November 10 (SeeNews) - UK-based Vast Resources said on Wednesday that it has completed a new sale of copper concentrate from its Baita Plai polymetallic mine in Romania.
The next production and sales volume report will be made in January 2022 in respect of the quarter ended December 31, Vast Resources said in an update regarding Baita Plai mine.
Vast sold this latest batch of copper concentrate to energy and commodity trading company Mercuria, its offtake partner, according to an earlier announcement issued in October.
Vast Resources said in October it expects the Baita Plai mine to bring $78 million (67 million euro) in net revenue in three years, while EBITDA are expected to be negative $8.67 million during the 12 months that would end on April 20, 2022, before a turnaround to a positive EBITDA of $45 million in the following two years.
($=0.8627 euro)