AFCR African Con

 
TIDMVAST 
 
 
   Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining 
 
   2 September 2015 
 
   Vast Resources plc 
 
   ("Vast" or "the Company") 
 
   Progress on mining licence: Baita Plai Polymetallic Mine 
 
   Vast Resources plc, the AIM-listed resource and development company, is 
pleased to announce a positive development towards its Romanian 
subsidiary, African Consolidated Resources SRL ("Vast Romania"), 
obtaining the right to mine (an "Association") at the Baita Plai 
Polymetallic Mine in Romania. 
 
   It was announced on 26 August 2015 that miners at Baita Plai 
Polymetallic Mine had started a sit-in demonstration underground at the 
mine in support of Vast and in protest at the delay in the grant of an 
Association to Vast Romania from the Romanian State owned company, Baita 
SA. 
 
   The demonstration turned into a hunger strike on 31 August 2015.  This 
precipitated official meetings on 1 September 2015.  Andrew Prelea and 
Gabriela Dobrota, President and General Manager respectively of Vast 
Romania, met firstly with the President of the Romanian National Mining 
Agency ("ANRM") as well as the Secretary of State of Romania (Ministry 
of Economy) and secondly with Mr Mihai Tudose, the Minister of Economy 
for Romania.  The ANRM President stated that all that was necessary to 
enable the issue of the Association to Vast Romania would be processed 
with due expedition.  This was confirmed by the Minister of Economy, who, 
in subsequent conversations with Andrew Prelea and Gabriela Dobrota on 2 
September 2015, committed to arranging a meeting with Vast Romania 
within a week to sign a memorandum to establish the practical steps for 
the implementation of the Association in as short a time as possible. 
The Minister of Economy also published a press release which stated his 
hope for local economic development, the protection of private investors, 
and the creation of an appropriate environment for mining along with 
communication with the Romanian authorities in order to encourage 
successful mining operations. 
 
   As a result of the press release and of the assurances that had been 
given at the respective meetings, the miners have ceased their protest 
action. 
 
   Since these events, the management of Baita SA, who had previously been 
uncooperative, have granted Vast Romania the right to connect directly 
to the electricity network and to take over and manage the underground 
shafts and pumps in preparation for the recommencement of mining 
following the grant of the Association. 
 
   For the record, Vast has now for many months been in a position where it 
has satisfied all the requirements necessary for the grant of the 
Association to Vast Romania. 
 
   Andrew Prelea, President of Vast Romania, said: 
 
   "The personal intervention of the Minister of Economy, Mr Mihai Tudose, 
following the workers' action and the consequent direct dialogue is the 
greatest step forward towards overcoming the delays that Vast has 
encountered in obtaining the right to mine the polymetallics at the 
1.8Mt Baita Plai Polymetallic Mine." 
 
   ** ENDS ** 
 
   For further information visit www.vastresourcesplc.com or please 
contact: 
 
 
 
 
 
  Vast Resources plc                                       +44 (0) 1622 816918 
  Roy Tucker (Finance Director)                            +44 (0) 7920 189012 
 
  Roy Pitchford (Chief Executive Officer)                  +263 (0) 7721 69833 
                                                           +40 (0) 7411 11900 
                                                           +44 (0) 7793 909985 
 
  Strand Hanson Limited - Financial & Nominated Adviser    www.strandhanson.co.uk 
  James Spinney                                            +44 (0) 20 7409 3494 
  James Bellman 
 
  Daniel Stewart and Company plc - Joint Broker            www.danielstewart.co.uk 
  Martin Lampshire                                         +44 (0) 20 7776 6550 
  David Coffman 
 
  Dowgate Capital Stockbrokers Ltd - Joint Broker          www.dowgatecapitalstockbrokers.co.uk 
  Jason Robertson                                          +44 (0)1293 517744 
  Neil Badger 
 
  St Brides Partners Ltd                                   www.stbridespartners.co.uk 
  Charlotte Heap                                           +44 (0) 20 7236 1177 
  Hugo de Salis 
 
 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Vast Resources plc via Globenewswire 
 
   HUG#1949367 
 
 
  http://www.acrplc.com/ 
 

(END) Dow Jones Newswires

September 02, 2015 12:15 ET (16:15 GMT)

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