Vast Resources plc, the AIM-listed mining company, is pleased to announce the Q4 2023 production report at its Baita Plai Polymetallic Mine (‘Baita Plai’) in Romania.
Production for the quarter is provided below with a comparison to previous quarters*.
|
Period |
Tonnes mined |
Concentrate produced (DMT) |
Cu concentrate grade |
|
Q4 2023 |
24,178 |
562 |
18% |
|
Q3 2023 |
25,600 |
559 |
21% |
|
Q2 2023 |
23,372 |
468 |
21% |
|
Q1 2023 |
20,728 |
475 |
23% |
|
Q4 2022 |
17,343 |
453 |
23% |
*Investors should note the Company’s decision, given several factors including the variation of shipping schedules, to simply report quarterly production going forward; sales and other operating information will be included in the Company’s financial reports as usual going forward.
As expected, the average copper concentrate grade decreased during the quarter due to the area that was being mined. However, subsequent to the period end, the quality of concentrate has improved as the Company begins to access higher grade zones.
The Company has incorporated the results from its ongoing drilling programme that commenced in 2023 into its mine plan. This, together with the acceleration of the underground decline access ramp, is expected to substantially increase productivity through reduced underground haulage times and provide accelerated access to high grades at depth. As a result, the Company expects the overall grade of concentrate produced by the mine to increase and a reduction in grade variability.
**ENDS**
For further information, visit www.vastplc.com or please contact:
|
Vast Resources plc
|
www.vastplc.com |
