Vast Resources commences production at Baita Plai polymetallic mine
Vast Resources PLC (LON:VAST) has confirmed that production has recommenced at its Baita Plai polymetallic mine in Romania and that it is on track to meet its October production and sales targets.
The AIM-listed mining company said that following the recommencement of mining, daily blasting has been implemented on the mineralised horizon of the Antonio skarn between 17 level and 18 level.
It added that the blasted ore is stored underground in both the working place silos and the surface silos. Transport of the ore from the surface silos to the flotation plant silos has commenced in preparation for the hot commissioning of the flotation plant expected to follow shortly, the group said.
In addition, Vast said the incline project has commenced on 18 level with daily blasts being achieved on the new underground development since 1 October 2020 according to plan. The incline is designed to provide access to the continuation of the Antonio skarn from 18 level down to 19 level and will provide a production base for the next four years.
Based on the success of the recommencement of mining activity, the company said it can confirm that it is on track to meet its October production and sales targets as outlined in the project production and associated operational cashflow forecasts announced on September 7, 2020.
In a statement, Andrew Prelea, Vast’s chief executive officer commented: “We are delighted that our Baita Plai operation is operational once more. The swift action our team took to reconnect the mine and flotation plant meant that production was able to resume quickly, resulting in minimal downtime and importantly, there is no expected impact on October production and sales targets.
“With potentially one of the lowest operating costs globally, and significant resource expansion opportunities, Baita Plai has significant commercial potential and we are focussed on realising this inherent value for all stakeholders.”
About Vast Resources
Vast Resources is focussed on the rapid transformation from an exploration company to a mining company and delivering multiple revenue streams. This will be driven by the advancement of its two primary value drivers, the Baita Plai Polymetallic Mine in Romania, and the Chiadzwa Community Concession in Zimbabwe, into near term production.
Vast was once a shareholder of gold producing Pickstone Peerless mine in Chegutu.