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Vast Resources receives cash from first Baita Plai concentrate sale
StockMarketWire.com
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UK mining company Vast Resources has received cash proceeds from the first commercial sale of concentrate produced at its Baita Plai polymetallic mine in Romania, which are "in accordance with expectations".
The AIM-listed producer and development company said that the second commercial sale of concentrate produced at the Baita Plai mine is expected to conclude in December.
The company also said rather than reporting sales on a monthly basis in 2021, it will outline its sales and production reporting plans in due course.
Vast Resources has mines and projects in Romania where it focuses on the rapid advancement of high-quality projects by recommencing production at previously producing mines. The Baita Plai polymetallic mine is located in the Apuseni Mountains, Transylvania - an area which hosts Romania's largest polymetallic mines.
The mine has a JORC compliant reserve & resource report which underpins the initial mine production life of approximately 3-4 years with an in-situ total mineral resource of 15,695 tonnes copper equivalent with a further 1.8M-3M tonnes exploration target. The company is now working on confirming an enlarged exploration target of up to 5.8M tonnes.
Story provided by StockMarketWire.com
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