{"id":109257,"title":"Vast Resources plc (AIM:VAST) Baita Plai Q2 Production Report","publisher":"Share Talk","author":"sharetalk","published":"2023-08-02T07:14:33+00:00","modified":"2023-08-02T07:14:33+00:00","canonical_url":"https://www.share-talk.com/vast-resources-plc-aimvast-baita-plai-q2-production-report/","markdown_url":"https://www.share-talk.com/vast-resources-plc-aimvast-baita-plai-q2-production-report.md","json_url":"https://www.share-talk.com/vast-resources-plc-aimvast-baita-plai-q2-production-report.json","category":"Mining","categories":["Mining"],"tags":["Andrew Prelea","Baita Plai","Botswana","Botswana Diamonds","Chiadzwa","Diamond Fields","Gem Diamonds","Mine","Paul Fletcher","Polymetallic","Polymetallic Mine","Romania","Share Talk","Tajikistan","Vast","Vast Resources","Zimbabwe"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2022/03/st-holder.jpg?fit=1536%2C1024&quality=89&ssl=1","format":"news","language":"en-GB","content":"**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.\n\n**Bai****t****a Plai Production****:**\n\nAs 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.\n\nReflecting 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.\n\nBelow are the production results for Q2 2023 with a comparison to Q1 2023. The reduction in concentrates sold is due to timing differences.\n\n|   |   |   |   |   |   |   |   |\n| --- | --- | --- | --- | --- | --- | --- | --- |\n| **Quarterly Report** | **Tons Mined** | **Conc**** Produced** | **Conc**** Produced** | **Conc**** Sold** | **Conc**** Sold** | **Avg.** **Conc**** Grade** | **Cu ****C****onc**** Inventory at end of Quarter** |\n|  |  | **WMT** | **DMT** | **WMT** | **DMT** |  | **DMT**** ** |\n| **Q1 2023** | **20,72** | **539** | **475** | **516** | **459** | **23%** | **241** |\n| April | 5,900 | 110 | 101 |  |  | 17.6% | **342** |\n| May | 7,272 | 122 | 112 | 166 | 149 | 20.0% | **305** |\n| June | 10,200 | 282 | 255 | 183 | 167 | 22.0% | **393** |\n| **Q2 ****T****otal** | **23****,****372** | **514** | **468** | **349** | **316** | **21.0%** | **393** |\n\n**Baita ****Plai ****Drilling:**\n\nAs 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.\n\n**Andrew Prelea, Chief Executive Officer at Vast Resources PLC, commented:**\n\n*“**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**.**”*"}