EXPLORATION & DEVELOPMENT

Vast gets Baita Plai green light

Vast Resources (AIM:VAST) has finally received the right to mine at the Baita Plai polymetallic mine in Romania.

Staff reporter
With the right to mine granted, Vast is on track to start mining activities at Baita Plai in H1 2019

With the right to mine granted, Vast is on track to start mining activities at Baita Plai in H1 2019

It received approval from Romania's National Agency for Mineral Resources (ANRM) last week for the association licence applied for in August and this week signed a pre-agreed commercial contract with head licence holder Baita SA to gain the right to mine.

CEO Andrew Prelea said, with the commercial association contract executed and the money settled, the company aimed to quickly get a proper re-start team on the ground. 

The company is aiming to start production from Baita Plai in the first half of 2019.

Vast signed an offtake with Mercuria Energy Trading in January for up to 100% of the copper and zinc concentrate produced at its Manaila and Baita Plai projects.

Vast's shares rose 4.17% on the news to 0.62p (US0.82c) Tuesday. 

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