December 10 (SeeNews) - UK-based Vast Resources said on Thursday that it expects to conclude the second commercial sale of copper concentrate from its Baita Plai polymetallic mine in Romania by the end of December.
Vast has already received the cash proceeds from the first commercial sale of copper concentrate from Baita Plai to energy and commodity trading company Mercuria, it said in a press release.
The company added that it will not be reporting sales on a
monthly basis in 2021 but will outline its sales and production
reporting plans in due course.
On Wednesday, Vast said that it has raised £4.84 million ($6.5 million/5.3 million euro) through a placing of ordinary shares in the company in order to satisfy an equity requirement for debt financing linked to Baita Plai mine.
Vast Resources plc is a United Kingdom AIM listed mining company with mines and projects in Romania and Zimbabwe. The company’s Romanian portfolio includes an 100% interest in the Baita Plai polymetallic mine and the Manaila polymetallic mine, which was commissioned in 2015 and is currently on care and maintenance.
(GBP=1.1096 euro)