Vast Resources (VAST)

Sector:

Mining

Index:

FTSE AIM All-Share

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0.16p
   
  • Change Today:
      0.002p
  • 52 Week High: 0.69
  • 52 Week Low: 0.14
  • Currency: UK Pounds
  • Shares Issued: 7,501m
  • Volume: 26,679,855
  • Market Cap: £12.14m
  • RiskGrade: 518
  • Beta: 0.01

Vast Resources looking for new offtake prepayment finance

By Josh White

Date: Monday 21 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Romania and Zimbabwe-focussed mining company Vast Resources updated the market on the situation regarding Mercuria Energy on Monday.
The AIM-traded firm had announced on Friday that Mercuria Energy Trading was not proceeding with the advance of the Tranche B of $5.5m under its prepayment agreement with Vast.

Its board reported that, as a standby measure, it had already been in discussions with other off take partners, but had been unable to progress those discussions while Mercuria was expected to proceed with Tranche B.

Now that Mercuria had informed the company that Tranche B would not proceed, the Vast board said it would advance those other discussions with a view to securing replacement offtake prepayment finance.

"Some initial due diligence has already been in process by other potential off-take partners, a non-binding indicative term sheet has been received and others are promised very shortly," the Vast board said in its statement.

"Legal work will commence shortly, and it is anticipated that the process will not be protracted as the board believes the technical and legal due diligence that has already been performed on Baita Plai is robust and can be used to accelerate the process of securing offtake prepayment finance."

Vast said amicable discussions were in process with Mercuria on the future relationship between Mercuria and itself with regard to off take from Manaila, and the obligations of the company with regard to Tranche A prepayment finance of $4m already advanced.

"The company will update the market on the result of these discussions as soon as agreement is reached."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Vast Resources Market Data

Currency UK Pounds
Share Price 0.16p
Change Today 0.002p
% Change 1.13 %
52 Week High 0.69
52 Week Low 0.14
Volume 26,679,855
Shares Issued 7,501m
Market Cap £12.14m
Beta 0.01
RiskGrade 518

Vast Resources Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.03% above the market average27.03% above the market average27.03% above the market average27.03% above the market average27.03% above the market average
40.68% below the sector average40.68% below the sector average40.68% below the sector average40.68% below the sector average40.68% below the sector average
Price Trend
93.6% below the market average93.6% below the market average93.6% below the market average93.6% below the market average93.6% below the market average
81.25% below the sector average81.25% below the sector average81.25% below the sector average81.25% below the sector average81.25% below the sector average
Income Not Available
Growth
35.66% above the market average35.66% above the market average35.66% above the market average35.66% above the market average35.66% above the market average
38.71% above the sector average38.71% above the sector average38.71% above the sector average38.71% above the sector average38.71% above the sector average

Vast Resources Dividends

No dividends found

Trades for 21-Mar-2019

Time Volume / Share Price
16:22 365,259 @ 0.16p
16:21 5,000,000 @ 0.16p
16:02 100,000 @ 0.16p
15:59 396,027 @ 0.16p
15:50 100,000 @ 0.16p

Vast Resources Key Personnel

Chair Brian Michael Moritz
CEO Andrew Prelea
COO Craig James

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