Vast Resources plc, the AIM-listed mining company, is pleased to announce an update in relation to the Asset-Backed Debt facility from A&T Investments SARL (“Alpha”) as announced on 16 May 2022 and the debt owed to Mercuria Energy Trading SA (“Mercuria”) relating to Tranche A of the Prepayment Agreement announced on 21 March 2018.
Further to the announcement made on 15 May 2023, the Company has now finalised documentation regarding the settlement extension of the debt owed to Mercuria and Alpha to 30 June 2023 under the same terms as previously announced on 16 May 2022.
As part of the extension agreement the Company has agreed with Mercuria to extend their long-term equity option in the Company, first announced on 16 May 2022, to 30 December 2024. As previously stated the repayment is contemplated as being from the recovery of the historic settlement.
