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Vast Resources production report for its Romania Manaila Polymetallic mine

Continued progress towards obtaining mining sub-licence for Baita Plai Polymetallic Mine in accordance with Romanian due process post-merger – grant of mining-licence will allow for commissioning of the Company’s third mine reports Vast Resources plc, the AIM listed mining company with operations in Romania and Zimbabwe.

This first quarterly production report is another milestone in the journey of Vast’s development into a mining and production company, following commissioning of the Manaila Polymetallic Mine in August 2015.

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Operationally the two mines have achieved break even status during the first reported production quarter.  Costs and efficiencies are improving and as always in mining projects, further improvements are possible and management in both Romania and Zimbabwe are focussed on reducing costs and improving mining and processing efficiencies.

At MPM the mining rate averaged in excess of 11,200 tonnes of ore per month.  During the quarter the existing operational mill was still ramping up to its design capacity of 10,000 tonnes per month and has undergone a full refurbishment, including new liners.  The second mill, currently non-operational, is being refurbished and is expected to be in production from April 2016 onwards.   With both mills operational, the mine will have an installed milling capacity of 20,000 tonnes per month.

In conjunction with the increased processing capacity, a second flotation line is being installed enabling MPM to produce separate copper and lead/zinc concentrates.  Metallurgical testwork undertaken by the Company indicates that the second flotation circuit will increase plant recoveries resulting in higher-grade concentrates.  In addition to the improved grade, moving away from a bulk concentrate will increase the marketing flexibility of the product.

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