 2021 -1,98x
Yield 2021 -
Capitalization 15,8 M 15,8 M -
EV / Sales 2020 -
EV / Sales 2021 41 013 974x
Nbr of Employees 226
Free-Float 77,0%
Chart VAST RESOURCES PLC
Duration : Period :
Vast Resources plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VAST RESOURCES PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 0
Last Close Price 0,01
Average target price
Spread / Average Target -
Managers and Directors
Andrew Prelea Chief Executive Officer & Director
Paul Fletcher Chief Financial Officer & Director
Brian Michael Moritz Non-Executive Chairman
Craig James Harvey Director, COO & Technical Director
Nicholas Philip Hatch Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
VAST RESOURCES PLC-49.59%16
BHP GROUP LIMITED-3.57%140 775
RIO TINTO PLC1.99%102 530
GLENCORE PLC19.02%71 422
ANGLO AMERICAN PLC1.66%45 753
GRUPO MÉXICO, S.A.B. DE C.V.-5.08%33 153