Andrew Prelea CEO commented: I am delighted to receive confirmation of the support for the Blueberry Project from an institutional investor and that Vast’s interest in the Blueberry Project is now confirmed. I look forward to giving further news on drilling and assay results as they become available.
Vast Resources plc, the AIM listed mining company with operating mines in Romania and Zimbabwe, is pleased to announce that further to the announcement of 5 September 2018, the Company has now secured the previously indicated investment by an institutional investor in the Company’s subsidiary EMA Resources Ltd (‘EMA’).
As a result, together with early investments obtained from individuals, funding in excess of US$1 million has now been procured for the gold focussed polymetallic Blueberry Project located in the Golden Quadrilateral of Western Romania.
The time limit for the procurement of US$1 million funding under EMA’s agreement with the vendors of Blueberry Ridge SRL, owner of the Blueberry Project, was recently extended to 30 October 2018 and has therefore been satisfied.
The retention by Vast of a 29.41% interest in EMA post issue of shares in EMA to the vendors has therefore now been secured.
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