Vast Resources plc, the AIM-listed mining company, is pleased to announce the Q2 production report at its Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania.
Baita Plai Production:
As announced on 7 July 2023 the Company achieved operational breakeven at Baita Plai in June 2023. The increase in production in June was due to the opening of sub level 5 which allows mining on multiple fronts. In Q2 2023, 514 WMT of concentrate was produced with a content of 21% copper. 55% of this production took place in June as a result of preparations made in April & May to access the new mining area in sub level 5 as well as drilling activity required for the exploration programme. June concentrate production was also marked by an increase in copper grade up to 22% Cu concentrate.
Reflecting on June’s performance compared to previous quarters, June 2023 also represented 52% of the entire Q1 2023 WMT concentrate production level showing a clear and marked increase for this month over previous periods.
Below are the production results for Q2 2023 with a comparison to Q1 2023. The reduction in concentrates sold is due to timing differences.
| Quarterly Report | Tons Mined | Conc Produced | Conc Produced | Conc Sold | Conc Sold | Avg. Conc Grade | Cu Conc Inventory at end of Quarter |
| WMT | DMT | WMT | DMT | DMT | |||
| Q1 2023 | 20,72 | 539 | 475 | 516 | 459 | 23% | 241 |
| April | 5,900 | 110 | 101 | 17.6% | 342 | ||
| May | 7,272 | 122 | 112 | 166 | 149 | 20.0% | 305 |
| June | 10,200 | 282 | 255 | 183 | 167 | 22.0% | 393 |
| Q2 Total | 23,372 | 514 | 468 | 349 | 316 | 21.0% | 393 |
Baita Plai Drilling:
As announced on 17 July 2023 the Company has received initial positive results from Phase 1 of an extensive exploration programme which has confirmed the potential to extend the mining area and establish a revised JORC compliant Mineral Resource and in due course an Ore Reserve for its licence renewal in August 2024.
Andrew Prelea, Chief Executive Officer at Vast Resources PLC, commented:
“Achieving operational breakeven is a great result for us and the team and Baita Plai, and we are pleased to see June’s performance as we continue our production ramp up plans. Our production goals are linked closely with our exploration activities, and the positive Phase 1 results reported post period end give the team further confidence in our ability to establish Baita Plai as a profitable long-life mine.”
